Opening a bank account in Usa is now possible for LLC company owners and the process is very simple. Mercury Bank supports opening an account in Turkey, here are the details and step by step account opening details.
The biggest problems faced by e-commerce people in international markets are generally:
Opening a bank account in Usa (a corporate account for the company)
Not being able to find virtual cards to make expenses
Not being able to make affordable international money transfers
We have prepared a guide so that you can easily overcome these problems. An LLC or Corp in Usa. If you have an llc and need to open a bank account, you can open your bank account without going to the USA.
How?
Let's start quickly.
The video below shows the step-by-step application process. Before you start, watch the video and also review the rest of this page. Some preliminary preparations are required before applying. It would be better to complete the requirements first.
Our Reference Link for Mercurybank Application: https://startupsole.com/go/mercurybank/
Is It Necessary to Open a Bank Account in Usa?
It is necessary, we can even say essential.
If you have an llc in Usa and do business through this company, you must have a bank account where you can send and receive payments.
You must collect the income you earn somewhere, you must be able to reuse this money as capital with bank cards, and most importantly, you must be able to transfer your income to your country of residence with minimum expenses.
However, many platforms or marketplaces will ask you for a bank account with a USD balance. The biggest example of these is;
- Stripe
- Amazon
- ebay
- Etsy
- Shopify
- And many more payment processors and marketplaces
In order to open an account on these platforms and do business, it is necessary to somehow form an llc in Usa and obtain an EIN.
They then ask you to enter a US bank account number in order to receive payments from these platforms.
In summary, whether you want it or not, if you are doing e-commerce through your company in the USA, you must open a bank account.
How to Open a Bank Account in Usa?
Physical banks located in the USA require you to visit the country during the process of opening an account for an llc formed in the USA.
This was easier in the past, but now the situation has changed.
In this case, many entrepreneurs felt disappointed and even decided to give up their ventures.
However, digital banks, called financial institutions, have changed this situation and opened a new door for non-US entrepreneurs.
Opening a physical bank account in America remotely online was relatively easier in the past, but this situation has changed considerably after updates to some security laws in the country.
Why is it difficult to open a physical bank account in Usa?
Many brick-and-mortar banks in Usa require the LLC owner to visit the bank in person. You can open an account in person at a bank with your EIN letter.
Major banks require individuals to provide an Individual Taxpayer Identification Number, or ITIN, and proof of address in the United States (these details vary from bank to bank) at account opening. By the way, if you need an ITIN number, order one here .
Digital Banks and financial institutions came to the rescue of those who could not meet such requirements.
MercuryBank allow remote online account opening.
Although these are not physical banks, they are at least insured financial institutions that may be sufficient to sustain your trade or business.
7 Digital Bank alternatives for your company in the USA
But in this article, we will talk about Mercurybank, which is the most preferred among these alternatives.
What is MercuryBank? What Does It Offer?
Mercurybank, whose founders are in the same boat as entrepreneurs (so they claim), launched MercuryBank in 2019 to make it easier for entrepreneurs to open a remote bank account.
Mercury Bank was founded in Usa in April 2019 by Immad Akhund, Max Tagher and Jason Zhang.
Immad Akhund, who comes from entrepreneurship, states that they entered into this formation to prevent entrepreneurs from experiencing the same problems they had with banks during their years of entrepreneurship (and also to close this gap).
Mercurybank offers great convenience for those starting a new job.
You can shop online and purchase goods and services with these cards.
A beautifully designed debit card with your name and company name on it.
On the other hand, Mercurybank offers you some advantages.
MercuryBank Advantages
- Checking account
- A savings that yields 1-2%
- Bank card (ATM/Debit)
- ACH payments
- Check payments
- Free domestic and international money transfers
- Useful tools to keep track of money
- FDIC insured deposits
- Opening an account remotely online
- internet banking
- A free debit card for every user
- virtual card
- teamwork
- Billing and subscription system
- Integration of receiving payment by link with Stripe connection
- A simple income and expense tracking system (pre-accounting)
- Integration into advanced accounting software
- Discounted App offers called perks
- and more
- No minimum balance
- No monthly dues
- Very low fee money transfer to Turkey in USD to USD
MercuryBank Costs and Price
Opening an account at MercuryBank is completely free.
They do not charge any additional fees, all you need to open an account is to have an LLC company, to say that your customers are in Usa, to have a project to offer and for your company to have an EIN.
It would be a good idea not to mention that your customers are outside the United States when opening an account, otherwise your account may be rejected during account opening.
What Types of Companies (Business) Does MercuryBank Not Accept?
First of all, in order to open an account online with MercuryBank, you must form an LLC and obtain an EIN for your company from the IRS. You should also have a project that you can present to the bank, for example, a marketplace link such as Amazon or Etsy, or a web page or e-commerce site in English. These should definitely belong to the company owner.
It should be noted from the beginning that Mercurybank does not evaluate individual applications. Only those who have an LLC company in the USA can open an account.
Entrepreneur-friendly MercuryBank opposes some businesses. Some of the unapproved job categories are as follows:
- Gambling and betting businesses
- adult sites
- Marijuana industries
- Misleading systems
- Stores and platforms with replica products
- Websites that sell copyrighted brands
- Websites with a simple design that contain a few or a single product
- Stores and marketplaces that are unprofessional and have poor content
- Additionally, there may be some categories that they do not consider appropriate.
In summary, MercuryBank easily and quickly approves many sectors that do business in accordance with the rules and take their job seriously.
Do You Require a Website and a Marketplace Store to Open an Account with MercuryBank?
In order to open a Mercurybank account, you must provide a website or a marketplace link.
If you do not have any projects, you may not be able to open a Mercurybank account.
They accept a completed website that is in English and complies with the policies.
If you do not have a website, you can provide a link to your Amazon or Etsy store. Stores must be owned by you, active and loaded with products.
When applying via the website, if you have the opportunity, open an account with a specific e-mail address for your domain name.
In summary, to open an account, you must have an e-commerce site or at least a marketplace seller of global brands.
The most important point when opening a Mercurybank account is to state that your source of income is from the USA.
Emphasize this in your responses during account opening, otherwise you will have problems with account approval.
What Documents Are Required to Open an Account with MercuryBank?
Mercurybank Account Opening Requirements
- An LLC or Corp type company incorporated in any state in the USA
- Company's Employer Identification Number (EIN). You'll be prompted to upload the EIN confirmation document
- A passport of the company owner
- Mobile phone number. You can give any mobile line with TR area code, you do not need to buy a virtual number with USA area code.
- An account statement in PDF format that you will receive from your bank. Your name and address must appear clearly on the account statement. You can easily bypass the account opening process by stating that if you have some money in your account, you will use it as capital (select the relevant option in the form).
- Your company's founding documents (Articles of organization or Formation documents)
According to the new rules, you must enter your address in TR instead of your Company address (i.e. the place of residence where you do business) and they ask you to prove your residence with a bank statement. Now they want the residence address of the LLC company owner instead of the registered agent address.
There are systems to verify your passport online with a mobile application during account opening and it is quite simple.
Don't be intimidated by starting an llc.
It is possible to form an llc in the USA in a short time at a very affordable price.
Our website includes company formation guides in states such as Wyoming , New Mexico , Delaware , Florida and Nevada Additionally, when you establish your company Northwest Registered Agent for your EIN free of charge .
Does MercuryBank Provide Debit Cards?
Yes, Mercury provides a debit card (DEBIT) free of charge to every member.
There is also virtual card support that you can create instantly.
Once your Mercurybank account is opened, they will mail a debit card to your company address in the US, free of charge. The card will be sent to your company address in the USA within a few weeks, and from there you can request your card to your residence address in TR by paying the shipping costs.
However, when ordering your card, ask for it to be sent to your company address in the USA, because they no longer ship cards in Turkey.
After receiving your card, you can log in to your Mercurybank customer panel, define a pin code for your card and complete its activation.
If you have activated your card before or do not have a debit card to activate, you will see this message. If you have a card to activate, follow the on-screen instructions
How to Open a MercuryBank Account Online?
This is pretty easy once you set up your LLC company. When you first register, click on our reference link. In this way, you will earn a bonus after the account is opened and you can speed up the approval.
If everything is ready mercury.com from this link and start registering by clicking the “OPEN ACCOUNT” button.
Note: If you start your membership the Startupsole link, when you transfer a certain amount, a balance of $250 will be added to your account as a gift and your approval process will be evaluated faster than other applications.
Fill out the form below completely.
Complete the first step by entering your name, surname, e-mail (use your work e-mail if you have one) and password.
If you do not have a corporate e-mail account, How to Get a Corporate E-mail and Domain the Easy Way? You can get it quickly by following the steps in our guide.
Type the company name and select the company type.
Enter a short address. It could be your company name.
Turkish characters are not accepted.
In this step you will see a list of categories that are not accepted. Proceed without selecting one of these, if you do, your account will not be approved.
If you encounter a short informational text, continue with "OK".
PATRIOTITY Law Statement 🇺🇸
Important information about opening a new bank account: To help the government combat the financing of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. Before you open an account, we generally need to obtain your name, address, date of birth, taxpayer identification number or other identification number (for example, SGN or employer identification number), and other information that allows us to identify you and better understand you and/or your business. We may also ask to see documentation that verifies your identity, such as an unexpired driver's license or passport, or, in the case of a business, a certified copy of articles of incorporation and/or a state-issued business license, authorized signers, account holders, and your officers, directors, beneficial owners , controlling shareholders and others.
After this step, you will see a few registration screens where you will create your company profile.
You must fill out all forms carefully and completely.
Fill in all fields and submit the form.
Since MercuryBank is a digital bank, your website or marketplace store link is where they will base your work.
If you run an active marketplace such as Amazon or Etsy, you can provide your store link, but the store must belong to you and contain products.
Your website that you enter in this field must be in the appropriate category, secure and content-ready. (Also, having pages such as about us, contact, terms and conditions, privacy policy can speed up approval)
Provide them with all the correct information requested in the above steps.
Upload your company document and passport to the relevant fields and then wait for the approval process.
After waiting for a certain period of time, if you are eligible, you will receive an e-mail confirming that your account has been opened.
For this reason, it is useful to check your e-mail address from time to time.
Do not enter your LLC company address in the USA in the Company address section, instead enter your residence address in TR because they no longer accept Registered Agent addresses for USA LLCs. You can easily prove your residence address with a bank account statement. Your name and address must appear clearly on the account statement.
Transferring Income from Usa to Your Country from Mercurybank
With Mercurybank, transferring your money to your home country is almost free, costing only 15 USD. By paying the 15 USD commission upfront, you will not encounter any surprise charges from the banks. During the transfer phase, you can easily transfer money by entering the Iban information of your USD account in Turkey (or the country you are in) and your bank's Swift code.
Transferring Money from Mercurybank
To transfer money, log in to your internet banking panel and click on the Move Money and Send menus at the top. If the recipient is not registered before, click Add New Recipient and enter the recipient information, USD iban and bank Swift code.
Then enter the amount you will send.
If you choose the Send As OUR option, you will avoid surprise commissions from all banks you switch to by making a 15 USD down payment from the beginning. Since there are many bank transfers with the Free option, surprise commissions may occur.
In the Send From section, select which account the money will be sent to.
If you select Today as Send ON, sending will start immediately or you can schedule it for a later date.
The balance you sent will be transferred to your account within 1-3 business days after sending. Sometimes it can be transferred to the account on the same day, or it can be transferred to the account within 2 or 3 business days at the latest.
Or you can withdraw cash by paying commissions from your debit card.
Card cash withdrawal commissions vary from bank to bank and country to country. However, remember that you will pay very high commissions since there are no contracted ATMs in Turkey.
Are There Alternatives to Mercury Bank?
Yes there is.
If you experience any approval problems during account opening, Payoneer Business . AirWallex another alternative .
Conclusion
MercuryBank is truly a great solution for entrepreneurs who are starting a new company and reside outside of the US.
In particular, the ability to open a remote account, being free of charge, economical transfer commissions, the extra tools it contains, offering a debit card and the fact that it does not involve too many procedures make it unrivaled in this field.
If you are engaged in e-commerce abroad or if you plan to expand into the global market and start an online business, you can immediately form an LLC company and start benefiting from the benefits of Mercurybank.
Note: Mercury is a financial technology company, not exactly a bank, but we can say that it is an llc that offers bank features for entrepreneurs. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; It is a member of the FDIC. Mercury Debit Cards are issued by Choice Financial Group and Evolve Bank & Trust, Member FDIC, pursuant to licenses from MasterCard.”
339 Comments . New Comment
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Wise is currently closed.
