Mercury Bank Review
Complete guide to Mercury for non-resident LLC owners. Features, pricing tiers, how to open an account, and why it's the top choice for foreign-owned US businesses.
By Chris Natterer · Last updated March 24, 2026
Mercury is a fintech banking platform built for startups and digital businesses. Accounts can be opened entirely online, and — crucially for international entrepreneurs — non-US residents can apply with just their LLC documents and a passport.
I recommend Mercury as the primary business bank for most foreign-owned US LLCs. It’s what the majority of my clients use.
What is Mercury?
Mercury was founded in 2019 and has grown to serve over 300,000 entrepreneurs, processing $20B+ in monthly transaction volume. It’s not technically a bank itself — banking services are provided through Choice Financial Group and Column N.A., both FDIC members.
Your deposits are insured up to $5 million through their sweep network (standard FDIC is $250K — Mercury spreads your funds across multiple partner banks to extend coverage).
Pricing Plans
Mercury introduced tiered pricing. The free plan covers everything most LLC owners need.
| Mercury (Free) | Mercury Plus | Mercury Pro | |
|---|---|---|---|
| Monthly cost | $0 | $29.90 | $299 |
| Checking & savings | Included | Included | Included |
| Bill pay | Free, unlimited | Free, unlimited | Free, unlimited |
| International wires (USD) | Free (SHA) or $15 (OUR) | Same | Same |
| Invoicing | Basic | ACH debit + recurring ($1/tx) | Unlimited, API access |
| Expense reimbursement | Up to 5 users | Up to 20 users | Up to 250 users |
| Relationship manager | No | No | Yes |
For most non-resident LLC owners, the free plan is all you need. The paid tiers are designed for growing teams with invoicing and expense management needs.
Key Features
FDIC-Insured Business Checking
- Free checking with no minimum balance
- Up to 14 sub-accounts, each with its own account number
- Savings accounts with competitive interest rates
- Up to $5M FDIC coverage through sweep network
IO Credit Card
Mercury’s IO Mastercard is a standout feature:
- 1.5% unlimited cashback on all spending
- No annual fee, no interest charges
- No personal guarantee — based on your Mercury balance, not your credit score
- No credit check that impacts personal credit
- Builds US business credit (reports to Experian, Equifax, Dun & Bradstreet)
- Issue team cards with spending controls
You start with daily auto-pay terms. Once your balance reaches $15,000, you unlock 30-day payment terms. This is valuable for non-residents who typically can’t get US credit cards.
Cards & Payments
- Physical debit cards — Visa cards shipped worldwide
- Virtual cards — Create up to 50 for online purchases and subscriptions
- ACH transfers — Free incoming and outgoing
- Domestic wires — Free incoming, $5 outgoing
- International wires — Free with SHA (shared fees), $15 with OUR (you pay all fees)
- Currency conversion — 1% fee for non-USD (negotiable above $200K)
Treasury
If your LLC holds significant cash, Mercury Treasury invests idle funds through J.P. Morgan and Morgan Stanley, currently earning up to 3.67% APY. Requires a $250,000 minimum balance.
Accounting Integrations
- QuickBooks, Xero, and NetSuite integrations
- AI-powered transaction categorization
- Receipt automation
- This matters for Form 5472 compliance — clean books make annual filing much easier
How to Open an Account as a Non-Resident
The entire process is online. No US visit required.
- Apply at mercury.com — Takes about 10 minutes
- Submit documents — Upload everything digitally
- Wait for review — Usually 1-5 business days
- Fund your account — Via wire transfer from your home country bank
Required Documents
- Articles of Organization (or Certificate of Formation) from your LLC state
- EIN Verification Letter (CP 575 from the IRS)
- Operating Agreement — Single-member LLC template is fine
- Government-issued ID — Passport (not a national ID card)
- Proof of address — Utility bill, bank statement, or government letter from your home country
Tips for Getting Approved
Mercury reviews applications manually, and they do reject some. Non-residents face slightly more scrutiny. To improve your chances:
- Describe your business clearly — “I run a freelance software development consultancy” is better than “consulting”
- Have a website — Even a simple one-page site at your domain helps establish legitimacy
- Use a professional email — yourname@yourdomain.com, not a Gmail address
- Ensure documents match — Company name, address, and your name should be consistent across all documents
- Apply soon after formation — Banks get suspicious if an LLC has existed for months with no banking activity
If rejected, you can reapply after 30 days. Consider Relay as an alternative — they have a similar profile but sometimes approve applicants Mercury doesn’t.
Limitations for Non-Residents
Be aware of these:
- No cash deposits — Fully digital, no physical branches
- US phone number may be needed — For 2FA verification (see our Tello guide for a $6/month solution)
- Currency conversion fee — 1% on non-USD transactions. For large international payments, use Wise instead and transfer USD to Mercury
- No international ACH — You can only receive ACH from US sources. International clients pay you via wire
- Occasional compliance holds — Mercury may freeze accounts for compliance review. Keep your business activity consistent with what you described in your application
Mercury vs. Other Options
| Feature | Mercury | Relay | Wise Business |
|---|---|---|---|
| Monthly fee | $0 | $0 | $0 |
| FDIC insured | Yes (up to $5M) | Yes (up to $250K) | No |
| Credit card | IO card, 1.5% cashback | No | No |
| Virtual cards | Up to 50 | Limited | Yes |
| Sub-accounts | Up to 14 | Up to 20 | N/A |
| International wires | Free (SHA) | $30 | Via Wise transfers |
| Multi-currency | No (USD only) | No (USD only) | Yes (40+ currencies) |
| Best for | Primary US banking | Profit First budgeting | International payments |
The typical setup I recommend: Mercury as your primary account + Wise Business for receiving international payments in foreign currencies.
Our Verdict
Mercury is the best primary bank for foreign-owned US LLCs. The free plan gives you everything you need — FDIC-insured checking, free wires, virtual cards, and clean integrations with accounting software.
The IO credit card is a genuine differentiator for non-residents. Getting a US credit card is normally impossible without a Social Security Number and US credit history. Mercury’s card bypasses both requirements — it’s based on your account balance, not your personal credit.
The main thing Mercury doesn’t do well is multi-currency. If you receive payments in EUR, GBP, or other currencies, pair it with Wise Business. Mercury handles the USD side; Wise handles the international side.
Need help setting up Mercury for your LLC? Our LLC Formation package includes banking guidance to help you get approved on the first try.
Written by Chris Natterer
Founder of Globalization Guide, helping international entrepreneurs form and manage US companies since 2019.