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When will people learn and STOP using Neobanks/Fintechs for good? Talked with ecom founder today who had been doing $500k/mo through his Mercury account for 2 years. They shut him down w/o notice @mercury @wise Relay, they are all the same brand of overpromise & under-deliver. Fortunately, there's another way. To be fair, fintechs are appealing. They are easy to open, and have insanely efficient UIs. The intention is there to be positive in the banking space, but the security is a real problem. They forget that this is the CORE purpose of a bank, not flashy UI and efficiency. As long as they randomly shut down accts without warning, they will never come close to a bank like @chase . On top of Security issues, using a fintech with a fake cash back "credit card" will do NOTHING to help you build real credit to eventually get a US Amex, loans, etc. So what has been happening to cause this new fintech ban wave, and how can you avoid losing your account? Many co's have recently changed their sponsoring bank, causing an increase in unruly KYCs, demands, and bans. The main issue is when folks login in from their home country (not the US), to access their accounts. Neo banks are picking up on the IP and demanding proof of address, more IDs, etc. The solution for now seems to be VPNs. If you are still using a fintech to run your day to day biz operations, make sure to NEVER login without a US VPN turned on (preferably one located close to your residential address listed on the account. NEVER use a registered agent address). Another option if you feel like you cannot remember this: invite a staff account, and just leave the main owner account logged in on a VPS based in the US, or dont login at all. No matter what, Don't rest in comfort when you are using a fintech, know it could end any moment. Make plans to fly to the US to do a proper bank run, or get Chase setup remotely as a longterm solution (both solutions available inside our community). Annoying up front for sure, but the side effect is a point+cash back+loan+secure banking system from your wildest dreams. The US LLC system is the best in the world, if you leverage it properly. Fintechs are not the way. If you take your business seriously, don't take the risk. Do the safe thing, do the right thing. We can help 🤝