You are a bank, what do you do, what can you do and what can I do?
I can do whatever I want by giving everything falsely or incorrectly, but we don't do that, we give accurate and honest information, it doesn't comply with our policies, I don't know what.
The huge country of the USA made me establish a company, good or bad, what is it like not to open a bank account?
I gave them everything they asked for, including my number 10 website and my e-mail address with info, nothing is missing.
I can't open my bank account.
Wise business is currently open and accounts in USD, you can also try the Payoneer business alternative, if you are eligible on both platforms, you will be approved. Sometimes Mercurybank may not give approval and unfortunately does not give the reason why.
Before opening a Mercurybank account, the following should be taken into consideration:
1. Your name and address must be clearly visible on the account statement you receive from the bank for the proof of capital you will provide. If possible, the statement should be signed in wet form, it should not be a doctored statement on a pdf, there are people who do this a lot, the inspection teams are not stupid, they can distinguish between real and fake (Your situation may be different, we would like to point out by excluding it)
2. When the capital self is selected, there must be some balance in the statement to be provided
3. Social The media account must be active and healthy
4. The products on your website must comply with the policies, be full of content and be corporate
5. If it is targeted outside the USA, it should not be stated
If details like this are paid attention to and a really serious business emphasis is placed, they approve almost every application.
Sir Nazmi, I am registering with Mercury, but the 'select institution' tab came and for a while the bank tab came, what should I do?
Hello, can we shop in Türkiye with our Mercury card? It's cooking, it's talking, it's online shopping, etc. Is this against mercury terms of use? Will it cause any problems if we pay our bills to POS, make purchases or withdraw cash with our physical card? Will our account be closed?
It can be done, but you must be able to account for these items at the expense showing stage. None of them may be shown as expenses, they will be shown as cash withdrawals to yourself. If this is not a problem for you, you can spend as much as you want.
Sir, I did not ask for the expense showing stage, there is no problem with that issue in my mind, I asked for this reason, it seemed like it was against Mercury's terms of service, that is, will our business account, card etc. be closed just because we are making personal expenses? Aside from the tax aspect of the matter.
If it's too exaggerated, you may of course get stuck in policy filters.
It can be done. However, according to the e-mail I received yesterday, starting from December 1, 2024, a 3% commission will be added to transfers made in currencies other than USD. I think I'm going to mention it here. In the past, when TL shopping was done in a market, there was a difference of 20 - 30 kuruş at most on top of how much 1 dollar was in Google search, which was a very low price compared to the USD / TL spread of our banks. But now, if it puts a commission like 3% on top of it, it may be unreasonable to use it for shopping.
Hello, I opened my MERCURY BANK account, my account was approved and I logged in to the bank. Afterwards, a pop-up appeared in the Home section of the panel and it says "To get started, deposit money into your account." What path should I follow on this screen? I researched many contents, but none of them contained this phrase. Thank you
You do not need to deposit money and it is not necessary, your account is probably in the approval phase, just complete the 2FA verification and card delivery address from the warnings in that section.
Ask for the card to the business address in the USA because they no longer send cards to Turkey. Once the account is approved, you will already have access to the bank's panel.
I emailed Mercury about this and they confirmed that I needed to deposit money today. They said that I could use the panel after depositing money into the account. I completed the two steps you mentioned, 2FA AND CARD. Since my Wise account is closed, I cannot deposit money from there and I cannot add it to Mercury as a bank. Is there an alternative method you can recommend?
There was no need to send such an e-mail; if you had waited, your account would have been opened anyway. In this case, if they provide your bank account information, you can send it in dollars from this bank via Swift, but
I have an additional question that I would like to ask you: Is it important that all addresses match each other in the payment system accounts we have formed for the Usan company and in the places where we use the vehicle? such as shopify payments application address and mercury bank application address, then shopify billing address, paypal account application address, payoneer address etc.
not necessary
Hello,
If the debit card for Mercury is not sent to Turkey, does the company that provides mail forwarding services in Northwest or Wyoming help in this regard?
Also, is there a name on the card or is it just the company name?
Thanks.
Hello,
Yes, you can request a card to your country for a fee.
Write the company name on your card
Sir, I think Mercury wants customer invoices, if we cannot provide this, there are rumors that the account will be blocked. I use shopfy payments, paypal and stripe. I sell to Europe and Gulf countries via Shopfy. Now, what I don't understand is whether it is necessary to have customers in Usa, what steps and strategies can I develop towards this? Shopfy payments, stripe, paypal usa companies. If these can sell to Europe, is it my fault? That's another nonsense. Payment systems accept it, but the bank says you must sell to the USA. I couldn't figure this out
Have you been asked for any invoices? We haven't heard it before, could it be a rumor you mentioned? Or could it be a person-specific situation?
Sir, it is possible that it is individual. Because: 1 – stripe, paypal, shopfy payments are American companies and can sell everywhere. 2- Mercury provides direct connection to these platforms via API. In fact, with Stripe, Mercury itself performs the integration automatically. It connects Shopfy payments as a bank account. With Paypal, ach pull is automatically allowed.
I think it may be asking for those who pay directly via bank transfer, not e-commerce. In other words, it may be because the company's customer sends money directly to the account number (like EFT - money transfer in Turkey). But when we look at it logically, if the payment processors I mentioned operate worldwide, it would be ridiculous if Mercury establishes a connection with these payment systems after saying that you cannot sell outside the USA. After all, payment processors do not accept the payment, first of all, they are US companies. He didn't ask for any invoice from me, I just wanted to get your opinion since it was a rumor.
There are many different business types and situations that try to manipulate the system. They may be examining accounts that sell different online services other than e-commerce and earn high amounts of income. It does not seem possible for all accounts to be affected by a situation specific to a person or business.
I am of the opinion that the cash flow cycle should be balanced and stable. As far as I can see from my surroundings, they do not like a complex cash flow cycle, for example, paying the supplier via Wise and suddenly turning it around and making it through Payooner, or constantly transferring the payments received from payment processors to different checking accounts, that is, they do not like a complex cash flow cycle. Or, advertising and other corporate expenses are constantly made from different accounts and cards, which may cause events to be interpreted differently. I don't know about other sectors, but this is my experience in e-commerce. As you said, different investigations may be carried out in different business models, but it may not just be a rumor, I don't know.
Friends, I started the application and an additional question came as follows: Can you provide any documentation showing that you own the domain? (Please note: the document should include the website domain and the beneficial owner's name or the legal business name)
What document do you think I should provide, including the name and address showing the domain, urgent help?
If you had applied with a corporate email with your domain in the application, it would not have asked for proof of domain ownership. You can send an invoice in your name from the company where you registered the domain and an FAQ that includes your name in the Whois query screen.
Guys, I have something stuck in my mind, please help me. I am also opening an account at Mercury Bank, but in a video I watched on YouTube,
it says that you need to show a minimum balance of 1000 dollars in the bank statements request section when opening an account, is this true?
And when verifying the address, they ask for an invoice or bank statement in the documents they request, nor do I want to send them because the invoices are not on me. There is no address on the bank statements anyway, how can I solve this problem? Is it okay if I directly send the residence document I received from the government? Thank you in advance to those who will help.
There is no clear information such as 1000 dollars, but it would be better if you have money in the account because they may perceive this amount as capital.
Unfortunately, you cannot obtain a residence permit from the state, the most valid document may be an account statement from your bank with your name and address clearly on it.
I opened an account at Merkurybank. The debit card I applied for did not arrive at my address. They sent a new card. What is the reason for not arriving at the address? They cannot provide a tracking number or address. How can I track the shipment and ensure it arrives?
Mercurybank no longer sends cards to TR. You can request the card to your company address in the USA and have it sent to TR from there.
If we have Turkish characters such as ö in our name during the application, do we need to enter them as English characters? Or should I enter the correct one?
Never use Turkish characters anywhere or in any document. We recommend using O instead of Ö. It is possible that problems will occur in the future.
I opened my Mercury Bank account through you, but when I withdraw money and the money arrives in foreign currency to my Turkish Business Bank account, the bank charges a SWIFT transaction fee as per its discretion. Is there a way to shoot without being subjected to this interruption? I withdrew 150 dollars, it was transferred to my account as 130 dollars and an extra 15 dollars was deducted from SWIFT in a second. I received a payment of 115 dollars from 150 dollars, but 35 dollars was lost
Hello
When making a transfer, make a withdrawal by paying a 15 USD commission to Mercurybank, there is such an option, this way you will pay the swift fee from the beginning. If you were charged more than 15 USD even though you used this option, it probably depends on the policies of the bank. Ykb also deducts Ekatra fee, but as far as we know, Odeabank does not deduct anything other than 15 USD, you can use this bank.
We also recommend that you make these types of withdrawals in bulk. You will pay a commission each time you try to withdraw the balance. Bulk withdrawals will be more economical at Mercurybank.
According to Payoneer and Wise, 15 USD fixed swift fee will be very economical for Mercurybank, they also have higher commissions. Unfortunately, shooting abroad is not possible in this way and the commission-free shooting option is not possible in Swift.
Thank you very much, I will try, do you use Mercury Bank? What is your experience? We ordered a card and we will have it brought to Turkey. There is a daily cash withdrawal limit of 1000 dollars from ATMs. From which bank can we withdraw dollar cash and what is the commission in this area?
Generally, ATM cards cannot be used, the commissions are too high, it makes more sense to transfer with Swift instead. You can make an economical transfer from Mercurybank to your Tr Dekinusd account by paying only 15 USD. I do not think you will get the limits.
But there are limits at ATMs and there are very high withdrawal fees. Use Odeabank and open a USD account. You can withdraw economically by transferring USD from Mercurybank to Odeabank.
Also, for the Etsy digital store, do you think it makes sense to open a Payonerr business account with my US company or Mercury? My only problem is that I don't have a store link yet. How about if I send this to mercury as an e-mail?
Mercurybank wants to see a project, you need to present an e-commerce website or a marketplace store, otherwise your application will probably be rejected. Payoneer businesses does not want a project, you can look at that.
Hello, first of all, thank you for your help. My problem is that I will open a store on Etsy and sell digital products. My company was formed in the USA, but Wise Us has stopped providing account information. First of all, I want to ask this. There is no clear answer anywhere. Can I connect my Wise Canada account information to my Etsy digital store? Or can I open a Payoneer business account through my US company and use it on Etsy? The topic is boring me, there is no clear answer, I do not want to risk the store I am going to open.
You can open a Payoneer businesses account and connect it to Etsy.
Hello, I have a wise corporate account on my LLC company. Last month, wise sent an e-mail and gave me until August 13 to confirm that I reside in the USA. Is such an application normal for a corporate account and can you help me with what I should do? I reside in Turkey
Wise also started to impose some restrictions on USD balances in corporate accounts. You may probably be having an issue with this
Hello, I provide digital marketing services for businesses in the USA and as far as I understand, they did not accept my first application to Mercury.
I sent an e-mail and they didn't tell me the reason, but they said you can apply again.
I didn't need a website because of the work I do, but now I will set up a new website and apply again with it.
What comes to my mind is that you said in one of the comments that it is not possible for them to approve a website that is not formed for e-commerce purposes, or I may have misunderstood.
In your opinion, in order for my application to be approved, should I create a website related to my business, or should I pretend to be an e-commerce business and create a website for it?
Hello,
In your experience, digital marketing websites are often rejected unless they have a very professional impression. They look at your traffic and website age, their attitude is not exact in order to prevent abuse under the name of digital marketing.
Maybe you can try to apply with a professional website that gives the impression of a global software company, or you can try with a standard e-commerce website. Without the website, they cannot know what you do and security teams will not approve your account.
We hope these notes were useful.
Thank you very much for your answer.
I will create a website that looks like a software company and apply again. After all, it's kind of closer to what I do.
Apart from the information you have stated above, if there is a new update when opening a Mercury bank account or anything different that I need to do during the application, I would be very happy if you could share it with me.
Emphasize that you will be doing business in the USA and provide detailed information about your business on the form during the first account opening. Among the requested documents is an account statement from a bank in your country, which you must also upload. If your project is compatible with the bank's policies and they take it into consideration, your account will be approved within 2 business days.
Hello again. I set up a website, entered my information as if it were a software company, and emphasized that my customers were in Usa, but they still rejected it. I still don't understand what's the problem. When I send an e-mail, they do not tell me the reason why they rejected it.
Have you met all the requirements correctly? It is useful to correctly answer the questions on the bank statement and account opening steps. However, the approval part is at their discretion, they do not say why they rejected it. If not, you can try Airwallex or payoneer businesses alternatives.
