bluebanc.com alternative mercury for usa llc

[jovicremo]

hi recently mercury closed my business account because they blacklisted the philippines which is where I currently live, so at the moment I managed to open an account with BlueBanc, what do you think?

 

[jafo]

hi recently mercury closed my business account because they blacklisted the philippines which is where I currently live, so at the moment I managed to open an account with BlueBanc, what do you think?

These are questions that require the banking expertise and financial due diligence of @Sols , @Martin Everson or @Forester (and some others I can't remember now...it's almost 2 am... cut me some slack )

 

[cyprusbanker]

More or less a reseller / white label providing services from Sutton Bank.

accountholder's funds held at Sutton Bank.

 

[daniels27]

Send they bought the domain from hugedomains sometimes between 2019 and 2021.
https://web.archive.org/web/20190717133052/http://bluebanc.com/
Then launched their initial offer.
https://web.archive.org/web/20211220055242/https://bluebanc.com/
Veteran owned but very little information about them. But hey, at least they supported the invasion you went to street against.

A new website came a bit later with some other offering and many coming soons.
https://web.archive.org/web/20220624175657/http://bluebanc.com/
They then recently relaunched again. But it is far from final. The about us link does not work and the contract leads to a pure form. I cannot find pricing. They issue via cards starting with almost any digit.

Even when the funds are held at an insured bank, I would not open it unless to test it due to lack of alternatives. You can expect frequent changes or even closure is the business.

Most fintechs like Mercury partner with insured banks and have offerings surrounding those of their underlying partners and with better conditions. But the question is if they can scale and automate enough in order to support the competitor offer. For Mercury, it meant to exclude certain businesses recently in other to automate compliance to the required level. PNC also dropped all international corporates they acquired through the BBVA purchase.

 

[Martin Everson]

what do you think?

I don't touch anything American. But let us know how it goes anyway.

 

[Forester]

More or less a reseller / white label providing services from Sutton Bank.

Perhaps I would not call them so, as the customer seems to have no ties to Sutton Bank, I would call them a fintech backed by Sutton Bank. It can be considered being a detail; but see below.

Generally I agree with @daniels27, adding that what I consider really untrustworthy is the fact that nowhere at the website, even not in the Terms & Conditions, you can find the identification of the legal subject that is doing business as BLUEBANC. Simply, Mr. Nobody is offering you to open an account with him.

 

[ilke]

Perhaps I would not call them so, as the customer seems to have no ties to Sutton Bank, I would call them a fintech backed by Sutton Bank. It can be considered being a detail; but see below.

Generally I agree with @daniels27, adding that what I consider really untrustworthy is the fact that nowhere at the website, even not in the Terms & Conditions, you can find the identification of the legal subject that is doing business as BLUEBANC. Simply, Mr. Nobody is offering you to open an account with him.

Exactly. The business name is listed as BlueBanc LLC on social medias, and the headquarter location as Texas. There is not such an entity registered in Texas. Of course, it is possible that it is registered instead in a more anonymous US state, and only the actual people are in Texas.

However, it is definitely suspicious that there is not a listed entity nor a specific US state listed on the site + ToS.