Mercury vs Wise for a U.S. LLC owned from abroad
Last verified: 4 min read
Mercury vs Wise is the first banking question most founders ask after forming a U.S. LLC from abroad. Both can serve a U.S. company owned by non-residents, both ask for the EIN and the owners' identity, and neither accepts a registered agent's address as your main business address. Mercury is a U.S. business account; Wise is a multi-currency account. You can open both.
Mercury vs Wise: what does each one say about non-U.S. founders?
Mercury says it is proud to support U.S. companies founded by people across the globe. The company must be formed in the U.S. and have existing or planned U.S. operations. Founders or financial controllers living in the countries on Mercury's prohibited list can't be served.
Wise verifies a U.S. business with its EIN, then asks about anyone who owns 25% or more. Owners who live in the U.S. or hold a U.S. passport give their SSN; for non-U.S. owners, Wise requests a copy of a photo ID. Wise says it can't onboard businesses from Nevada or U.S. territories, so a New Mexico LLC is not affected.
What documents does each one ask for?
| Mercury | Wise | |
|---|---|---|
| Formation documents | Official formation documents | Proof of registration, if requested |
| EIN | IRS EIN document, or Form SS-4 while pending | EIN |
| Identity | Government ID, such as a passport, for controllers and 25%+ owners | Photo ID for non-U.S. owners of 25%+ |
| Business address | U.S. or international; not a registered agent or P.O. box | Physical trading address; no virtual or forwarding address |
| Opening and monthly fees | None required; paid plans from $35/month | Free registration, no monthly fees |
Your Articles of Organization and Operating Agreement come from EXNNA, in your dashboard. The EIN comes from the IRS: see how to get an EIN without an SSN.
Is Mercury a bank, and is Wise?
Mercury says it is a fintech company, not an FDIC-insured bank; its banking services come through Choice Financial Group and Column N.A., Members FDIC. Wise describes its business product as an account to send and receive money in USD, EUR, GBP and other major currencies, with cards and balances in several currencies.
Mercury vs Wise: which one should you open first?
If you need a U.S. account for Stripe payouts and U.S. clients, start with a U.S. business account; Stripe pays U.S. accounts in dollars to U.S. bank details (see Stripe account for non-residents). If you also bill in euros or pounds, add Wise. More options are in opening a U.S. bank account for a non-resident LLC.
Country walk-throughs: forming a US LLC from Mexico, from Argentina and from the UAE or Saudi Arabia.
What address do you give the bank?
Your own: home or office, in your country or in the U.S. The registered agent's address is for official State mail, not for banking. More in a U.S. business address for non-residents.
How do you get the LLC first?
- Enter a company name, two backups, the number of members and an email. No ID documents are needed.
- Sign the service agreement and pay in U.S. dollars or your local currency, where available, by card, online.
- The State of New Mexico (NM), a U.S. state, usually approves in 1–3 business days.
See every option on our pricing, or form your LLC online now.
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FAQ
- Mercury vs Wise, which accepts founders who live outside the U.S.?
- Both publish rules for it. Mercury says it supports U.S. companies founded by people across the globe, except in the countries it prohibits. Wise asks non-U.S. owners for a photo ID. Each one runs its own checks and decides.
- Can I use my registered agent's address?
- Not as the main business address. Mercury rules out registered agent, P.O. box and UPS box addresses for the principal place of business, and Wise doesn't accept registration agencies, mail forwarding or virtual addresses as the trading address. Wise does accept the agency's address as the registered address.
- Do I need the EIN before applying?
- Wise asks for the EIN of a U.S. business. Mercury accepts a completed Form SS-4 while the EIN is pending, as long as you send the EIN document within 90 days.
- Do they charge to open the account?
- Mercury lists no account-opening fees, minimum balance or required monthly fees, with paid plans from $35 a month. Wise says registration is free, with no subscriptions or monthly fees.
Sources
- Mercury: FAQ (checked )
- Wise Business (U.S.) (checked )
- Wise Help: verify your U.S. business (checked )
General information, not legal or tax advice.