Mercury Bank

[Jump123]

Hi Members, Is anybody able to tell me about their knowledge and experiences of Mercury Bank?

 

[Sols]

To be clear, Mercury itself is not a bank. The banking services are provided by another bank (Evolve Bank & Trust), on top of which Mercury has built a different product.

Have been using them, albeit very lightly, for a while and so far all good.

 

[Jump123]

To be clear, Mercury itself is not a bank. The banking services are provided by another bank (Evolve Bank & Trust), on top of which Mercury has built a different product.

Have been using them, albeit very lightly, for a while and so far all good.

Hi Sols thank you very much for your feedback, I really appreciate you taking the time and effort to reply. I am busy setting up a company with an entity that I have been working for as an affiliate and part of their service includes setting up an account with Mercury too. I am actually interested in using this for myself too. As a person based outside of the USA this is an extremely simplistic system to get out of the ground and operational in a very short space of time for an extremely low cost especially if you convert this cost back to ZAR's. Thanks again though and have a super day further. Stay Safe

 

[StoredValue]

Also interested in their opening procedure. Any video verification? Will they activate the account without the debit card?

 

[Jump123]

Also interested in their opening procedure. Any video verification? Will they activate the account without the debit card?

I have a contact that helps set up a US business and then also sets up the bank account at Mercury too. From what I have so far the Mercury account is legit

 

[Martin Everson]

Also interested in their opening procedure. Any video verification? Will they activate the account without the debit card?

There's some info the below thread when we last discussed Mercury last year (second page of thread).

https://www.offshorecorptalk.com/threads/ubo-reporting-to-eu-for-llc-usa-company.27042/

 

[Jump123]

T

There's some info the below thread when we last discussed Mercury last year (second page of thread).

https://www.offshorecorptalk.com/threads/ubo-reporting-to-eu-for-llc-usa-company.27042/

Thanks a ton Martin, some valuable information

 

[sonato]

Can I ask you @Jump123 if you were able to open an bank account with Mercury and if so what do you think about this EMI (I assume they must be an EMI because they are not a bank) any input would be great appreciated. Hope you are still around

 

[CaptK]

Mercury are good.
I only use as pass through after BOA fucked me over.
Simple to set up and use and no problems yet after 3 years. Account turnover about 50K a month in and out.

 

[hkohli]

Mercury are good.
I only use as pass through after BOA fucked me over.
Simple to set up and use and no problems yet after 3 years. Account turnover about 50K a month in and out.

Hey @CaptK what problem did you face with Bank of america ?

 

[CaptK]

Total wankers. Promised me everything and at the beginning was fine monthly turnover about 300K.
I had some unauthorized payments which they didn't want to refund and I could prove I was not in the US. It was a POS transaction as in the US some places still don't use Chip and Pin.
The subsequent investigation started on me rather than the money.

Unfortunately you are at the mercy of the bank and I to provide all sorts of documents. Fortunately all payments were large and only about 5/6 a month so accounting was easy.
They then ask for IRS documents when they have exhausted all avenues and this is the f**k YOU moment.

IRS are hardwork but as a non resident alien there was not much they could ask me. I completed the forms but as it had just turned physical year they then asked for the last year also. Bearing in mind I had no transactions for 9 months. I opened a Mercury and continued to do business in that no problem.

Eventually they released the funds then when I tried to move the lot out before closing the account it sparked another investigation.
Follow same process as above including IRS eventually they released the funds.

Then they contact me to offer me some fantastic new corporate plan. NO THANKS!!

Mercury has worked fine with no problems all be it turnover is a lot less about 50K per month.

 

[hkohli]

Total wankers. Promised me everything and at the beginning was fine monthly turnover about 300K.
I had some unauthorized payments which they didn't want to refund and I could prove I was not in the US. It was a POS transaction as in the US some places still don't use Chip and Pin.
The subsequent investigation started on me rather than the money.

Unfortunately you are at the mercy of the bank and I to provide all sorts of documents. Fortunately all payments were large and only about 5/6 a month so accounting was easy.
They then ask for IRS documents when they have exhausted all avenues and this is the f**k YOU moment.

IRS are hardwork but as a non resident alien there was not much they could ask me. I completed the forms but as it had just turned physical year they then asked for the last year also. Bearing in mind I had no transactions for 9 months. I opened a Mercury and continued to do business in that no problem.

Eventually they released the funds then when I tried to move the lot out before closing the account it sparked another investigation.
Follow same process as above including IRS eventually they released the funds.

Then they contact me to offer me some fantastic new corporate plan. NO THANKS!!

Mercury has worked fine with no problems all be it turnover is a lot less about 50K per month.

Thanks thats good to know but i have heard similar things about Mercury, some of their client using their cards on platforms on FB ads and the card got declined due to i guess low balance or something and that led to cancellation of their Mercury account.

Anyone has any experience with Relay Financial, i have heard they are better but they also backed by same Evolve Bank & Trust.

 

[tacokai]

Mecury bank has been very good for me actually, it is one of the few banks that accept, let's say, shady business practise. It is not the best online bank but it works for what I need them for and have friends using them afterall.

 

[AMD]

I have a contact that helps set up a US business and then also sets up the bank account at Mercury too. From what I have so far the Mercury account is legit

after all the time are you satisfied with Mecury Bank can you enlight us a little?

 

[ramosmarbella]

How much does it cost to withdraw from ATM in Europe with the Mercury debit card?

 

[tacokai]

How much does it cost to withdraw from ATM in Europe with the Mercury debit card?

is it different from bank to bank? I just withdraw from my local bank in Europe in the ATM, charge is 5 EUR

 

[Jump123]

Mecury bank has been very good for me actually, it is one of the few banks that accept, let's say, shady business practise. It is not the best online bank but it works for what I need them for and have friends using them afterall.

If I may ask are you based in the USA or outside of the USA?

 

[daxbr]

Total wankers. Promised me everything and at the beginning was fine monthly turnover about 300K.
I had some unauthorized payments which they didn't want to refund and I could prove I was not in the US. It was a POS transaction as in the US some places still don't use Chip and Pin.
The subsequent investigation started on me rather than the money.

Unfortunately you are at the mercy of the bank and I to provide all sorts of documents. Fortunately all payments were large and only about 5/6 a month so accounting was easy.
They then ask for IRS documents when they have exhausted all avenues and this is the f**k YOU moment.

IRS are hardwork but as a non resident alien there was not much they could ask me. I completed the forms but as it had just turned physical year they then asked for the last year also. Bearing in mind I had no transactions for 9 months. I opened a Mercury and continued to do business in that no problem.

Eventually they released the funds then when I tried to move the lot out before closing the account it sparked another investigation.
Follow same process as above including IRS eventually they released the funds.

Then they contact me to offer me some fantastic new corporate plan. NO THANKS!!

Mercury has worked fine with no problems all be it turnover is a lot less about 50K per month.

Sounds like you hit them with large transactions the moment acct was opened. Been my experience to age US accounts.

 

[ivan1911]

is it different from bank to bank? I just withdraw from my local bank in Europe in the ATM, charge is 5 EUR

Do you know mercury daily / monthly ATM withdrawal limit ?

Thank you !