Which US banks actually accept Nigerian founders?
Most formation services will sell you an LLC and name Mercury in the same breath. Mercury does not open accounts for founders living in Nigeria. Here is the real position, read from each provider's own published list.
Provider by provider
Verified July 28, 2026
Nigeria appears on Mercury's published prohibited-countries list. This is based on where you live, not where the company is registered — a US LLC does not change it.
Relay excludes Nigeria by owner citizenship or residency.
Nigeria is not among the countries where Wise permits holding a balance. Wise can still be used by your customers to pay you.
Payoneer serves Nigeria, including USD receiving accounts. It is a receiving account rather than a card-acquiring processor — useful for getting paid, not for running checkout.
Provider country policies change without public notice — Mercury revised its prohibited list in 2024 and has amended it since. Treat this page as a starting point that was accurate on the date shown, then check the provider's own page before you apply. We would rather you verify us than trust us on something this consequential.
Why the LLC still matters even though Mercury is closed
It is tempting to conclude that if the well-known neobanks are shut, the whole structure is pointless. That is not right. The LLC and EIN are what make Stripe possible, and Stripe is usually the actual objective — Nigeria only appears on Stripe's extended network through Paystack, which is a different product. Banking is a separate problem with separate answers, and the honest answer is that Nigerian founders have fewer of them.
What Nigerian founders actually do
The common pattern is Payoneer for receiving, paired with Stripe for collecting from customers. Some founders hold funds inside Stripe longer than they otherwise would because the onward banking step is the constrained one. None of this is a workaround — it is ordinary use of providers that accept Nigerian residents.
What does not work, and why it is worth saying plainly
Opening a Mercury account by giving a US address you do not live at is account fraud, and it is the advice you will find on forums. It puts your funds at risk of freeze and your company at risk of closure, and it exposes you to consequences a formation service will not be standing next to you for. We will not help you do it.
Worth knowing before you buy
Nigeria has the narrowest US banking options of any market we have researched. If reliable USD business banking is the single thing you need most, understand before you buy that the LLC solves your payment-processing problem far more cleanly than it solves your banking problem.
Common questions
Can I open Mercury if my LLC is American?
No. Mercury's restriction is based on where the founder lives, not where the entity is registered. Its own page states it is unable to open accounts for founders living in the listed countries, and Nigeria is listed. A Wyoming LLC does not change your residence.
Will Payoneer let me accept card payments from customers?
Not in the way Stripe does. Payoneer gives you receiving accounts to collect payments and marketplace payouts. If you need a checkout on your own site with subscriptions and card handling, that is Stripe's job — which is what the LLC and EIN unlock.
Is this likely to change?
Possibly, in either direction. Mercury added a large group of countries in 2024 and has amended the list since. We date this page rather than presenting it as permanent, and we would rather you check the provider's page than assume our snapshot still holds.
Form your US LLC from Nigeria
Wyoming filing, Registered Agent, and EIN guidance. $100 state fee, filed in one to three business days.
RazorFile files companies. We are not a law firm, bank, or tax advisor, and nothing on this page is legal or tax advice.