So, I am sure that I entered all the information correctly, but in one of the comments above, you said that the registered agent address can no longer be entered in the Company address section, I just saw this and while logging in, I entered the registered agent address in that section and my own home address in the home address section, could this be the reason?
Home address is your residence address and company address is your company address. It would be sufficient to enter as in the article and prove your address with a bank statement, but since we do not know what you logged in at which stage, it is difficult to guess what is right or wrong. I wish you would continue by following the steps in the article.
As you said, I entered correctly by following the steps in the article. Still they refuse for a reason I don't understand. My company is in the USA, do Airwallex or Payoneer business offer Usan bank account information? My only goal is to open a Stripe account with US bank information. Or do you have a service that helps you open a Mercury bank account? I can't continue my job because I can't get paid, I've been waiting for a month with my hands tied.
Yes, they do, they provide USD accounts, you can check the alternatives if you want.
Thank you very much for your help. I searched on the Internet for days or weeks, but I could not find a solution to my problem. I could not find the help you provided in these 2 days anywhere. I truly cannot thank you enough.
Hello, I have a Turkish website based in Türkiye that I opened before. The website is blog style but professional. The only problem is that it is Turkish. What do you think would be my chance of acceptance if I applied using this site's corporate e-mail address and in Turkish? Or what happens if I change the entire site from Turkish to English and apply? A blog site where I share about games.
Hello,
do not apply with a Turkish website, and they probably will not approve such blog projects. Instead, it would be better to open a product e-commerce store in English and apply after completing the content. Because the purpose of this bank is to transfer the income obtained from the USA, they do not approve a website that serves different countries (also not established for e-commerce purposes).
I can set up an e-commerce site, no problem in that regard, but there will be no payment method on the e-commerce site. Will the bank mind this? The site is completely full but no orders are placed. Virtual POS is not installed
There is no problem with this, when you open an account you tell Mercurybank that you will receive payment. The important thing is that they approve the website and comply with their policies.
I'm applying for Mercury, but when I type in my address, it doesn't appear. How can I pass this stage? Emergency Aid
It is not necessary to enter and exit as you can prove with Farura.
Hello, I have had a Mercıry bank account for about 9 months. Recently, Amazon asked for 2 months of account statements and invoices issued to US-based customers. We sent Amazon payout summery and it was accepted, but what documents should be sent to customers for the invoice or contract. We only ship products to Amazon. The warning received is as follows.
For customers
Invoices and/or contracts between your company and your US based customers. Please ensure the documents provided reflect transactions in your Mercury account.
Please keep in mind the document you will upload needs to contain your customer information in the US and/or your customer needs to be located in the US.
Hello. What are the commissions when we withdraw from Mercury to our TR bank dollar account? Thank you.
Hello,
Mercurybank does not apply commission, they only charge a transfer fee fixing fee of 15 USD, so whether you transfer 1 dollar or 100000 dollars, they only charge 15 USD transfer fee. Thus, there will be no surprise interruptions when switching between different banks.
Hello. After the 15 dollar fixing fee on the Mercury side, does the target bank also apply a commission? Do you have any information about this?
No, you can re-read the written answer, there is also information on this subject there.
Hello teacher,
I will enter my work email during Mercury registration, but can we change it afterwards? I want it to be on my main email account that I use all the time.
Thanks.
You can change it later, but applying with a corporate email (same domain as your website) will be advantageous during the approval phase.
On June 2, as an LLC company, I filled out the Mercury application forms completely. There was no response, positive or negative. I also wrote to the customer services. All documents on the corporate website are complete.
What should be done? Should we look for other alternatives?
Have you applied with our reference? Approval is faster in referenced installations. Additionally, the waiting period has been quite long and there may be something missing in the application. You may need to re-apply with a different email according to the instructions in our article.
Hello,
When I pull out my bank account statement, my address does not appear, but it does appear on my credit card account statement. In an account opening video, we are told to send a bank statement and that it must contain at least 1000 dollars. According to what you said, there is no such thing, but I still want to ask just to be safe, thank you.
Hello,
It would be beneficial to send an account statement with a balance in it, but it would not be right to give clear information about the amount. There were also accounts opened with even low amounts of TL balance. If there is no address on the statement, there may be a problem. If you have the opportunity, going to the bank branch and getting an account statement with your address will solve your problem.
Hello, I am opening a new LLC company in the state of New Mexico. I want to work with Mercury as a bank, but when I did some research, I realized that the approval rate is low.
I wonder how much money needs to be in the bank account statement? I heard somewhere that at least $1000 is required.
If I had to briefly talk about what my company will do, I will offer mainly European software services, but I think I should mention that my customers are in Usa. In this case, I think what I will do is a website that contains appropriate English and products that comply with their policies (I didn't fully understand this, I am thinking of offering 1 service regarding software).
If I do all of these correctly and completely, will my chances of getting rejected still be high?
Hello,
They approve the project, as long as your website or Amazon store looks professional. You do not need to have money in the bank. This is not real information. There were even people who were approved with a balance of 2.3 thousand TL in the bank statement for address confirmation and to show some capital. You do not need to deposit money to Mercurybank.
You provide all the information completely, there is no possibility of rejection, your website is sufficient to be complete and professional.
Hello, do the company name and the domain name of my website have to be the same?
It is not mandatory, the domain name must belong to the company owner and the application must be made with an email address belonging to the domain name.
Hello,
I have an SSN. Do I still need to provide a passport?
Hello,
Those with Evwt SSN also need to verify their identity. Do you not show your ID or passport when opening an account in any bank with SSN? The way it works is the same
Thank you for your comment,
During the application, is there a field where I need to enter my SSN number in addition to my passport? Is it necessary for me to enter my SSN or is my passport sufficient?
Also, you said to enter your home address in the compamy address section. However, the legal address of my company is the US address that I purchased as a private suite. Wouldn't there be a conflict of information here?
Hello, if you select the "I am a US citizen" option, of course the field for entering your SSN will appear. You will also be asked to upload an ID card or passport.
You should enter your US company address in the Company address section, and in the residence address section below, enter the address where you reside. You may be asked for a US or TR document, so enter an address that you can prove in that section.
Hello,
I am not an Usan citizen, I only got an SSN when I went there for work. If I enter my SSN when I say I am a US citizen, is there a possibility that there will be a problem later since I am not a US citizen?
You must choose which country you are a citizen of. Likewise, you must enter the address in which country you have a documentable address as your residence address.
Hello,
I am waiting for my company to be formed for my EIN application and I am making preparations in this process. What kind of documents can I provide if Mercury requests proof of address for my application? I do not have any invoice other than the internet invoice, and it is just sent to my e-mail as an e-invoice. Is it possible if I send a residence permit or bank account statement?
Thanks.
You can submit an account statement from any bank that matches your name, surname and address when applying. They also accept telephone, ADSL, Natural Gas, etc. invoices in PDF format.
Hello sir, at what stages is a passport required? I don't have a passport, will this hinder me? Can we open FINCEN BOI and Bank accounts without a passport? thanks
Unfortunately, you cannot open a Mercurybank account without a passport. You will need a passport.
Even though I gave everything completely and correctly when opening a Payoneer individual account, I was rejected and when I wrote to support, I received a reply saying "look for different alternatives, there is no return on rejections".
I wonder if this is the case with Wise, Mercury and Stripe? I think you can re-apply to these infrastructures with new e-mails, right? I couldn't find a clear answer, I would appreciate it if you could inform me. Thanks.
The website you will apply for when opening a Mercurybank account must be complete, it must be in English, it must contain many products that are compatible with its products, it must look professional, and the website must be in the name of the company owner. Likewise, if you are going to apply through a marketplace such as Amazon or Etsy instead of a website, the store must belong to the company owner and the products must be listed. In summary, the project you will apply for constitutes 90% of Mercurybank's approval, the remaining part is to submit the required documents, these are documents such as passport, bank statement and invoice.
When applying for Wise businesses, do not submit a website or store, you can apply directly with your company information and ID.
The procedures and requirements of each bank may be different, so they keep the reasons for approval or rejection reserved. The important thing is to provide all requested information and documents sincerely and accurately.
Thank you very much for your answer
Do you think our domain and corporate e-mail address should be our company name or the brand of the product we sell? Because they will be able to see our company name in the policy section to confirm the company?
There is no such requirement, your web address may be different from the company name.
Hello, do they give a second chance if the Mercury application is rejected?
How does the process work or are we giving up hope?
You can apply again after learning the reason for rejection and completing the necessary deficiencies. In this way, there are many people who correct their deficiencies, apply again and receive approval. If you convey your situation to them accurately and sincerely and correct the deficiencies, you can get approval.
Hello, I live in Turkey and I formed an LLC in Wyoming state so that I can manage e-commerce activities in Usa and I have Mercury, Payoneer Business, Wise Business accounts. I'm stuck sending money for equity in my company. What is the cheapest way to do this? It is said that too much commission is charged for SWIFT. Is there a way you can recommend or say this is generally used?
Hello, my account was approved on April 1, 2024 and I was told that the card would be sent to the TR address I specified. To date I have not received the card. Has anyone applied recently and received their card? How soon should I request the card again?
Greetings,
Can
I applied last night and it was approved immediately, it didn't take an hour.
After completing the application, I received an e-mail asking the questions in the application again, asking for a document to verify residence, then I received another e-mail asking for a document of my e-mail number, and when I refreshed the page, it said things like your card will arrive in 10 days and there were phrases such as approved, I can use it actively now, average e-mails arrive. And it didn't take 30 minutes for my submission to be approved.
Hello, I applied on May 11. All procedures are ready.
A message went like this:
“We wanted to provide an update on your latest application. We are still in the process of reviewing your application and will contact you as soon as our review is complete.
To speed up your application review, connect your existing bank account to Mercury and schedule your first deposit.
The transfer will not be initiated until you approve it, and if we are unable to open an account in your name for any reason, the transfer request will be cancelled.
Applications with a linked bank account and planned transfer are prioritized by our review team and usually reviewed within one business day.
When I say link an existing bank account, do I have to wait for it to be approved?
If you have additional bank accounts such as Payoneer business or wise businesses, you can speed up the approval by connecting them. If you do not have an account, you will have to wait for the approval process. If there is no additional situation, they will probably approve your account.
Thanks for the feedback.
I don't have a Payoneer or Wise account yet. I think I'll wait for it to be approved.
Hello Mr. Nazmi, by reading the content on this site, I formed my company and obtained an EIN myself. Thank you very much for sharing your information with us. Now it's time to open a Mercury account. When my Etsy store was closed, I opened my own website through Shopify. However, I cannot currently receive payments from this site because I do not have a bank account, and of course I could not connect it to Stripe for the same reason. I read that I had to provide the link to my website when opening a Mercury account. My website is active but I cannot receive payment right now. Will I have any problems opening a Mercury account because of this?
Hello,
when opening a Mercurybank account, a completed English website that complies with its policies will be helpful during the approval phase. The more professional your site is, the easier approval will be. Write sincere and accurate notes to the questions asked when opening an account, they will probably approve your account.
I understand, thank you. Do you think it would be appropriate to register with gmail instead of a work e-mail? Does the e-mail account affect the approval status?
Gmail may be a problem. They take more into consideration business e-mail. If you do not apply with a business e-mail, they will probably want to verify your domain ownership.
Hello. In the article, you state that “to open an account, you must have an e-commerce site or at least be a marketplace seller of global brands.” I will sell my products on my own e-commerce site, but I cannot set up an e-commerce site that makes active sales (that is, accepts credit card payments) if I do not have an account in an American bank. I think there must be a detail I missed. I would be happy if you inform me. Have a nice day.
Batur
Then you should write an explanatory text stating that you do not have any projects and that you will open an account in the future. There are also people who get approval this way, but the chances are slimmer. By the way, we do not specify these conditions, you can look at the bank's FAQ because they recommend applying this way.
Thank you, Mr. Nazmi. Today, I applied for company formation through your page. I am considering applying to Wise if Mercurybank does not restart accepting applications from Turkey until the setup and EIN is completed. I have already opened a shop on Etsy. Have a nice day.
Greetings, I applied with great care, strictly following the information and warnings here and in different sources. My application was rejected, when I requested the reason in detail, I received a warning (newly updated) in the FAQ section that the applications of those whose residence is among the following countries are rejected. I think Turkey has just been added to this list.
Hello,
Türkiye does not appear on this list, where did you look? Additionally, account opening is still ongoing.
https://app.mercury.com/help/prohibited-countries
Could there be another problem?
They referenced the following address https://mercury.com/faq and added that they added it to the title below. Unfortunately they added Turkey.
“Can I apply for an account if I'm not physically in the United States or a United States resident?”
