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Mercury bank account, approval advice please from those who applied

jay12

jay12

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May 30, 2020
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#1
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I will be setting up a new mexico llc (as a non US resident/citizen) directly with one of the well know registered agents, seems much more affordable then one of the popular setup companies.

(Apparently new mexico it has some benefits like cheaper yearly cost and no yearly reports but still has privacy, anybody have any reason to advise against new mexico and go for wyoming or elsewhere instead?)

Anyways it seems mercury bank is pretty much the only one that can do everything im going to need for my plans and im nervous about messing it up and getting rejected, I have one chance.
I've asked them but they wont give me any details on if my situation would be fine or not of course, i just have to appy and see. Could you offer any advice on these points below

1. Is it better to go with one of the more costly services that include mercury bank setup to ensure an account or is there no reason applying myself should be a problem?
Is this one of those things where if the service provider has connections you are more likely to get approved so its "worth the extra cost" to get approved?

2. Basically the account will be for my llc to offer marketing services, consulting, freelancing but mostly be earning income referral/affiliate commissions income from US clients around $30k plus pm currently.

Would this type of business, affiliate biz, be a problem for Mercury? I see people get rejected and not sure why, is it easy to get rejected or only if you doing something like crypto or adult stuff etc or other risky stuff?
Anybody get easy approval with this kind of "affiliate" business? Any better way to "present it"?

Any important requirements or issues you experienced when applying, what caused issues or rejection, any advice?

PS: I am concerned about a lot of these neo banks and EMI's and sending a lot of funds through them due to stories of funds getting held or taken etc, im a little paranoid.
Would Mercury be the safest bet due to FDIC insurance, i dont need to worry about funds getting stolen or held?

Or are there other good options now like mercury or better, i dont see any?

Thanks
 
Last edited:
#2
jay12 said:
1. Is it better to go with one of the more costly services that include mercury bank setup to ensure an account or is there no reason applying myself should be a problem?
Is this one of those things where if the service provider has connections you are more likely to get approved so its "worth the extra cost" to get approved?
Click to expand...
No: there are no real introduction services to Mercury. You must handle the whole procedure by yourself through the app.
jay12 said:
2. Basically the account will be for my llc to offer marketing services, consulting, freelancing but mostly be earning income referral/affiliate commissions income from US clients around $30k plus pm currently.
Click to expand...
Setup a decent website and LinkedIn profile and you will be fine
 
#3
jay12 said:
I will be setting up a new mexico llc (as a non US resident/citizen) directly with one of the well know registered agents, seems much more affordable then one of the popular setup companies.

(Apparently new mexico it has some benefits like cheaper yearly cost and no yearly reports but still has privacy, anybody have any reason to advise against new mexico and go for wyoming or elsewhere instead?)

Anyways it seems mercury bank is pretty much the only one that can do everything im going to need for my plans and im nervous about messing it up and getting rejected, I have one chance.
I've asked them but they wont give me any details on if my situation would be fine or not of course, i just have to appy and see. Could you offer any advice on these points below

1. Is it better to go with one of the more costly services that include mercury bank setup to ensure an account or is there no reason applying myself should be a problem?
Is this one of those things where if the service provider has connections you are more likely to get approved so its "worth the extra cost" to get approved?
Click to expand...

Just apply your self its free no need to open by using others help and as Jhonny said do website and good linkedin then you have good chance



jay12 said:
2. Basically the account will be for my llc to offer marketing services, consulting, freelancing but mostly be earning income referral/affiliate commissions income from US clients around $30k plus pm currently.
Click to expand...
Marketing and consulting is your company work and mostly US clients


jay12 said:
PS: I am concerned about a lot of these neo banks and EMI's and sending a lot of funds through them due to stories of funds getting held or taken etc, im a little paranoid.
Would Mercury be the safest bet due to FDIC insurance, i dont need to worry about funds getting stolen or held?
Click to expand...
Mercury is even better than some banks just be legit and do incoices and you will be fine


jay12 said:
Or are there other good options now like mercury or better, i dont see any?
Click to expand...

No EMI as good as Mercury except if you go to real banks
 
#4
JohnnyDoe said:
No: there are no real introduction services to Mercury. You must handle the whole procedure by yourself through the app.

