Article

Yondaa Partners with Relay to Offer U.S. Banking Services

B

An online bank offering US business accounts to non-residents


Yondaa Partners with Relay to Offer Banking Services - If your looking to setup and operate a US company, eventually you will have to look into banking options for your US company. There are many options but the process to navigate this can be complex. If you are looking to setup a physical presence for your US business, the process is straightforward, as you will have an address and local bank branches you can visit to have this taken care of, but if your a non-resident company opening an account can be challenging.

That’s why we have partnered with Relay Financial Technologies Inc. to offer banking solutions for US corporations, LLCs and general partnerships to non-resident owners or partners with the ability to setup your account online.

Our partner banking services are currently only available to US business owners who are citizens of the United States, the United Kingdom, Canada, Australia and New Zealand. We expect new countries to be added soon so reach out if you are located elsewhere.

The Relay platform includes everything you need to operate your US business, including online banking, mobile applications, Mastercard business debit cards and ACH transfer services.

Who can we refer for banking services?

Our referrals are via invite only for our standard and premium package business clients, we will refer you to our bank partners via an online invitation to securely complete your account application online or we will setup the bank account application on your behalf. In order to qualify for a business account with Relay you will need to submit the following documentation;

• Photo ID for the director opening the account (Foreign passport acceptable)
• Articles of incorporation / organization (provided by Yondaa)
• EIN (Federal Employer Identification Number) confirmation letter (provided by Yondaa)
• Proof of business address (provided by Yondaa)
• Bylaws / operating agreement (where applicable) (provided by Yondaa)

Who is our preferred banking partner?

Our partner banking provider, Relay Financial Technologies Inc. are an online only bank that caters to providing US business banking services to international clients. We currently have a referral partnership in place that allows us to invite our clients to register, go through an approval process and apply for a US business bank account in minutes, if approved, you’ll have an FDIC-insured business checking account and a Mastercard debit card. Once you add funds to your account, you can use your Mastercard debit card online or offline anywhere in the world, and make payments via ACH, wire and check. You can also receive payments via ACH, wire or check. In order to open an account with our banking partner you will require an invitation from us which will be provided after your company registration process is complete.

Who can we refer to our online banking partners?

Relay will accept application from tangible operating companies that are U.S. corporations, LLCs and general partnerships (LLPs). We currently support banking referrals to our partner banks from business owners that are citizens of the United States, Canada, the United Kingdom, Australia and New Zealand.

Are there any industries that our banking partners dont support?

Our banking partners are unable to support businesses that deal in providing or exchanging cryptocurrency, privately owned ATMs, money services, unlawful internet gambling, or cannabis / marijuana sales.

Do you guarantee bank account setup with your partner banks?

No - Our partner banks are partners and completely independent entities that operate their own approval policies. We implement compliance guidelines in the companies that we refer to them for bank account setup but it is at their discretion on whether to approve banking services. If we have concerns about the likely-hood our your bank account being approved based on your business we will communicate our concerns to you and may refer you to alternative routes if we believe it is appropriate to do so.

If you have questions on our banking partners or would like to setup a company with us and have US banking services provided, you can contact us at contact@yondaa.com