Mercury Bank Rejected Me

[Alexmorgan]

Dear Members

I got rejected by mercury for one of my new companies

While i have an account with them for my main company but they rejected my new company for unknown reasons

What you advice me to do in this case as i dont wanna go for other banking providers?

 

[JohnnyDoe]

Usually this happens when you don’t provide a good enough description of your business, including a decent website, a business plan, data of your partners/clients etc.

 

[Alexmorgan]

Usually this happens when you don’t provide a good enough description of your business, including a decent website, a business plan, data of your partners/clients etc.

I did provide all that and yet i got rejected

I already have an account with them for my main company

Do you recommend me reapply again?

 

[JohnnyDoe]

I did provide all that and yet i got rejected

I already have an account with them for my main company

Do you recommend me reapply again?

If you provided all that and they rejected you it means they don’t like your business, it will be useless to retry. You could try with levro.

 

[Alexmorgan]

If you provided all that and they rejected you it means they don’t like your business, it will be useless to retry. You could try with levro.

Its the same business as the main company i have which have an account with them

Did this happen with you?

 

[JohnnyDoe]

Its the same business as the main company i have which have an account with them

Why did you need to duplicate it? This is a red flag

Did this happen with you?

No and I have 6 accounts with Mercury

 

[Alexmorgan]

Why did you need to duplicate it? This is a red flag

Because I wanna move the whole business of the main company to this company as its better naming and to be with International clients and wanted the main first company only for US clients as its required from me from mercury

 

[JohnnyDoe]

Because I wanna move the whole business of the main company to this company as its better naming and to be with International clients and wanted the main first company only for US clients as its required from me from mercury

It doesn’t make sense.
You can register a dba for your main company, and you can use it for both us and international clients.

 

[Alexmorgan]

It doesn’t make sense.
You can register a dba for your main company, and you can use it for both us and international clients.

Its taxation purposes

The new will be just for international as i wanted 0 taxes on it

And the main old i wanna make it for US clients and to be taxed normally and maybe open an office in US soon

The DBA game is something that wont fulfill all that

Do you reapply will give the same result?

 

[BeyondBorders]

Its taxation purposes

The new will be just for international as i wanted 0 taxes on it

And the main old i wanna make it for US clients and to be taxed normally and maybe open an office in US soon

The DBA game is something that wont fulfill all that

Do you reapply will give the same result?

Did you mention the plan to use this Entity for Non-US Clients within your application? This might have been your red flag. Mercury requires to read about US-related business activities.

 

[Alexmorgan]

Did you mention the plan to use this Entity for Non-US Clients within your application? This might have been your red flag. Mercury requires to read about US-related business activities.

Actually no

I registered it like i did with the first company

But in the question of do i have US clients i choose the second one which is ( I dont have US Clients but planning for it in the next 6 months)

Do you think this option i choose is what made it rejected?

 

[Marzio]

I dont have US Clients but planning for it in the next 6 months

Having US clients doesn't make your company tax resident so tell them that you do. Pay somebody in US to buy something from you.

 

[Alexmorgan]

Having US clients doesn't make your company tax resident so tell them that you do. Pay somebody in US to buy something from you.

I guess i will say yes then

But have it worked with someone before on reapplying with mercury?

 

[Marzio]

Since you stated "I dont have US Clients but planning for it in the next 6 months" before reapplying show them a receipt from a US client so you can tell "I told you that i was going to have US clients soon"

BTW they could still reject you if the lack of US clients wasn't the reason for rejecting you.

 

[BeyondBorders]

Actually no

I registered it like i did with the first company

But in the question of do i have US clients i choose the second one which is ( I dont have US Clients but planning for it in the next 6 months)

Do you think this option i choose is what made it rejected?

Likely a reason for rejection.

 

[Alexmorgan]

Thank you gentlemen

I guess i will reapply again avoiding the mistakes done before

I hope they accept they are the only reliable banking provider at moment

 

[Marzio]

they are the only reliable banking provider at moment

Did you try relay?

 

[Alexmorgan]

Did you try relay?

I didnt yet because they cant handle 7 to 8 figures yearly income as i know

Mercury is working fine with me on that level with my main company

 

[Alexmorgan]

I reapplied again

If they rejected me that's mean its about my nationality and my residency country

Then its about time before they close the main company account in that case

 

[Alexmorgan]

Thank you for your advices

Got approved last Tuesday

I was insisted on them because they dont have monkeys with them so they deal on the way that professional banks do

There are some real banks that are not even close to the professionalism of Mercury