Mercury alternative for non-US founders
The alternative to Mercury for a non-US founder is either a US company banked in the US, or a USD account opened for the company the founder already has. Mercury only opens accounts for companies formed and registered in the United States or a US territory, and it cannot serve founders living in about 50 listed countries and regions. This guide sets out Mercury's rules from its own pages, the yearly cost of a foreign-owned US company, and which providers accept which companies.
- Mercury requires the business to be formed and registered in the United States or a US territory, with existing or planned US operations.
- Mercury states that founders do not need to be US citizens or residents, but it cannot open accounts for founders living in the countries on its prohibited list, which includes Nigeria, Pakistan, Vietnam and the Philippines.
- A Delaware LLC pays an annual tax of $400 due on or before June 1, and a late payment adds a $200 penalty plus 1.5% interest a month.
- A foreign-owned single-member US LLC must file a pro forma Form 1120 with Form 5472 attached, and the IRS penalty for each failure to file is $25,000.
- Since FinCEN's interim final rule of 21 March 2025, companies created in the United States are exempt from beneficial ownership reporting.
- Wise Business, Airwallex and Payoneer accept companies registered outside the US on their own published terms, so a founder can bank the home company without forming a US entity.
Mercury alternatives for non-US founders: the short answer
Mercury is open to founders from many countries, but not to companies from those countries. Its eligibility page states that the business must be formed and registered in the United States or a US territory and must have existing or planned US operations. A founder in Mexico, Brazil, India or the UAE can use Mercury only through a US company.
That leaves two real alternatives:
- Form a US company and bank it in the US. You get access to Mercury and other US-only accounts, and you take on a second company with its own US tax filings and state fees.
- Keep your home company and open a USD account for it. Providers such as Wise Business, Airwallex and Payoneer accept companies registered in the countries on their own lists. Some give the company US routing and account numbers, so US customers can pay by ACH.
Which one fits depends on a question most comparison pages skip: do you need a US company for reasons other than the bank account? If US investors, US contracts or a US sales team are part of the plan, the US company may be worth it. If you only want US customers to pay you in dollars, a USD account for the company you already have avoids the US entity, its annual tax and its IRS filings.
This guide sets out Mercury's rules as its own pages state them, what a foreign-owned US company costs to keep in good standing, and which kinds of provider accept which kinds of company. Founders who live in one of the countries Mercury cannot serve should also read our guide to business accounts in countries Mercury does not serve.
What Mercury requires, from its own pages
Mercury publishes its rules in its help center. The table quotes each requirement and states what it means for a founder outside the US.
| Requirement | What Mercury states | What it means for a non-US founder |
|---|---|---|
| Where the company is formed | Formed and registered in the United States or a US territory | A company registered in Mexico, India, Nigeria or any other country cannot open a Mercury account in its own name |
| US activity | Existing or planned US operations | Be ready to explain the US customers, contracts or team behind the company |
| Founders | Founders do not need to be US citizens or residents | A founder can live abroad and still own and control the US company |
| Where founders live | Accounts cannot be opened for founders living in the countries and regions on its prohibited list | Founders living in Nigeria, Pakistan, Vietnam, the Philippines, Ukraine and more than 40 other listed countries cannot apply |
| Address | A US or international principal place of business; registered agent addresses, P.O. boxes and UPS Store addresses are not accepted | A registered agent address in Delaware or Wyoming is not enough; give a real operating address, which may be abroad |
| Tax number | The IRS-issued EIN document, with formation documents | Obtain the EIN before applying |
| Owners | Government ID for the operating controller and any owner of 25% or more | Every 25% owner must be identified, wherever they live |
| Industries | No accounts for money services businesses, adult entertainment, cannabis, internet gambling or trusts; other industries reviewed case by case | Payment, remittance and exchange businesses need a different provider |
Sources: Mercury, "Eligibility and requirements for opening a Mercury account", "Prohibited countries" and Mercury FAQ, as published on 29 October 2026.
The country list matters as much as the US company rule. It applies to where founders live, not to their passports. In July 2024 Mercury told TechCrunch that it identified accounts to close from business and residential addresses collected at onboarding and in later reviews, and from the locations of frequent account activity. A founder who moves to a listed country after opening the account can therefore be affected later.
