Can You Recommend Any Banks To Set Up My Account With?

Legally we do not advise on specific Banks for our clients to set up accounts with. Please note that Banks change their polices and the information below may change.

Recently we had a client set up the KMAGB structure and she was kind enough to send in information on her experience as she set up her Bank account for her WY LLC.

“To save new clients time I am emailing in to give you a short list of Banks that may be an option. These banks have nationwide locations, especially in Wyoming. I successfully opened an account with Bank of America.

Possible Bank options:

Ashlee, I called all the banks listed above and they have physical business bank locations nationwide. They were willing to open a business account for a WY corporation. I’m in California, which is the hardest state to open “out of state business accounts without foreign registration of WY corporation”. There may be more banks, but this is my short list that I was successful with. Please share. I even found that Capital One does have physical locations nationwide, but not many in each city.

Her continued feedback:
The bank will ask questions, such as, type of industry the corporation operates?

The location has to be in WY, all I used was the corporation’s address. For mailing address, I used my P.O. Box for privacy reasons. Don’t mention that the business has any other location other than WY, or the bank will request foreign entity status. If a person doesn’t have a real operational business, and they are just using the corporation as a lien holder, you can use real estate as industry. You can say that the corporation is a holding company and holds your WY vacation rental property that only operates in WY. (As an example) You can still use the corporation as a lien holder to place deeds of trust liens. You just have to have a business purpose or real estate angle for the bank to say OK. If asked, “Why don’t you just open a bank account in WY?” The best answer is, ‘I travel from my home state to WY all of the time’. Of course, because you have a business there and work remotely or you own vacation rental property in WY. (As an example)

Just to help with your questions & answers section for banks. They ask a thousand questions, but if you are legitimate you should have an easy time opening a bank account with a WY LLC out of state corporation.”

We appreciate Laura’s feedback and up to date support on setting up a Bank account for your WY LLC.