Which US banks actually accept Filipino founders?
Mercury will not open accounts for founders living in the Philippines. Relay will. That distinction is worth more than most of what is written about this, and both were read from the providers' own pages.
Provider by provider
Verified July 28, 2026
The Philippines appears on Mercury's published prohibited-countries list, based on where the founder lives.
Relay states it accepts US entities with owners holding non-US citizenship and based outside the US, and the Philippines is not on its prohibited list. Approval remains at Relay's discretion.
The Philippines is among the countries where Wise permits residents to hold a balance.
Payoneer serves the Philippines, including USD receiving accounts.
Provider country policies change without public notice — Mercury revised its prohibited list in 2024 and has amended it since. Treat this page as a starting point that was accurate on the date shown, then check the provider's own page before you apply. We would rather you verify us than trust us on something this consequential.
The Philippines is in a better position than its neighbours
Founders in Nigeria, Pakistan and Vietnam face closed doors at Mercury, Relay and Wise simultaneously. Filipino founders lose Mercury but keep Relay, Wise and Payoneer. If you have read discouraging general advice about non-US founders and banking, much of it was written about harder markets than yours.
BSP explicitly supports investing abroad
The BSP foreign exchange manual states the central bank supports residents' legitimate outward investments, and residents may invest offshore without prior BSP approval when funding from their own foreign-currency sources. Registration is optional and matters mainly for sourcing foreign currency from Philippine banks later. Compared with markets where outward investment is restricted or suspended outright, that is a materially easier legal starting point.
Watch for competitors citing a stale Stripe page
Several formation services claim Stripe is available in the Philippines on an invite basis, citing a Stripe legal page dated 2017 that names an entity no longer handling this. The Philippines does not appear on Stripe's current country page in any category. If a vendor tells you otherwise, check Stripe's own page before paying them.
Worth knowing before you buy
Relay not appearing on a prohibited list is not the same as guaranteed approval — every provider underwrites individually and can decline for reasons it does not publish. Plan for the possibility that your first application is not accepted, rather than treating any of this as certain.
Common questions
Mercury said no. What now?
Relay is the usual next step for Filipino founders — it accepts US entities with owners based outside the US and does not list the Philippines as prohibited. Wise and Payoneer are both available to Philippine residents as well. Losing Mercury narrows your options; it does not close them.
Do I need BSP approval to form a US LLC?
Generally no. The BSP foreign exchange manual states it supports residents' legitimate outward investments, and residents may invest offshore without prior approval when funded from their own foreign-currency sources. Registration is optional and relevant mainly if you later want to buy foreign currency from Philippine banks to fund the investment.
Is Stripe available in the Philippines?
No. The Philippines does not appear on Stripe's country page as supported, preview, or extended network. A US LLC with an EIN is what makes a Stripe account possible, which is the main reason Filipino founders form one.
Form your US LLC from Philippines
Wyoming filing, Registered Agent, and EIN guidance. $100 state fee, filed in one to three business days.
RazorFile files companies. We are not a law firm, bank, or tax advisor, and nothing on this page is legal or tax advice.