immad

We have Quickbooks compatible exports.

Looking into a deeper integration

The dreaded “analysis fees”!

We operate at reasonable unit economics. Free should be sustainable.

That would be a cool feature. We don’t have immediate plans to do this.

We give a lot more for free than normal banks. We only charge for wires because right now we have a high fee with our partner. We will fight to reduce that over time.

The company has to be US incorporated. Customers can be foreign

Yes.

Makes sense. Thanks for clarifying. Is hemp a controlled substance federally too?

That’s part of the plan!

ACH fraud protection is available to Mercury customers. I believe you have 90 days to reverse an ACH.

Customers do have better protection than businesses but in reality most banks extend the same rules to both.

ACH - a basic account can’t have this protection. We have an idea for an account that is for sending only that is always 0-balanced. That’s not live yet, but perhaps it would satisfy your request.

Check - you can send a check to a specific person from the Mercury dashboard but you can’t print a blank check against the account. That would be rejected. So standard check fraud is not possible.

Awesome. Please email me and I can update you when that’s live.

Nope. Though we can only send debit cards within the US

Unfortunately not.

Until federal laws change (which might be soon) we can’t bank anything marijuana related.

Hi,

Do you mind sending me your email, and the picture that failed. Sorry about that.

Our previous business was an Ad Network. Which is partly what inspired Mercury

We will have web based mobile deposits. But yes, mobile app would be better and we are on it.

Xero support should be live with Plaid in 2-3 weeks.

The best way to do it as a startup is to be partnered with an existing bank. To get your own charter is a long and expensive process.

Partnering with a bank is relatively speaking not too bad. I spent 3 months talking to about 60 banks before picking our eventual partners.

There are quite a few now that have worked in the past with fin-tech companies and they are open to conversations. There are also fin-tech conferences like Money 20/20 that a lot of them go to.

Sorry! I hear Nubank is great though.

Mobile Apps: iOS or Android or both? Any particular feature you are looking.

Xero/Intuit: Which one do you use or do you need both?

If you have a ton of checks (>10/month) we are probably not the best solution at the moment.

We are going to have web based check deposit going live next week and mobile in the near term.

- Analytics: Good question. Currently we are planning to do just our GUI. But not closed to the idea of having an API for it.

- API: anyone will have access to it.

- Support: We have a number and we do Intercom chat. It's mostly manned during US business hours right now.

- Tea: We are probably going to go for surprising you and not reveal the tea we send :)

Thanks!

1) $35/int-wire. We aren't currently competing on fees/exchange here. But the UI is great and we should have APIs for international wires soon.

2) We support Authy, Authenticator and other apps that support TOTP.

Reposting from another comment:

The company has to be incorporated in the US. But the founder can be foreign.

Unfortunately banking is a very geo by geo thing in terms of regulation, payment rails, banking partnerships etc. We don't have any immediate plans to launch outside the US, though I would love to be global from day 1 if we could.

Repost from another comment:

Banks make money on deposits and thats their primary source of revenue. We have a rev-share with the bank on deposits revenue. Most of the time there is no good reasons for there to be any fees in our opinion.

We don't do MSBs on the website, but we can support them in theory. Just need extra diligence docs.

Send me an email and we can try to make it happen.

The company has to be incorporated in the US. But the founder can be foreign.

Unfortunately banking is a very geo by geo thing in terms of regulation, payment rails, banking partnerships etc. We don't have any immediate plans to launch outside the US, though I would love to be global from day 1 if we could.

:)

Not yet. If you drop me an email I can send you an update when we do. Also let me know what your specific use case is.

Good question.

Yes. Probably not in the next month or so, but definitely soon after that. This is especially useful for credit card transactions since we don't offer one at the moment.

Actually most banks make money on deposits and thats their primary source of revenue. We have a rev-share with the bank on deposits revenue. Most of the time there is no good reasons for there to be any fees in our opinion.