Quick Answer
A Banking Resolution is a formal corporate legal document adopted by LLC members authorizing designated individuals to open, manage, and execute transactions on business bank accounts. FinTech banks like Mercury, Relay, and Wise require a dedicated Banking Resolution with specific signing authority clauses before approving foreign-owned LLC accounts.
LLC Banking Resolution for Non-Residents — Account Opening Document (2026)
Ensure your foreign-owned US LLC is fully equipped to satisfy bank KYC. A structured Banking Resolution is mandatory for non-residents looking to open accounts with top-tier US FinTech and traditional banks.
Why FinTech & Traditional Banks Demand a Banking Resolution from Non-Residents
For foreign-owned LLCs, opening a US business bank account is the highest friction point in establishing a US business presence. Under stringent KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations, banks must definitively verify who holds financial control over the entity.
Proof of Authorization
Banks cannot assume that an individual presenting LLC formation documents has the legal authority to open an account or transfer funds. The Banking Resolution acts as absolute proof, ratified by the company, explicitly identifying the authorized agents.
Key Clauses Required in a Compliant Banking Resolution
1. Authorized Signers
Explicitly names the individuals (members or managers) authorized to open accounts, sign checks, and manage funds on behalf of the LLC.
2. Financial Limits
Defines any transaction limits or requirements for multiple signatures on large transfers, providing security against unauthorized massive withdrawals.
3. Digital Banking
Grants authority to use online banking platforms, manage virtual cards, and execute digital transactions—crucial for FinTech banks.
4. Wire Powers
Authorizes international and domestic wire transfers, specifically addressing the global operational needs of non-resident founders.
Banking Resolution vs. Operating Agreement
| Feature / Document | Banking Resolution | Operating Agreement |
|---|---|---|
| Primary Purpose | Authorizes financial control and account opening. | Governs overall business structure, ownership, and rules. |
| Target Audience | Banks, Payment Processors (Stripe), FinTechs. | Internal members, IRS, legal courts. |
| Focus | Highly specific to banking, signing powers, wire limits. | Broad (profit distribution, dissolution, voting rights). |
| Required by Banks? | Almost Always (Especially for non-residents). | Yes, as a foundational document. |
Step-by-Step: Drafting & Signing Your Resolution
Produce a resolution document that includes your specific LLC name, registered address, and member details.
Identify the specific Authorized Signers who will be handling the banking relationship.
All members or managers must sign the document. Digital signatures are widely accepted by modern banks.
Upload the fully executed resolution during your onboarding process with Mercury, Relay, or Wise.
Frequently Asked Questions
What is a Banking Resolution for an LLC?
A Banking Resolution is a formal corporate document adopted by LLC members that authorizes specific individuals to open, manage, and execute transactions on the company's business bank accounts.
Do I need a Banking Resolution if I am a single-member LLC?
Yes. Even single-member LLCs are often required by FinTech banks like Mercury and Wise to provide a Banking Resolution to formalize the sole member's authority to open accounts and manage funds.
How does a Banking Resolution differ from an Operating Agreement?
An Operating Agreement governs the overall ownership, structure, and operation of the LLC, whereas a Banking Resolution specifically details who has the authority to open bank accounts, sign checks, and authorize financial transactions.
Which banks require a Banking Resolution?
Almost all traditional banks and modern FinTech platforms (including Mercury, Relay, and Wise) require a Banking Resolution, particularly for foreign-owned LLCs to satisfy their KYC and AML compliance protocols.
Who signs the Banking Resolution?
The Banking Resolution must be signed by the authorized members or managers of the LLC as outlined in the Operating Agreement.
Can I use a generic Banking Resolution template?
While generic templates exist, banks often have specific requirements. It is recommended to use a resolution that explicitly grants digital banking, wire transfer, and foreign transaction powers tailored to non-residents.
When should the Banking Resolution be adopted?
It should be adopted immediately after the LLC is formed and the Operating Agreement is signed, just before you apply for a business bank account.
Does HynoGo provide a Banking Resolution?
Yes, HynoGo provides customized Banking Resolutions tailored for platforms like Mercury, Wise, and Relay as part of our comprehensive business formation packages.
Get Your FinTech-Ready Banking Resolution Today
Included at no extra charge in HynoGo's formation packages. Stop getting rejected by US banks due to missing documentation.
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