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Karat is available to U.S. based businesses. Whether you’re just getting started or already operating as a structured company, you can apply. To open a Karat account, your business must be formed and registered in the United States or a U.S. territory. If you are not incorporated, you may still apply as a sole proprietor. For Karat Banking, you do not need to live in the United States or be a U.S. citizen. International founders with a U.S. business entity are welcome to apply, provided they are not located in countries restricted by our banking partners. During your application, you can enter a home address in any country, though your business address must remain in the United States. See Company address requirements for details.

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International payout recipients

If you have only received payouts through Karat as an international recipient (without a U.S.-based business entity), you are not eligible to apply for Karat Banking or the Karat Card. Both products require valid U.S.-based information and a U.S.-based business entity. When applications are unavailable for this reason, your dashboard will display a message explaining the restriction in place of the application flow. Karat Banking and the Karat Card are separate products and require separate applications. If you would like access to both, you’ll need to submit an application for each product. Once you’re approved for one product, you can use the one-click apply flow in your dashboard to confirm your information and apply for the second product. Karat is a fintech company, not an FDIC-insured bank. Banking and Card services provided by Grasshopper Bank, N.A., First Internet Bank of Indiana, and Cross River Bank, Members FDIC.