Step By Step Mercury Bank Account Guide (Updated 2024)

This Step By Step Mercury Bank Account Guide is updated frequently to reflect all the changes happening with Mercury Bank and US banking regulations.

The latest update was made on 21st September 2024.

Click "I want this!" to get your copy now!

Founders usually reach out to me after their Mercury bank account applications have been rejected. They reach out to me when they are on the back foot.

After rejection, they need help with how to get in touch with Mercury, how to find out the reasons for rejection, how to reapply, and more, for their applications to be approved.

After the 1st rejection, founders get worried and start overthinking about the problems they will face without a US bank account. It worsens if you are on a timeline and need to share your bank details with your clients urgently.

Founders should ideally have all the information and an understanding of the process overview before they apply so they can submit a high-quality and accurate application.

You have to make it easy for the onboarding team at Mercury to approve your application and that can be done when there are no mistakes in your application and you have checked all the boxes they need.

So I decided to write this detailed and step-by-step guide that will:

• Give you an overview of the entire process with screenshots.
• Give you the common reasons for rejection that you have to avoid.
• Give examples to ensure you submit a high-quality application.
• Significantly improve your chances of approval in the first time.
• Give you actionable next steps on how to get your application approved once it is rejected for the 1st time.
• Get you a US business bank account with Mercury making your life easy in running your US business.

THIS GUIDE IS FOR YOU IF:

• You need a US bank account for your US Company.
• Without a US bank account, is there no point in incorporating your US company.
• Without a US bank account, you cannot run your business smoothly.

• You want to get a full overview of the process (I have attached screenshots) BEFORE you apply for your Mercury bank account so you are fully prepared with the information and documents you need.
• You don't want any last-minute surprises or confusion.
• You want to know the do's and don'ts, the common reasons for rejection, where others make the most mistakes, and what you should be careful about.
• Your Mercury bank account application has been rejected once and you want to re-apply after finding out the reasons for rejection.

Here's everything you get in Step By Step Mercury Bank Account Guide:

1. About Mercury Bank            
2. Why Mercury Bank?
3. Benefits of a Mercury Bank Account   
4. Disadvantages of a Mercury Bank Account
5. Super Important Links
6. Other Important Links
7. Requirements for your bank account application
8. Step-by-Step Guide (Detailed Steps with Screenshots and Guidelines)
9. Common Rejection Reasons and Criteria
10. Bank Account Application Rejected (1st time) - 6 Step Process to Have Your Bank Account Approved. The process is tested and works.
11. Contact Mercury - Email IDs of specific members of their onboarding, customer support and partnership teams. While others use general email IDs available in public domain, you get to reach out to specific folks from the right teams at Mercury to have your account approved because you have purchased this guide. (This guide is an investment to get a US bank account so you can do business smoothly in the US. It also gives you access to specific team members that other's cannot have, so you're paying for peace of mind to get a fully functional bank account + cost to get in touch with the right people at the right time).
12. Change in Business Information

THIS GUIDE IS NOT FOR YOU IF:

• If your Mercury application has been rejected thrice or more. The chances of your application being accepted after 3 rejections are negligible and hence I do NOT recommend purchasing this guide.
  • If your Mercury application has been rejected thrice or more, grow your business in the US to have more suppliers, clients, employees, partners, revenue, and expenses in the US, update your social media profiles, and get some social media coverage if possible (though not mandatory) and then re-apply for a Mercury bank account.
  • The gap between a rejection and reapplication should be a minimum of 6 months. When you decide to re-apply after growing your business, that would be the right time to come back to purchase and make the most of this guide so apply accurately and more confidently.
  • In the meantime, you can open a bank account with other banking service providers like Airwallex, Payoneer, or Wise. (P.S. Airwallex is offering a $500 bonus sign up for clients who sign up through my partner link. If you need the partner link to sign up, email me at remotebusinesslife@gmail.com).
• If you are a founder residing and operating in the following countries and regions, Mercury will not be able to open a US bank account for you. Afghanistan, Albania, Belarus, Bosnia & Herzegovina, Burundi, Cambodia, Cameroon, Central African Rep, Democratic Republic of the Congo, Congo, Croatia, Cuba, Eritrea, Haiti, Iran, Iraq, Korea (North), Lebanon, Libya, Liberia, Mali, Mozambique, Myanmar (Burma), Nicaragua, Nigeria, Pakistan, Palestine, Philippines, Russia, Somalia, South Sudan, Sudan, Syrian Arab Republic (Syria), Ukraine, Venezuela, Yemen, Zimbabwe.
• If you are a founder operating in the following industries or businesses, Mercury will not be able to open a US bank account for you. Adult Entertainment Businesses, Money Service Businesses, Controlled Substances, Counterfeit Goods, Cryptocurrency Mining, Cryptocurrency FBO/MTL Activity, Personal Use (businesses with no customers or services or products), Shell Corporations, Trusts, Businesses that frequently deal with physical cash.
• If you find the price expensive, this guide is not for you. There is a cost to do business and you have to pay that cost. If you are starting a US company and cannot spend a small amount to purchase this guide a US bank account, but you are operating with a scarcity mindset so getting success in your business is difficult. Money pulls money.