They had done a similar practice in the past and Türkiye was temporarily excluded from the supported countries and was reopened after a short time. It is most likely a similar and temporary application.
Until the situation becomes clear, you can try to open an account by considering Wise businesses, Payoneer business or Airwallex alternatives.
It seems that Türkiye has been removed from the banned list.
Hello, I registered with a new email (same domain, but I was asked to open it again for the new registration). Mercury support team informed me that I could not continue with your rejected e-mail, I registered with a different e-mail, it was accepted and my account was opened.
Hello sir, how long did the approval take and did you install it as in this article? Is it up to date? If you let me know the points that have changed and need attention, I would like to open it too. Thanks.
Hello,
How can we send money to our Mercury bank account in our bank in Turkey?
Hello. I set up an English site using Wix (not a paid account). I couldn't buy a domain because I didn't have a paid account. Therefore, I have a domain address assigned by wix (for example aliveli.wixsite.com/abc). This is a site that is closed to sales because it is not a paid account (sales are only made in appearance, the payment page is not working). I created this site to open an account with Mercury. So I won't use it. If I give Mercury the web address assigned by wix, do you think they will accept it?
Hello,
Mercurybank requires domain ownership during account approval, and we even recommend that you apply with the corporate email address of the domain.
The more professional your project looks, the easier it will be to get approval. In summary, it is very unlikely that you will be able to get approval with temporary projects.
Hello again. I followed the steps in the article strictly. I did what I needed to do in line with your answer to my question (paid wix account, domain, corporate e-mail). I then applied to Mercury and my account was activated WITHIN A FEW HOURS. I can use my account now. Thank you very much for your help. If I had known about you before starting my company, I would have sought help from you regarding setup and other issues. You really do your job very well. Thank you very much again and again.
I would also like to thank my friend Serdar K. for responding to me. However, it seems that providing the complete information requested by Mercury reduces account opening times to just a few hours. It is useful not to overlook this.
Hello, I don't want to mislead you, but if you take a look at the other related articles. Even though Mercury directs you for the web, if you say you want an account for the first time you will sell to marketplaces like this or that without a website, an account will be opened. Even though it was a website, I opened it without giving it away. For your information
If you write an acceptance letter that describes your job very well, there is a chance that it will be approved, but since there are too many security teams, there is a possibility of problems if you come across an officer who will cause problems, however, the decision is yours.
I cannot thank you enough. Thanks to the information you gave me, the tasks of forming an llc, opening a Mercury account, and Stripe integration, which did not seem possible for me, were completed. Mercury approved my application in exactly 2 days. Stripe was active in 10 minutes. I started receiving payments. May God bless you. Thank you
You're welcome, Congratulations. We wish you good luck
Hello,
we have opened an account, but it does not show the side panel without passing the "Add funds to your Mercury account" step. It demands payment, I guess it won't activate without doing this step. The interesting thing is that every menu is open on mobile. How much USD should we send? as deposit
Wait for your account to be approved. It does not ask for payment. If you have an extra bank account, it will ask you to add money if you want to connect it (optional). If the account is approved, the panel will open. Since it is currently in the approval phase, you should be able to see those sections. Any changes you make in those sections will not affect the account approval. A positive or negative response will be received within 2-5 business days. Our suggestion to you is not to use Mercurybank's mobile app for account openings because account openings work better on the desktop browser. In summary, do not rush and wait for approval if you want.
Thanks for your detailed answer. 🙂 and also thank you again
like , Congratulations,********* — your new account has been approved! We seem to have received approval (account number etc. arrived) but there is still the above section (Add funds to your Mercury account) status. I guess we'll still have to wait.
You're welcome, congratulations!
That section must be used to transfer money to the account. Why do you want to enter that section and transfer money? If the account has been opened, you can now use it.
Hello Mr. Nazmi,
the screenshot https://hizliresim.com/tgobnd1 . in order to express. I have a mistake somewhere but :)
Best regards,
If you want to add no balance in your account, you can add it with your transfer information. There is no problem now, in fact, you can receive cash into your account given your bank account information, so you do not need to add payment.
Thank you for your always positive and informative answers :)
Hello,
I am opening a Mercury account in 2024. In the current installation, you cannot write your own address in the company address section, because you cannot select tr in the country selection section, and there is a residence section at the bottom. I entered my address there. My problem is. State: FL, the system does not accept the address at all. I wonder where I'm making a mistake?
The article steps are up to date, please check again. Enter your US company address at the top and your residence address at the bottom.
Hello. Can any institution in the USA block a Mercury account?
Hello, the account cannot be blocked for no reason. If there is a lawsuit or similar situation, of course it may be blocked, this is completely natural.
Mr. Nazmi, we rented an office in Usa. The office's payment was a month or two late. In this case, will it be blocked?
It would be better if you consult a lawyer about this. Unfortunately, we cannot provide legal consultancy as we are not a law firm.
Unfortunately, Mercury Debit Card is not currently available in Turkey.
I received an email like this from mercury ->
'Due to international regulations we are not able to ship physical cards to the following countries: Russia, Belarus, Afghanistan, Palestinian Territories, Eritrea, Ethiopia, Turkey, and the occupied regions of Ukraine'
Yes, for a solution, you can request the card to your company address in the USA and then request paid shipping to Turkey from there. However, you can use virtual cards. ATM commissions are incredibly high and dollar withdrawals are now limited at ATMs in Turkey. Even if you have a card, it will not be of much use anyway. You can make cheaper transfers with international Swift transfer. However, the choice is up to you, of course.
Mr. Mert, have you made any progress on this issue or do you have a solution suggestion based on your experience?
It has been 2 months since I requested it and it has not arrived. I will request a new one, but what can we do if it is confirmed information that they did not send to Turkey? Thanks
Hello, I have a suite address for the Company address instead of the Registrated Agent address. If I enter the suite address in America, will they still request an electricity or water bill?
Also, the address is requested again right below. What exactly should I do? What is your advice? Thank you.
Enter your US company address as your company address, and your residence address is requested in the field below. Read and fill it in. No one will ask you for an invoice for your US address. Sometimes, it is rarely requested for your residence address. If you do not have an invoice, you can send your residence address from the state.
Thank you.
In the Owner Profiles section, should we say 100% for Ownership percentage? (Please create owner profiles for any co-founders, owners with at least a 25% stake in your company, or anyone who has control over your company's finances (like a CFO).
I couldn't understand what you mean exactly. We have a legal percentage in the companies, otherwise Shall we write 100%?
100% you can
THE SCREEN OF MY PHONE IS BROKEN, I CANNOT LOG IN TO MY MERCURY ACCOUNT BECAUSE 2 FACTOR AUTHENTICATION IS ACTIVE. I WANTED TO RESET, I SENT IT 10 TIMES, THEY DID NOT ACCEPT IT, THEY SAY THE ONE YOU SENT ME WHEN OPENING AN ACCOUNT DOES NOT MATCH MY ID, IT'S NULL, I'M UNKNOWN WHAT TO DO?
While installing Google 2FA, Mercurybank creates recovery keys for you on the registration page, you can recover your account by installing these codes. Option 2: You can restore the accounts by opening the Google Authenticator application from another phone. If it's option 3, try getting your phone repaired.
ID is not used to open a Mercurybank account, a passport is used, you need to send a passport instead of ID. In fact, these are not nonsense; they are security measures taken to prevent the account from falling into the hands of others.
If your passport does not match, send your passport instead of your ID or look at other options, otherwise you will not be able to open the account.
Hello
How can we withdraw money from our Mercury account to our bank account in Turkey? (Can I also withdraw from an ATM)
Thanks
Hello,
click on “Move money” in the banking system and then click on “Send”. In the window that opens, click “Add New Recipient” and add your address, name and surname in English characters along with your USD account information in TR. You can transfer dollars from USD to USD after selecting the transfer type "International Wire" and entering the transfer amount. To fix shipping and swift costs, you can fix the Swift fee to $15 by selecting the “Send as OUR” option instead of free. This way, you will not encounter surprise deductions and charges. The purpose of this is to prevent some banks from charging unexpected transfer fees. Of course, with the free option, some banks may not charge any commission.
Banks charge a lot of commission from ATMs and it is quite expensive. If you think the commission is not important, you can also withdraw from ATM. It is up to you.
Hello, I wish everyone a happy new year.
Is there anyone who opened a Mercury account and received a debit card in the last 1-2 months? It's been about 3 months and I haven't received my card. I contacted Mercury and they wanted me to order a new card, I canceled the old one and asked for a new one, but the second card did not arrive either. It's a little strange that both cards did not arrive, there is no problem with my address, I even pinned it on Google Maps. I think it is sent via PTT, they say they cannot track it because there is no tracking number. There is no place left that I haven't looked for or gone to. The only thing that comes to my mind is that there has been no balance coming in or out of my account so far. I wonder if that's why they say we sent it and they don't send it or there is a problem with the cargo companies. I couldn't solve the situation. Does anyone have any information on how we should go about this? Thanks.
Since it is a shipment without tracking, it is usually lost in PTT centers, or they may not be interested in it and do not distribute it because it is not tracked. Virtual cards work, but if a Debit card is essential, request the card again and ask for the card at your company address in the USA. From there, they send it via paid UPS, it arrives in a short time, but this time it may cost you a lot.
Hello. Mercury has locked our bank account now. Does anyone know how we can open this? The document they want from us: – Bank statement issued within the last 60 days!
• Utility bill issued within the last 60 days
• Tax return from the previous year
• Unexpired Government Issued ID showing your new address
Hello, enter your verifiable address where you reside in Türkiye as your physical address. Upload a service invoice (electricity, water, ADSL, wire) for the last month registered in your name.
Also, in the options at the bottom, mark the section where I will operate in the USA in the last six months and mark the capital section as equity. Upload an account statement with a balance from a Turkish bank as proof of capital and the account will be activated again.
This is not a special situation for you; in general, they sometimes apply this procedure to some accounts.
Hello again. We have completed six months in our Mercury bank account and we did what you said on time. But now it is locked and tells us “It looks like you don't currently have access to any Mercury accounts. If you believe this is a mistake, contact an account admin or email help@mercury.com
Open New Business Account”(It looks like you don't currently have access to any Mercury accounts. If you think this is a mistake, contact an account administrator or email help@mercury.com Email mercury.com
Open a New Business Account). What do we need to do for this?
If you want to provide this information by e-mail, ask for the account to be opened, and ask them directly why it is not closed, because it is impossible for us to predict the reason for closure or suspension, and the advice we give may not be useful. In response to the mentioned e-mail to customer support, you should both ask for clarification and try to provide the necessary documents.
Mr. Nazmi, thank you very much. Regards and love..
Sir, when registering with Mercury Bank, will we write our residence in Turkey in the company address section?
You need to write your residence address in the physical address section, you can follow it if you follow the steps.
Hello,
I have an LLC company and my Mercury bank account is active. I received it on the card.
I created an order to send 901 dollars to my VAKIFBANK USD account in Türkiye. 886 dollars arrived in the account. Afterwards, the 3 banks commission of $10 stated in the receipt from Vakıfbanta was deducted. The net amount transferred to my account was 875 dollars.
There is no receipt or information about the $15 deducted from the $901 I sent to Turkey from Mercury. Vakıfbank states that it received 886 dollars.
Is there an error in the process? Although sending money from Mercury bank to a Turkish dollar account should be free, did I do something different? Can you correct me if I have any wrong information? If there is a mistake in the process, could you please tell me how to fix it?
I wish you good work. Kind regards.
In international swift transfers, the money passes through more than one bank. At these stages, a bank or your bank may have charged a transfer commission. There is no receipt for this and you cannot track who cut it.
Mercurybank does not make the deduction; it may be another bank in between or your bank in Türkiye. The first exit from Mercurybank is free, but such situations are quite natural in Swift. It may seem strange since it's your first time using Swift, but this is normal.
By the way, in order to avoid such deductions during the Mercurybank transfer phase, you can fix the transfer transaction to a fixed commission by paying 15 USD in advance.
In fact, if we look at alternatives such as payoneer and wise, we can say that this commission is free. Continue using it this way, you have not done anything wrong. Good luck.
Thank you very much, Mr. Nazmi. So, is paying 15 USD a one-time solution? If so, it doesn't make sense. Or it may make sense for higher amounts.
Do you recommend that I open a Payoneer or Wise account on behalf of the company and send it from Mercury to here, and from there transfer it to my USD account in Turkey? Will there be any interruption when I order a transfer from Payoneer or WISE to a Türkiye account?
Thank you very much for your answers in advance. I wish you good work.
