Mercury – Banking built for startups • Hacker News Board

Re: Mercury – Banking built for startups

#61

Post by eugeniub » Fri, Apr 19, 2019, 1:48 AM UTC

immad wrote: post #60

eugeniub wrote: post #51

The onboarding flow looks nice but unfortunately the document uploading doesn't work at all for me, for PDFs or JPEGs. I'm using the latest Firefox on the latest macOS.

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

I emailed you at the email address in your profile. Thanks!

Re: Mercury – Banking built for startups

#62

Post by dumbfoundded » Fri, Apr 19, 2019, 2:13 AM UTC

immad wrote: post #5

I am co-founder, CEO of Mercury. Excited to see this on HN. Happy to answer any questions. We set out wanting to: a) deliver an amazing online banking experience for startups b) help entrepreneurs understand their revenues/costs better and succeed c) deliver great financial services. We have a long way to go but are excited to unveil what we have achieved so far. Mercury will provide your startup a FDIC-insured check…

Do you work with hemp companies?

Re: Mercury – Banking built for startups

#63

Post by koolba » Fri, Apr 19, 2019, 2:57 AM UTC

MaxGabriel wrote: post #12

I'm a co-founder and CTO at Mercury. We have some amazing frontend UI (the onboarding flow especially) if you'd like to check it out, and our backend is 100% Haskell. AMA

Why the .co rather than a .com?

Re: Mercury – Banking built for startups

#64

Post by mNovak » Fri, Apr 19, 2019, 2:59 AM UTC

Can't figure out why the tea gimmick draws me in so much, ha. Also slightly confusing--does the $250k criteria include checking+savings? Or strictly checking, as stated.

But otherwise, what do you see as differentiation from something like Azlo?

Re: Mercury – Banking built for startups

#65

Post by markdown » Fri, Apr 19, 2019, 3:08 AM UTC

immad wrote: post #5

I am co-founder, CEO of Mercury. Excited to see this on HN. Happy to answer any questions. We set out wanting to: a) deliver an amazing online banking experience for startups b) help entrepreneurs understand their revenues/costs better and succeed c) deliver great financial services. We have a long way to go but are excited to unveil what we have achieved so far. Mercury will provide your startup a FDIC-insured check…

Do you work with kratom businesses?

Re: Mercury – Banking built for startups

#66

Post by markdown » Fri, Apr 19, 2019, 3:11 AM UTC

immad wrote: post #22

adityapurwa wrote: post #18

Earlier quoted context omitted.

What is the availability of the service for countries outside US? Is it supported? If not, what are the plans for supporting it?

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.

Does one need to be present to open a business account if they're a foreigner?

As an example, Silicon Valley Bank doesn't require physical presence when opening an account via Stripe Atlas.

Re: Mercury – Banking built for startups

#67

Post by amluto » Fri, Apr 19, 2019, 3:15 AM UTC

Do you have or can you add real check and ACH withdrawal security? I want my bank to decline all externally initiated withdrawals unless explicitly authorized. In other words, when I write a check, I want to tell my bank, and if someone tries to cash a check drawn on my account, I want it to be rejected. The same should go for ACH debits.

This might be harder, but it would be even better if unrecognized debits we’re out of hold for a day or two so I could approve or reject them.

Re: Mercury – Banking built for startups

#68

Post by whitepoplar » Fri, Apr 19, 2019, 3:29 AM UTC

What the story on fraud? I was surprised to discover that business bank accounts aren't governed by the same protections that consumer accounts are (Reg E).

What happens if a criminal commits ACH fraud and is successful? Are Mercury's customers protected by some sort of guarantee, other than FDIC which only seems to cover bank insolvency?

Re: Mercury – Banking built for startups

#69

Post by kisamoto » Fri, Apr 19, 2019, 3:49 AM UTC

Looks good but without hijacking the thread does a service like this exist in Europe? If not is it due to different financial regulations (maybe easier to get started in the US?) or something else?

Re: Mercury – Banking built for startups

#70

Post by MaxGabriel » Fri, Apr 19, 2019, 3:50 AM UTC

koolba wrote: post #63

MaxGabriel wrote: post #12

I'm a co-founder and CTO at Mercury. We have some amazing frontend UI (the onboarding flow especially) if you'd like to check it out, and our backend is 100% Haskell. AMA

Why the .co rather than a .com?

The .com was unbeknownst to us one of the highest selling domains of all time. I’m sure the public lists I’ve seen are inaccurate, but it ranks at around 100 after selling for a little over a million.