USA LLC with Mercury.com bank account & Crypto

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DunningKruger

DunningKruger

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Jun 8, 2020
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Hello guys,
This is my first message here.

Any body used/tested Mercury.com USD account which owner by a WY LLC (Non-US Resident company) receive/send to Crypto exchanges ? And also which crypto exchange is perfect with mercury.com (If mercury crypto firendly)
Or any US Bank account and crypto exchange suggestion with lower costs.

thanks
 
Personally I have been in touch with them a few times, very responsive and polite to answer questions.

Actually I was through the entire process with them with a Wyoming LLC but never really got started.

Below are other similar threads that you may find very helpful:
https://www.offshorecorptalk.com/threads/bank-account-and-money-transfering-for-us-llc.32622/https://www.offshorecorptalk.com/threads/mercury-bank.33497/https://www.offshorecorptalk.com/threads/getting-accepted-on-mercury.31711/

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DunningKruger said:
DunningKruger said:
Thank you @Admin ,
I used firstbase.io for my WY LLC, and I created a good looking website and of course waited EIN number about 2.5 months 🙂 After EIN, I got my Mercury account without any problem.

Now I have Mercury and Relay USD accounts.

Currently I am trying to findout which one Crypto friendly 🙂

Thanks
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firstbase looks good ...why you don't ask Mercurybor Relay about crypto ?

Last edited: May 18, 2021
 
DunningKruger said:
DunningKruger said:
Thank you @Admin ,
I used firstbase.io for my WY LLC, and I created a good looking website and of course waited EIN number about 2.5 months 🙂 After EIN, I got my Mercury account without any problem.

Now I have Mercury and Relay USD accounts.

Currently I am trying to findout which one Crypto friendly 🙂

Thanks
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Can you send SWIFT transfers with Mercury worldwide ?
 
DunningKruger said:
DunningKruger said:
I really do not want to, because my account is new and I do not want to lose mercury right now, mostly s-hit happening me after asking this question banks closing my company accounts 🙂 Thats why I am asking a real world and real test 🙂

Not tested but seems yes.
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Yes it is possible. We tested it.
 
I'm using Kraken to receive Mercury wire payments. We have a Wyoming LLC.

Pretty good but you'll have to get every single deposit approved manually by Kraken (using support ticket every single time I make a deposit) as the payment doesn't come directly from your own Mercury Bank account. It comes from their partner bank. Open a support ticket and attach the deposit receipt of each payment.

You'd get your payment approved from 4-12 hours. (I've recently been upfront with them and I get it approved ~ 4hrs after the wire hits their account)
 
isyet said:
isyet said:
Cryptocurrency can be risky on Mercury. Better to openly ask Mercury before making a transfer. Don't risk it.
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I totally agree.

OP if you are afraid of losing your account you want to contact them from a different handle which they can't connect to you. I know they are very responsive also to non customers.

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@DunningKruger Let us know how things go with your testing.

Talking with the Mercury team they confirmed that they don't have troubles per se with crypto business or crypto transactions but that some exchanges, like Gemini, reject their wire transfers because the business name isn't listed as the sender of the wire.

About crypto businesses:

while we can accept crypto companies in general, some business models that are perceived as higher risk aren't able to be banked.
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Hi guys, has anyone been able to fund any crypto exchange with a Mercury Bank account? I've opened one, they said theey have no troubles with me funding an exchange, but as previously mentioned, some exchanges reject the deposits because Mercury uses a third party for international transactions. So, I sent a deposit to Kraken, which I think it should go through but can take up to 5 days, so I was wondering if you've found a way which takes less time. Been googling about it but I just keep finding walls.
 
You will need to contact kraken with the receipt (from mercury) for each deposit you make.

They will approve it within few hours.
 
Hi Novice, thanks for replying. I got a message from Mercury tho, saying they didnt' process the wire transfer

We could not process your wire attempt to Kraken due to a compliance concern.

We are sending the funds back to your account and they should credit in the next business day.

If you have any questions or want more information about the transaction, please reply to this email.
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That was after they confirmed via chat they didn't have any restrictions

We don't have express restrictions on buying crypto through your Mercury account. However, our wires send from FBO accounts due to our arrangement with our banking partner, and so don't have your business name as the wire sender. Because of this, sometimes crypto exchanges (most notably Gemini, but some others) have issues with processing and crediting your wires for crypto purchases.

If the test deposit doesn't go through, I'd double check with Kraken to ensure that this is something they'd accept.

If you have further questions or need anything else, don't hesitate to reply!
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I have messaged them to see what they come back with. Thanks
 
Hi, I used Bank Frick And Co option, because that's the one that offered both SWIFT and IBAN codes which are required to setup the transfer?

Have you by any chance used Paxful? As I see I can use that with my debit card. I added my Mercury Debit card to my Paypal Account. I guess I could just fund my account that way?
 
Use MVB Bank. It's the best and cheapest. Don't buy with Credit cards.

What state is your LLC Registered in?
 
I will check it out later, is that one of the funding options for Kraken then?

As for the state of my LLC , it's registered in New Mexico.
 
juaninacio said:
juaninacio said:
Hi Novice, thanks for replying. I got a message from Mercury tho, saying they didnt' process the wire transfer



That was after they confirmed via chat they didn't have any restrictions



I have messaged them to see what they come back with. Thanks
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did it worked afterwards or do you still have troubles with them ?
 
Novice said:
Novice said:
I'm using Kraken to receive Mercury wire payments. We have a Wyoming LLC.

Pretty good but you'll have to get every single deposit approved manually by Kraken (using support ticket every single time I make a deposit) as the payment doesn't come directly from your own Mercury Bank account. It comes from their partner bank. Open a support ticket and attach the deposit receipt of each payment.

You'd get your payment approved from 4-12 hours. (I've recently been upfront with them and I get it approved ~ 4hrs after the wire hits their account)
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Hi there! Is this still working for you?
 
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