Offer at a glance
- Maximum bonus amount: $500
- Availability: Nationwide
- Direct deposit required: No
- Additional requirements: No
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
- Mercury is a ‘banking stack for startups’ and is offering a bonus of $500 when you spend $10,000+ via the Mercury debit card.
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about
Early Account Termination Fee
I’m unsure if there is any early account termination fee or not
Our Verdict
I suspect approvals will be difficult to come by as this is targeted towards startups. Deal itself is good if you have a lot of natural debit card spend.
Hat tip to mothman69
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
Is this offer dead? I clicked on the offer link and didn’t see the code TWiST mentioned on the page
I am seeing the same
The twist promption page did not actually change, seems like they re-directed it to the default domain landing page.
Time back machine shows the last change on the twist promotion page in April 2023
I googled and found two other offer links for mercury: One of them is $500 bonus for deposit $10k in 90 days, however I did not see how long the $10k need to be maintained in the account; the other is $500 bonus for $10k debit spending in 90 days, it kept mentioning code but I didn’t see the code anywhere, it probably track by URL.
Both seem a little sketchy, I am not sure whether to go with either of them or wait a bit to see if the TWiST promo comes back.
https://mercury.com/partner/founder-shield
https://www.joinsecret.com/mercury
Do you know if they allow sole Proprietorship?
Not sure, I was planning to try with LLC. Most banks allow sole proprietorship, it doesn’t hurt to try. Which offer do you plan to apply?
I did it successfully with a sole prop my first time, but someone else I know got denied. LLC seems to be more successful.
i did the 10k cash app cycle, no bonus. Balance $0 after a couple months, contacted CS and told them. They asked which promo I used – (TWiST) – $500 credited shortly after. They’re nice!
Churned for a third time using another LLC, 2 months later.
3/10: opened account, approved within hours
3/11: deposited 5k, added 5k to cash app
3/14: deposited 5k, added 5k to cash app
3/17: 500 bonus posted
Churned for second time using a different LLC, 4 months later.
Jan 3: Deposited 4k, added 4k to cash app
Jan 10: deposited 4k, added 4k to cash app
Jan 15: deposited 2k, added 2k to cash app
Jan 16: 500 bonus posted
Cash app limit went up so was able to finish a little early.
What type of documents do they ask for when applying as an LLC?
EIN and certificate of organization
muchos gracias!
Thanks
Caleb . 4 months after closing the first account? I have an account with them and I am debating whether to close it.
Closed 9/18 and opened a new one Jan 3
Thank you
Caleb ! I’ll close mine and try to open after several months.
Aug 28: 10k ach from chase biz, 4000 cash app load
Sep 4: 3000 cash app load
Sep 12: 3000 cash app load
Sep 13: 500 bonus
My cash app limit is only 4k/week, I think it would be quicker with higher limit.
Dumb question, but can you transfer money from Cashapp to your bank account?
Is form SS-4 from the IRS with the EIN sufficient? Did they ask for any other “business formation” documents?
Yea you can transfer from cash app to bank account. They didn’t ask me for ein document just the number. For the business formation document I used a certificate of assumed name from the state.
When you say assumed name . Do you mean DBA?
If DBA , whether it is for Sol Prop OR LLC?
Yea meaning DBA. Mine is for sole prop and Mercury accepted it.
CANT SEEM TO ERASE THIS COMMENT..DISREGARD
Disappointed, I signed up through the TWIST deal as I already mentioned but today they credited me $300 for the other fitsmallbusinessstartup promo they have going on. Already made $10K in spend with Cash App in four $2500 transactions that I completed yesterday. Instead of $500, I only received $300.
I had looked at the link someone posted for the $300 deal and the $500 twist deal and decided to go with the higher offer. 100% I applied through the landing page for the TWIST deal, and had closed out the other page. Maybe this has to do with cookies being attached from the different landing pages and some type of glitch. Or it could just be an error on their part.
Here’s the problem, I don’t know if I should contact the bank to see if I can get this fixed. I’m worried if they manually review my account they might object to the Cash App transactions and say they’re not real purchases, and they might also see that I just made the transactions to get a bonus.
What does everyone think? Is it a risk to ask the bank why the proper promo wasn’t attached to my application, or is it safe for me to ask?
