Recommend a bank for Wyoming LLC?

Question

We have a new LLC formed in WY. My credit union in TN doesn’t open accts out of state. Any suggestions for low fee banking in WY? Thanks in advance!

V.G Jason · Answer

If you opened a WY LLC, why are you opening a TN bank account? If you're looking to do business in TN, you'll need a TN LLC. The purpose is to have that TN LLC owned by the WY LLC. The WY LLC is not one size fits all. It's not a terribly hard understanding, but all it is, is a shield. You just put it as the manager/member on your actually operating LLCs in other places. Requires upkeep, for sure. But it's absolutely worth the hassle.

Nathan Gesner · Answer

I agree with Henry. Open an account locally. There's no need to open one in Wyoming.

This is the problem with LLCs. People open them when there's no need, and then they don't understand how to operate them or how much work is involved.

Henry Clark · Answer

Why do you want or need an LLC and a bank account in the same state, no matter what State your LLC is in.   Do you plan to invest in Wyoming?