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I had a horrible experience with Mercury bank. I’m a US citizen, but living in a foreign country (which is a US ally…). Mercury had no problem opening my accoun
by irl_chad 5y ago
I had a horrible experience with Mercury bank. I’m a US citizen, but living in a foreign country (which is a US ally…). Mercury had no problem opening my account - but then a few months later froze my account for a week with no heads up. All my transactions just suddenly stopped working, no explanation. Support was completely unhelpful. Eventually they closed my account because of my geolocation and let me transfer the $ that was held out, but only after serious harm to the credibility of my business (late invoices, having to explain to partners that my bank account was frozen - resulting in loss of a partnership that would have resulted in a few hundred K in revenue).
Now I use a major US bank and could not be happier. Startup banks are a huge risk to business, I will never use one again.
- ramraj07 5y agoI operated my Mercury account as a non resident with zero issues, all I did was have a mailing address in the US. Did you have one? I don't think they flagged any of my activity from India as such.
- irl_chad 5y agoYep. I have a personal US address and obviously a business address. They had no problems opening the account.
- 55555 5y agoI had a very similar problem. Don't rely on fake banks. Funds frozen after one "red flag." But on the other hand if you have a very standard and non-controversial business you're unlikely to have issues.