Route one: form a US company
Many non-US founders form a US limited liability company (LLC) or a Delaware corporation, then open the US account in its name. This works for founders living in countries Mercury supports, and it opens other US-only accounts too. The cost is not the formation fee. It is the yearly obligations that come with a US company owned from abroad.
| Obligation | What applies | Source |
|---|---|---|
| EIN (US tax number) | Applicants with no US place of business may call the IRS on 267-941-1099, or fax Form SS-4 to 304-707-9471 from outside the US | IRS Instructions for Form SS-4 |
| Delaware annual tax (if the LLC is formed in Delaware) | $400 a year for LLCs, due on or before June 1; a $200 penalty plus 1.5% interest a month if late | Delaware Division of Corporations |
| Form 5472 for a foreign-owned single-member LLC | The LLC is treated as a corporation for this purpose and files a pro forma Form 1120 with Form 5472 attached, by fax or mail, not electronically | IRS Instructions for Form 5472 |
| Penalty for a missed Form 5472 | $25,000 for each failure to file a complete and correct form, with a further $25,000 for each 30 days after an IRS notice, with no maximum | IRS international information reporting penalties |
| Beneficial ownership report to FinCEN | Since the interim final rule of 21 March 2025, companies created in the United States are exempt; foreign companies registered to do business in a US state must still report | FinCEN news release, 21 March 2025 |
| Address | Mercury does not accept a registered agent address as the principal place of business | Mercury eligibility page |
Sources: IRS, Delaware Division of Corporations, FinCEN and Mercury pages listed in the references, as published on 29 October 2026. Other states set their own fees.
Form 5472 is the IRS information return that reports transactions between a US company and its foreign owner, such as money the owner puts in or takes out. FinCEN is the Financial Crimes Enforcement Network, the US Treasury bureau responsible for anti-money laundering rules. The Form 5472 filing is easy to miss, because a single-member LLC is otherwise ignored for US income tax, yet the IRS treats a foreign-owned one as a corporation for this return.
A US company also changes who earns the money. Sales invoiced by the US company belong to it, and moving profit to the home company or to the founder has tax effects in both countries. Take tax advice in both countries before forming one only to get a bank account.
Route two: keep your home company and open a USD account for it
The alternative is to open a USD account for the company you already have. The question is not which provider is best, but which providers accept a company registered in your country. The table records what each provider's own pages state about the company it accepts.
| Provider | Company it accepts | What its own pages state |
|---|---|---|
| Mercury | US company only | Formed and registered in the United States or a US territory |
| Wise Business | Companies in countries Wise supports | USD account details are not available for addresses in listed countries, including Nigeria, Pakistan, Sri Lanka, Türkiye, the UAE and Ukraine |
| Airwallex | Companies registered in listed locations | Its list includes Mexico, Brazil, India, Indonesia, Hong Kong, Singapore and Vietnam; unlisted locations cannot be processed |
| Payoneer | Businesses, freelancers and online sellers | Serves 190+ countries and territories; the account is for commercial and business purposes |
| Helm | Companies outside the US, subject to its own review | USD account details in the company's own name, receiving ACH, Fedwire and SWIFT |
Sources: Mercury eligibility; Wise, "Can I get USD account details?"; Airwallex eligible countries and territories; Payoneer account page; Helm. As published on 29 October 2026.
Three points decide whether a provider replaces what a founder wanted from Mercury:
- Whose name is on the US details. Ask whether the routing and account number are in your company's own name or belong to a pooled account in the provider's name. This is the name your US customers see when they set you up as a vendor.
- Which rails the details accept. ACH is the low-cost US domestic bank 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. Details that accept all three cover every kind of US payer.
- Your home rules. Some countries require exporters to bring proceeds home within a set period. Nigeria, India, Indonesia, Sri Lanka, Vietnam and South Africa all have such rules, so a USD account abroad sits beside the home bank account, not in place of it.
For the wider comparison, including published fees and independent scores, see our guide to the best USD business account for a non-US company.
Which route fits which founder
The right route follows from what the business does, not from the account.
Software and service founders selling to US customers
If the only aim is to let US customers pay by ACH, a USD account with US details for the home company does that without a second company. If the business plans US hires, a US office or contracts that require a US party, a US company may be needed for those reasons, and banking it in the US follows.
Exporters of goods
Goods exporters usually face home-country rules on export proceeds. A US company invoicing the buyer does not remove those rules for goods leaving the home country. A USD account for the exporting company, alongside its home bank, is the simpler structure in most cases.
