Can you detail your operation a little, so we can try to identify︊ the reason for closing the account? Did you receive local or international inbound/outbound transfers? What︋ is the monthly average?
Mercury Bank Verification after 3 years
- Thread starter berseker
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WE are a legitimate company, we sell surgical instruments, and we only used mercury this month to pay salary to one of our employee in south asia. we also passed the compliance , where they asked for several documents, and we provided everything. Monthly is 30k $
Did you receive the questionnaire a few months ago, whether you had operations within the US? Did you answer yes or no?
how did you use the account in the past?
Where do you pay taxes?
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
our income was coming from Amazon in 2021, we use to sell on amazon at the time, and after that, it was pretty much unused, as we were using other bank account, (business wise) until only a couple ofmonths ago we started using Mercury, to pay employees outside usa, since wise does not allow transfer to those countries.
source of funding the account was CEO himself, +Amazon income. (directly from Amazon)
source of funding the account was CEO himself, +Amazon income. (directly from Amazon)
This might be a reason: payments to physical persons are not well viewed, especially when sent abroad.
Did you try to talk with customers support?
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
yes, i did, i even asked if i violated any TnC , which i dont think i did,
this is their reply:
We review each account thoroughly and take a holistic view of your account and business information. Closure decisions are based on a variety of internal factors.
I know this may be frustrating, but we are unable to provide more detailed information regarding the reason your account was closed and we aren't able to︀ reconsider.
We are sorry for any inconvenience that this may cause.
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I am really︁ bummed out, i really dont understand why they did it, can you recommennd any similar︂ bank that charges almost no fee for transfers?
this is their reply:
We review each account thoroughly and take a holistic view of your account and business information. Closure decisions are based on a variety of internal factors.
I know this may be frustrating, but we are unable to provide more detailed information regarding the reason your account was closed and we aren't able to︀ reconsider.
We are sorry for any inconvenience that this may cause.
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I am really︁ bummed out, i really dont understand why they did it, can you recommennd any similar︂ bank that charges almost no fee for transfers?
That's very unfortunate and annoying.
I think your best bet is to open the account with a high street bank, for which you need to show up in person at a suitable branch. Chase in NY and BMO in Chicago worked well for me, someone here suggested a specific branch of a bank in Miami, I guess there are many other options.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
You can always bargain, they might also offer some type of account that is good for you. But for sure you will pay more than with Mercury.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
If we make a new LLC under the same CEO , can we then make a new mercury account.
Also can you please provide a blueprint how to properly use a business bank account, to avoid such situations.
You are experienced, perhaps you can give me some pointers.
Thanks.
@JohnnyDoe
Also can you please provide a blueprint how to properly use a business bank account, to avoid such situations.
You are experienced, perhaps you can give me some pointers.
Thanks.
@JohnnyDoe
Which countries were your employees from? If wise didn't allow transfers to these countries, Mercury probably wouldn't have been satisfied with them either, that could have been the problem.
This is scary
I pay salaries for emplyees abroad but they are in UK and EU but i may hire people from Saudi Arabia and India and this is allowed with Mercury so why they may close it?
Yes big banks are great but bad User Interface and some times they require you︃ to come in person for transactions to be approved besides they close accounts some times︄ but for sure not like EMIs
As you are a partner in Mercury its good︅ if you ask them why they may close accounts for legit companies that have SOF︆ and invoices and contracts?
Thats the different between Mercury and Wise︉
Wise clearly says its not allowed to transfer to these accounts but mercury make it︊ open then you surprise from the actions they make later
One day i made a︋ payment to a company in Oman then i triggered compliance to provide them everything
I pay salaries for emplyees abroad but they are in UK and EU but i may hire people from Saudi Arabia and India and this is allowed with Mercury so why they may close it?
Yes big banks are great but bad User Interface and some times they require you︃ to come in person for transactions to be approved besides they close accounts some times︄ but for sure not like EMIs
As you are a partner in Mercury its good︅ if you ask them why they may close accounts for legit companies that have SOF︆ and invoices and contracts?
Thats the different between Mercury and Wise︉
Wise clearly says its not allowed to transfer to these accounts but mercury make it︊ open then you surprise from the actions they make later
One day i made a︋ payment to a company in Oman then i triggered compliance to provide them everything
No if the business is the same
You can use it for legit business expenses, just be careful with payments to private individuals outside the US, especially if located in unusual countries.
if your account remains dormant for 2 years then suddenly you send money to Oman this doesn't look good.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
You can make 500 transfers to the EU and just 1 worth $10 to Oman. This will raise a flag anyway
Do you have any customer or partner in the USA?
You must have missed it. Everyone is supposed to have answered it.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Relay closed my account after I sent $50 to my mercury account . Same llc .. Wanted ti test the wire as I never sent using relay before . After that I got a similar email .
Told the rep I can provide invoice for transactions I had . Provide tracking numbers , chats with customers and they reply basically similar … internal policy bla bla and now I don’t have that account any more .
Told the rep I can provide invoice for transactions I had . Provide tracking numbers , chats with customers and they reply basically similar … internal policy bla bla and now I don’t have that account any more .
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