Mercury Bank Review
Complete guide to Mercury bank for US LLCs. Features, fees, how to open an account, and why it's our top recommendation for non-residents.
Mercury is a modern bank built with the requirements and expectations of digital companies in mind. Accounts can be opened completely online, and registration is possible even for non-US residents.
The main strengths of Mercury are its elegant user-friendly interface, low and straightforward fee structure, the option for multiple physical as well as virtual debit cards, sub-accounts, and solid user management.
We recommend Mercury as the primary bank for most foreign-owned US LLCs.
What is Mercury?
Mercury was founded in April 2019 by Immad Akhund, Max Tagher, and Jason Zhang. It's backed by top-tier investors including Andreessen Horowitz.
"As an entrepreneur, I felt the pain of dealing with incumbent banks. I was very frustrated with the lack of basics like transparency in customer service. I wanted to fix something for myself." — Immad Akhund, Founder
Mercury provides banking services through Evolve Bank & Trust (FDIC insured).
Key Features
FDIC-Insured Business Checking
- Standard checking account with FDIC insurance up to $250,000
- Up to 14 sub-accounts, each with its own account number
- Savings accounts available with competitive interest rates
Modern Interface
Mercury has an excellent user experience—similar to Stripe or other modern fintech apps. The mobile app provides full access to your account. Two-factor authentication is supported.
Cards & Payments
- Physical debit cards — Visa debit cards shipped worldwide
- Virtual cards — Create up to 50 virtual cards for online purchases
- Team cards — Issue cards to employees with spending limits
- ACH & Wire transfers — Send and receive domestic and international wires
Team Management
- Add team members with role-based permissions
- Approval workflows for large transactions
- Expense tracking and categorization
Fees
Mercury has a simple, transparent fee structure:
| Service | Cost |
|---|---|
| Monthly fee | $0 |
| Incoming ACH | Free |
| Outgoing ACH | Free |
| Incoming domestic wire | Free |
| Outgoing domestic wire | $5 |
| International wire | $20 |
| Physical debit card | Free |
| Virtual debit card | Free |
How to Open an Account
- Apply online — Complete the application at mercury.com
- Submit documents — Upload your Articles of Organization, EIN letter, and ID
- Wait for approval — Usually 1-3 business days
- Fund your account — Transfer funds via ACH or wire
Required Documents
- Articles of Organization (or Certificate of Formation)
- EIN Verification Letter (CP 575)
- Government-issued ID (passport)
- Proof of address (utility bill or bank statement)
- Operating Agreement
Tips for Approval
Mercury reviews applications manually. To improve your chances:
- Have a clear business purpose — Describe what your company does
- Use a professional email — Avoid free email providers if possible
- Have a website — Even a simple landing page helps establish legitimacy
- Ensure documents match — Company name and address should be consistent
Pros & Cons
Pros: - Fully remote account opening - No monthly fees - Excellent user interface - Virtual cards for online purchases - Sub-accounts for organization - Good customer support
Cons: - No cash deposits - No physical branches - International wires are $20 each - Limited integrations compared to traditional banks
Our Verdict
Mercury is the best banking option for most foreign-owned US LLCs. The combination of remote account opening, modern interface, and straightforward fees makes it the obvious choice for international entrepreneurs.
For receiving international payments in multiple currencies, consider adding a Wise Business account as a complement to Mercury.
Need help opening a Mercury account? Our LLC Formation package includes banking guidance to help you get set up.