Kind regards
You can fix the commission fee to 15 USD for each transfer. Unfortunately, there is no one-time commission for Swift transfers.
You pay higher commissions for Tr transfers to Wise or Payoneer. If you calculate it from their websites, it is at least 5 times higher. You can't find a cheaper solution than this. 15 USD is not a high expense in a trade, unfortunately there is no cheaper or free solution.
Hello, our company formation process has been completed and thanks to you, we have sent our EIN application, thank you again for this.
I have a question. I am now researching bank account options. You recommended above that it is necessary to add a website link for Mercury, such as etsy, amazon etc.
Apart from e-commerce platforms, I have personal profiles on freelancer platforms such as Upwork and Fiver, and a US account is required to receive payments from there. Would it be a problem if we included the profile link on these sites by telling about the work I do? Or should we not mix them at all and continue with profile links on e-commerce sites such as etsy and amazon, which would be more logical? Among my options is designing a website that suits the company profile. Since I have formed an llc for general use for many businesses and to be consistent. I want to determine a suitable strategy in advance when opening an account, in order to avoid any problems. I would appreciate it if you could answer, good work, thank you.
Hello,
you can also offer platforms such as Upwork and Fiver. The important thing is to pay attention to these in the project you will present;
1. Appealing to US customers
2. Being active
3. Belonging to you
4. Showing a platform full of content and truly active trading
If you write the information requested from you when opening the account clearly and correctly in English while showing the project, the account will probably be approved.
Hello,
Thanks to you, I received my EIN number quickly. Can I start opening a bank account at Mercury with my EIN number on my SS4 form, which is sent to you via fax from the IRS? Or will we have to wait for the IRS to mail the documents?
Thanks..
We pray. Sometimes, when opening a Mercurybank account, ID numbers are automatically verified and sometimes documents may be required. In order not to take any risks, it is better to wait a few weeks, it will be more guaranteed when the document arrives.
When opening a Mercurybank account, the address of the registered agent is no longer entered as the company address. Be careful to create an account by entering your address that you can document in your own country of residence.
This answer was very good. I was planning to enter the address of the Registered Agent directly. Thanks a lot.
Can we use our TR phone number when we reach the bank account opening stage? Or should we get a virtual US phone number? Thanks
You can give your TR mobile number
Hello
I have Mercury and Wise / Payoneer business accounts.
I will buy a product from somewhere in Usa, there is no money in the accounts. How can I easily transfer money from my personal account to Mercury or other accounts?
Will there be a problem because money is coming into the company from my personal account? Both for my company account and accounting issues.
Finally, can I give the debit card I received to a wholesaler who wants a credit card?
You can send money to your bank from Türkiye via Swift. It does not pose a problem in terms of accounting; you will have added capital for the purchase of goods.
It is difficult to understand why you would give your debit card information to a wholesaler. Did you mean to pay with a debit card when purchasing goods? If so, you can do it if there is a balance in it, you do not need to ask because the cards are used for these transactions :)
Thanks very much for the answer.
I realized I used an incomplete statement, my wholesaler only accepts payment by credit card. I meant to say can I pay with my Mercury debit card (via mail order method) :)
Yes, of course, you can create virtual cards and make your payments as long as there is sufficient balance in your Mercurybank account.
Hello, unfortunately an email arrived today and wise turk will no longer be able to send/receive money to its users.
I have a question for you, is this also valid for our wise business accounts for companies we open in the USA or is it out of scope? I paste the email;
After 30 August, you won't be able to:
Open new balances and Jars to hold money in different currencies.
Convert between your wise balances.
Add money to your existing Wise balances.
Send transfers from your Wise balances.
Receive money into Wise. This means that any Wise account details you have will stop working, and any money sent to these will be returned to the sender. Let your senders know that they can no longer send you money this way.
After 30 August, you can still use Wise to:
Withdraw any remaining money in your Wise balance to your own bank accounts. Your money is safe.
Send international transfers through Wise directly from your bank account in Türkiye.
Wise usage will continue after August 30. You can look at the following news:
https://www.dunya.com/amp/sirketler/wise-turkiyeden-cekiiyor-iddialarina-yalanlama-haberi-696899
I applied the day before and was rejected. I am very depressed:( I am an LLC company and I have an Ien number, but I chose the international customer base option. If I marked it as USA only, would it be accepted? Most importantly, how can I apply again? How long should I apply?
Hello,
You probably didn't read the article completely. If you choose international, the biggest reason for rejection is because it needs to be specified as USA at the first stage, but after that it can be used as desired.
The second reason for rejection is showing a poor quality website or Marketplace store. It is necessary to pay attention to these issues.
Try to make a different application, but 99% of the time you will be rejected because you sent your ID and the systems now know you.
Alternatively you can use Wise businesses
Thank you very much for your quick response. I acted too early. I will make the corrections and apply again, maybe a year later, but as you said, I think I have lost one of my rights. Another thing I understand now is (misguidedly) that I made such a mistake. Wise bussinesses, I opened the account. It's good to have a question in the comments, I hope no one makes the same mistake I did. Have a nice day :)
Have a nice day:)
Hello again, I experienced an interesting development. In response to the application rejection I received yesterday; I wrote to the Mercury Bank platform that I had entered the information incorrectly, that I was a very new company, that I was an artist and that I had been doing my job in my own country for many years, that I was taking steps to enter the e-commerce platform and that I needed support in this regard, and sent an e-mail with the link to all my information. They accepted my application :) 1% chance is also possible. Communication worked. I wanted to share this too.
Congratulations, they usually do not re-evaluate, which means they believe in your sincerity. We wish you success 🙂
I applied for Mercury Bank and I can see the status information that your card has been sent, but nothing has arrived yet. Does it come to the address in Turkey via PTT? How long does it take to arrive? Mine has been 1 month but no one has arrived..
Yes, they send it via PTT without tracking and it may take up to 1 month. Try calling PTT and asking if there is any mail in your name. You can also write to Mercurybank support and state that your card cannot be received.
Despite waiting for 2 months, the card did not arrive. I sent an email to support. They asked me to cancel the old one and request a new one. This time I requested a different address. I hope it comes.
Sometimes they cannot verify your address. It is useful to provide an address pinned on Google Maps in the correct format and try it.
My Payoner account is currently linked to Amazon. I want to link my Mercury account because the commission rates are high. I tried before but Amazon didn't accept it. Is there anyone who can connect their Mercury account to Amazon without any problems?
Hello, I just received my MERCURY BANK debit card.
Can I withdraw DOLLARS from any bank's ATM in TR with my Mercury card?
How much commission does it take if I withdraw?
Does anyone have information?
Hello.
I do not recommend using the card physically. In general, when you want to make a withdrawal outside the country where your debit card is located, it is likely that both countries will charge their own banks a withdrawal commission. Mercury, as a financial institution, does not charge a fee, but there are banks that carry out this withdrawal process.
While I was in Ukraine in October 2021, I withdrew 90 USD and he charged me 10.25 USD commission. Maybe if I had withdrawn 1000 dollars, I don't know if he would have received the same commission.
But even if cash is to be withdrawn, I think less than 1000 USD should not be withdrawn.
Yes you can, but I wouldn't recommend it. Banks charge 8% commission. You cannot use it for online shopping in Turkey. You can use it for all your other purchases.
Are you saying that it can be used on POS DEVICES and physical shopping in TR?
Of course I've been using it for months. I use it including contactless payment. When you exceed a certain amount, it asks for a password and signature. It does not charge commission or any other fee for purchases. The only problem is that it can only be used for physical shopping.
Hello,
Can I shop from sites in the USA (in fact, online shopping sites in the tactical arbitrage application, such as Walmart, Target, Lego) with the debit card I will get from Mercurybank? If I can't, how should I find a way to pay for purchases for intra-US online arbitrage (e.g. buying at walmart and selling on amazon.com)?
Thank you in advance for your interest.
Hello,
Of course you can, it is a card that allows online shopping as long as there is balance in it.
Thank you very much for the information.
You're welcome. Enjoy your work
Hello, I opened a Mercury account according to what is written here. I will add it to Amazon as a deposit method, but there is no Mercury among the banks. How will I add it to Amazon?
You can add your bank account information manually. Aren't the routing and account numbers added for these banks outside the list?
Mercury does not appear in the hocoam bank name options. We already know that Mercury is an intermediary company. In the account information document I received from Mercury as a pdf, it appears as "bank name: Choice Financial Group". There is no such name in the bank list. That's why I selected other at the bottom and typed the bank name manually. The e-mail arrived yesterday. Because we cannot confirm your bank information. There is an account verification meeting tomorrow, let's see what happens.
Mercurybank is a financial institution, they work with Choice bank, yes. Interesting that they had to approve manually. It would be better if you share the status of an issue.
Alternatively, you can also use Payoneer Businesses. It should be available in approved banks and on Amazon.
Amenities
Hello
Have you been able to connect your Mercury account to Amazon?
I am currently connected to Payoner, but I want to connect Mercury. Since I tried it before and it didn't work, I didn't try it again to avoid risking it.
Sir, is there a minimum validity period for a passport? Would a short-term passport be sufficient just to open an account and get an ITIN?
They do not look at the minimum period, they check whether it is valid at the time of the transaction. So, if it continues to expire during the review, there will be no problem.
Thank you, bless you
Thank you for the valuable information.
Is Mercury Bank currently causing problems for Turkish citizens? Should we choose Wise?
Secondly, how many weeks after the Mercury Bank application can we set up Stripe and start receiving payments? Do we need to wait until the debit card arrives?
Thanks a lot..
Hello,
Currently, Mercurybank still serves Turkish citizens. If you are an LLC and have an llc EIN and a current passport, you can apply to Mercurybank by submitting an English-language website or a global marketplace link. Mercurybank verifies accounts within a few business days and sends your debit card to your residence address free of charge.
When your Mercurybank account is approved, they will give you an internet banking panel, from there you can open your Stripe account with your assigned account number and routung number. In summary, there is no need to wait for debit to open a Stripe account, just having your account number is enough.
If you do not have a passport or do not have a website or marketplace link to submit to Mercurybank, you can consider the Wise business alternative.
Note: Using a corporate e-mail when opening a Mercurybank account and sharing your personal social accounts such as LinkedIn, Twitter and Facebook with them greatly speeds up the approval time. It would be a good idea to write in the relevant field on the form during opening that you have opened a Mercury account, especially to receive payments from the USA.
Thank you Mr. Nazmi, good work and good luck.
You're welcome, good work.
In the ID verification section, it sends an SMS to our phone to verify the document and says that only passports are accepted. If we do not have a passport, we cannot register?
Not approved, passport required
First of all, thank you. I waited for all the processes to be completed to comment. Frankly, I wasn't sure I could do it, but there were no problems and everything was quite simple.
I founded the company in New Mexico, using a startupsole reference, and 3 days later, they made my eIN application free of charge, thank you.
The process of obtaining an EIN took 4 weeks. Meanwhile, I completed my other transactions. As soon as I received the EIN, I applied to Mercury Bank. They approved my account in about 3 days.
When the account was approved, I requested a debit card to my residence address in Istanbul and the card arrived within 2 weeks and I activated it. You can also use virtual cards. In fact, if you have different teams, you can request a debit card for them, too.
There is no card sending fee, and you can also use Mercurybank for free transfers.
I recommend this system to everyone. Thank you to the team for the guides and articles.
We thank you for your detailed comment and sharing your experiences. It is very pleasing that everything went well. We wish you success and abundant profits in your business.
Were you able to shop in TR with your card? Yes, the transfer is free, but what are the deductions in between? Also, have you made a withdrawal from an ATM? Do you have any information about the commission rates?
I didn't shop on TR, but I shopped on Amazon Germany and there was no deduction or commission. I also bought a SAAS software for my project and was able to shop from there in USD without any problems. He collected the money directly from my account. It may work in physical POS devices in TR, but it may not work in some places due to the 3D secure issue, you need to try it.
I made a transfer and a small trial amount was transferred to my account in TR on the 2nd business day. Transfers are free at Mercurybank, I called them and asked, and they confirmed that they have very good customer support.
Thanks for the information. Did tr bank charge a commission when you made a withdrawal to tr account?
Mr. Cenker does not charge any fees when withdrawing to his Mercurybank Tr account. If you try to send money in Turkish lira only to TR, you will be charged a certain amount of foreign exchange conversion fee.
You can try this yourself by adding some balance to your bank. Additionally, if you send USD to USD to Turkey, no matter how much money you send, it only charges a fixed Swift fee of around 15 USD, like every other bank. For more information, consult Mercurybank documents or write to them, they respond quickly.
