Summary
Relay is powerful (and free) business banking designed to help grow your business. This free online business account is a good fit for companies that want to integrate their banking and cash management services.
Relay review for non-residents without SSN
Bank
Relay
SSN Required?
No
ITIN Required?
No
Can Apply Online?
With EIN
Features
- No monthly fees or minimum balance requirements.
- No overdraft fees, unlimited transactions, and free incoming wire transfers.
- Business owners can have up to 20 business checking accounts and 50 Mastercard® debit cards (virtual or physical).
- Ability to set transaction and withdrawal limits on employee debit cards.
Cons
- Cannot deposit cash or order checks.
- Long hold time for deposited checks (up to 6-7 business days).
Link
Wise review for non-residents without SSN
Bank
Wise
SSN Required?
No
ITIN Required?
No
Can Apply Online?
Yes
Summary
Wise isn't a bank in the US but a money transfer operator that's well-known for offering some of the cheapest international transfers globally. However, in addition to money transfers, Wise also offers a Multi-Currency Account, a low-cost foreign currency spending account, and a Visa debit card.
Features
Even without a US residence, the Wise Account gives you US checking details.
- A debit card to spend in 50+ currencies, including US dollars.
- You can use this account to get paid by employers in US dollars. - Send money domestically within the US.
- The Wise debit card is accepted worldwide.
- Local bank details are not just in the US, but also in the UK, EU, Australia, New Zealand, Singapore, Romania, Canada, and Hungary.
Cons
- The fee to receive wire transfers (domestic and international) is $7.50 per transaction.
- Incoming payments can only be in US dollars, no other currency will be accepted.
- Incoming domestic transfers take 2 to 3 working days to arrive in the account, while international transfers take 4 to 5 days.
- You can't yet set up a direct debit.
Link
Neobank?
Yes