Mercury, TryNovel, or something else?

[Ethernity4ever]

Hello everyone,

Recently I opened up an LLC, and I'm in the process of getting a bank account setup.

Now my paranoid self went online and read all kinds of terrible reviews for both Novel and Mercury. Such as accounts getting closed, money being lost, etc.

Mind you that we will be running a legitimate business, no crypto or anything like that. We work on design, software development and things like that.

I need a bank that gives me a physical debit card that I can use on ATM-s without paying a terrible fee.

Does anyone have any feedback on which direction I should go? Or offer a 3rd option that I am unaware of?

Thanks!

 

[ivan1911]

You have globalfy and realyfi as well. I think both offer plastic card.. globalfy has‌ only USA transfers no international yet , but they do offer plastic card.
There might‍ be others but i know only of these two more...

 

[Ethernity4ever]

I also see terrible reviews for Relay as well... I'm just not smart with who‌ to go haha

 

[Simon4466]

Fun life fact: you will always come across negative reviews for banks/EMIs/etc.
Just make sure‌ that the proportions make sense and talk to someone who uses the service. The latter‍ is the best advice in my opinion.

 

[Ethernity4ever]

Yeah I'm guessing‍ I will never find the perfect one,

Right now i'm leaning towards Mercury. I see⁠ many people on here use it and it is the most popular. Just wanted to⁤ check if there are any other alternatives that might be better 😀

 

[ivan1911]

Why not open all and keep a small balance on each... And use one for‌ main.. if they start acting out you use other one... It's better to have more‍ then one banking option ..

 

[Ethernity4ever]

Well for instance in the⁠ case of TryNovel, their "Starter" plan requires at least 2k balance or 1k monthly revenue⁤ or they start charging 10$ a month for fees. I'm not saying it's much, but⁣ it's not ok from their part haha.

 

[ivan1911]

Globalfy , relayfi and mercury don't have min balance.. perhaps⁠ try them for now..

 

[Forester]

+ Zenus
+ Brex
See here US neo-banks List [For Non-Residents LLCs]
Honestly, I do not see anything wrong in it. A maintenance of the⁢ account costs something; and if you bring no or small business, I consider asking for︀ $10 to be fair...

 

[taoasher]

What did you end up going with?
Lots of really bad reviews for Novel..I'm using‌ them for small amounts.

 

[Ethernity4ever]

I went for Mercury in the‍ end. Only had it for about a month, so far so good.

 

[taoasher]

Nice. I'm thinking of using them instead‍ after dabbling around with both. Their Treasury seems pretty great too!

 

[BrettSilverman]

I can vouch for SmallBusinessBank and BofA

 

[JohnnyDoe]

BrettSilverman said:
I can vouch for SmallBusinessBank and BofA
Click to expand...

Can you write a review of SBB? How it works, DD, International wires etc

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[BrettSilverman]

you have to download their app first, they don't have a‍ web version anymore, sign up process is quite simple, couple pages only. Next day you⁠ get approved. Initial deposit is anything above 0. They mail your debit card to your⁤ residential address only. ACH and Wires cost no more than $5- $15. Not sure about⁣ international wires, but I'm pretty sure they have this option.
For a business checking account⁢ they only required a copy of Articles or a EIN letter, you just upload them︀ in their chat

 

[clemens]

That's the best strategy for⁠ using EMI's, open as many as possible that don't require a monthly fee! Spread your⁤ risk as much as you can to avoid huge loss.