Mercury requires US Operations

[slade991]

Not necessarily for proof of us business.

You can send them an invoice from stripe and see how it works.

If the invoice is on the name of your business they will consider it as proof of operation.

We sent them a reseller contract and that worked as well.

Proof of funds is different but for proof of US operation it just mean you have some kind of relation with the US, supplier or customer etc..

You can always try anyway, worst case scenario they don't accept it and ask you again.

 

[ilke]

Looks like they may have some regulatory issues (or at least concerns) that lead them to becoming strict. Most US BaaS banks have gone through FDIC consent orders already. Definitely worrysome for foreigners making use of US LLCs. Hardly any online banks/Fintech programmes backed by US banks want to touch them already.

Mercury is seemingly planning to limit (or potentially even offboard) customers from a couple of large jurisdictions, see CEO statement below.

 

[12345]

Looks like they may have some regulatory issues (or at least concerns) that lead them to becoming strict. Most US BaaS banks have gone through FDIC consent orders already. Definitely worrysome for foreigners making use of US LLCs. Hardly any online banks/Fintech programmes backed by US banks want to touch them already.

Mercury is seemingly planning to limit (or potentially even offboard) customers from a couple of large jurisdictions, see CEO statement below.

View attachment 7327

Croatia is considered high risk now ?

 

[Alexmorgan]

Croatia is considered high risk now ?

Add Malta to it too

Besides some Caribbean islands

 

[JackAlabama]

Croatia is considered high risk now ?

yeah whats wrong with Croatia? Never heard them hitting the compliance bs bingo jackpot. Apparently they did

 

[Alexmorgan]

Looks like they may have some regulatory issues (or at least concerns) that lead them to becoming strict. Most US BaaS banks have gone through FDIC consent orders already. Definitely worrysome for foreigners making use of US LLCs. Hardly any online banks/Fintech programmes backed by US banks want to touch them already.

Mercury is seemingly planning to limit (or potentially even offboard) customers from a couple of large jurisdictions, see CEO statement below.

View attachment 7327

I know this heaven is going to off soon

But if place dead there is always another that gonna be life in it

UAE dead and soon US

There is a potential in Oman and Bahrain then others later

Anyway Mercury is a great Bank and if you see they are calmly pushing you to match the regulations that they are forced to follow in order to keep them in market

 

[12345]

Apparently Croatia was grey listed

https://www.reuters.com/world/financial-crime-watchdog-adds-croatia-grey-list-countries-under-scrutiny-2023-06-23/

 

[JackAlabama]

Apparently Croatia was grey listed

https://www.reuters.com/world/financial-crime-watchdog-adds-croatia-grey-list-countries-under-scrutiny-2023-06-23/

true that. And they are still on it.

"Black and grey" lists

The FATF identifies jurisdictions with weak measures to combat money laundering and terrorist financing in two FATF public documents that are issued three times a year and that are frequently referred to as the "black and grey" lists.

www.fatf-gafi.org

 

[Mike Forman]

Here is the complete list with all prohibited countries to open a Mercury account.

Mercury | Banking for Startups

A complete financial stack to build your company. Scale with FDIC-insured bank accounts, debit and credit cards, and 3-click payment flows.

app.mercury.com

If you have a Mercury account and the ubo is from one of those countries you can't transfer funds anymore outside of the US and you get a notification the account will be closed within 30 days.

If the money can't be withdrawn within that period or you don't have another account in the US they will send a cheque to the registered address of your LLC.

Mercury isn't that great

 

[Alexmorgan]

Here is the complete list with all prohibited countries to open a Mercury account.

Mercury | Banking for Startups

A complete financial stack to build your company. Scale with FDIC-insured bank accounts, debit and credit cards, and 3-click payment flows.

app.mercury.com

If you have a Mercury account and the ubo is from one of those countries you can't transfer funds anymore outside of the US and you get a notification the account will be closed within 30 days.

If the money can't be withdrawn within that period or you don't have another account in the US they will send a cheque to the registered address of your LLC.

Mercury isn't that great

There is no wow bank in US generally

But Mercury is the best option until now