Mercury

## Does Mercury offer business bank accounts that can be opened remotely by foreign-owned LLCs?

## Overview Mercury offers business bank accounts that can be opened entirely remotely by foreign-owned U.S. Limited Liability Companies (LLCs). The platform's onboarding process is fully digital, eliminating the requirement for founders or business owners to visit a physical bank branch in the United States. This service is specifically designed to accommodate international founders who have established a legal business entity within the U.S. Mercury operates as a financial technology company, providing its banking services through partnerships with FDIC-member banks, including Choice Financial Group and Column N.A. This structure ensures that deposits are eligible for FDIC insurance coverage, which is extended up to $5 million through a partner bank sweep network. ## Key Features Mercury's platform includes a suite of features relevant to the operational needs of foreign-owned businesses. The accounts support domestic Automated Clearing House (ACH) transfers for electronic payments within the U.S. International financial transactions are facilitated through support for both domestic and international wire transfers, utilizing the SWIFT network. The platform also provides physical and virtual debit cards for business expenses, which can be managed through the online dashboard. For businesses with teams, Mercury offers multi-user access with customizable roles and permissions, allowing for collaborative financial management. Furthermore, developer API access is available, enabling companies to integrate their banking data with other software and build custom financial workflows. The platform also supports integrations with common e-commerce services like Stripe, Shopify, and Amazon for streamlined payouts. ## Technical Specifications ## How It Works The primary requirement for a foreign-owned LLC to open a Mercury account is that the business must be formally registered in the United States or a U.S. territory. Applicants must provide official state-filed formation documents, such as the Articles of Organization or a Certificate of Formation. Additionally, a valid Employer Identification Number (EIN) issued by the Internal Revenue Service (IRS) is mandatory for the application. Mercury accepts several forms of EIN proof, including Form CP575, Form 147c, a completed SS-4 form, or a direct screenshot of the EIN confirmation from the IRS website. For identity verification, which is part of the standard Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance procedures, foreign founders can use an international passport. A U.S. Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) is not a mandatory requirement for non-resident founders, although providing one may facilitate the verification process. Applicants must also provide a principal place of business address, which can be an international or U.S. residential address, but cannot be a P.O. box or registered agent address. ## Use Cases ## Limitations and Requirements There are specific limitations and restrictions that applicants should be aware of. Mercury cannot open accounts for founders or key financial controllers who reside in countries on its prohibited list, which typically includes nations under U.S. sanctions or those identified as high-risk by its banking partners. Certain high-risk industries, such as adult entertainment, cannabis-related businesses, and gambling, are also ineligible for accounts. While the application process is standardized, Mercury reserves the right to request additional documentation, such as proof of commerce or further details about the business structure, particularly for entities with complex ownership. It is important to note that account approval is not guaranteed and is handled on a case-by-case basis. Mercury tends to prioritize what it terms 'digital-first' businesses, including software-as-a-service (SaaS) companies, e-commerce stores, and venture-backed startups. As of early 2026, Mercury has applied for a national bank charter, but it continues to operate under its fintech-partner bank model pending regulatory approval. ## Comparison to Alternatives ## Summary