Banking Guide
Open a Mercury Bank Account With Your EIN (2026)
Mercury is the most popular online business bank for non-resident LLC owners. $0 monthly fee, no minimum balance, fully online application. Your EIN is the first requirement.
Mercury serves more than 200,000 startups and online businesses and is the default banking choice for non-US founders who run a US LLC. The account is fully digital, supports USD wires and ACH, issues virtual and physical debit cards, and connects to Stripe, PayPal, and accounting tools. This guide explains exactly how to open a Mercury account with your EIN, which documents you need, how long approval takes, and the most common reasons applications get rejected.
Eligibility
Can a Non-Resident Open a Mercury Account With an EIN?
Yes. A non-resident can open a Mercury account with an EIN, a registered US LLC or C-corporation, and a passport. Mercury does not require an SSN, a US address for the owner, or a US visit. The company must be the account holder, not the individual.
Mercury onboards founders from most countries. As of 2026, Mercury does not open accounts for businesses based in or owned by residents of a short list of sanctioned and high-risk jurisdictions. Mercury also does not serve sole proprietors or trusts — you need a formal US entity (LLC or corporation) with its own EIN. If you do not yet have a US company, form the LLC first, then get the EIN, then apply to Mercury.
Who Mercury accepts
- Owners of US LLCs and C-corporations registered in any state
- Non-US residents from 200+ countries (limited exceptions)
- Single-member and multi-member LLCs
- Tech startups, SaaS companies, e-commerce sellers, agencies, and freelancer LLCs
Requirements
What Do You Need to Open a Mercury Account?
You need 5 items to open a Mercury account as a non-resident. Every item is verified online during the application, so prepare all documents before you start.
| # | Requirement | Where it comes from |
|---|---|---|
| 1 | EIN and EIN confirmation letter | IRS — via ein.so for $49 |
| 2 | Articles of Organization (LLC) or incorporation | Your state's Secretary of State |
| 3 | Operating Agreement | Your LLC formation documents |
| 4 | Passport for each 25%+ owner | Your home country |
| 5 | Proof of address and business details | Utility bill, lease, or bank statement |
Your EIN is the gatekeeping document. Mercury matches your 9-digit EIN and your legal business name against IRS records during onboarding. If the name on your EIN confirmation letter does not match your formation documents exactly, Mercury holds the application. Apply for a Letter 147C if you have lost your original CP 575 confirmation.
Step by Step
How Do You Open a Mercury Account With Your EIN?
Opening a Mercury account takes 6 steps and 1 to 3 business days after your documents are ready.
Get Your EIN First
Gather Your Documents
Start the Mercury Application
Add Owner and Business Details
Submit for Compliance Review
Fund and Activate the Account
Cost
How Much Does a Mercury Account Cost?
A Mercury checking account costs $0 to open and $0 per month. Mercury earns revenue from interchange and treasury products, so standard business checking carries no maintenance fee and no minimum balance.
| Item | Cost |
|---|---|
| Account opening | $0 |
| Monthly maintenance fee | $0 |
| Minimum balance | $0 |
| Domestic ACH and incoming wires | $0 |
| Outgoing USD wires | $0 |
| International (SWIFT) wires | Varies by destination |
| Mercury Plus / Pro paid plans | From $35/month (optional) |
The only EIN-related cost is the EIN itself. The IRS charges $0 for an EIN, and ein.so charges $49 (Standard) or $97 (Express) to prepare and file Form SS-4 for non-residents who cannot apply online. See the full EIN cost breakdown.
Comparison
Mercury vs Other Banks for Non-Residents
Mercury is the strongest all-around option for non-resident tech and startup founders. Compare it against the other accounts that accept non-resident LLC owners.
| Bank | Remote Opening | Monthly Fee | Minimum Balance | Best For |
|---|---|---|---|---|
| Mercury | Yes | $0 | $0 | Startups, SaaS, tech |
| Relay | Yes | $0 | $0 | E-commerce, multiple accounts |
| Novo | Limited | $0 | $0 | US-based freelancers |
| Wise | Yes | Low | $0 | Multi-currency payments |
| Chase | No | $15 | Varies | Branch access, cash deposits |
Pick Mercury if you want a free, fully online US account with strong startup tooling. Pick Relay if you run e-commerce and need many sub-accounts for budgeting. See the full ranking in our best bank for non-resident LLC guide.
Avoid Rejection
Why Mercury Rejects Applications (and How to Avoid It)
Mercury rejects applications mainly for document mismatches and unclear business descriptions. Most rejections are preventable.
Top 5 reasons Mercury holds or rejects an application
- EIN name mismatch. The business name on your EIN letter must match your Articles of Organization exactly, including punctuation.
- Brand-new EIN. A newly issued EIN can take up to 2 weeks to appear in IRS records. Wait if Mercury cannot verify it.
- Vague business description. "Consulting" is too broad. Describe your product, customers, and revenue model.
- High-risk industry or country. Crypto, gambling, and certain jurisdictions face extra review or denial.
- Missing beneficial owner. Every owner with 25% or more must be listed with a passport.
If Mercury declines your application, you can reapply after fixing the issue, or open a Relay account instead. Both accept non-resident LLC owners with an EIN.
Benefits
Why Does Your US Business Need a Mercury Account?
A US business bank account separates your company's money from your personal funds, which is the legal foundation of LLC liability protection. Mercury gives a non-resident founder a real US account without a US visit.
