Wise vs Revolut vs Mercury: Business Banking Consultancy Guide
A detailed comparison of Wise Business, Revolut Business, and Mercury — multi-currency features, US/UK entity requirements, and HynoGo's consultancy role in your onboarding preparation.
Published by HynoGo — US LLC & UK LTD Formation for Non-Residents — From Anywhere.. Dedicated corporate formation, international taxation, and business compliance intelligence for cross-border founders.
Business banking consultancy — what HynoGo does and does not do
HynoGo is not a bank and does not open accounts on your behalf. Our Wise, Revolut, and Mercury consultancy services help you understand documentation requirements, prepare entity records, and structure your application materials professionally.
Every institution applies independent compliance review. Account approval depends on your business category, country of residence, entity type, and internal risk policies — factors outside HynoGo's control.
Wise Business — multi-currency for global operators
Wise Business is popular among international founders who invoice clients in multiple currencies and want transparent FX rates. Wise provides local account details in several regions and integrates with accounting tools.
US and UK entities are commonly supported, but eligibility varies by owner nationality and business activity. Wise applies thorough KYC — expect requests for formation documents, proof of address, and business activity evidence.
- Best for: Freelancers, agencies, eCommerce with international suppliers
- Key feature: Multi-currency balances and local receiving details
- Entity docs needed: Certificate of formation, EIN/UTR, ownership register
Revolut Business — digital banking with expense tools
Revolut Business targets startups and SMEs wanting cards, expense management, and multi-currency accounts in one app. Availability and feature sets differ significantly by country of incorporation and owner residence.
Revolut's onboarding is app-driven with identity verification. Clear business descriptions and active trading evidence strengthen applications.
- Best for: Startups, teams needing corporate cards and budgets
- Key feature: Integrated cards, FX, and team permissions
- Considerations: Feature availability varies by region
Mercury — US startup banking
Mercury is a US-focused business banking platform popular with SaaS startups and US LLC owners. It offers FDIC-insured accounts through partner banks, virtual cards, and startup-friendly UX.
Mercury typically requires a US LLC or corporation with EIN. Non-resident founders are supported in many cases but face enhanced review. A professional website and clear US business purpose are important.
- Best for: US LLC/Corp startups, SaaS, US-market businesses
- Key feature: Startup-oriented banking dashboard, API integrations
- Requirements: US entity, EIN, beneficial owner verification
Documentation checklist before applying
- Certificate of incorporation / articles of organisation
- EIN confirmation letter (US) or UTR registration (UK)
- Operating agreement or articles of association
- Proof of registered business address
- Passport and proof of residential address for all owners
- Business website or evidence of trading activity
Recommended order of operations
Form your entity first. Obtain EIN or UTR. Ensure state filings and IRS Form 5472 are current. Then gather documents and apply to banking platforms one at a time — rejected applications may create temporary flags.
HynoGo consultancy walks you through this sequence. Start through our secure portal or order Wise Business Consultation directly from our services page.
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