Does Mercury guarantee account approval?
No — Mercury does not guarantee account approval, and OtoCo does not guarantee it either.
What the $299 fee covers
The $299 one-time Mercury application service pays for OtoCo to:
- Pre-fill the Mercury application with your entity details
- Attach formation documents (Certificate of Formation, Operating Agreement, EIN letter)
- Submit the application on your behalf
- Present a clean, non-crypto-presenting business description
The fee covers preparation and submission — not Mercury's approval decision.
If Mercury declines
- The $299 fee is non-refundable — the application work has already been completed
- Mercury can decline based on its own KYB/AML standards, business model, or country-of-residence rules
- OtoCo AI can help you re-apply with an updated business description
- You can use your entity documents to apply at any bank that accepts them — Mercury is the fastest path for most OtoCo customers, not the only option
If approved
Mercury provides FDIC-insured business checking and savings, physical and virtual debit cards, wire/ACH, and integrations with QuickBooks, Stripe, Brex, and Ramp.