Payoneer and Wise are not your company's bank
They are convenient at the start, but by nature they are payment systems, not banking infrastructure. They have no direct bank deposit with FDIC like a US bank account, and on regular turnover the withdrawal and conversion fees add up to a noticeable amount.
- Wise charges for transfers and conversion. On a real Edeal payment that was 358.62 EUR on 6,557.77 EUR sent — that is 5.47%.
- Payoneer charges for receiving, withdrawal and conversion: per the official schedule — 1% on local bank transfer / ACH debit, $1.50 for a same-currency local withdrawal up to $50,000, 0.5% above that, and 1–4% on withdrawal in another currency.
How much this costs on turnover is easier to see in numbers:
| Amount per period | 1% | 2% | 4% |
|---|---|---|---|
| $7,200 | $72 | $144 | $288 |
| $15,000 | $150 | $300 | $600 |
| $30,000 | $300 | $600 | $1,200 |
| $50,000 | $500 | $1,000 | $2,000 |
A detailed breakdown is in the article “US bank account for non-residents”. And why cheap DIY registration leads to bank rejections — in a real story of a frozen account.
What CFO On the Go is
This is not just “open an account,” but launching and setting up your company's entire US financial infrastructure. The service includes:
- US company formation — if you don't have a company yet, we register one to meet bank and compliance requirements;
- arranging the opening of a bank account / payment account for a non-resident;
- full bookkeeping support;
- financial management elements — a CFO function at the launch and initial setup stage.
Bookkeeping is an integral part of the service. We do not run an account without it: it is needed for correct accounting and to meet basic US regulatory requirements. If bookkeeping is switched off, financial support ends.
Who it's for
- Company type — C-Corporation. If you don't have a company yet, we'll register one to meet the bank's requirements.
- Non-residents of the US. No US visit required — everything is remote.
- For citizens of the Russian Federation — provided you have tax residency outside Russia. Sanctions nuances hinge on location, not the passport; we review them individually during onboarding (more in the article on sanctions and a Russian passport).
- You'll need to provide data for KYC/AML.
How account opening works
- Onboarding with an expert. We start with a live call: your business, turnover, currencies and marketplaces (Amazon, Stripe, PayPal). From that we set the route to opening the account.
- Company and EIN. If you don't have them yet — we register the company and get the EIN. Expedited EIN is optional.
- Preparing the banking package. We prepare the documents and application to pass the bank check. We handle the application for you.
- Verification without an SSN. If you have no SSN, an alternative verification is used. The account is opened for the company and its EIN.
- Account opened. Once opened, you receive access and a notification.
- Handover to bookkeeping. A separate onboarding with the accounting team: from then on account questions and accounting questions are handled in their own tracks, so nothing gets lost.
- Checkpoint after 30 days. We verify the account works correctly and, if needed, step into communication with the bank. We file Form 8822-B if required.
What the service includes
- US company formation (if needed) and getting the EIN;
- preparing documents and the banking package to the bank's requirements;
- selecting an account with a US bank or payment system to fit your business;
- filing the application and support through to opening;
- verification without an SSN via an alternative procedure;
- full bookkeeping support;
- CFO-function elements at the launch stage;
- a 30-day checkpoint and filing Form 8822-B if needed.
Open a US bank account the right way? → book a consultation
On the onboarding call we'll look at the owner's country, company type, turnover and currencies — and pick the route to opening the account for your business.
FAQ
Can a non-resident open a US bank account remotely?
Yes — with a properly prepared company, EIN, documents and by passing the bank check. We prepare the package and support you through to opening. No US visit required.
Do I need an SSN?
No. If you have no SSN, an alternative verification is used. The account is opened for the company and its EIN.
Why is a US bank account better than Payoneer or Wise?
Payoneer and Wise are payment systems, not company banking infrastructure. On regular turnover the withdrawal and conversion fees grow: on a real Edeal payment the Wise fee was 5.47%.
Which company type is it for?
For a C-Corporation. If you don't have a company yet — we'll register one to meet the bank's requirements.
Is bookkeeping mandatory?
Yes. Bookkeeping is an integral part of the service; we don't run an account without it.
Which bank do you choose?
We don't advertise specific services. We select an account with a US bank or payment system to fit the client's business.
Launch the financial side of your US business?
CFO On the Go — company, EIN, documents, a US bank account and bookkeeping, turnkey. Since 2019 we've helped non-residents open companies and accounts.