Do you actually need a website to open a business EMI account?

[j1mesb0nd]

My business doesn't really need a website because I deal with my clients directly through direct contacts. I explained that to Mercury while creating my account and they declined me after 2 hours from the application. So do I need to create a website in order to increase the chance of getting approved?

Last edited: Sep 13, 2024

 

[Sols]

If your business activities do not necessitate a website, it's not a required expectation that you have a website. However, having a website can make it easier for compliance people to just tick a checkbox and move on to the next thing.

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This is the probably the answer to your question.

 

[Debrog]

Mercury declined my application with a website this week so maybe it's something else

 

[dany]

Nowadays, in 2024 and soon 2025, every business has a website, so it looks very strange if you say you're running a business but don't have one. I can understand why online banks are declining your application. It costs just a few hundred dollars to get a top professional website made, so make sure you get it done.

 

[SCHLOSSFINANZ]

yes a basic website with standard information helps for sure

 

[DeepDrilling]

j1mesb0nd said:
My business doesn't really need a website because I deal with my clients directly through direct contacts. I explained that to Mercury while creating my account and they declined me after 2 hours from the application. So do I need to create a website in order to increase the chance of getting approved?
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Did you get your account opened with them ?

 

[Clearsky Network]

j1mesb0nd said:
My business doesn't really need a website because I deal with my clients directly through direct contacts. I explained that to Mercury while creating my account and they declined me after 2 hours from the application. So do I need to create a website in order to increase the chance of getting approved?
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It is not mandatory for traditional banking, but for EMI its pretty obvious that every online business should have a website. In case you dont have a website, an EMI will require a comprehensive business description, agreement with potential partners and a very detailed business plan.

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[xnpu]

Make the life of the application reviewer as easy as possible by having your business simply 'tick all the boxes'. Is it strictly required? Probably not. But why invite the additional scrutiny?

 

[brianK]

xnpu said:
Make the life of the application reviewer as easy as possible by having your business simply 'tick all the boxes'. Is it strictly required? Probably not. But why invite the additional scrutiny?
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True, to get a business website to show the bank or any other entity isn't complicated nor expensive, why not just make one and you have less troubles.

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Winners never quit and quitters never win....

 

[JackAlabama]

j1mesb0nd said:
My business doesn't really need a website because I deal with my clients directly through direct contacts. I explained that to Mercury while creating my account and they declined me after 2 hours from the application. So do I need to create a website in order to increase the chance of getting approved?
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yes, you can have a good looking one by getting a wordpress template.
Bank monkeys dont get sophisticated design anyway. 😉