# Getting Bank, Exchange, and Other TradFi Accounts

### As legal persons, DAO LLCs are eligible to open bank, exchange, and other TradFi accounts, but it can be challenging for any Web3-related company to do so.

Whether a bank or other provider will open an account for a DAO LLC depends on many factors including:

* Whether the provider supports Marshall Islands companies (ask them before applying!)
* The membership and management structure of your DAO LLC, which is up to you and determined by how you write your [Operating Agreement](/dao-llc-structuring/dao-llc-operating-agreements-and-amendments.md).
  * For example, some banks may not be OK with companies using a token to track membership, even though it's totally acceptable in the Marshall Islands.
* The citizenship and residency of the DAO LLC's beneficial owners and their ability to pass KYC.
  * Note that every provider defines beneficial ownership differently, and their definition may vary from MIDAO's [definition](/rmi-dao-llc-registration-and-compliance/kyc-kyb-and-beneficial-ownership-reporting.md).
* The DAO LLC's source and use of funds.
* Where the DAO LLC and its members physically operate, and whether an acceptable proof of address (usually a bank or utility statement) is available for those locations.

### Read more about passing KYC/KYB as a Marshall Islands DAO LLC [here](/getting-bank-exchange-and-other-tradfi-accounts/passing-kyc-kyb-with-banks-exchanges-and-other-tradfi-providers.md).

### Check out our recommended banks and other fintech providers [here](/getting-bank-exchange-and-other-tradfi-accounts/recommended-banks-and-fintechs.md).

#### Many projects choose not to open a bank account at all, especially if they also have a DevCo, OpCo, or LabCo in a more traditional form (such as a Delaware C-Corp) that can conduct banking on behalf of the whole project.


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://docs.midao.org/getting-bank-exchange-and-other-tradfi-accounts.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.