Setup a decent website and LinkedIn profile and you will be fine
Click to expand...
Excellent thanks for confirming, this helps my peace of mind

Alexmorgan said:
Just apply your self its free no need to open by using others help and as Jhonny said do website and good linkedin then you have good chance




Marketing and consulting is your company work and mostly US clients



Mercury is even better than some banks just be legit and do incoices and you will be fine




No EMI as good as Mercury except if you go to real banks
Click to expand...
Super appreciate it, this is what I wanted to hear, ill go ahead then thank you
 
#6
Alexmorgan said:
Just apply your self its free no need to open by using others help and as Jhonny said do website and good linkedin then you have good chance




Marketing and consulting is your company work and mostly US clients



Mercury is even better than some banks just be legit and do incoices and you will be fine




No EMI as good as Mercury except if you go to real banks
Click to expand...
how complicated are they to apply for account opening for Wyoming LLC ?
 
#8
Do you need to do consulting, or can I use Mercury for a SaaS company as well?
I also just realized in Wyoming that most of the (cheap) Agents Services share the same address, wonder if that's a problem too.
 
#9
mad1max said:
Do you need to do consulting, or can I use Mercury for a SaaS company as well?
I also just realized in Wyoming that most of the (cheap) Agents Services share the same address, wonder if that's a problem too.
Click to expand...
You can use for a SaaS company as well; it is even better. Being pro-technology companies, Mercury and Brex typical clients are SaaS companies :)
 
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#12
Alexmorgan said:
Not that complicated

But they take long time it took me 2 weeks
Click to expand...
That's okay for an account opening if they don't have that many ridiculous questions as some of these neobanks have.
 
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Reactions: Alexmorgan
#15
belarus said:
And they approved your account ? well if website and linkedin is only requirement otherwise, I could do this fast.
Click to expand...
They approved it yes. I have a legit business and showed my social media linked to the business . I don’t have domain or LinkedIn . Wasn’t a problem . For website I just wrote my instagram acocunt …
 
#16
jay12 said:
I will be setting up a new mexico llc (as a non US resident/citizen) directly with one of the well know registered agents, seems much more affordable then one of the popular setup companies.

(Apparently new mexico it has some benefits like cheaper yearly cost and no yearly reports but still has privacy, anybody have any reason to advise against new mexico and go for wyoming or elsewhere instead?)

Anyways it seems mercury bank is pretty much the only one that can do everything im going to need for my plans and im nervous about messing it up and getting rejected, I have one chance.
I've asked them but they wont give me any details on if my situation would be fine or not of course, i just have to appy and see. Could you offer any advice on these points below

1. Is it better to go with one of the more costly services that include mercury bank setup to ensure an account or is there no reason applying myself should be a problem?
Is this one of those things where if the service provider has connections you are more likely to get approved so its "worth the extra cost" to get approved?

2. Basically the account will be for my llc to offer marketing services, consulting, freelancing but mostly be earning income referral/affiliate commissions income from US clients around $30k plus pm currently.

Would this type of business, affiliate biz, be a problem for Mercury? I see people get rejected and not sure why, is it easy to get rejected or only if you doing something like crypto or adult stuff etc or other risky stuff?
Anybody get easy approval with this kind of "affiliate" business? Any better way to "present it"?

Any important requirements or issues you experienced when applying, what caused issues or rejection, any advice?

PS: I am concerned about a lot of these neo banks and EMI's and sending a lot of funds through them due to stories of funds getting held or taken etc, im a little paranoid.
Would Mercury be the safest bet due to FDIC insurance, i dont need to worry about funds getting stolen or held?

Or are there other good options now like mercury or better, i dont see any?

Thanks
Click to expand...
Do you mind sharing the registered agent you use ?
 
#17
Piano said:
Do you mind sharing the registered agent you use ?
Click to expand...
Sorry didn't see this, not sure why I cant DM you, used newmexicoregisteredagent.com, they are great, bit expensive for EIN so used a guy on Fiverr but my SS-4 document ended up sent to the agents address and they logged it my documents section on the agents system so all my docs are there inc EIN even tho i didnt get one through them, so its really nice backend and to have all the stuff in the same place, recommended
 
#18
jay12 said:
Sorry didn't see this, not sure why I cant DM you, used newmexicoregisteredagent.com, they are great, bit expensive for EIN so used a guy on Fiverr but my SS-4 document ended up sent to the agents address and they logged it my documents section on the agents system so all my docs are there inc EIN even tho i didnt get one through them, so its really nice backend and to have all the stuff in the same place, recommended
Click to expand...


If you late with Mercury then you are too late
 
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