See this screenshot:
https://paste.pics/decab642c8bef86c94f5ad3851d9a10a
No commission from me, you can try it and experience :)
Hello, which bank statement did you send during the Mercury account opening and did you request TR from the branch in English? Also, when you download it from the internet, there is no address information on it, how did you do that part of the account statement?
It does not need to be in English, some banks do not show the address part, but the important thing is that the address and name and surname must appear clearly.
If it does not provide an address as a PDF, we recommend that you go to your bank's branch and get a statement with a wet signature, with the address and name and surname visible.
It can be any bank, it is important to have a balance in it to be shown as capital.
Hello, my Mercury debit card has finally arrived. From which banks can we withdraw money to this card and does anyone have information about the commissions? I would be happy if you help.
I cannot transfer money from Mercury Bank to my TL account in Türkiye. As far as I understand, they do not do TL translation. 4. I transferred money and I get the same error in all of them. Translations are currently unavailable, please try again later or choose a different currency. What's the point of this? Is there anyone who can solve this? Also, my debit card hasn't arrived for several months. When the first one didn't arrive, I canceled and applied again. However, the second side did not come. I think their service approach is very poor.
Open a USD account with your bank in Türkiye and make a transfer in USD from Mercurybank to your Türkiye account. They do not translate into TL.
Many accounts have been opened so far and the problem of not receiving a card has never been experienced. Have you applied for support? Did you enter your TR address in the correct format?
I already have a dollar account, but there are a lot of interruptions. That's why withdrawing TL is more advantageous. My address is my normal address, so the format etc. is all normal. I entered my own address. But the card is not coming, I will call support.
For TL, use wise business. As far as we know, there is no dollar shipping fee.
You can also request support from Mercurybank on these issues and ask questions.
Can a different document such as ID or driver's license be accepted instead of a passport?
Unfortunately, Mercurybank only accepts passports. ID or driver's license is not accepted. If you do not have a passport, you can alternatively open a bank account through wise business. Wise business now allows you to create virtual credit cards. But Wise does not give debit (atm) cards.
If you want a debit card in the name of your company, you must obtain a passport and open a Mercurybank account.
How much is the Swift fee for dollar transfer from Mercury Bank to Turkey?
Mercurybank does not charge a transfer fee, but receiving banks may charge a commission. For this, Mercurybank will display a warning on the transfer screen that there may be an extra $15 deduction for the buyer. If the recipient does not charge a transfer fee, you can make a free transfer.
Hello, I also want to fix a small area. In Swift transactions, Swift fees are generally high because it is not known in advance how many banks will be between the sender and recipient accounts and it is very difficult to know which bank will deduct fees or not.
In this question, Mercury states that since it is on the sending side, it will cover the fees charged by the sending bank/banks, that is, it will not pass any fees to the sender. But it also means that the buyer must pay the fees incurred by the receiving bank(s). However, Mercury says that it will pay all payments that may arise on the receiving end as a result of a $15 payment to Mercury during the shipment step. Because it is uncertain how much the fee will be. It's kind of like insurance. When this is selected, the buyer will not be charged for this shipment.
Is there anyone who can withdraw money from Mercury Bank to their bank account in Turkey? I cannot withdraw money because there is no Turkey in the country options where the bank is located.
Have you submitted a support request? Sometimes they may work or update, it would be useful to send a support request.
I did not send it, I want to transfer money from my company account, but as I said, there is no Türkiye in the options, so I am stuck.
You choose the International Wire option, right?
I don't see such an option, and I don't think it can be done from the application. I couldn't do it from a PC. Almost all countries have it.
You can log in from the computer and select the International Wire option and make the transfer, but the transfer is not possible from the application.
We checked the accounts and if the transfer does not work, please request support, but the problem is probably due to the application. We have never seen such a problem.
Thank you very much I will try
I have been on the waiting list for a long time. Today I received an e-mail stating that I can activate my account. Has anyone else received any e-mails?
Yes, it was approved too and I activated it finally.
Congratulations Mr. Mehmet, good luck.
Could you please share your experiences at this stage? Did you submit a payment to exit the beta program? How did the process work?
My application was finalized after 2 months. I sent e-mails and was told to wait, then it was opened. I learned from what you and other friends wrote here that my account is in Beta version. Next to my accounts, it says beta too. However, I received a message from Mercury stating that I need to remove my account from beta version and that I need to do the following steps regarding this: I did not receive any e-mail, etc. I did not send any money to my account, nor did I receive any e-mail or warning to send it. Is there anything I should do at this stage?
They responded to me and said that I should continue with the beta version and they approved my application. But there is a section called FUND ACCOUNT and it asks me to choose a bank from there
. “Once approved, make a small transfer to your Mercury account to make sure it is ready for use.” writes. Naturally, since I could not choose a bank from there, I sent an e-mail asking how I should proceed and I have not received a response yet. Does anyone know how to pass this FUND ACCOUNT part?
Mr. Orçun,
If you let us know the developments about the process, many people can benefit from it.
Right now, everyone is in the same situation and there is no clear information, but somehow the accounts seem to be active through a different common bank.
have a nice day. They sent us a 58-page contract and we approved it and moved on to the beta version. Finally, our money transfer was successful (via wise). Now we have sent that money to the account in Turkey, I think the transfer will take place on Monday. They are working with a new bank in beta version. Your account before switching to beta is still valid, the debit card they sent belongs to the old account number. This is what we are told. Send the money to your new account number, which is the beta version, and from there you can direct the money to your previous beta account number via inter-account transfer. This of course says additional time 2-3 business days.
Let's say good luck then. Is there any information about the bank they work for in the contract? Is the bank mentioned?
Faha previously opened accounts through Evolve bank and Trust bank.
Will debit cards also be sent? Is there any information?
We kindly ask you to share your experiences, Mr. Mustafa.
Conveniences.
It is known as Choice Financial Group. We did not ask for a debit card, the accounts opened through Evolve bank and Trust bank are still open, they just do not accept payments. In other words, money is sent to the beta account opened through Choice Financial Group. From there, we will send it to the account opened with Evolve bank and Trust bank via inter-account transfer and try using the existing debit card, because that is what we are told. Also, your site is really enlightening. Do you have a telegram group?
Thank you for the information, Mr. Mustafa. We would like to follow the developments regarding the accounts closely, so that many people can be enlightened. We don't have a telegram group yet, but we are thinking of creating one soon. When we create the group, we will provide the necessary information.
Hello,
We recently opened an account with Mercury Bank, but after the account was opened, we received an e-mail saying that your account was opened within a few minutes after being told that we would get back to you within 1 week. However, there is the phrase "BETA" next to our accounts. Has anyone experienced something like this? How can I solve it?
There has been an update at Mercurybank for a few weeks, they were putting people on the waiting list during the application process, now accounts are slowly starting to be opened. Probably a new policy change has been made, but they still accept Turkish citizens who own LLC companies. They state that the regulation will be completed in a short time. Since it is a temporary update, there does not seem to be much of a problem.
have a nice day. We opened our account about 3 months ago. I asked a question here and those with knowledge and the admin answered it, thank you very much again. Unfortunately, we have not been able to send money since we opened the account. Therefore, we could not convert the amazon account to an llc account. We corresponded a lot, they kept saying they would solve the problem with Mercury, and finally they replied on Friday saying it was a beta version or something. I did not find it sincere that they said they would solve your problem with the beta version without telling me what the problem was, so I conveyed this. The email I received today reads as follows: “My name is Pedro, replacing Courtney! I will be happy to clarify what the benefits of a beta account will be!
Our current banking partner has placed some restrictions on Beneficial Owners in Turkey, which ultimately resulted in your account not being able to operate as it should. Our beta accounts use a different banking partner that has no restrictions when it comes to Turkish account holders, so if we port you you should be able to trade as normal.
If this is something you're interested in, let me know and I can get you all the paperwork to get started!” We said okay and they sent us a 56-page contract and they want us to sign it. They will probably do this to all their customers residing in Türkiye. I will elaborate here once I read the contract. I wonder if this has happened to friends here. If anyone has knowledge about this issue and shares it, I would be happy.
Mercurybank has not been accepting members from Turkey for a few months due to the war. Even though they say it is in beta, nothing changes because the restriction comes from the Usan bank to which Mercury is affiliated.
If they move you to another bank, your problem may be solved, but there is not much to do in the current situation. You can try Patoneer corporate card provider. They accept members from Türkiye because they work with a different bank. Have you thought about this?
Unfortunately, we do not have a corporate account in Turkey, Payoneer Corporate was requesting this from us. Do you know any other alternative banks?
You can send the payment in TL to Wise Corporate via Payoneer. Open a TRY balance at Wise corporate, they provide an IBAN for your company. Maybe he can accept a transfer there.
If you need a debit card, there are very few options. If a bank card is not required, there are alternatives such as vertofx and ofx bank.
Thank you admin. I accepted the beta as they seem interested for now. I think this is generally the case with this war conversation.
Thank you very much to Start up Sole for sharing the valuable information. My account was activated in about 1 hour and I am trying to figure out how to use it. There are two headings under Mercury de international and domestic wire details. Under these, there is a sub heading of beneficiary – reciving bank details, what are these? It means..
In the international wire details,
there are two different banks under the Beneficiary and Receiving heading, one is First Nation and the other is Evolve bank.
Where will I use the information here? I have never made an intercountry transfer before, I paid my supplier in China with my credit card.
What information should I use to receive payment from Amazon?
Which information should I use to send money to my account from Turkey?
Which one and how should I use when sending money to the supplier
? Simple questions, but I would be very happy if you could help me :)
Good evening. In order to convert our professional account on Amazon into a business account, we formed an llc in the USA and opened an account at Mercury Bank in the name of our company. For this conversion in our Amazon account, we first decided to send dollars to Mercury from TR and tried it on 22.03.2022. We sent the minimum payment amount of 100 USD. Today, qnb said that your money was refunded and it will come back to your account, the reason for the refund is unknown. (They said that they will investigate the reason for the refund and give you a report. Also, the 100 USD we sent was returned as 72 USD. Since we sent it via Swift, the intermediary banks, like JP Morgan, deducted that 28 USD. In short, we We were saying that we would deposit our capital to Mercury and make payments to the wholesalers that way. I wrote it at length in case this process would be useful to someone. As you know, we cannot get a credit card from TR in the USA, so when we are not physically present, we can deposit it to the debit card offered by Mercury. We would be happy if you share your information.
Generally, withdrawals are made from Mercurybank to TR, we have never tried the opposite, but it is a very ridiculous situation.
Could it be possible that the bank account information is incorrect? The reason for rejection is important, in fact it must be a definite mistake.
If there is anyone here who has experience, be sure to comment.
Thanks for your answer. So, do you think this idea makes sense, that is, transferring our capital to mercury and making our payments to wholesalers that way? Because you cannot deposit money in Payooner, you also experience many deduction problems. The thing about this business is actually Mercury Bank, but I couldn't figure out how we can put our money there. I hope someone reads and writes. Thank you very much again. Also, it is a very nice site, very informative, thank you for your efforts.
In fact, it is logical to use the right card, you can deposit a balance to the bank and pay wholesalers or expenses from the card. We also use Mercurybank debit cards in our business, but you have a transfer problem.
If I were you, I'd send a support request to Mercurybank and ask what's causing this. It is necessary to find out whether there is anything to be careful about when transferring money or the reason why the transfer failed.
Write an e-mail explaining your transactions and open a support ticket. The bank is very helpful and they will definitely answer your questions.
We thank you for your comment and liking, and we look forward to your support 😀
Thank you very much Admin. I will try Ferhat Bey's solution. I will definitely share this experience here.
Hello,
Yes, you are right, you touched on a very valid point. You can find a solution to this issue according to your company type. For example, I have the Single Members LLC company type. If you have the Single Members LLC company type, you do not have to make payments only from the company account. When I am in a difficult situation, I also use my personal credit cards as capital. You need to inform your accountant about this when making your tax return. If you own a Single Members LLC company, you can contact an accountant on this issue and get more detailed information and prepare an action plan accordingly.
Hello,
I recommend you to open a personal Wise account and make transfers via Wise. I also use Mercury Bank, and when I withdraw money, I transfer it to Turkey via Wise. You can pay much less transfer fee. Wise already allows you to open accounts in multiple currencies. I transfer it from the Turkish bank to the wise TRY account, then convert it to USD and send it to Mercury. This is how I ensure capital flow.
Thank you for your contribution, it is a very appropriate and correct solution.
You're welcome I have benefited greatly from your blog page so far. Thanks to you, I founded my company. I was very pleased with the service I received from you. We would like to thank you for gathering us on such a platform :)
.
