Twitter
LinkedIn
Reddit
WhatsApp
Email

How To Set Up Your Bank Account with Mercury

Weโ€™ve loved using Mercury for our banking, and we would recommend them to any other fund or company getting started. Below is the 14 step process we followed to get our account set up in under a week.

 

P.S. You can get $250 cash when you spend $10k on a new Mercury debit card within the first 90 days using this link.

 

STEP ONE

Visit Mercury. Click on the tab of โ€œOpen Accountโ€ in the top right corner.

 

Insert the following information in the next screen:

  • First name
  • Last name
  • Email address
  • Password

 

Check the box and agree to receive an electronic communication then click โ€œCreate Accountโ€.

STEP TWO

Insert the following information about your company:

 

  • Your company name
  • Your role in the company – You can select among founders, CFO, Investor, Manager, etc.

 

Then click โ€œNextโ€.

STEP THREE

Choose your call sign or the specific permalink for your company.

 

Example: mercury.com/yourcompanyname

 

Click โ€œLooks Goodโ€.

STEP FOUR

Select the type of your company and what it deals with among the following:

 

  • Registered with SEC
  • Publicly traded
  • Owned by a public company
  • Gambling
  • Money service business
  • Firearms
  • Controlled substances
  • Government organization
  • Tax program
  • Adult entertainment

 

Only the above 3 categories will be accepted by Mercury. If your company is one of the three select them and click โ€œNextโ€ or click โ€œNone of the aboveโ€ to proceed.

 

STEP SIX

From this step, you will be directed to a total of 7 steps about your business. You will be needing the mentioned necessary documents from now on.

 

Get started and click on โ€œStart Your Company Profileโ€.

STEP SEVEN

First to fill is your COMPANY INFO that includes:

 

  • Company name
  • Legal business name
  • Employer identification number (EIN)
  • Company type (LLC, LLP, C corporation, Non-profit, etc.)
  • Industry (e-commerce, Entertainment, Fitness, IT, etc.)
  • Description about your business up to 280 words

 

Complete & click โ€œNextโ€.

STEP EIGHT

The second is to fill your COMPANY CONTACTS with the following:

 

  • Country
  • Business address
  • City
  • State/Province
  • Postal code
  • Phone number

 

Complete & click โ€œNextโ€.

STEP NINE

Third is to fill your COMPANY OWNERโ€™S PROFILE with the following:

 

  • First name
  • Last name
  • Email address
  • Job title (CEO, Founder, Partner, etc.)
  • Postal code
  • Percentage of ownership (must be more than or equal to 25%)

 

Once complete click โ€œContinueโ€ check the box to certify then click โ€œNextโ€.

STEP TEN

Fourth is to fill in your BUSINESS NAMES. If your business is having DBA (doing business as) select Yes and attach the Trade name document, if not select No and then click โ€œNextโ€.

STEP ELEVEN

Fifth is to attach the FORMATION DOCUMENT. You can attach any one of the following from the list below in the format of PDF/JPG/PNG:

 

  • Articles of incorporation
  • Articles of formation
  • Assumed name certificate
  • Good standing certificate
  • Certificate of formation
  • Other related documents

 

Once uploaded, click โ€œNextโ€.

STEP TWELVE

Sixth is to attach the EIN VERIFICATION DOCUMENT. You can attach IRS documents like CP 575, 147 c, IRS-returned or the screen shot including your EIN. Upload & click โ€œNextโ€.

STEP THIRTEEN

Write some additional information about your business: 

 

  • Define about suppliers you are working with
  • Define your products and services
  • Your storeโ€™s website address
  • How do you receive payments currently?

 

Once done click โ€œReview Your Applicationโ€.

STEP FOURTEEN

Next, to AGREE to TERMS & SERVICES of Evolve Bank read carefully then click โ€œAgree and Submit Company Profileโ€.

Your application is now submitted and being processed. Mercury bank will notify you about the application status within 2-4 working days.

 

Once approved, you will be able to manage your transactions.

Read More

Our best VC resources … FREE