Mercury provides 6 concrete benefits for non-resident founders:
- Liability protection — Mixing personal and business money can pierce the corporate veil. A dedicated business account keeps your LLC's limited liability intact.
- USD payments — Receive payouts from Stripe, PayPal, Amazon, and US clients directly in US dollars.
- Virtual and physical cards — Issue virtual debit cards for ad spend, software, and team members.
- Free wires and ACH — Send and receive domestic wires and ACH at no cost.
- Treasury and API — Earn yield on idle cash and automate payments through Mercury's API.
- Clean bookkeeping — Export transactions to QuickBooks or Xero for Form 5472 and federal tax filing.
Without a US business account, your LLC cannot accept card payments, pay US vendors, or build a financial record. Opening one is the first operational step after formation.
EIN First
Why Do You Need an EIN Before Opening Mercury?
You need an EIN before opening Mercury because the account belongs to your business, and the IRS identifies your business by its EIN. Mercury cannot open or verify a business account without one.
Your EIN is your business's 9-digit federal tax ID, issued by the IRS in the format XX-XXXXXXX. Mercury uses it for 3 reasons: to confirm your LLC is a registered taxpayer, to file tax forms tied to your account, and to run anti-money-laundering checks. See what an EIN is and why every LLC needs one.
US residents get an EIN online in minutes. Non-residents are blocked from the IRS online tool and must file Form SS-4 by fax, which takes longer and is easy to fill out incorrectly. A rejected SS-4 delays your bank account by weeks. ein.so prepares and files the form correctly for $49, so your EIN is ready before you start the Mercury application. Learn how to get an EIN without an SSN.
After Approval
What Can You Do After Your Mercury Account Is Open?
Once your Mercury account is open, your EIN and US bank account unlock the full US business stack. The account is the hub that every payment platform connects to.
| Platform | What your Mercury account enables |
|---|---|
| Stripe | Receive card payment payouts in USD |
| PayPal | Link a US business account for withdrawals |
| Amazon | Receive FBA disbursements to a US account |
| Shopify | Connect Shopify Payments payouts |
| Business credit | Build a US business credit profile over time |
You can also pay US contractors, subscribe to US software, hold USD reserves, and issue cards to your team. For the complete list, see what you can do with an EIN.
Compliance
Tax and Compliance Notes for Foreign-Owned LLCs
A foreign-owned US LLC with a Mercury account has 3 federal compliance obligations. Opening the bank account does not create new taxes, but it does create records the IRS expects you to report.
Form 5472 + Pro-Forma 1120
BOI Report to FinCEN
Form 1099-K From Processors
This is general information, not tax advice. Confirm your specific filing requirements with a US tax professional.
Mistakes to Avoid
5 Mistakes to Avoid When Opening a Mercury Account
Most delays come from preventable mistakes made before or during the application. Avoid these 5 to get approved on the first try.
- Applying before your EIN is in IRS records. A brand-new EIN can take up to 2 weeks to propagate. Wait if Mercury cannot verify it.
- Using a name that does not match your EIN letter. Enter your legal business name exactly as printed on your EIN confirmation letter.
- Choosing the wrong entity. Mercury does not accept sole proprietors or trusts. Form an LLC or C-corporation first.
- Writing a vague business description. Explain your product, customers, and revenue model in detail.
- Skipping a beneficial owner. List every owner with 25% or more and upload a passport for each.
Fix these before you apply and your account typically opens within 1 to 3 business days.
Next Steps
Get Your EIN, Then Open Your Mercury Account
The EIN is the one requirement that takes time, so get it first. Non-residents cannot use the IRS online application and must file Form SS-4 by fax — a process where ein.so handles the paperwork, files with the IRS, and delivers your EIN by email for $49.
Related guides: EIN for bank account | Best bank for non-residents | EIN for non-residents | EIN confirmation letter | Open a Relay account
Frequently Asked Questions
Do I need an EIN for Mercury?
Yes. Every US business bank account requires an EIN, and Mercury is no exception. Mercury asks for your 9-digit EIN and your EIN confirmation letter (CP 575 or Letter 147C) during the application. Apply for your EIN at ein.so ($49) before you start the Mercury application.
Can non-residents open a Mercury account?
Yes. Mercury accepts owners of US LLCs and C-corporations from most countries with no US visit, no SSN, and no US address required for the owner. You need a registered US company, an EIN, and a passport. Mercury does not serve a small list of sanctioned or restricted countries.
What documents do I need to open a Mercury account?
You need your EIN confirmation letter (CP 575 or Letter 147C), your Articles of Organization or incorporation, your Operating Agreement, a passport for each owner with 25% or more ownership, and proof of address. Mercury reviews all documents online during the application.
How long does Mercury account opening take?
Mercury approves most complete applications in 1 to 3 business days. Applications that trigger extra compliance review take 1 to 2 weeks. Getting your EIN first is the slowest step for non-residents, which is why you should apply for the EIN before starting the bank application.
Is there a minimum deposit for Mercury?
No. Mercury has no minimum opening deposit, no minimum balance requirement, and no monthly maintenance fee. You can open the account with $0 and fund it later by wire, ACH, or transfer from another business account.
Is Mercury a real bank and is my money safe?
Mercury is a financial technology company, not a bank. Banking services and FDIC insurance are provided through partner banks including Choice Financial Group and Evolve Bank & Trust. Deposits are FDIC insured up to the standard limit through these partner banks.
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