Mercury Bank Account Guide — Opening a US Business Bank Account
Complete walkthrough for opening a Mercury business bank account as a foreign LLC owner. Covers requirements, application steps, document preparation, and approval tips.
Key Takeaways
- Mercury is free to open — no minimum balance, no monthly fees, no annual fees
- No SSN or ITIN required — supports foreign-owned US companies
- $250 deposit bonus when depositing $10,000 within 90 days (requires referral link)
- Checking + Savings accounts (savings yields 1-2% APY)
- Integrates with Stripe, PayPal, Amazon, Shopify, QuickBooks, Gusto
Why Mercury?
Mercury is a free business banking platform designed for startups and online businesses. It is one of the few US banks that actively supports foreign-owned US companies without requiring an SSN or ITIN. The platform offers an excellent UI/UX, FDIC insurance through partner banks, and seamless integrations with the tools you already use.
Key Benefits
- No minimum balance requirement
- No monthly or annual fees
- Supports non-US residents with US LLCs
- FDIC insured through partner banks (up to $250K)
- Clean, modern user interface
Integrations
- Stripe, PayPal, Shopify, Amazon
- QuickBooks, Gusto
Transfer Fees
- ACH transfers: free
- Domestic wire: $5 per transfer
- International wire: $20 per transfer
Prerequisites
Before you start the Mercury application, make sure you have the following documents ready:
- Certificate of Formation — from your state of formation
- EIN confirmation — SS-4 approval letter or 147C letter from the IRS
- Address proof — matching your LLC formation address (water/electric bill, credit card statement, or HK bank statement)
- Passport — valid, unexpired
Tip: If you registered your LLC via Stripe Atlas, you can access your Certificate of Formation and EIN letter directly from your Atlas dashboard.
Important: Choose the Right Entry Point
Warning:If you registered your LLC via Stripe Atlas, do NOT use the regular Mercury signup link. Instead, go through your Atlas dashboard: Bank → Mercury → Apply. You will still receive the $250 deposit bonus through this path.
If you did NOT register via Stripe Atlas, you must use a referral or invitation link to qualify for the $250 deposit bonus. The bonus requires depositing $10,000 within 90 days of opening the account.
Application Process — Step by Step
Step 1: Create Account
Sign up on Mercury and choose a display name. This is just a nickname for your account — it is not legally binding and can be changed later.
Step 2: Select Interests
Mercury will ask about your interests. This does not affect your approval — pick anything that seems relevant.
Step 3: Company Information
Enter your LLC name, EIN, state of formation, and a brief description of your business activities.
Step 4: Addresses
You will need to provide two addresses:
- Registered agent address — from your formation service
- Principal business address — your actual office or home address (must match your address proof document)
Important: These two addresses are different. Do not confuse your registered agent address with your principal business address.
Step 5: Upload Documents
- Certificate of Formation
- SS-4 approval letter or 147C letter (EIN proof)
Both documents are available from your Stripe Atlas dashboard if applicable.
Step 6: Business Activity
Mercury will ask about your expected first deposit source and revenue timeline. Select the options that best match your business situation.
Step 7: Address Verification
Upload a document proving that your name and address match. Best options:
- HK bank statement (English — highest success rate)
- International driver's license translation
- Utility bill with English translation
Warning: Chinese-only documents often get rejected because Mercury cannot match Chinese characters to your English address. Always add an English translation to Chinese documents before submitting them.
Step 8: Review & Submit
Double-check everything before submitting. Consider making a deposit to accelerate the review process:
- Deposit methods: international credit card, Wise, or PayPal
- With deposit: approval typically takes ~1 day
- Without deposit: approval takes longer
After Approval
Once your application is approved, your Mercury account is ready to use. Here are the key things to set up:
- Bind to Stripe for payment collection
- Explore Mercury's perks/benefits program for startup discounts
- Set up Checking + Savings accounts
- Order virtual and physical cards for business expenses
Account Fees
| Fee Type | Amount |
|---|---|
| Account opening | Free |
| Monthly fee | Free |
| Minimum balance | None |
| ACH transfers | Free |
| Domestic wire | $5/each |
| International wire | $20/each |
| Annual fee | None |
Tips for Approval
- Use English-language address proofs — HK bank statement is ideal
- Ensure name spelling matches exactly across all documents
- Have a professional website ready — Mercury may review it
- Business description should be clear and legitimate
- Don't rush — incomplete applications get rejected
FAQ
Do I need an SSN or ITIN?
No. Mercury supports foreign-owned US companies and does not require an SSN or ITIN to open an account.
Can I open an account from outside the US?
Yes. The entire application process is 100% online. You do not need to visit the US or any physical branch.
What if my application is rejected?
Contact Mercury support. Rejections are often fixable by providing additional documentation or clarifying your business activities.
Can I have multiple accounts?
Yes. Mercury offers both Checking and Savings accounts. You can use both simultaneously.
Is my money safe?
Yes. Mercury accounts are FDIC insured up to $250,000 through their partner banks.