Q: Can a fintech bank refuse a virtual address for my LLC's EIN?

A: Yes, fintech banks can refuse to accept virtual addresses for your LLC's EIN registration, even when that address is legitimately tied to your business formation documents. This happens because many financial institutions have specific requirements under Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations that often prioritize physical addresses for verification purposes. Your situation is frustrating but not uncommon among entrepreneurs using virtual business addresses.

You have several potential options to resolve this issue. First, try contacting the fintech's customer support directly to explain your situation - some may have exceptions or alternative verification methods for legitimate businesses. Second, consider exploring other digital-first banks that explicitly accommodate virtual business addresses, as policies vary significantly between institutions. Third, you might need to provide additional documentation proving your business legitimacy, such as your operating agreement, business license, or articles of organization.

If digital banks continue to present obstacles, traditional brick-and-mortar banks might actually be more flexible than you expect. Many community banks and credit unions have modernized their approach to business banking and understand the changing nature of business addresses. Remember that establishing a banking relationship often depends on building trust, so being transparent about your business structure and prepared with comprehensive documentation will help regardless of which banking option you pursue.