Here is a screenshot from my Mercury Bank Account so I have the account myself and I know the exact process required to open it which I have shared with you in this guide.

Best way to use this Guide:

1. Read the full guide first and re-read it, if you have any confusion.
2. Prepare all the documents and information required for the application in advance.
3. 30-45 minutes to peacefully complete the full application, including the selfie verification process.

Regular Updates and up-to-date Information

This guide is regularly updated to reflect:

1. Changes in the Onboarding and Application Process of Mercury.
2. Changes in the list of acceptable and non-acceptable information and documents.
3. Changes in Risk and Acceptance Policies and Parameters of Mercury.

For the most current, accurate, and reliable version of this guide, ensure that you purchase it from this official page only. Acquiring the guide from any other sources may result in receiving outdated or incorrect information. The author bears no responsibility for any content obtained from unauthorized sources or for any actions taken based on such information.

Important Disclaimers:

• I do not work at Mercury and I do not approve or reject your application.
• Purchasing this guide does not 100% guarantee you a Mercury bank account and that your application will be approved.
• If you need a guarantee that your bank account application will be approved after purchasing this guide, this guide is NOT for you.
• There are no refunds if, after purchasing this guide, your bank account application is not approved, because this guide does not guarantee your bank account. It provides you an overview of the process with screenshots, significantly increases the chances of your application being approved, shows you what you need to be prepared with, helps you submit a high-quality application, helps you avoid the common reasons for rejection, and shows you remedies to extract the reasons for rejection (in case your application is rejected) so you can successfully reapply.

Founders who have used this guide have written back to me with very positive feedback. Their Mercury bank account applications were approved within 1-3 days and sometimes even on the same day, though that is rare.

About Me

I am a US CPA with more than 6+ years of experience and I have helped, consulted and assisted 5000+ founders (US Residents and Non-Residents) from around the world in launching their US Business. I provide founders with guidance on everything they need for their US companies, including but not limited to the following:

• Incorporation and Registered Agents
• EINs
• US Bank Accounts
• Bookkeeping
• State and Federal tax filings and compliances
• Tax consultations
• Tax Forms (W8, W9, 1099 etc)
• Payment Processor Accounts
• ITINs
• KYC Processes and Physical Addresses
• BOI Filings
• State Wise Sales Tax
• Global Tax Savings
• Business Consultancy
• Legal Agreements and more.

Questions or Thoughts regarding this guide or any of the above topics?

Reach out to me at hello@remotebusinesslife.com.

Need Help? Have Questions?

If you have any questions or confusion about the contents of the guide, reach out to me at hello@remotebusinesslife.com from the same email ID used to purchase this guide, so I can verify your identity as a confirmed purchaser and reply to you, within 24-48 hours.

If you reach out to me from another email ID which I cannot verify as a confirmed purchaser, I will not be able to reply to you.

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Notice: For the most current, accurate, and reliable version of this guide, please ensure that you purchase it exclusively from my official page. Acquiring the guide from any other sources may result in receiving outdated or incorrect information. The author bears no responsibility for any content obtained from unauthorized sources or for any actions taken based on such information.

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