Mercury vs Relay: Best Bank for Non-Resident LLCs? (2025)

Author's Bio: We hold active accounts with both Mercury and Relay for our different LLCs. We have tested their wire speeds, debit card shipping to Europe, and customer support response times.

You have your LLC. You have your EIN. Now you need a place to put your money.

For non-residents, the options are limited. Chase, Wells Fargo, and Bank of America usually require you to visit a branch in person.

That leaves us with the "Fintech Giants": Mercury and Relay.

Both promise remote opening. Both claim $0 fees. But which one is actually safe for your business?

What Are They? (They Are Not Banks)

First, a legal disclaimer: Neither Mercury nor Relay are "banks." They are financial technology companies.

• Mercury partners with Evolve Bank & Trust and Choice Financial Group.
• Relay partners with Thread Bank.

Why does this matter? It means your money is still FDIC Insured (up to $250k or more), just like at a big bank. But the customer service and interface are built by tech companies, not bankers.

Feature Showdown: The Data

Let's look at the features that matter for a remote business owner.

Feature	Mercury	Relay	Winner
Monthly Fees	$0	$0	Tie
Minimum Deposit	$0	$0	Tie
Outgoing Wires (Domestic)	Free	Free	Tie
Outgoing Wires (Int'l)	Free (USD)	$50 (Free with Relay Pro)	Mercury 🏆
Currency Exchange	1% fee	1% fee	Tie
Physical Debit Cards	Yes (Ships Int'l sometimes)	Yes (US Address only)	Mercury
Virtual Debit Cards	Unlimited	Up to 50	Tie
Sub-Accounts	Limited	Up to 20	Relay 🏆
Ease of Approval	Harder (Tech focus)	Easier (Small Biz focus)	Relay 🏆

Deep Dive: Mercury Review

Mercury is the darling of Silicon Valley. If you watch Y Combinator videos, everyone uses Mercury.

The Pros:

• User Interface: It is stunning. It feels like using a modern SaaS app.
• Treasury: If you have >$250k, they can put your money into government bonds to earn yield (currently ~5%).
• Investor Access: They have a network to connect you with investors.

The Cons:

• Strict Compliance: They are known to close accounts suddenly if they suspect "high risk" activity (e.g., crypto, dropshipping from sketchy suppliers).
• Target Audience: If you are a simple consultant, they might reject you for not being a "startup."

Deep Dive: Relay Review

Relay bills itself as "Banking for Small Business."

The Pros:

• Multiple Accounts: You can create 10 different checking accounts (e.g., "Tax", "OpEx", "Payroll") in one click. This is perfect for the Profit First accounting method.
• Stability: They seem less "trigger happy" with account closures than Mercury.
• Team Permissions: Great controls for letting your accountant view data without touching money.

The Cons:

• International Wires: Sending USD internationally costs $50 unless you upgrade to Relay Pro ($30/mo). Mercury does this for free.
• Mobile App: Functional, but not as slick as Mercury's.

The "Account Freeze" Nightmare

Search Reddit, and you will see horror stories: "Mercury closed my account with $50k in it!"

Here is the reality: All US banks are under immense pressure to prevent money laundering (AML) and terrorism financing. Non-resident accounts are inherently "High Risk."

If you:

1. Receive a large wire from a crypto exchange.
2. Send money to a sanctioned country.
3. Have a sudden spike in volume (e.g., $0 to $100k in one day).

...your account will be flagged for manual review. This happens with Chase too, not just Fintechs.

Our Advice: Always have a backup bank account. Never keep 100% of your cash in one institution.

Decision Logic: Which One?

graph TD
    A[Start: Choose Your Bank] --> B{Do you send Int'l Wires often?}
    B -- Yes --> C[Mercury (Free Wires)]
    B -- No --> D{Do you follow 'Profit First'?}
    D -- Yes --> E[Relay (Multiple Accounts)]
    D -- No --> F{Are you a Tech Startup?}
    F -- Yes --> C
    F -- No --> E
    C --> G[Result: Mercury]
    E --> H[Result: Relay]

How to Open an Account (Non-Resident Checklist)

To open either account, you need:

1. Approved Articles of Organization (Wyoming or Delaware).
2. EIN Confirmation Letter (CP-575). (See our EIN Guide).
3. Passport (Color scan).
4. US Address (Not a PO Box). Use your Virtual Mailbox address.
5. US Phone Number (Optional but recommended). Google Voice or Tello works.

Warning: Do not try to open the account until you have the official EIN letter. Just having the number isn't enough; they want to see the PDF from the IRS.

Final Verdict

• Best Overall: Mercury. The free international wires save you hundreds of dollars a year, and the interface is unbeatable.
• Best for Budgeting: Relay. If you are strict about separating tax money from operating money, Relay's sub-account feature is a lifesaver.

Our Strategy: Open Mercury first. It's the gold standard. Once you are approved and have revenue, open Relay as your backup. In the world of international business, redundancy is survival.

Need a US Address for the Bank? You can't use your home address. Check out our guide on How to Get a US Business Address that banks actually accept.