Skip to content
  • There are no suggestions because the search field is empty.

Banking options & limitations when using doola

Choose the business banking setup that fits your needs. We work with several partners, and you’re also free to use any bank you prefer.

Summary

  • You can bank anywhere. Our partners are optional and meant to make setup faster.

  • Popular choices include Mercury, Slash, Airwallex, Payoneer, and Wise (Wise provides money services, not a traditional bank account in most regions).

  • Approval is up to the provider. Expect identity/business verification (KYC/KYB) and industry/geography reviews.

Note: doola is not a bank. Banking and card services are provided by third-party institutions under their terms and eligibility rules.

Currently available options (recommended partners)

  • Mercury (Click to register)— U.S. business banking with online onboarding; good fit for startups and e-commerce.

  • Slash (Click to register)— Business accounts with a streamlined application (availability varies).

  • Airwallex (Click to register)— Multi-currency accounts and global payouts; useful for cross-border operations.

  • Payoneer (Click to register)— Business accounts with online registration (availability varies).

  • Wise (Click to register)— Money services with multi-currency balances and transfers; not a traditional bank in most places.

For the latest partner links or application guides (e.g., Mercury Application Guide), check your doola dashboard or ask Support.

You can also use any bank you like

Bring your own bank. We’ll still provide your formation documents and EIN letter and help with common account-opening questions.

What to expect during onboarding (KYC/KYB)

Most providers will ask for:

  • Company documents: Formation document (Articles/Certificate), Operating Agreement, EIN letter.

  • Owner/manager identities: Passport or government ID; in some cases proof of residential address.

  • Business details: Website or product description, expected transaction volumes, major countries, and funding sources.

  • Beneficial owners: Names/IDs for anyone who owns or controls the company (per provider policy).

Tip: Keep scans/photos clear, color, and uncropped. Mismatched names or addresses are the #1 reason for delays.

Common limitations & how to navigate them

  • Industry restrictions: High-risk categories (e.g., gambling/casino, adult, certain crypto, CBD) may be limited or require extra review.

  • Geography & sanctions: Some countries/regions or nationalities are not supported.

  • Document mismatch: Company name, address, or ownership must match across all documents.

  • Physical cash & checks: Many online providers don’t support cash deposits or paper checkbooks.

  • International wires & multi-currency: Available on some platforms but not all—confirm before you apply.

  • Card programs: Virtual and physical cards are common; spending limits and merchant categories may be restricted.

Choosing the right option (quick guide)

  • U.S. LLC selling online in USD only? Start with Mercury or your local U.S. bank.

  • Global customers or multi-currency needs? Consider Airwallex or Wise for collections and payouts.

  • Need a fast, lightweight setup? Try Mercury or Wise while you pursue a traditional bank in parallel.

  • Specific features (wires, checks, cash)? Verify each provider’s capabilities first.

If your application is declined

  1. Ask for the reason (industry, geography, documents).

  2. Tidy your paperwork: matching addresses, clear ownership, active website.

  3. Try another provider that better fits your profile (e.g., multi-currency or specific industries).

FAQs

Are partner accounts FDIC-insured?
Insurance and protections vary by provider and program bank. Review each provider’s disclosures.

How long does approval take?
Anywhere from same-day to a few business days, depending on document review and risk checks.