Mercury Bank, a US-based fintech that provides banking services to early-stage startups and tech founders, has added Nigeria to its list of countries that are prohibited from opening accounts on its platform.
Details
Founders from Nigeria can no longer open a US bank account based on new restrictions from Mercury Bank which updated its help section with the list of countries prohibited from opening accounts.
Mercury Response
A Mercury spokesperson told TechCrunch that it recently updated its eligibility requirements and notified certain customers that it could “no longer support them due to either the address(es) they provided or the locations where we recorded frequent account activity.
Digging Deeper
Mercury Bank is a digital bank that is popular with African tech founders from African countries including Nigeria.
Between the Lines
Other African countries that are prohibited from opening US accounts on Mercury include Burundi, Cameroon, Central African Republic, Republic of Congo, The Congo, Liberia, Libya, Mali, Mozambique, Somalia, South Sudan, Sudan, and Zimbabwe.
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