Don't be shy, it is nice to exchange information because not everyone is knowledgeable about everything. Experience is more important than theoretical knowledge, so beginners can act more healthily.
Thank you for your interest, Mr. Ferhat. It was truly enlightening. I think your Amazon account is connected to Mercury. You receive payments through Mercury. So why don't you send it directly from Mercury to your account in Turkey? So when sending, we have to send via wise, this is the solution I understand now, thanks to you. But when we withdraw money, I think we can send it from Mercury to our bank account in TR without commission, am I wrong?
Hello.
Mercury accepts international payments, the sending bank and/or the receiving bank may charge fees for Swift transactions. Mercury does not charge fees for incoming wire transfers. Most likely, QNB made the cut for you.
For international payments, the recipient bank account name and the recipient name must match exactly during the shipping step. Otherwise, the receiving bank will refund the fee directly. Since the Mercury account is in your company's name, the recipient name should be your company's name instead of yours.
I recommend you check the shipping information again. You can also refer to this link for Mercury return codes reasons.
https://help.mercury.com/t/x2h3d0j/return-reasons
Hello teacher Şakir,
How many days does it take for Mercury to be transferred from bank account to TR USD account? I think you have been using it for a long time. I send from Stripe to Payooner, but I don't like the 2% commission I pay, and they can keep your payment waiting for days by asking for a document from Payoneer at any time. That's why I opened a Mercury account, but I would be very grateful if you could tell me how many days it takes for USD to be transferred to TR account.
Hello, I do not make transfers from Mercury account to bank accounts in Turkey. I made transfers to Chinese, Singapore and US banks. In fact, the transaction is completed within 1 business day, but it is necessary to keep in mind that this period will take 2 or 3 business days, especially considering the time difference.
Let's wait for an answer from someone experienced about the shipping time from Mercury to a Turkish bank account.
Good sales.
It comes to Turkey from Mercury in 2 days and is free of charge.
Hello,
First of all, thank you very much for all the information you provided, it is incredibly useful during the process :)
I opened an LLC in Usa to do business in the field of creative writing & design.
My question to you is this: I have a personal Wise account, I opened it before. Should I open a business account with MercuryBank? I couldn't quite understand the difference with Wise. Money can be deposited and transferred to both.
Also, will having an individual Wise account cause any problems?
Thanks a lot.
Hello,
We wish you success in your new job and thank you for your positive comment.
You cannot use credit card payment gateways such as Stripe with your personal Wise account, this is not allowed.
You can open an account with Mercurybank, the transfer is free and they will also send you a special ATM card for your company.
You can upgrade your Wise account to corporate as well as individual, this is also an option.
The article in the link below covers the differences and requirements between banks and this article will probably answer your questions.
https://startupsole.com/hesap-acillenen-abd-bankalari/
To summarize, you will always need a corporate account opened on behalf of the company, and individual accounts will limit you.
Thanks very much for your quick response.
When doing arbitrage on Amazon, why should we not enter products that Amazon has a buybox?
Hello,
Can we receive payments in different currencies at Mercury Bank? I sell on Amazon Canada and I need to be paid in Canadian dollars. Amazon itself can convert and send it as USD, but I do not prefer it because there is too much exchange rate difference.
Hello,
Mercurybank only processes with USD. The most logical solution for working with different currencies is to use Wise Corporate. You can create an account and get approval quickly by using our Wise corporate account opening article.
Whichever country you use to receive payment from Amazon, Amazon will make payments in the official currency of that country. Amazon will pay you in USD even if you have a CAD account with Mercury in the USA or any other financial institution in the USA. For example, if your bank account is in the UK and you have both a GBP and EUR account, Amazon will accept GBP but not EUR accounts. Such problems are valid in Türkiye. If you sell on Amazon in Usa and want to transfer the money to a bank account in Turkey, Amazon will ask you for a TL account.
Now, if you want to receive money directly in CAD, you must have a bank account in Canada or an account with a local financial institution in Canada.
I think Wise provides an account like a local bank account, but Payooner doesn't have it. I have not experienced either organization. Forum Admin is much more experienced in this regard.
You can open a CAD balance by adding new currency via Wise. After opening this balance, CAD provides you with the necessary information in the account details.
For example, for a CAD balance opened, you will receive an account information detail as follows. If it supports it, you can enter this information on Amazon.
Account owner: XXX LLC
Institution number: 621
Account number:xxxxxxxx385
Transit number:xxx01
Wise's address is
99 Bank Street, Suite 1420
Ottawa ON K1P 1H4
Canada
Hello,
First of all, thank you very much for answering the question. Mr. Şakir, I know you are experienced with Amazon. I have always used Payoneer until today. I received my payments in Canadian dollars, but Payoneer charges a commission when spending or converting foreign currency between balances. I am not in favor of using Payoneer. We agree about Wise, but I think Wise does not provide virtual card or physical card services so that I can use payments from Amazon as working capital. I don't want to be forced to payoneer. What kind of solution can I come up with on this issue? I would like to get your valuable ideas.
Why not use Mercury? Mercury does not charge a commission like Payoneer, and it also does not have a low exchange rate conversion process. You can write your Mercury USD account in Usa to the deposit section on Amazon Canada. Amazon converts from CAD to USD almost 1:1 at the current exchange rate.
I understand the exchange rate losses incurred from using Payoneer. After a certain point, serious amounts actually accumulate. I overcame this situation with Mercury. I am very pleased with Mercury.
If you say you absolutely want to buy CAD, you need to either have a bank account in Canada or, as I said, work with a local financial institution that can serve as a bank.
Have you ever received the money from your sales in Canada into your Usan account? I also sell it in Mexico and it moves a few cents off the total amount payable at the current exchange rate.
Especially the Canadian dollar is a strong currency against the US dollar. The lowest value in the last year is 1.20 and the highest value is 1.29 USD. In other words, this volatility and exchange rate difference will be extremely low.
Additionally, Mercury does not make a deduction for money transfers, Wise and other financial institutions will make an additional deduction of around 3%.
Yes, unfortunately, I am not that keen on Payoneer since I withdraw the money from my sales in Canada to my USA account. Also, it is not Payoneer that converts the exchange rate, but Amazon that converts Canadian dollars to US dollars. Amazon asks you for confirmation when entering a Canadian account into a USA account in the Deposit Methods section. He informs us that he will convert Canadian dollars into Usan dollars and send them to his bank account. I was using a USA account when I first made sales. When I checked the movements of my Payoneer account, Payoneer charges 1%, but when I deducted this commission, I realized that my balance was less than it should be. To give an example, I noticed that a balance of at least 6-7 dollars was missing in a 200 dollar transaction. While I thought I was actually making money, I didn't know that I was trying to figure out the exchange rate :) I'm really confused about this. Mercury Bank is very advantageous for us, but unfortunately, I am not keen on connecting the Mercury bank I opened, since the exchange rate difference is from the Amazon side, not from the buyer bank. What do you think I should do?
Unless it is a bank you will have these problems. Payooner or other intermediary financial institutions cause this exchange rate difference. I don't agree with your "Amazon is making the money" part. OK, Amazon is the one converting the correct money, but what I meant is that it is the intermediary organizations that create the exchange rate difference. Amazon does one-to-one currency translation.
I understand very well what you are going through, as I have personally experienced the fact that additional payments arising from these exchange rate differences are very annoying.
Definitely use Mercury. You will see that there is no exchange rate difference.
Also, even 6.7 dollars for 200 USD is a very low difference. Keep this in mind too.
Also, see these two institutions separately, Banks and intermediary financial institutions. Amazon does not apply low exchange rates etc. when you deposit money to the bank. Payooner, Wise, the old HyperWallet etc. none of these are banks. Therefore, they transfer the money they receive from Amazon to your bank and apply a % commission and low exchange rate while transferring it.
Since Amazon deposits the money directly to the bank, we convert the exchange rate exactly and deposit it.
Definitely use it when you have a bank like Mercury.
Thank you for sharing your experiences. I understand very well what you mean. Frankly, I found your last answer very satisfying and logical. In this case, it makes sense to use Mercury Bank. I also used my Canada Store link when opening a Mercury Bank account. Let other friends have additional information. Admin, I would like to thank you very much for creating such a platform and bringing us together. I also received service from StartupSole, they work with an absolutely excellent service approach. See you again for another article. I wish success to everyone.
It is very pleasing that it is useful. We thank you for your contribution and wish you luck.
I got approval very easily from Mercurybank with my LLC company by showing the link to my Amazon store.
I would like to thank Startupsole for opening our eyes and helping us form companies at affordable prices and expand our business, otherwise we all know that we would have to spend a ton of money for these transactions.
I do not believe that Mercurybank has an attitude of not approving Turkish citizens, as Indians and Africans can also get approval. Isn't their goal to reach a lot of customers anyway? Why would they favor the Turks?
I also received a debit card, I didn't recognize it as a virtual card, and I can transfer money to my TR dollar account free of charge, without commission. There is also the advantage of tax peace in Turkey, this is the right time to do business abroad, I think we should not miss the opportunity.
You're welcome, helping your business grow is a great source of motivation for us.
We wish you continued success.
Hello everyone, I cannot see my bank accounts in Turkey in Mercury bank. Mr. Ulaş, which bank do you use?
I opened my LLC company in the software field at the beginning of January 2022 and received my EIN number from the IRS. Lastly, I applied to Mercury but it was not approved. Nobody should trust this company because they do not trust Turkish citizens.
It's very strange, Mercurybank had a lot of our followers approve their accounts. There are rarely projects that they do not approve, especially applications made with a Turkish website (other than English) are rejected. By the way, they do not have any problems with Turkish citizens, they approve all projects that have Us LLC and comply with their policies, except for embargoed countries.
You can carefully review the reasons for disapproval, correct your deficiencies and re-apply. Alternatively, you can also apply for bank relay. There is a detailed article about relay on our blog. Mercurybank, Wise and Relay all work with the same bank, Evolve Bank and Trust.
Having an LLC and EIN number in Usa does not mean that you can open an account with Mercury. Almost the only main requirement of Mercury is that the buyers of the products and/or services you sell must be residents of Usa. And you need to prove this to Mercury. When you cannot persuade, you will be rejected. You can review this situation and try to apply again.
Mercury is a bank that I use with pleasure and is completely free of charge.
Yes, it is correct, the source of income must be the USA during the approval phase. By the way, if a payment gateway such as Stripe is used, income can be obtained from all over the world because they cannot investigate the source of payments coming through Stripe. In summary, if the buyers emphasize that they are from the USA (by designing a website that complies with the policies of doing business based in the USA), final approval is obtained.
Can we transfer money from our individual Payoneer balance to our company mercury bank account?
If Payoneer supports transfers to US banks, you can. Mercury is a bank, after all.
Hello,
Turkey is among the countries where transfers can be made abroad on the Mercury website. I don't know if a new update has been made.
https://help.mercury.com/t/q6h3d0l/supported-international-wire-countries
In this case, there is no need to open a TW account anymore, right?
Thanks.
Hello,
Yes, transfers to Turkey are now supported and even free up to a certain level. You can transfer your money from MErcury to your dollar account in TR without any interruption.
Hello,
we opened a company in America and Germany. As banking, we think of digital banking. The thing that comes to my mind is, after opening an account in Wise or any digital banking, how can I connect them to Wise, for example, since the company in America is separate and the company in Germany is separate?
Hello,
when opening a Wise corporate account, your identity is first verified or that of the company owner. At this stage, you open and verify a corporate account for e.g. company 1. However, for company 2 (in Europe), you will need to log in with the same personal account and add a new business account. This means that you will be the main owner of the accounts, you can switch between both trading accounts from the accounts section.
In summary: 1. Open an account for a US company and have it verified (Your identity will also be verified at this stage)
2. Open a new business account by logging in to your account, for this you can click create a new business account from the menu at the top.
Thus, you can manage business accounts of more than one company from the same panel, in fact, both business accounts will be independent of each other.
Details here: https://wise.com/help/articles/2932130/can-i-have-more-than-one-account
Hello,
If I don't misunderstand from what I've read, you stated that Wise and Mercury do not accept dollars from TR. How can we transfer the initial capital - even if small - that the LLC we have formed needs for a small start-up, to these accounts?
Thanks.
You may have misunderstood or the article may need to be updated because you can receive money into your wise account. This way, you can add cash to your account for startup expenses.
You can look at wise documents on this subject.
https://wise.com/tr/help/articles/2827506/usd-hesap-bilgilerim-nas%C4%B1l-ömür%C4%B1r%C4%B1m
Hello, my Transferwise account has been closed. I wonder what other alternative is there for me to send the money to Turkey from Mercury Bank in Usa?
