Bank of America Business for Delaware LLC.
Business banking with relationship rewards and lending. We explain exactly how to open a Bank of America Business account with your Delaware LLC, what documents you need, how long approval takes, and whether non-US founders are accepted. Last updated: June 4, 2025.
Quick answer: Can a Delaware LLC open a Bank of America Business account?
Yes. A Delaware LLC can open a Bank of America Business account in the United States. Bank of America Business is difficult for non-US founders and typically requires an in-person visit or US work authorization. Approval takes 1 to 2 weeks. You need your Delaware Certificate of Formation, EIN confirmation letter, government-issued photo ID, and 4 additional documents. Monthly fees are $16 (waived with $5,000 minimum balance or $250 monthly spend).
Bank of America Business for Delaware LLC — key facts at a glance.
Why Delaware LLCs choose Bank of America Business.
Last updated: June 4, 2025
Bank of America is the second-largest bank in the United States and offers a full suite of business banking products. Its Business Advantage Banking account is popular with small LLCs for its relationship rewards program, which provides fee waivers, interest rate discounts on loans, and bonus rewards on credit cards based on your total balances across Bank of America and Merrill accounts. For Delaware LLCs, Bank of America offers checking, savings, credit cards, merchant services, and business loans. Like Chase, it requires an in-person visit for most non-US founders and has stricter requirements than fintech alternatives.
Founded in 1904 and headquartered in Charlotte, North Carolina, Bank of America Business has built a reputation as delaware llcs with us-resident founders that want relationship banking benefits, cash deposits, and access to business loans and credit cards. For Delaware LLCs specifically, Bank of America Business offers good compatibilitybecause it is a full-service bank with established Delaware LLC experience.
The main challenge for non-US founders is eligibility. Bank of America Business typically requires a Social Security Number or ITIN, and non-US founders often need to visit a branch in person. This makes it difficult for founders who do not live in the United States or do not have US work authorization.
When you work with DelawareLLC.co, your specialist helps you prepare every document Bank of America Business requires, reviews your application before submission, and troubleshoots if the bank requests additional information. We have helped hundreds of Delaware LLCs open Bank of America Business accounts, and we know exactly what each bank looks for.
Delaware LLCs enjoy unmatched legal credibility because of the state's Court of Chancery and century-old corporate law framework. Investors, venture capital firms, and payment processors recognize Delaware as the gold standard for US business formation. However, that credibility depends on having a proper US banking footprint. When you present a Delaware Certificate of Formation but your business transactions flow through a personal account overseas, partners and investors question whether your LLC is a legitimate US entity. A US business bank account tied to your Delaware LLC reinforces your legal separation, builds business credit history, and signals to US customers, suppliers, and investors that you operate a genuine American business.
Non-US founders make three predictable mistakes when banking a Delaware LLC. The first is submitting documents that do not match exactly — using a shortened LLC name on the bank application while the Certificate of Formation shows the full legal name. Banks reject these applications automatically because their compliance software flags mismatched entities. The second mistake is applying before the IRS issues an EIN. Banks verify EINs against the IRS database in real time, and if your number is not yet active, the application fails instantly. The third mistake is using a personal bank account for LLC income, which pierces the corporate veil and exposes personal assets to business liability. These errors are completely avoidable with proper preparation.
Bank of America Business solves these problems by offering dedicated relationship managers who review documents before submission. While Bank of America Business requires an SSN or ITIN, it compensates with robust in-person support and comprehensive business services that fintech banks cannot match. Specific use cases where Bank of America Business excels include e-commerce businesses processing US customer payments, SaaS companies collecting recurring revenue in USD, consulting firms invoicing American clients, and agencies managing multi-currency operations. Retail and cash-heavy businesses benefit from branch deposit networks.
How to open a Bank of America Business account for your Delaware LLC.
Gather your documents
Start by collecting every document Bank of America Business requires. You need: 1. Delaware Certificate of Formation 2. EIN confirmation letter 3. Operating agreement 4. Government-issued photo ID 5. US address 6. Social Security Number or ITIN 7. In-person branch visit (usually required for non-US founders). Double-check that your LLC name on every document matches your Certificate of Formation exactly — even a missing comma or abbreviation can trigger an automatic rejection. If you are a non-US founder, confirm whether you need an SSN or ITIN before applying. We recommend scanning everything into a single PDF so you can upload it in one session.
Complete the online application
Visit bankofamerica.com/business and start the application. Enter your Delaware LLC name exactly as it appears on your Certificate of Formation. Use your EIN from the IRS. Enter your SSN or ITIN. If you do not have one, you cannot complete this application and should consider Mercury or Wise instead. The application takes 10-20 minutes. Do not rush: incorrect information here causes rejection or manual review delays.
