How to buy crypto using mercury.com

[reviac]

I'm using mecury.com as banking service for my LLC. Is it safe to wire money from mecury.com to my personal account on kraken.com? I don't want to get flagged or have my account disabled.
FYI, I tried using the debit card, but transactions always fail, nothing show-up on my mercury.com dashboard. Is mercury.com really crypto friendly?

For everyone using mercury.com, how do you buy crypto?

 

[JohnnyDoe]

I'm using mecury.com as banking service for my LLC. Is it safe to wire money from mecury.com to my personal account on kraken.com?

You can’t do that. You need to open a kraken account for your LLC.

 

[reviac]

So you need to setup a business account on kraken.com and it's all good? Also don't mind me, but from where did you get this information?

 

[JohnnyDoe]

So you need to setup a business account on kraken.com and it's all good?

Yes

Also don't mind me, but from where did you get this information?

I have been doing this myself for a long time

 

[reviac]

Yes

I have been doing this myself for a long time

Understood, thanks a bunch!

 

[ivan1911]

@JohnnyDoe
A quick question for you Sir , when you’re filling your tax forms for the llc , money sent to kraken is considered as money paid to yourself ? Correct ?

Thank you

 

[JohnnyDoe]

@JohnnyDoe
A quick question for you Sir , when you’re filling your tax forms for the llc , money sent to kraken is considered as money paid to yourself ? Correct ?

Thank you

No, the money is just transferred to another account belonging to the LLC.

 

[saintjohnny]

Yes

I have been doing this myself for a long time

Do you have to upload the wire receipt every time you send from Mercury to Kraken? Kraken always ask me for it before the funds clear.

 

[JohnnyDoe]

Do you have to upload the wire receipt every time you send from Mercury to Kraken? Kraken always ask me for it before the funds clear.

No. Perhaps you have an address mismatch?

 

[EliasIT]

Usually transfer from kraken to any EMI allowing crypto from exchanges are going smooth for me. Never got asked anything.

 

[reviac]

Usually transfer from kraken to any EMI allowing crypto from exchanges are going smooth for me. Never got asked anything.

Yes, I've already moved money from Mercury to Kraken business account using Wire transfer. Very smooth, not questions.

One small note to be aware of for ppl reading this, is to not wire the same amount multiple times, because then Kraken system will flag it as "duplicate" and you'd have to contact support to add the funds to your account.

 

[bonox]

Kraken is the most reliable service I ever have been using for the last 5 years. Nothing can compare to them. The support, the smooth process, just everything is cool with this company!

 

[moneyGeek]

No, the money is just transferred to another account belonging to the LLC.

Hey Johnny, if we have different branches of the company in different countries, can we transfer big wires between each other? Mainly from my US LLC to my branch in home country, the company name is exactly same.

Thank you

 

[aage]

Why would you not be able to do that ?

 

[JohnnyDoe]

Hey Johnny, if we have different branches of the company in different countries, can we transfer big wires between each other? Mainly from my US LLC to my branch in home country, the company name is exactly same.

Thank you

If it’s really a branch and you can justify the transfer with the banks, no problem.
If it’s just a different company with the same name, you need to be careful with this old trick

 

[moneyGeek]

If it’s really a branch and you can justify the transfer with the banks, no problem.
If it’s just a different company with the same name, you need to be careful with this old trick

Technically they're different companies with the same name, same owner.

Also, if you can shed a light on any service that helps to establish new branches in different country for our US LLC? I'm super newbie in this, sorry for these silly questions.

 

[JohnnyDoe]

Technically they're different companies with the same name, same owner.

Also, if you can shed a light on any service that helps to establish new branches in different country for our US LLC? I'm super newbie in this, sorry for these silly questions.

It’s not difficult, just contact service providers in the desired countries.

 

[Dubsize]

out of curiosity - how much you guys transferring from mercury to kraken?
wondering from which amount they would start questioning...