My Mercury Business Account Has been restricted

[Octagon]

Today I received a sad message from mercury

Hello,

We're writing to inform you that we can no longer offer you services at Mercury.

We've identified your account for closure due to a breach of our Terms of Service and/or your Deposit Account Agreement. Any remaining funds in your account will be retained for approximately 90 calendar days.

Our decision will remain final unless new information emerges or there are any changes in circumstance. We appreciate your understanding and will aim to address this matter as promptly as possible.

Thank you,

I really don't know what is the issue.

My account is only being used to receive ACH payments from multiple paypal accounts. Each PayPal is linked to a sub account.

I don't know if that is the reason or not. I don't know why would this cosider an illegal activity.

I would appreciate if anyone can give me a hint on what is going on recently with this bank.

 

[Alexmorgan]

Today I received a sad message from mercury



My account is only being used to receive ACH payments from multiple paypal accounts. Each PayPal is linked to a sub account.

I don't know if that is the reason or not. I don't know why would this cosider an illegal activity.

I would appreciate if anyone can give me a hint on what is going on recently with this bank.

Paypal + Mercury = account closed

Mercury is good bank but they surprised alot of people like you but at least they are way better than wise and some real big banks in US

 

[Octagon]

Paypal + Mercury = account closed

How do you know such thing?

This is the first time I hear this quote

Paypal + Mercury = account closed

Mercury is good bank but they surprised alot of people like you but at least they are way better than wise and some real big banks in US

Do you think If I had a chase business account with subaccounts would that work?

 

[Alexmorgan]

Do you think If I had a chase business account with subaccounts would that work?

About chase i really don't know

But its a great bank anyway and it can be more open in regulations than EMIs but you need to ask the experts here about chase

 

[bubbledouble]

My account is only being used to receive ACH payments from multiple paypal accounts. Each PayPal is linked to a sub account.

So you get payments to your Mercury account from multiple PayPal accounts? why multiple paypal accounts, normally you have one account?

 

[Octagon]

So you get payments to your Mercury account from multiple PayPal accounts? why multiple paypal accounts, normally you have one account?

Multiple businesses, each has its own PayPal account. and I don't need separate companies for each niche.

 

[Clank]

You are not supposed to link to your PayPal any other bank account other than the one with the same name. You will get restricted everywhere.

You need a bank account for each of your companies, you can’t use one for all of them.

 

[bubbledouble]

Multiple businesses, each has its own PayPal account. and I don't need separate companies for each niche.

Sounds already not like a regular business behavior, so don't be surprised that they closed your account.

 

[canadaboy]

i wont comment on reasons, but if you ask for additional time before closing they will grant it. gave me 45 days.

 

[Clank]

i wont comment on reasons, but if you ask for additional time before closing they will grant it. gave me 45 days.

Not in his case as he was using the account breaking the terms and doing possible fraud.

He got his funds retained.

 

[yngmind]

The thing is, with the multiple PayPal accounts, as you said, they are for different businesses.

Mercury approved only one of your businesses, but you process payments for other businesses through different PayPal accounts, so you were restricted.

You won't have any issues with Chase, you can contact me, I will help you with the Chase bank account.

 

[canadaboy]

Not in his case as he was using the account breaking the terms and doing possible fraud.

He got his funds retained.

oh, i am bad at reading.