Why was it closed? What is the reason?
You can transfer money to Turkey with Mercury, and they also provide ATM cards for cash withdrawals.
Can I link a Mercury account to Amazon? Also, how do I get a credit card in the USA?
Mercury is a bank, after all, you can connect it wherever you want. In order to get a credit card from the USA, you need to open a physical bank account. For this reason, it is necessary to personally visit a bank in the USA. Digital banks (such as Mercury, Wise) do not give credit cards, but Mercury provides an ATM card and they send it to your TR address.
Hello,
First of all, your website's information about company formation was very useful to me. I formed my company in Wyoming and received my EIN Number. Thanks a lot. I received services from Wise (for a $31 payment) and Mercury (Free) Banks regarding opening a bank account.
I am a designer and I invoice various countries in Europe, including Türkiye. However, in order for a customer from Turkey to pay you, he/she must make the payment "directly" to your bank account. Since SWIFT transactions at Mercury are handled by an intermediary bank, my client reported that he could not account for this. Wise is currently closed for USD transfers from Turkey via SWIFT.
I would be very happy if you have an alternative online bank or an alternative solution that you can recommend.
Thanks.
Hello, thank you for your comment. Congratulations on your venture.
Wise corporate now opens a TL account on behalf of your company and provides you with an IBAN. In other words, you can get a TL balance in your LLC company Iban from Türkiye using Wise.
Good day, as someone who is new to Amazon, my profit rate will be very low and I have a limited budget, so it will be more profitable to open Mercurbank and pay 3% rather than paying 25 dollars. I have a few questions at the beginning, can I first connect Payooner to Amazon and then connect our Mercurybank account after it grows?
Also, without bringing any money into Turkey, for example, if I make a purchase from a wholesaler in the United States via Payooner instead of my card in Turkey, will there be any problems with issues such as invoices or other issues?
You answered all the questions asked in detail. I would also like to thank you for your interest and kindness. I wish you success in your work. Best regards.
Thank you for following, good luck.
Can an LLC company be formed for my 17-year-old child? Also can a bank account be opened in this way?
Hello, individuals must be 18 years of age for transactions.
Hello, thank you very much for your detailed content on all topics. I have a question about the payment method? Isn't Hyperwallet a way to transfer money to your TR account via a virtual bank? Don't recommend this payment method?
Hello,
Since it is a known method, we did not need to mention it again, we recommend it. Of course, why not? It is an llc with which Amazon has a business partnership, after all. Additionally, Wise support has also been added to Amazon. You may be familiar with it.
HyperWallet stopped working with Amazon last month. HyperWallet can no longer be used as a payment gateway. Currently, there are 12 intermediary institutions to transfer your income from Amazon.com to a bank in Turkey, and the most popular is Payoneer. These organizations charge a 3% commission when transferring the money you earn to Turkey. It also calculates the USD-TL exchange rate slightly lower. The money is transferred to your account within 3-5 business days. Even just during this waiting period, you will lose another 3% from the increase of the dollar in Turkey.
I definitely recommend forming an llc in Usa and working with a bank account in Usa.
Assuming you earn $1000 in revenue from Amazon every month. At least $50 of this money goes to brokerage firms. That's $600 a year. However, the average cost of forming an llc is around 200 dollars.
It also provides benefits regarding taxation.
Hello, first of all, I would like to thank everyone here for sharing their experiences and knowledge. Mr. Şakir, you gave the following idea under an article I read before. My business (Türkiye) address is verified in my amazon account. I just started an LLC company. You said that since we cannot provide utility invoices, you may not enter the address of our LLC company in the business address.
I do dropshipping (Amazon to Amazon) on Amazon. And when purchasing these products, I use my business address in the billing address so that I can use it in case of suspension in the future.
I need to use these invoices for my LLC. Will I have any problems when doing accounting since my Turkish address is written? Have you had any experience with this? If so, I would appreciate it if you could share your experiences. Thanks.
Hello, my partner and I opened an account at Mercury and wrote our hotmail addresses in the e-mail address section in the personal information section. When opening an Amazon company account, we will use our e-mail addresses, which are extensions of our company. Our question is; 1- Should we enter our company's e-mail addresses in the personal information e-mail address section when opening a Mercury account? 2- Since we will be using our company's e-mails on Amazon, will we have any problems due to e-mail differences in such a case?
Hello,
I don't think there will be a problem with e-mail. I have never heard of such a need before.
Hello, Relay wants an EIN verification letter from me, but they only sent me this document from Inc authority, when I received an email stating that I received my EIN.
https://i.snipboard.io/wxmgSM.jpg
What do I need to do to get that document?
That document is called CP575 and it comes from the IRS, not Incauthority. After a certain period of time, it will come to the mail address you wrote on the Ss4 form. Recently, it will be sent directly to the mail address, they will not send it by fax, but in the past, it would come first by fax and then by mail. First of all, check your mailbox and if it still hasn't arrived, you can apply to the IRS. Search for "wife's letter" on the site, there will be an article on the subject.
Hello, after 1 month I received a rejected message. The reason is because the customers of my company in Usa are not Usans. (I wrote it in the area they asked about). Maybe you can add it as a note so that new members do not have to register with Mercury and wait for 1 month if they do not have Usan customers.
Hello,
As you know, Mercury is an online bank and may have usage policies that we are not aware of. The initiative regarding which projects they will accept or reject during registration belongs to them. As a platform, we do not have any partnership with them, so we do not have any sanctions.
We have many followers who formed an llc in the USA and received approval from Mercury Bank with the information they obtained from our website, and generally the customers are USA, Dropshipping or Amazon sellers or software or digital service sellers in the global market. So much so that entrepreneurs whose customers are abroad usually open foreign bank accounts. The content of your project is also important, of course, you can apply again by preparing a website in English. Alternatively, you can also consider transferwise or relayfi bank.
If your customers are mainly in Turkey, you can also use iyzico-style payment gateways by forming a sole proprietorship company.
Again, thank you for your valuable feedback.
Hello, in some articles it is written that Form CP 575 or 147c letter document is required. I formed my company in the state of Kentucy through you, but the above documents were not given to me. Also, I do not have a passport. Can a different document (ID or driver's license) be accepted to replace it?
Hello,
Those documents are not given to you by the registered agent. The IRS issues them. A few weeks after your ein arrives, the irs will send it to the e-mail address you wrote on the ss4 form.
Unfortunately, the place where we got the mailing address (Shipito) said that it could not track whether the mail had arrived without a tracking code.
The IRS does not send a tracking code, they just mail it and they do not do it immediately, they take it into the queue and send it. This has nothing to do with the postal company or us, it is the initiative of the IRS. I don't know when you received the ein, but you can wait a while and call the irs so that you can get accurate information about whether they sent it or not.
I think you commented on opening a bank account. For your information, Mercury Bank does not want a CP575 if you are going to open a bank account.
I founded an LLC company by looking at the articles on this site about 2 months ago, and last week my EIN number arrived, I applied for Mercury, a passport is required, for your information. They opened my account in approximately 3 business days. I applied for an ATM card today and was told it would arrive in about 15 days.
My experiences with Mercury are as follows, I sent an e-mail for a few questions, they respond very quickly, there are no problems with the documents to be uploaded. My advice to you is to ask for your ATM card directly to your Türkiye address. It is said that it is both costly and takes a long time for it to come from the USA to Turkey, so I am thinking of getting it this way.
I recommend it to my friends who are going to form an llc and open a bank account. The process is not difficult, just waiting is boring and the rest is done.
Congratulations, thank you for your advice, good luck.
Hello, did you write an e-mail such as gmail, hotmail in the company e-mail address section or is it an llc e-mail address? Did you also have a website? Did you specify this?
Hello,
There is no e-mail procedure, but it would be more serious and nice if there is an llc e-mail that you can follow.
The website is very important. Your site should have content that complies with their policies, be in English, be fully active, and have pages such as about us, contact, privacy, cookie policies, return policies.
There were followers who could not get approval from Turkish sites, so it is important that it is in English.
These types of online banks give approval according to the work done, that is, according to the website, or if you are dealing with Amazon, based on your Amazon store, you cannot get approval if the site or a platform they want is not available.
Of course, there is also a passport requirement.
I actively do all my trading as Amazon FBA. Then I realized that it would be okay if I wrote the link to my store on Amazon. Otherwise, I will create a website for myself and then apply. Thank you admin, you are very caring.
When selecting the business type on the Mercury registration screen, you will see the "Amazon seller" category, where you can enter your store link. But I don't know if there is a product category that Mercury Bank does not accept. If you want, take a look at the FAQ page below or search the Amazon seller forums because no one from our team has any application experience with the Amazon store before.
https://mercury.com/faq
If you are rejected, create a site that includes a technology or software service in English and apply again. It is said that they generally approve technology and software projects very quickly. By the way, we have a joint software company, we applied with that site in the past and it was approved.
I contacted Mercury and stated that I did not have a website and that I did all my business as Amazon FBA and asked if there would be a problem if I could still apply. They said no and told me to apply. So I did this by entering my @hotmail address and selecting E-Commerce/Amazon. I don't know if they ask everyone, but they asked me almost 10 questions. The questions are as follows: "What is the target audience of your products?" “Did you receive any investment for your company or how did you obtain capital?” “Do you aim to increase product diversity?” questions like. I filled them all out properly. They opened my account 3 days later. You don't need to have a website, but you should explain your work and its goals well and realistically. Then the account is opened.
Thanks for the information
Hello Mr. Şakir and Admin, I sell on amazon.ca. Is it okay if I share amazo.ca as the product store link? I do not yet have a list of products available for sale on Amazon.com. Since I will not be selling on Amazon USD, will there be any problems in applying for my account?
Hello, some people have received Mercurybank approval with their Amazon store, but will it be a problem if the store is empty? It is difficult to comment.
I'm not sure, but it sounds like they might still open the account. I think you should write to Mercury and ask. Then you act according to the answer you receive.
You can also examine other platforms that can be used other than Mercury. I didn't have any experience with other organizations, but while researching, I came across this article by Emilie Pires in September 2020.
https://www.zeni.ai/blog/best-banks-for-startups
Hello,
the article states that Mercury has a website. Isn't there an exception?
Did you have your website?
Thanks
There were people who opened an account by giving the link to the Amazon store.
It doesn't need to be a website. There is no need, especially if you are selling on Amazon. You can directly give the address of the Amazon account.
Hello, my Mercury Bank application was rejected, I do not know why, can I apply again?
Or can I open a stripe account directly and connect it to the wise account?
Hello,
It is up to the bank to decide which projects to accept or reject. The website you apply to may be inadequate or may not meet the bank's policies. You can re-apply via another website.
If it is still not approved, you can use Wise without any problems or https://relayfi.com/ relayfi. Relayfi is a digital bank like Mercury. One of these alternatives will definitely solve your problem, but as I mentioned, you may have a site that does not comply with the policies.
I added the site URL but the page is blank
Thank you for your comment
You're welcome
These are digital banks, they are used for e-commerce purposes, and the bank will not approve an empty website anyway. Set up your site, create pages such as contact, cookie policy, about us, privacy, etc. and add content or products related to the business you want to do. As I mentioned, payment gateways do not approve projects that are empty or do not comply with policies.
Hello, do you know if Mercury Bank can connect to Paypal Business? Generally, everyone recommends Bank of Usa, that's why I asked.
I don't have any information, but Mercury Bank is a bank. I don't think it will cause a problem after all, but it is not very difficult to guess the purpose behind directing people to BOA.
Hello, does Mercury Bank give us an IBAN or an Usan number like a routing number? Also, when we are going to receive payment from Mercury Bank, should we receive it with the company name or our own name?
Mercury gives the Usan account routing number.
After opening an account, you can access your account information through the internet banking system. They open a commercial account under your llc company.
Hello, instead of Mercury Bank, can our account at Transferwise be the bank account of the company we opened in America?
In other words, we will establish a company in America to use the stripe payment infrastructure. Would it be enough if we use our company's bank account and the bank information on transferwise? I'm not asking this from the side facing the stripe. I'm asking for official business.
Hello,
There are two types of accounts for TransferWise: one is individual and the other is corporate account. When opening a corporate account, you can enter your company information into TransferWise (you must select business at the account opening stage), which means a business account is created in the name of your company.
If your company is found suitable, your account will be approved within 3 days. However, I do not know for what purpose you will use this, but it is important whether this account will be accepted when you are asked for it. For example, stripe accepts.
Details are here: https://transferwise.com/tr/help/articles/2769792/dogrulanma-icin-ne-gerekiyor