Verify your identity
Bank of America Business verifies your identity using your government-issued ID. Online application or in-person branch visit. Document verification. A bank representative may call you to confirm your business details. Respond to any verification requests within 24 hours. Delays in response can push your approval back by several days. Make sure the ID you upload is not expired and shows your full legal name.
Wait for approval
Approval typically takes 1 to 2 weeks. Rejection is common for Non-US founder without SSN or ITIN, High-risk business categories, Inability to visit a branch. During this period, avoid submitting duplicate applications — multiple submissions can flag your LLC for fraud review. Your branch representative will call you with the decision or next steps. If approval takes longer than expected, check your spam folder for missed communications.
Fund your account
Once approved, fund your account via ACH transfer, wire, or debit card. Maintain the required balance to avoid monthly fees. Budget for wire fees: $15 (domestic), $16 (international) incoming and $30 (domestic), $45 (international) outgoing. Set up your accounting integration with QuickBooks immediately to automate bookkeeping. Order your debit card and activate it through the mobile app.
Bank of America Business pros and cons for Delaware LLCs.
Every bank has trade-offs. Bank of America Business is no exception. Before you submit your application, understand exactly what you gain and what you give up compared to alternatives like Mercury, Wise Business, and Relay. The right choice depends on whether Bank of America Business's strengths align with your business model and whether you can live with its limitations.
- 4,000+ branches and 16,000 ATMs
- Relationship rewards program (fee waivers, loan discounts)
- Full-service banking including loans and credit cards
- Cash deposits accepted
- Strong small business lending programs
- Zelle integration
- Merrill investment integration
- $16 monthly fee with high balance requirement ($5,000)
- Non-US founders face significant barriers
- Requires in-person visit
- High wire fees ($30-$45)
- 3% foreign transaction fee
- No virtual cards
- Slow approval process
Bank of America Business vs alternatives for Delaware LLCs.
| Feature | Bank of America Business | Best alternative |
|---|---|---|
| Monthly fee | $16 (waived with $5,000 minimum balance or $250 monthly spend) | ✓$0 (Mercury, Wise, Relay) |
| Approval for non-US founders | Poor | ✓Excellent (Mercury, Wise) |
| SSN required | Yes | ✓No (Mercury, Wise, Relay) |
| Wire fees | $30 (domestic), $45 (international) | ✓$0 (Mercury) |
| Foreign transaction fee | 3% | ✓0% (Mercury, Wise, Novo) |
| Virtual cards | No | ✓Yes (Mercury, Relay, Novo) |
| Cash deposits | Yes | ✓Yes (Chase, BofA, Capital One) |
| Savings accounts | Yes | ✓Yes (Mercury, Chase, BofA) |
| API access | No | ✓Yes (Mercury, Wise, Brex) |
| Approval speed | 1 to 2 weeks | ✓1-3 days (Mercury, Wise, Novo) |
Bank of America Business fees and pricing breakdown.
- Monthly fee: $16 (waived with $5,000 minimum balance or $250 monthly spend)
- Account opening: $0
- Wire incoming: $15 (domestic), $16 (international)
- Wire outgoing: $30 (domestic), $45 (international)
- ACH transfers: $0
- ATM fees: $0 (BofA ATMs), $2.50 (non-BofA ATMs in US), $5 (international)
- Foreign transactions: 3%
- Debit card: Physical + virtual
- Mobile app: Yes
- Multi-user access: Yes
- Check deposits: Yes
- Check issuing: Yes
- API access: No
- Accounting integrations: QuickBooks, Xero
Timeline: From application to first transaction.
Complete the Bank of America Business online application with your Delaware LLC documents. Time required: 10-20 minutes.
Bank of America Business reviews your Certificate of Formation, EIN, and identity documents. Additional verification may be requested.
You receive approval and account details via email. Debit cards are typically shipped within 5-7 business days.
Transfer funds via ACH or wire. Activate your debit card. Set up accounting integrations if needed.
Use your account for business expenses, receive customer payments, and build your business credit history.
Frequently asked questions: Bank of America Business for Delaware LLCs.
Can a non-US resident open a Bank of America Business account with a Delaware LLC?
No, or it is very difficult. Bank of America Business typically requires a Social Security Number or ITIN, and non-US founders usually need to visit a branch in person. Consider Mercury or Wise Business instead.
What documents does Bank of America Business require for a Delaware LLC?
