My Mercury Business Account Has been restricted

Octagon · Sep 16, 2024

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 · Sep 17, 2024

Octagon said:
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 · Sep 17, 2024

Paypal + Mercury = account closed

How do you know such thing?

This is the first time I hear this quote

Alexmorgan said:
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 · Sep 17, 2024

Octagon said:
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 · Sep 17, 2024

Octagon said:
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 · Sep 17, 2024

bubbledouble said:
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 · Sep 17, 2024

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 · Sep 17, 2024

Octagon said:
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 · Sep 17, 2024

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

Clank · Sep 17, 2024

canadaboy said:
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 · Sep 17, 2024

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 · Sep 17, 2024

Clank said:
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.

Houdini · Oct 27, 2024

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

Did they released your funds or at least unrestricted your account again ?

My Mercury Business Account Has been restricted

Octagon

Active Member

Alexmorgan

Octagon

Active Member

Alexmorgan

bubbledouble

Octagon

Active Member

Clank

bubbledouble

canadaboy

New member

Clank

yngmind

canadaboy

New member

Houdini

Merchant Account expert

My Mercury Business Account Has been restricted

Active Member

Active Member

Active Member

New member

New member

Merchant Account expert

Privacy & Transparency

Privacy & Transparency