Offer Details
Written by: RJ
Requirements
- Option 1 – $500.
- Open a new business checking account.
- Spend $10k on the debit card within 90 days of opening.
- Option 2 – $250.
- Open a new business checking account.
- Deposit $10k within 90 days of opening.
Eligibility
- Nationwide
- New customers only
- You will business documentation and possibly an EIN number
Fees
- Mercury business checking is fee free.
Account Closure
- No rule listed.
Links
- Option 1 – $500
- Option 2 – $250 (referral link)
- No end date listed
Notes
Mercury is targeted at start ups. You will need to have business documentation and possibly an EIN to get in. You can find more info on business documentation here.EIN’s are free from the IRS. You’d first get your business documentation, then request an EIN here.
I used my real LLC and EIN. No issues applying. They do request the documentation at application. Took a week for my approval.
Thoughts
This sounds like a lot of work. However, once you have your business documentation you can use it at a wide range of banks. Worth it in the long game. I’m doing the $500 offer. I’ve seen a data point that said buying money orders worked. The terms and conditions for this offer are also on the lighter side.
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Just wanted to throw my data point out there. I signed up for this earlier in the year with my LLC and kind of forgot about it. I wasn’t able to do the 10k in debit card purchases but when I asked customer service to change the promo to the referral, they did so after asking who referred me (RJ). Only got $250 but it was easier considering paypal bill pay wasn’t working for me and I couldn’t find anyone willing to do a $10,000 money order
1/26/24 – referral
https://mercury.com/r/aubridesumllcc
and it is still no expiration?
Hello,
What docs do they require for LLC or sole prop? do they turn away sole props?
by the way, do they pull Chex system reports?
@RJ If we do Option 2, do you know if we have to maintain the $10,000 balance for the 90 days?
These guys don’t give many details on either offer. There is no mention of a lock up period.Looks like they say it has to be there for a day, which is the shortest time it could be any ways https://mercury.com/legal/referrals
Applied with a sole prop that has an EIN and a registered trade name with my the secretary of state in the state I lived in. It is under review at the moment.
did you get approved ?
hi—how do you go about doing this money order situation ?
You’d take the Mercury debit card to any place that sold money orders. Buy one, they’ll be a fee but it’s small. Make it out to yourself or a player two, then cash it yourself. This creates the charge and spend for the bonus, while allowing you to easily liquidate it and do it again. I’m personally using PayPal bill pay but I’ve seen one data point of money orders working.