Levro | FAQ

Frequently Asked Questions

What’s required to open a Levro account?

For all applicants, we require an active United States entity with an EIN number. We may also ask for a copy of your certificate of incorporation and your EIN verification letter.

If you reside outside of the United States, we will also require a valid passport and a recent bank statement, lease or utility bill to verify your home address. We do not require applicants to reside in the United States.

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How long does it take to open an account?

We can generally open an account in as little as 1 business day. If additional documents are required, then it will likely take longer.

Are there any minimum balance requirements?

No! We have no minimum balance requirement, however we do require that you activate your account by transacting at least once in the first 9 days.

I’m not located in the United States. Can I still open an account?

Yes - we do not require that applicants reside in the United States, however you must have a US entity and have a strong US presence.

Who is eligible for a Levro account?

Businesses must be based in the United States with an active presence, have officers and/or beneficial owners who do not reside in an ineligible country, and are not in a restricted industry.

What fees are associated with the business bank account?

All accounts receive 10 free wires and 20 free local payments each month. For more information, please see our pricing page.

Can I link my business bank account to accounting software?

Yes, we are compatible with Quickbooks Online & Xero. If you have a different accounting software that you’d like to use, please let us know.

How can I deposit funds into my business bank account?

If you’re sending money from a US bank account, you can link your account via Plaid or send a wire or ACH transfer directly to your Levro account. If you’re depositing funds from an international bank account, we accept SWIFT payments, as well as local payments for CAD, GBP & EUR.

Is Levro a bank?

No - Levro is a technology company that partners with banks to offer a checking account specifically designed for international businesses. All USD and domestic transactions are processed through Blue Ridge Bank, member FDIC, while international transactions are processed through Currencycloud, a Visa owned company.

Are there any transaction limits or restrictions?

There is an outbound conversion limit of $500K, with a few other limits depending on the payment method and tier of the account. If you ever need to complete a large transaction, please reach out to us for assistance. There are no limits on inbound transactions.

Regarding restrictions, there are few restrictions on where you can send funds (outside of sanctioned countries) however we do restrict payments from some countries. The full list can be found here.

Can I make international transactions from my business account?

Yes! Levro simplifies cross border and multi currency transactions. You can send payments to over 180 countries in over 30 different currencies. View our currencies and countries page for more information.

What security measures are in place to protect my account?

Security is our top priority. Levro leverages industry best practices and solutions to protect your data and funds. For more information, view our Safety page.

Are my funds covered under the Federal Deposit Insurance Corporation (FDIC)?

Yes - all funds held in USD are insured up to $250,000.