# Mercury Bank Account — Palace Fund LLC

**Status:** APPROVED AND LIVE (2026-03-12). Next step: fund the account.
**Priority:** HIGH — blocks receiving the $300K wire
**Owner:** Ace + Junwon

## What

Open a Mercury business checking account for Palace Fund LLC. This is the account that receives Sungho Park's $300K wire from Korea.

## Why Mercury

- No monthly fees, no minimum balance
- Designed for LLCs/startups
- Wire transfer support (domestic + international incoming)
- API access for future automation

## Requirements

- EIN: 41-4626580 ✓
- Articles of Organization (filed, approved 2026-03-03) ✓
- Operating Agreement (dated 2026-03-09) ✓
- Managing Member ID (Junwon's — driver's license or passport)

## Steps

- [x] Junwon: Apply at mercury.com/signup (2026-03-08)
- [x] Upload: Articles of Organization PDF
- [x] Upload: Operating Agreement PDF
- [x] Upload: EIN confirmation letter
- [x] Junwon: Verify identity
- [x] Submit additional documents + residential address (2026-03-10)
- [x] Wait for Mercury approval (approved 2026-03-12)
- [x] Junwon: Enable 2FA (2026-03-08)
- [x] Junwon: Invite ace@palace.fund as team member (2026-03-08)
- [ ] Once approved: get wire instructions (routing number, account number, SWIFT/BIC)
- [ ] Send wire instructions to Sungho Park (for Step 5 of korean-legal-tasks guide)

## Wire Info Needed for Parents

Once account is open, parents need:
- Bank name: Mercury (Evolve Bank & Trust)
- Routing number (ABA)
- Account number
- SWIFT code (for international wire)
- Beneficiary name: Palace Fund LLC
- Beneficiary address: 20687 Park Cir W, 3, Cupertino, CA 95014

## Dependencies

- ~~OA must be signed~~ ✓ signed 2026-03-09
- Blocks: wire from Korea, Form D filing, ITIN application