Mercury Bank Documents — What Mercury Needs
OtoCo Instant is legally a protected series under the OtoCo Master LLC (OtoCo DE LLC / OtoCo WY LLC). Instant and a protected series are the same legal form, not two products. A protected series added later under the same Master uses the same Mercury packet.
For Instant, Mercury gets the Master Certificate of Formation (your series has no individual state-issued Certificate of Formation). Also: Operating Agreement, EIN letter when issued, a physical address (anywhere — e.g. a home in Brazil), and proof such as a utility document in a member’s name.
Standalone / BYOE: Mercury gets that entity’s own state-issued Certificate of Formation, plus OA and EIN when on file.
If you buy OtoCo’s $299 Mercury application service, these docs are automatically uploaded. Approval is still Mercury’s decision — not guaranteed.
What Mercury needs
| Item | Instant (protected series) | Standalone / BYOE |
|---|---|---|
| Certificate of Formation | Master Certificate of Formation | Your entity’s own state-issued Certificate of Formation |
| Operating Agreement | Series Operating Agreement | Your OA (must be on file) |
| EIN letter | When issued ($189 one-time) | When on file |
| Physical address | Anywhere a person/mail can be associated — not required to be a U.S. business suite. Registered agent address alone is not enough. | Same |
| Address proof | e.g. utility document in a member’s name | Same |
| Beneficial owners | You finish on Mercury’s hosted flow | Same |
OtoCo’s $299 one-time fee is the application service (prep, submit, and automatic upload of formation docs). Mercury reviews on its own KYB/AML standards. Approval is not guaranteed. Country-of-residence and other KYB rules still apply — a physical address “anywhere” does not mean every country will pass. See Banking & EIN and Does Mercury guarantee approval?.
OtoCo Instant = protected series
Product name: OtoCo Instant.
Legal form: a protected series under the Master LLC.
They are not two different products. Instant formation (~6 seconds onchain) creates that protected series. A protected series you add later under the same Master is handled the same way for Mercury.
Plain language you can paste to a banker:
Our company is an OtoCo Instant entity — legally a protected series of OtoCo’s Delaware/Wyoming Master LLC. Individual series are created under the Master without an additional filing with the State Registry. They are protected, not independently registered by the state, so they do not have an individual state-issued Certificate of Formation. For KYB, Mercury receives the Master Certificate of Formation, our Series Operating Agreement, and (when issued) our EIN letter.
Certificate of Formation — Master vs your series
- Your series has no individual state-issued Certificate of Formation.
- Mercury wants the Master Certificate of Formation for Instant / protected series.
- In DashPanel Files & Templates and at https://compliance.otoco.io, this document is still labeled Certificate of Formation — use that name when uploading or talking to Mercury.
- Standalone / BYOE: Mercury wants your state-issued Certificate of Formation for that LLC.
Physical address (not registered agent)
Mercury wants a physical address it can associate with a person and with mail — not your registered agent address, and not “must be a U.S. business suite.”
- A home address anywhere works as the address type Mercury is asking for (example: a home in Brazil).
- Provide proof such as a utility document in a member’s name.
- You can use OtoCo’s Virtual Mailing Address ($249/yr) or your own address where mail can be received.
- KYB approval is still Mercury’s call; this does not mean every country or every proof type is guaranteed to pass.
Packet table
| OtoCo Instant / protected series | Standalone LLC / BYOE | |
|---|---|---|
| Certificate of Formation | Master COF (UI label: Certificate of Formation) | Entity’s own state-issued COF |
| Operating Agreement | Yes | Yes (already on file) |
| EIN letter | When issued | When on file |
| Physical address + proof | Required (anywhere + e.g. utility in member’s name) | Required |
| Same packet if series added later under Master? | Yes — identical | N/A |
Standalone / BYOE: OtoCo attaches only documents already uploaded (your COF, OA, EIN). Missing docs may be requested during Mercury setup.
Instant / protected series: with the $299 Mercury application service, OtoCo automatically uploads the Master Certificate of Formation, Operating Agreement, and EIN letter when issued. You still finish personal details and beneficial owners on Mercury’s hosted flow.
How to apply via OtoCo
- Entity must already exist (Delaware or Wyoming Instant / protected series or Standalone, including BYOE). Banking tab is BETA.
- EIN is recommended first ($189 one-time) — Banking will prompt you to add one or Continue without EIN.
- Have a physical address and proof ready (VMA or your own).
- Open Banking in DashPanel, or ask OtoCo AI: "Open a business bank account."
- Pay the $299 one-time Mercury application service fee.
- OtoCo pre-fills the application and automatically uploads the formation docs; you finish on Mercury’s hosted flow.
- Track status on the Banking tab (
approved,pending,information_requested, etc.).
Full walkthrough: Banking & EIN · How to apply for Mercury.
Why go through OtoCo
- If you purchase the $299 service, formation docs are automatically uploaded — Master COF for Instant, your own COF for Standalone/BYOE.
- You do not have to figure out “which Certificate of Formation” Mercury means for a protected series.
- Application is pre-filled from entity details on file.
- Still best-effort: Mercury decides; the fee pays for preparation, upload, and submission — not approval.
FAQ
Mercury asked for Articles of Organization / Articles of Incorporation
For a Delaware or Wyoming LLC, the formation document banks mean is a Certificate of Formation (sometimes called Articles of Organization). LLCs do not have Articles of Incorporation.
- OtoCo Instant / protected series: provide the Master Certificate of Formation (labeled Certificate of Formation in the UI / compliance.otoco.io).
- Standalone / BYOE: provide your state-issued Certificate of Formation.
If you purchase OtoCo’s $299 Mercury application service, these docs are automatically uploaded. Recommend going through OtoCo for that. Details: Articles of incorporation vs organization.
I don’t have a Certificate of Formation for my series
Correct — your series has no individual state-issued Certificate of Formation. Download the Master Certificate of Formation from Files & Templates or https://compliance.otoco.io (still labeled Certificate of Formation). Or buy the $299 service and OtoCo uploads it for you.
Instant vs protected series vs Standalone
| Path | What Mercury gets |
|---|---|
| OtoCo Instant (protected series) | Master COF + OA + EIN when issued + physical address/proof |
| Protected series added later under same Master | Same packet as Instant |
| Standalone | That LLC’s own state-issued COF + OA + EIN when on file + address/proof |
| BYOE | Same as Standalone — docs you uploaded at setup |
Comparison: Series LLC vs Standalone.
Is an EIN required?
OtoCo recommends ordering an EIN first ($189 one-time). You can start the Mercury application without one; Mercury may still require the EIN letter during signup. Having it on file lets OtoCo attach it automatically. See How to get an EIN.
What if Mercury declines?
The $299 fee covers the application service and is non-refundable — prep, auto-upload, and submit are already done. OtoCo AI can help you re-apply with an updated business description, or you can use your documents at another bank. Mercury approval is not guaranteed.
Why is going through OtoCo easier?
OtoCo knows Instant needs the Master Certificate of Formation (not a series-specific state filing), attaches the right packet, and automatically uploads it when you buy the application service. You still complete beneficial owners and personal KYC on Mercury. Approval remains Mercury’s call.