Mercury

Mercury is a US fintech banking platform built for startups, ecommerce companies, SaaS businesses, and remote teams that want a modern operating account without walking into a branch. It is not a bank. Banking services are provided through partner banks, including Choice Financial Group and Column N.A., which are Members FDIC.

For non-resident founders, the key detail is eligibility. Mercury supports US companies founded by people living outside the United States, but the business itself must be formed and registered in the United States or a US territory. You also need existing or planned US operations and a real principal business address. A registered agent address, PO box, or UPS Store address is not enough.

That makes Mercury a strong fit for Wyoming LLCs and Delaware C Corps. It does not work as a direct banking option for a UK Ltd, Hong Kong Limited, Singapore Pte Ltd, Panama corporation, Paraguay SRL, Bermuda company, or other non-US entity unless the founder also forms a supported US company.

The application is online. No US branch visit is required, and non-US founders can apply with an international passport.

What you need:

• US formation document, such as Articles of Organization, Articles of Incorporation, or Certificate of Formation
• IRS-issued EIN document, such as CP575, 147C, or the returned SS-4
• Government ID for each 25%+ beneficial owner and one person with operating control
• Legal business name, industry, business description, source of funds, and expected activity
• A physical principal place of business, either commercial or residential
• Details about current or planned US operations

For a simple Wyoming LLC or Delaware C Corp with a clear website, clean ownership, EIN letter, and founder passport, approval can be fast. Complex holding structures, vague business models, high-risk industries, or weak address documentation can slow the process or lead to rejection.

Mercury is stricter than many founders expect because it sits on US banking rails. The product feels lightweight, but onboarding is still bank-grade KYC and AML review.

The most common friction points:

• No clear US operations or credible plan to operate in the US
• Principal business address is only a registered agent, PO box, or mailbox provider
• Founder lives in a prohibited or sanctioned country
• Business model falls into restricted categories such as MSB activity, adult entertainment, cannabis, internet gambling, or trusts
• Ownership chain is unclear, especially when another company owns part of the US entity
• Transaction activity does not match the business description given at application

Mercury collects beneficial ownership information for anyone who owns 25% or more of the company, directly or indirectly. If a holding company owns the US business, Mercury still asks you to trace ownership up to the real individuals.

FDIC coverage is also worth reading carefully. Mercury itself is not FDIC-insured because it is not a bank. Deposits in checking and savings accounts are held by partner banks and may be eligible for up to $5M in FDIC insurance through sweep networks, subject to pass-through insurance conditions. Treasury is different: Mercury Treasury funds are not FDIC-insured deposits and are instead covered by SIPC limits if the brokerage partner fails.

Mercury works best as the primary USD operating account for a US entity.

• Wyoming LLCs use it for Stripe payouts, client payments, contractor ACH, USD wires, SaaS subscriptions, and debit cards. For solo consultants, agencies, and ecommerce operators, this is often the first serious US banking setup after the EIN arrives.
• Delaware C Corps use it for startup operations: investor wires, payroll funding, vendor payments, approval flows, virtual cards, accounting sync, and runway management. Funded startups may later add Brex, Ramp, or a traditional bank, but Mercury is usually enough at the beginning.

The clean stack for many non-resident founders is Mercury for USD banking, Stripe or Paddle for payments, and Wise Business or Airwallex for non-USD receiving and FX. Mercury is not the best account for holding and receiving many local currencies. It is best when the business has a US entity and wants reliable USD rails.