Importers and trading companies
Importers want to hold dollars and pay suppliers in China, Europe or elsewhere. What matters is outgoing SWIFT and local-currency payments, the rate shown before sending and a second account if one is held for review. A US company adds little unless the trade itself is run from the US.
Founders who live in a listed country
Mercury cannot open an account for them even through a US company, so route one is closed with Mercury. Check each other provider's list on its own page before forming a US entity for banking.
Where Helm fits
Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions. For a founder outside the US, Helm gives the operating company itself USD account details in its own name: a routing and account number that receives ACH, Fedwire and SWIFT, with EUR details (IBAN, SEPA and SWIFT) and GBP details (sort code, Faster Payments and SWIFT) alongside.
- US customers can pay the company the way they pay a domestic vendor.
- The company can send international payments to suppliers by SWIFT, or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before sending.
- Companies whose buyers pay in stablecoins can receive USDC and USDT and convert them to USD inside the account, where local law allows.
- Trade finance, such as supplier finance, receivables finance and working capital, is arranged case by case.
Each client has a named account manager, and review questions are answered in writing within one business day. Helm cannot currently provide USD account details to companies based in Pakistan, Bangladesh, Kenya, Nepal, Morocco, Qatar, Japan or South Korea. Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
Before you form a US company or switch accounts
- Read the country list first. Check Mercury's prohibited countries page against where every founder and 25% owner lives, and check the other provider's own list against where your company is registered.
- Decide if you need a US company for its own sake. US investors, contracts or staff are reasons. A bank account alone usually is not.
- Price the US company for three years. Include state tax, a registered agent, an accountant for Form 5472 and the pro forma Form 1120, and the cost of moving money between the two companies.
- Confirm the account name and rails. Ask for a sample of the account details and check the beneficiary name and whether ACH, Fedwire and SWIFT are accepted.
- Check your home rules. Confirm with your home bank whether export proceeds must come home and by when.
- Test with one customer. Ask a US customer to send one ACH payment and compare the amount received with the invoice.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can a non-US founder open a Mercury account?
Yes, if the company is formed and registered in the United States or a US territory and has existing or planned US operations. Mercury states that founders do not need to be US citizens or residents, but it cannot open accounts for founders living in the countries on its prohibited list.
Can a company registered outside the US open a Mercury account?
No. Mercury's eligibility page requires the business to be formed and registered in the United States or a US territory. A company registered in Mexico, India or another country needs a provider that accepts companies from that country.
What is the best Mercury alternative for a non-US company?
It depends on where the company is registered, because eligibility lists differ. Wise Business, Airwallex and Payoneer each publish which countries they accept. Check that the USD details are in the company's own name and accept ACH, Fedwire and SWIFT.
Do I need a US LLC to get US bank account details?
Not always. Some providers give companies registered outside the US their own US routing and account numbers. A US LLC is needed for US-only accounts such as Mercury.
How much does a Delaware LLC cost each year?
The Delaware Division of Corporations sets the annual tax for LLCs at $400, due on or before June 1. A late payment adds a $200 penalty plus interest of 1.5% a month. Registered agent and accounting fees are extra.
Does a foreign-owned single-member LLC have to file with the IRS?
Yes. The IRS instructions for Form 5472 treat a foreign-owned US disregarded entity as a corporation for this purpose, and it must file a pro forma Form 1120 with Form 5472 attached. The penalty for each failure to file is $25,000.
Do foreign-owned US LLCs still file beneficial ownership reports?
FinCEN's interim final rule of 21 March 2025 exempts all companies created in the United States from beneficial ownership reporting. Foreign companies registered to do business in a US state must still report.
Can I use a registered agent address for Mercury?
No. Mercury accepts a US or international principal place of business, including a residential address, but not registered agent addresses, P.O. boxes or UPS Store addresses.
Why did Mercury close accounts for founders abroad?
In July 2024 Mercury told TechCrunch it had updated its eligibility requirements and identified affected accounts from business and residential addresses and the locations of frequent account activity. Founders in countries including Nigeria and Ukraine were affected.
References
- Mercury: Eligibility and requirements for opening a Mercury account
- Mercury: Prohibited countries
- Mercury: Frequently asked questions (documents and EIN)
- IRS: Instructions for Form 5472
- IRS: International information reporting penalties
- Delaware Division of Corporations: LLC/LP/GP franchise tax instructions
- FinCEN: FinCEN removes beneficial ownership reporting requirements for US companies and US persons (21 March 2025)
- Airwallex: Eligible countries and territories
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.