How to Open a Bank Account with Mercury

In this video, Arjun, CEO of doola, walks you through the process of opening a bank account with Mercury. He provides a step-by-step guide, from entering your email to verifying your identity and submitting necessary documents. Arjun explains how to navigate the Mercury platform, detailing each requirement for US and non-US residents. By the end of the video, you'll understand how to set up your account, upload formation and EIN documents, and ensure compliance with federal regulations. Watch to get a comprehensive guide on opening a Mercury bank account for your business.
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[@TickTickBoom358]

This is one of the best videos I've seen about setting up a Mercury Bank account. I hope I get approved as long as I am not an US-citizen

[@doolaHQ]

thanks 💛

[@abdennour_ben4078]

what happend with you ? did they approved you?

[@TickTickBoom358]

Hey man, actually yes. The process was very smooth. Mercury allows you to use a foreign address outside your of USA. You need a proof of residence like the a pic of a PDF format of an utility bill where it shows the foreign address and your name 😎

[@yosanmelese1793]

3:49 for company address, It only allows US and US territories. it also gives a tip "This can be found in the documents you received when your company was formed." So this should be the address of the registered agent although you specifically mention not to do this? I have already formed LLC and got EIN using doola. The Company adrress page is in general very different from the page in the video. The company adrress seems to be asking for the registered agent address, and then below there are addresses for personal addresses that allow outside US address

[@doolaHQ]

hey if you still need help you can email us at [e-mail]

[@ScottJLetourneau]

Great video! Mercury for the company's physical address (not likely in the U.S.) will require verification documents for the 'physical address' (the IDs). They call it the Whitelist Validation Documents. (Passport, bank statement, utility bill).

[@doolaHQ]

Thanks for sharing 💛

[@migueladdias]

Hello, Very nice video! At some point of the process, the mercury requested a SSN. I thought this number isn't necessary to open a bank account. I´m saying this, because I´m not a us citizen and I don't have the SSN.

[@doolaHQ]

Hey, you can open a mercury account as long as you have an existing or planned operations in the US and have an EIN number. However, there are some restrictions on founders living in certain countries - you can find that list on their FAQs page linked in the description.

[@randomraidor]

Where do you live brother? Do you still face the SSN issue or EIN worked?

[@SupportOnlineTeam]

How can you add an administrator other than you? please help

[@doolaHQ]

Hey, you can try these steps: Log into Your Mercury Account: Use your admin credentials to access the Mercury platform. Navigate to the Team Management Section: Click on the Team page located in the main menu. This section allows you to manage team members and their roles. Add a New Team Member: Look for an option like Add Team Member or Create New User. Click this option to begin adding a new administrator Enter User Information: Fill in the required details for the new administrator, such as their name, email address, and any other necessary contact information. Assign Permissions: When prompted, select the appropriate role for the new user. Ensure that you assign them as an administrator or a role with similar permissions that allow them to manage account settings and users Send Invitation: After entering all necessary information and assigning permissions, send an invitation for the new administrator to join your Mercury account. They will receive an email prompting them to set up their account Confirm and Save Changes: Make sure to save any changes made during this process. You may need to confirm the addition of the new user or log out and back in to see the updates reflected in your account If you still need help, consider reaching out to mercury support 💛

[@kirohisham6003]

What do I need to provide to the bank and taxes (virtual mailing address or virtual business address)? What is the best site to get it?

[@doolaHQ]

Hey, it''s best to reach out to Mercury support for this one if you still need help

[@JenniferCiri]

Hello there my wise Business account just closed now im thinking to open mercury account to receive payment form the Facebook page payouts.

[@saad8601]

worst idea mercury close anytime lost almost 20 account in 6 months

[@osminda3144]

ur better off with relay

[@JenniferCiri]

@@osminda3144 they offer checking a account?

[@doolaHQ]

Hey, have you reached out to Mercury?

[@selimduman5361]

Hi, for a 2 member llc should we choose llc or partnership? Thank you!

[@doolaHQ]

It all depends on you as there are pros and cons, book a free consultation with us to know more www.doola.com/free-consultation/

[@husker123ify]

Do i need SSN?

[@doolaHQ]

To open a bank account with Mercury, you do not need a Social Security Number (SSN). Mercury primarily caters to startups and foreign founders, making it accessible even if you don't have an SSN. If you still need help with this, you can book a free consultation with us here: bit.ly/3Zdckik

[@shelby9118]

Is sending money internationally going to affect my acceptance have an account ?

[@randomraidor]

Did you got the answer?

[@doolaHQ]

while international money transfers alone are unlikely to prevent you from opening a Mercury account, it's best to reach out to Mercury support if you have more questions.

[@osminda3144]

well that's bunch of bull still got rejected lol

[@doolaHQ]

Have you tried reaching out to Mercury support?