What is Mercury Bank
Mercury is a fintech bank operating on the infrastructure of Choice Financial Group and Evolve Bank & Trust (FDIC-insured). It is positioned as a bank for startups and technology companies. Mercury offers free business banking, virtual and physical debit cards, ACH/Wire transfers, and a developer API.
The key advantage: Mercury accepts non-US residents provided they have a registered US company.
Requirements for Non-Residents
- A registered US company (Delaware LLC/C-Corp, Wyoming LLC, etc.)
- EIN (Employer Identification Number) from the IRS
- Valid foreign passport of the owner
- A US address for a registered agent
- The business must have real activity (not an empty shell)
Mercury does not require an SSN, ITIN, or US residential address for the owner.
Limitations for Non-Residents
Mercury periodically tightens its policies. In 2025–2026, the following restrictions have been observed:
- Higher rejection rates for high-risk countries (Russia, Belarus, Iran, North Korea — full ban)
- Possible account freeze for suspicious activity without warning
- Limits on international Wire transfers at the start
- Requirement to justify transactions during review (enhanced due diligence)
Step-by-Step Opening Instructions
- Register a US company — via Stripe Atlas, Doola, Firstbase, or on your own.
- Get an EIN — file Form SS-4 with the IRS (online or by fax). Timeline: 2–8 weeks.
- Go to mercury.com — click "Open Account" and select your business type.
- Fill out the KYB form — enter company data, upload Articles of Organization/Incorporation, Operating Agreement.
- Complete owner verification — upload your passport, specify ownership percentage (UBO).
- Wait for a decision — usually 2–5 business days. Mercury may request additional documents.
- Activate your account — upon approval you'll receive an email with a login link.
FAQ
What to do if Mercury rejects your application? Try Relay Financial or Brex — they also work with non-residents. Alternatively, you can reapply after 3–6 months with a more detailed description of your business.
Are there fees at Mercury? The basic plan is free: no minimum balance, no maintenance fee. International Wire transfers cost $20 outgoing (Mercury Basic) or are free on the Mercury Pro plan ($35/month).
Can Mercury freeze a non-resident's account? Yes. Mercury is a fintech, not a traditional bank, and its compliance procedures can lead to sudden freezes. It is recommended to have a backup account (e.g., at Relay or Wise Business).