We’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 “Open Account” 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 “Create Account”.
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 “Next”.
STEP THREE
Choose your call sign or the specific permalink for your company.
Example: mercury.com/yourcompanyname
Click “Looks Good”.
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 “Next” or click “None of the above” 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 “Start Your Company Profile”.
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 “Next”.
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 “Next”.
STEP NINE
Third is to fill your COMPANY OWNER’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 “Continue” check the box to certify then click “Next”.
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 “Next”.
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 “Next”.
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 “Next”.
STEP THIRTEEN
Write some additional information about your business:
Define about suppliers you are working with
Define your products and services
Your store’s website address
How do you receive payments currently?
Once done click “Review Your Application”.
STEP FOURTEEN
Next, to AGREE to TERMS & SERVICES of Evolve Bank read carefully then click “Agree and Submit Company Profile”.
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.
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