Applying to Mercury, need new advice and also for EMI for LLC

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jay12

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May 30, 2020
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I had an old thread but didnt ask something important, im only apply now.
I have a few initiatives, a small SaaS being developed, agency b2b services and working as a B2B affiliate getting commissions and freelancer/consultant.
The initial income is likely to be the from the agency retainers and B2B commissions first.

Thing is would it be a problem to mention multiple businesses like this for my application or just focus on 1 and generally moving forward can my LLC and Mercury account function as an enttiy that manages multiple ventures and receives funds for different things?

I dont see why not but just want to check the best way to apply to Mercury, for example if I apply as the SaaS and I then start getting consulting/freelancer payment will there be a problem?
If i apply as consultant and start getting digital product sale income (planned later this year) from Stripe would that be an issue as it mismatches the original application or does it not matter what changes later in terms of income sources?

PS Now that I have my LLC are there any other EMI's recommended as the best now to use as an international account like Wise but for doing many transactional business, regular income,, expenses, cards etc, good for a digital nomad?
Airwallex right? What's best EMI account for an LLC or a non US or EU citizen, avail worldwide?

Thank you.
 
jay12 said:
Thing is would it be a problem to mention multiple businesses like this for my application or just focus on 1 and generally moving forward can my LLC and Mercury account function as an enttiy that manages multiple ventures and receives funds for different things?
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Don't merge several different businesses into one entity. That will create a lot of troubles in the future.

If you have three distinct business activities that you want to pursue at the same time, form three separate entities.

jay12 said:
I dont see why not but just want to check the best way to apply to Mercury, for example if I apply as the SaaS and I then start getting consulting/freelancer payment will there be a problem?
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Yes, there will be problems (eventually).

jay12 said:
If i apply as consultant and start getting digital product sale income (planned later this year) from Stripe would that be an issue as it mismatches the original application or does it not matter what changes later in terms of income sources?
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Yes, it will be an issue.

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This is the probably the answer to your question.
 
I don't think it would cause you a problem, they rarely ask for anything. But you can just create another LLC, it's like $150 and you can have the two businesses transactions separated and be "safer"
 
Sols said:
Don't merge several different businesses into one entity. That will create a lot of troubles in the future.

If you have three distinct business activities that you want to pursue at the same time, form three separate entities.


Yes, there will be problems (eventually).


Yes, it will be an issue.
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Great thank you. Just keep things clean and separate, makes sense.
 
Maybe a little bit late to the party; but if it is still worth:
You can find various suitable options for a US LLC in discussions here US neo-banks List [For Non-Residents LLCs] and here Mercury, TryNovel, or something else?.
In addition:
I am not sure whether Airwallex is mentioned there but it is really worth considering.
Especially for some use-cases, Bancoli can help as well.
You can try Levro, too.

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
 
jay12 said:
Much appreciated
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You are welcome.

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--------------------------------------------------------------------------------------------------------------------------------------

I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
 
clemens said:
Airwallex has shown to be stable for many members around here during the last 3 - 4 years. Not many complaints there have been with them.
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How much figures can handle?

Mercury you can build your empire through it until you move to a real bank if its needed

Be note that there are a lot have a headache from some real banks in US
 
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