☠️ US 🇺🇸Banking Startup Mercury Suddenly Ceases Service for Ukrainian Passport Holders…

☠️ US 🇺🇸Banking Startup Mercury Suddenly Ceases Service for Ukrainian Passport Holders…

… as well as support for fintechs with business and residential addresses in Ukraine🇺🇦, Russia🇷🇺, Nigeria🇳🇬, and some other countries deemed to have “high legal risk”.

➡️ Full list of countries:
• Afghanistan
• Albania
• Belarus
• Bosnia and Herzegovina
• Burundi
• Cambodia
• Cameroon
• Central African Republic
• Congo (Democratic Republic) and Congo
• Croatia
• Cuba
• Eritrea
• Haiti
• Iran
• Iraq
• Lebanon
• Liberia
• Libya
• Mali
• Mozambique
• Myanmar
• Nicaragua
• Nigeria
• North Korea
• Pakistan
• Palestine
• Philippines
• Russia
• Somalia
• Sudan
• Syria
• Ukraine
• Venezuela
• Yemen
• Zimbabwe

➡️ Accounts subject to disconnection were identified based on data provided at registration, regular KYC/KYB updates, as well as the frequent location of account activity (via IP addresses).

➡️ Better to be safe than sorry🫣 — in April, the FBI put Mercury under scrutiny due to its practice of allowing foreign companies to open accounts through one of its partners (Choice Bank).

➡️ Mercury explained its decision to include Ukraine on the banned list, stating that maintaining support in the country had become “too complicated,”due to the current US sanctions.

➡️ Subsequently, Mercury clarified that the restrictions on Ukrainians were “a mistake.” The policy change now only affects residents in Ukraine, not those living in the US with a Ukrainian passport.

#news #Russia #USA