Fintech
Mercury Bank to close accounts in prohibited countries by August
July 24, 2024
Written by FinTech Alliance in Financial Technology
US fintech firm Mercury Bank has announced that it will close user accounts in several banned countries, including Zimbabwe, by August 22, 2024.
The bank’s updated eligibility criteria now exclude account openings and transactions for individuals and businesses in specific countries for compliance reasons. This decision has led to concerns among affected users, who depend on Mercury Bank for their international financial transactions, potentially disrupting their business operations.