Mercury Rejected me.. Alternative?

[Ciropollo]

Hello,
I feel very disappointed, I follow all skim but anyway bad news.. Rejected..

What alternatives there are? Wise is good but there is not card and I cant connect to kraken for having BTC.

 

[Marzio]

Why do the rejected you? Did they give any explanation?

 

[extremedox101]

Hello,
I feel very disappointed, I follow all skim but anyway bad news.. Rejected..

What alternatives there are? Wise is good but there is not card and I cant connect to kraken for having BTC.

relayfi

none of them are crypro freiendly

 

[startfleetio]

what's your nature of business? and did you submit a website?

 

[Ciropollo]

Why do the rejected you? Did they give any explanation?

No any explanation

what's your nature of business? and did you submit a website?

well i did a really simple website selling web design and seo services (no ecommerce was more consulting website) but nothing. Anyway was good, chat for support tawk, well written.. No idea.. Maybe they wanted to see and ecommerce?

What i did was:
- Non VPN
- Residental place I putted my real one (in EU) maybe this one trigged something? Was better to put the PO address?

If I'll do a new a company now and make application again would be problem i believe because my name is like "in the not approved one"?

thanks for any help

relayfi

none of them are crypro freiendly

But with relayfi can I make later Kraken account for sending btc to my real account?
Or wise?

What to say, many thanks who help me.

thanks

 

[MiddleEuroAsia]

You might ask, Why did they reject you! Ask yourself these questions.
do you have a functional website? a privacy policy? terms and conditions? Faq? contact form? do you have a US business address (not virtual) with a US phone number on your website?. Did you tell them that you will serve US clients/suppliers/businesses...etc.?

If your answer to my above questions is no, then you need to work on your website and business first, then apply to a bank account. Also if you deal with anything related to crypto, then don't look for US neo banks, they have no appetite whatsoever for unregistered crypto businesses, and you better look for other options like Bankera, advcash...etc. who work with crypto-related companies.

Having said that, there are other neo banks like mercury such as:

https://relayfi.com/https://www.brex.com/https://www.trynovel.com/https://ramp.com/
(Ramp is more like a corporate card (better than brex in some cases), and not a bank account, for ramp you need to have a business account (any of the above could work), have a 75k in your business account and most of your business spending in the US such as hosting, marketing...etc)

But seriously, you need to work on your business first and then apply for a bank account, otherwise, no neo bank will onboard you and you will have to travel to the US to find a solution.

 

[Ciropollo]

You might ask, Why did they reject you! Ask yourself these questions.
do you have a functional website? a privacy policy? terms and conditions? Faq? contact form? do you have a US business address (not virtual) with a US phone number on your website?. Did you tell them that you will serve US clients/suppliers/businesses...etc.?

If your answer to my above questions is no, then you need to work on your website and business first, then apply to a bank account. Also if you deal with anything related to crypto, then don't look for US neo banks, they have no appetite whatsoever for unregistered crypto businesses, and you better look for other options like Bankera, advcash...etc. who work with crypto-related companies.

Having said that, there are other neo banks like mercury such as:

https://relayfi.com/https://www.brex.com/https://www.trynovel.com/https://ramp.com/
(Ramp is more like a corporate card (better than brex in some cases), and not a bank account, for ramp you need to have a business account (any of the above could work), have a 75k in your business account and most of your business spending in the US such as hosting, marketing...etc)

But seriously, you need to work on your business first and then apply for a bank account, otherwise, no neo bank will onboard you and you will have to travel to the US to find a solution.

Well firstly thank you for your answer. About website is all as you said, business address is a PO address, i dont have any real one. US phone number is a skype one, included in website. I of course said that all my clients are from US. For me problem is or they didn't saw any ecommerce and so they dont work without knowing exactly price and producst you sell but "web design agency is too much various". Or they need to see that your residental place is in USA.

Banker and advcash i suppose they will not go well with us company right?

 

[uplana]

Try with AdvCash they are flexible in nature, have a card and you can use it with any company you want.

 

[startfleetio]

Try with AdvCash they are flexible in nature, have a card and you can use it with any company you want.

