Business account options in countries Mercury does not support

Mercury unsupported countries: the short answer

Mercury cannot open accounts for founders living in 48 prohibited countries and in sanctioned countries and regions, even when the company is formed in the US. The list includes Nigeria, Pakistan, Bangladesh, Nepal, Indonesia, the Philippines, Vietnam, Ukraine, Croatia and Latvia. If you live in one of them, a US company does not unlock Mercury, and you need a provider whose own country list includes you.

The options depend on the country. In some, such as Indonesia, the Philippines and Vietnam, international business platforms accept locally registered companies. In others, such as Pakistan and Bangladesh, few foreign providers issue USD account details, and the home bank's foreign currency account is the main route. This guide reproduces Mercury's list, explains how Mercury applies it, and sets out the realistic options for the most affected countries, using each provider's own pages.

Mercury's list of unsupported countries

Mercury's help center states that it is unable to open accounts for founders living in the countries and regions below. The list is grouped here by region for reading; the names are Mercury's.

Source: Mercury, "Prohibited countries", as published on 29 October 2026. Mercury does not date the list; check it before applying.

Three points about how the list works:

• It is about where founders live. Mercury's wording is "founders living in" the listed countries. Its eligibility page states that founders do not need to be US citizens or residents, so a founder living in a supported country can apply whatever their nationality.
• It covers the people who control the company. Mercury's FAQ refers to founders or financial controllers living in the listed countries.
• Passports were not the test in 2024. When Mercury closed accounts in July 2024, it told TechCrunch that "passports were not considered in these offboarding decisions" and that accounts were identified from business and residential addresses and the locations of frequent account activity.

If Mercury is closing your existing account

The 2024 closures show what to expect. TechCrunch reported on 23 July 2024 that Mercury had updated its eligibility requirements and notified affected customers, and that two Nigerian founders said their accounts would close within 30 days of notice. The Paypers reported on 26 July 2024 that founders in Nigeria, Ukraine and Croatia were among those affected.

If you receive a notice, work in this order:

1. Open the replacement account first. Do not wait for the closure date; onboarding at another provider takes time and asks for the same company documents.
2. List every payer and every payment out. Export the last twelve months of transactions and mark recurring customers, subscriptions and payroll.
3. Send customers new details in writing, on company letterhead, and change the details on new invoices only.
4. Move recurring payments such as software subscriptions and contractor payments to the new account.
5. Withdraw the balance to an account in the company's own name before the closure date, and keep the final statements for your accountant.

A US company whose founder lives in a listed country still exists after the account closes. Its US tax filings continue, whatever account it uses next.

Options for the most affected countries

The table covers ten of the listed countries. For each one it records what Airwallex and Wise state on their own pages, and the home-country route. Airwallex's test is the company's country of registration; Wise's tests are the address on the account.

Sources: Airwallex eligible countries and territories; Wise, "Can I get USD account details?" and "Where can I open a Wise balance?"; as published on 29 October 2026.

A "Yes" for Airwallex means the country is on its list, not that a given company will be approved; Airwallex states that other eligibility criteria apply. An FCDU is a foreign currency deposit unit, the part of a Philippine bank licensed to hold foreign currency deposits. The NBU is the National Bank of Ukraine.

Several of these countries also require exporters to bring export proceeds home within a set period, including Nigeria, Indonesia and Vietnam. A USD account abroad can collect from US customers, but it does not replace the home account those rules are written around. Our country guides set out each rule, for example the guides to a USD business account in Nigeria and a USD business account in Vietnam.

The routes that remain when Mercury is closed to you

Four routes remain. The table compares what each needs and how a US customer pays it.

Source: Helm Editorial Team, from Mercury's published rules and providers' own pages, as published on 29 October 2026.

A provider that accepts your country of registration

Open the USD account for your local company with a provider that lists your country. This avoids a US entity altogether. Check three things on the provider's own page: the country list, whether the USD details are in your company's own name, and whether they accept ACH, Fedwire and SWIFT. ACH is the low-cost US domestic transfer most US companies use to pay vendors; Fedwire is the Federal Reserve's same-day system for large payments; SWIFT is the international bank network.

Your home bank's foreign currency account

Local banks in most of these countries hold US dollars for companies, under central bank rules. US customers pay these accounts by SWIFT wire rather than ACH, so the payment costs the payer more and can arrive with intermediary bank deductions. For exporters it is often required in any case.

A US company with a provider other than Mercury

Mercury's list applies to Mercury. Other US providers set their own rules and may apply their own country restrictions. Read the provider's eligibility page before forming a US company for banking, because the company's annual costs continue whether or not an account is approved. Our guide to Mercury alternatives for non-US founders sets out those costs.

A founder who moves

Because Mercury's test is where founders live, a founder who relocates to a supported country changes eligibility. Mercury identified accounts in 2024 from residential addresses and the locations of account activity, so the move has to be real and documented.

How to read any provider's country list

A refusal by one provider says little about the next, because each provider tests a different thing. Before applying, find out which test the provider uses.

• Where the company is registered. Airwallex tests the business registration location. A company registered in a listed country can apply even if a director lives elsewhere, subject to its other criteria.
• Where the founders and controllers live. Mercury tests where founders and financial controllers live. A US company does not change this.
• The address on the account. Wise tests the address on the business or personal profile for USD account details, and has separate rules for a US business with an address in Bangladesh, Cameroon, China, Nigeria or Pakistan.
• Where account activity happens. Mercury also looked at the locations of frequent account activity in 2024. Logging in from a listed country can matter even after an account is open.

Every owner of 25% or more and every person who controls the company is usually checked, so read the list against each of them, not only the person who applies. Lists change without notice; save a copy of the page on the day you apply.

Where Helm fits, and where it does not

Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions. Helm provides USD account details in the company's own name, a routing and account number that receives ACH, Fedwire and SWIFT, with EUR and GBP details alongside.

Helm does not currently provide USD account details to companies based in Pakistan, Bangladesh or Nepal, three of the countries on Mercury's list, or in Kenya, Morocco, Qatar, Japan or South Korea. Companies in those countries should use the home-bank route above. Helm's guide for Pakistan exporters explains how Pakistani exporters receive USD through local banks.

For companies based in other listed countries that Helm serves, such as Nigeria, Indonesia, the Philippines, Vietnam and Ukraine, Helm offers:

• USD details that US customers can pay as they pay a domestic vendor;
• international payments to suppliers by SWIFT and by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before sending;
• USDC and USDT received, sent and converted to USD inside the account, where local law allows;
• a named account manager, with review questions answered in writing within one business day.

Local rules still apply. Vietnamese companies, for example, need State Bank of Vietnam permission to open foreign currency accounts abroad, and Nigerian goods exporters must bring proceeds to their export domiciliary account. Helm agrees pricing with each business in writing before the account opens.

Questions

References

1. Mercury: Prohibited countries
2. Mercury: Eligibility and requirements for opening a Mercury account
3. TechCrunch: Mercury abruptly shuttered service for startups in Ukraine, Nigeria and other countries (23 July 2024)
4. The Paypers: Mercury stops serving startups in several countries (26 July 2024)
5. Mercury: Frequently asked questions
6. Airwallex: Eligible countries and territories
7. Wise: Can I get USD account details?
8. Wise: Where can I open a Wise balance?

This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.