I do not believe they will try to claw back the $300 or scrutinize the Cash App transactions (their offer terms don’t exclude p2p transactions), but I would withdraw everything except $1 before contacting them just to be safe. Worst case, they say no and stand by the $300 promo. Best case, they apologize for the mix up and credit you $200.
Thank you
mothman69, your thinking is pretty much in line with mine. Was just hoping to hear some more opinions and don’t want to possibly jeopardize this for others moving forward. Like you suggested, I went ahead and pulled out the $300 and there will be $5 left in the account once the transaction posts. At that point, I will contact them to point out the discrepancy and hope they offer to credit me the $200.
I had to do this recently (maybe 3 months ago) for a bank – and showed them a video of my history and going to the link – then they gave me the promo offer.
Also I find it good practice to do all research in my normal browser, then open the app link in a private browser window to complete the app. I use Firefox on windows by default unless I hit a snag then may switch to Chrome, ad block on or off seems to not make a difference.
Sometimes I take a screenshot of the last page of the app if it is showing promo code, but I should probably do this all the time or even do a screen record of the whole app process. For sure I ALLWAYS copy/paste the terms from the offer page to my big ol spreadsheet. Was thinking about sharing my spreadsheet with the class in case anyone needs help on critical data points to gather per account.
On your specific question on if its worth the risk to ask for $200, yes I would go for it after pulling all your dollerydoos out. Be nice and professional while asking. But be insistent and confident, I’d have all the pertinent info on a note. Good luck!
More great advice from
Carlzjr for any readers planning to do this promo, or any promo for that matter. In my case, I did this application on an older device without all the bells and whistles, but just clearing out my cookies before applying from the TWIST page might have prevented this from happening. I do plan on definitely asking for the $200 credit and will try to make an update on how they respond.
Did you get it resolved? I signed up with the TWIST link, and completed the transactions on the 25th, but no bonus yet. It seems the previous DPs got the bonus posted pretty quickly. Now I am a little worried. I had the referral link open before I signed up with the TWIST link, I wonder if the cookies got me signed up under the referral instead.
hello maya,,im looking at mercury right now?did your bonus ever post?
Yes, it posted very soon after I met the requirements.
Delayed response, but I did eventually get it resolved after filing a CFPB complaint. Their customer service is pretty bad from my experience.
Tip: Mercury allows you to adjust your daily spending limit above the default $2,500. I originally assumed it was the max spend they imposed per day but it’s possible to raise or lower the limit at will through the online banking platform.
Maya
Good info! Thank you!
Yes, I concur with Jimmy. I was able to do this the other week.
Was approved just now, I applied through the TWIST link above. There wasn’t anywhere to put a promo code or anything and not much indication of the promo, is this normal?
I’m planning to do the Cash App method that
mothman69 posted below. Were the Cash App loads to your personal account? I see they have Cash App for business also, I’m just trying to anticipate any possible complications.
Perfect, thank you
mothman69 !
My cash app gave me a $4k per 7-day cash load limit. Do you have the same limit? I wonder if everybody gets the same limit or if it was because my account was new.
Mine says $25K per day Add Cash, and unlimited for Receive. I previously verified my account.
I’d say that’s a lot of daycare, but I’d also bet it’s pretty expensive. Cash App worked for mothman, hopefully still does!
Thanks
Jimmy and 
mothman69 ! It looks like my low limit was because I did not verify my account and also my account was very new. I’ll verify it and let it season a bit, hopefully they would increase my limit.
I did $2k legit debit spending (guess how many months of daycare that buys.. ) and the bonus delivered within a week. So cannot directly verify cashapp works but I think it should. Also have not tried spoffing any DDs with it yet but will report back if it works.
Did it buy at least one month? Daycare is bloody expensive.
1.5 months… Kid mortgage I call it… There’s very little equity in these gym matts
Smooth application with LLC, uploaded Articles of Inc and CP-whatever, approved next day. Went with the offer here, with $300 bonus for $2k spend. Very nice interface, looks to have a good suite of features, and instant virtual card.
Wondering if this could be used to make DDs? Anyone work that angle?
Is this no longer working
Carlzjr ?
The twist promo in the main post, 10k for spend for 500 bonus, looks to be working still. The 2k promo looks like it is not working anywhere though.