Does AdvCash support US LLC?

 

[Ciropollo]

Try with AdvCash they are flexible in nature, have a card and you can use it with any company you want.

Hi, but you advice to make this AdvCash under LLC name or my name?

thanks

 

[OffshoreDurian]

Well firstly thank you for your answer. About website is all as you said, business address is a PO address, i dont have any real one. US phone number is a skype one, included in website. I of course said that all my clients are from US. For me problem is or they didn't saw any ecommerce and so they dont work without knowing exactly price and producst you sell but "web design agency is too much various". Or they need to see that your residental place is in USA.

Banker and advcash i suppose they will not go well with us company right?

I created my LLC for a online marketing company. The website looked professional with a good domain/name. I said that *some* of our customers are from the US, which is why I am applying. Also had a ‘real’ adress + US phone number matching the area code (delaware). I also had social media accounts set up. Basically everything so that it looks like a real business with lots of paying clients. They didn’t approve me right away, but asked me to answer a few more questions and I was approved. As MiddleEuroAsia said, you need to work on your website and your digital footprint.

 

[gnud]

I think the issue is that your clients need to be US based. I told them my clients are in the US exclusively, I have no social media presence, no website, got approved without a problem.

 

[MiddleEuroAsia]

I think the issue is that your clients need to be US based. I told them my clients are in the US exclusively, I have no social media presence, no website, got approved without a problem.

Good for you, you lucked out, after some time, they can and will start investigating your invoices and where are they coming from if you started to receive large amount of money, I had some talks with some interesting folks last week and they told me that these challenger banks (mercury, novel...etc) will start cracking down on businesses that has no affiliation to the US.

So I suggest that, If you still don't want to serve US clients, at least use US services as much as you could, that way you have a reason when they start asking you why you need an account with them, how your business operates and why it operates this way.

 

[gnud]

Good for you, you lucked out, after some time, they can and will start investigating your invoices and where are they coming from if you started to receive large amount of money, I had some talks with some interesting folks last week and they told me that these challenger banks (mercury, novel...etc) will start cracking down on businesses that has no affiliation to the US.

So I suggest that, If you still don't want to serve US clients, at least use US services as much as you could, that way you have a reason when they start asking you why you need an account with them, how your business operates and why it operates this way.

Well I was telling the truth. My clients are really exclusively in the US. Just saying that could be the reason for rejection.

 

[MiddleEuroAsia]

Well I was telling the truth. My clients are really exclusively in the US. Just saying that could be the reason for rejection.

Then, you have nothing to worry about .

If I have any advice for you, it will be to try using other services like the one I mentioned above in this thread, you never know what could happen and diversifying in general is not a bad idea.

 

[gnud]

Then, you have nothing to worry about .

If I have any advice for you, it will be to try using other services like the one I mentioned above in this thread, you never know what could happen and diversifying in general is not a bad idea.

In fact I'm planning to drop them for Wise because I'll be sending money abroad, and I'd like the transfers to be exact in the local currency.

 

[MiddleEuroAsia]

In fact I'm planning to drop them for Wise because I'll be sending money abroad, and I'd like the transfers to be exact in the local currency.

Why dropping them? you can send ACH transfers from them to wise directly without dropping them, at least your money in mercury and the likes is insured, and you can use wise for it's intended purpose only - cheap money transfers.

 

[wellington]

ood but there is not card and I cant connect to

Wise have a card...

 

[gnud]

Why dropping them? you can send ACH transfers from them to wise directly without dropping them, at least your money in mercury and the likes is insured, and you can use wise for it's intended purpose only - cheap money transfers.

I'm not going to keep much money in the account, just to cover expenses, the rest will go to a brokerage account.

 

[MiddleEuroAsia]

I'm not going to keep much money in the account, just to cover expenses, the rest will go to a brokerage account.

I mean mercury is basically free. 0 monthly fees, 0 transfer fees, no minimum balance required and top of that, your money is insured, there are 0 negatives and lots of positives, while wise, only has the advantage of cheap money transfers, that it. Plus you can transfer the money from mercury to your brokerage account if you want to.
But you do you i guess