Bank of America Business requires 7 specific documents for a Delaware LLC: Delaware Certificate of Formation; EIN confirmation letter; Operating agreement; Government-issued photo ID; and US address; Social Security Number or ITIN; In-person branch visit (usually required for non-US founders). The most critical document is your Certificate of Formation, which must match your LLC name exactly on the application. Your EIN confirmation letter from the IRS is mandatory — banks verify this number against IRS records, and applications without a valid EIN are rejected automatically. Non-US founders typically need additional documentation, including proof of US address and sometimes an in-person branch visit. We recommend organizing these documents in a single PDF before starting your application.
How long does Bank of America Business take to approve a Delaware LLC account?
Approval typically takes 1 to 2 weeks. Traditional banks like Bank of America Business require manual review, which adds time compared to fintech alternatives. Rejection is most common when non-us founder without ssn or itin. Additional verification can add 2-3 business days. If your application is flagged for manual review, respond to any document requests within 24 hours to prevent further delays. Founders who apply on Monday morning typically receive approval by the end of the week.
Does Bank of America Business charge monthly fees?
Yes. Bank of America Business charges $16 (waived with $5,000 minimum balance or $250 monthly spend). You can avoid this fee by maintaining the required minimum balance or meeting monthly activity thresholds. Compare this to Mercury and Wise Business, which charge $0 regardless of balance. There is also no account opening fee. For a Delaware LLC operating on lean margins, zero monthly fees preserve capital for growth.
Can Bank of America Business receive wire transfers?
Bank of America Business receives wires for $15 (domestic), $16 (international). Outgoing domestic wires are also free, which is rare among US business banks. Wire transfers are the fastest way to move large sums into your Delaware LLC account from international clients or investors. If you expect frequent wires, compare the annual cost: at Chase, 12 incoming international wires cost $180. At Bank of America Business, the same volume costs significantly less.
Does Bank of America Business offer virtual debit cards?
No. Bank of America Business does not offer virtual cards. If virtual cards are important for your business, consider Mercury or Relay, both of which offer unlimited virtual cards for online spending. Bank of America Business also provides physical debit cards for in-person purchases and ATM withdrawals.
Can I deposit cash into Bank of America Business?
Yes. Bank of America Business accepts cash deposits at branches and ATMs. This makes Bank of America Business suitable for retail businesses, restaurants, and service companies that collect cash from customers.
Does Bank of America Business integrate with QuickBooks or Xero?
Yes. Bank of America Business integrates with QuickBooks, Xero. The QuickBooks connection syncs transactions automatically, categorizes expenses, and reconciles your books in real time. The Xero integration imports bank feeds daily and matches transactions against invoices. Accurate bookkeeping is essential for Delaware LLC tax compliance, and these integrations eliminate manual data entry.
What happens if Bank of America Business rejects my application?
Bank of America Business rejects applications for Non-US founder without SSN or ITIN; High-risk business categories; Inability to visit a branch. If rejected, you have three options. First, appeal with corrected documentation — fix mismatched names, add missing documents, or clarify your business description. Second, apply to an alternative like Mercury or Wise, which have broader acceptance criteria. Third, work with a DelawareLLC.co specialist who reviews your application before submission and troubleshoots rejections. The best prevention is following Bank of America Business's guidelines: visit a branch in person with all original documents.
Should I choose Bank of America Business or Mercury for my Delaware LLC?
Choose Bank of America Business if delaware llcs with us-resident founders that want relationship banking benefits, cash deposits, and access to business loans and credit cards. Choose Mercury if you want zero fees, faster approval, and better support for non-US founders. Bank of America Business offers savings accounts, and monthly fees of $16 (waived with $5,000 minimum balance or $250 monthly spend). For non-US founders without an SSN, Mercury accepts foreign passports and approves in 1-5 days. If you need cash deposits, Bank of America Business may be the better primary choice.
Tools to help you decide.
Related guides.
Opening a bank account is one of the first things you should do after forming your Delaware LLC. Start with our complete Delaware LLC banking guide for an overview of all options. Compare the best banks for Delaware LLCs, or read our guide to online business banking if you cannot visit a branch in person.
Before you apply, understand EIN requirements — you need an EIN before any bank will open an account. Learn how to set up Stripe and PayPal as payment processors that connect to your new business account. If you are a non-US founder, our non-resident guide covers banking, tax, and compliance in detail. See our cost breakdown or our pricing to form your LLC.
For specific business types, explore e-commerce banking, consulting firm setup, and SaaS startup banking. Each guide explains which bank features matter most for that industry and how to avoid common rejection reasons.
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