Mercury
$0/mo
- Deposits held by
- Fintech; Choice Financial and Column N.A.
- Free cash deposits /mo
- Not applicable
- Entities accepted
- Not published at source
- Branches
- No
- To open
- None
- Monthly fee
- $0/moFree outright
Mercury
Mercury is a US financial technology company, not a bank, offering a free business checking account with fee-free transfers and Mercury IO, a corporate charge card for its account holders.
Best for
Registered US companies that never handle cash and want free payment rails, finance software and a charge card from one provider.
A free business checking account from a financial technology company, not a bank, with fee-free transfers and paid tiers that add software rather than banking.
- Rate on your money
- Not published (Treasury, an investment product)
- Cash deposits
- Not accepted
- FDIC coverage
- Up to $5M via sweep
- EIN required
- Yes
How Mercury compares
All prices in USDPrices checked
Side-by-side with the closest alternatives by monthly fee.
Each account's published monthly fee, and the plan that fee belongs to. Where a fee can be waived, the condition is stated rather than applied. Interest is shown as the rate each account publishes, with its conditions, and never as a forecast of what you would earn.
Relay
$0/mo
- Deposits held by
- Fintech; Thread Bank
- Free cash deposits /mo
- $2,000/day (ATM), $5,000/mo (retail)
- Entities accepted
- LLC, corp, partnership, sole prop, non-profit
- Branches
- No, Allpoint in network
- To open
- Not published at source
- Monthly fee
- $0/moFree outright
Novo
$0/mo
- Deposits held by
- Fintech; Middlesex Federal Savings
- Free cash deposits /mo
- Not applicable
- Entities accepted
- Sole prop, LLC, corp, partnership, non-profit
- Branches
- No
- To open
- None
- Monthly fee
- $0/moFree outright
Bluevine
$0/mo
- Deposits held by
- Fintech; Coastal Community Bank
- Free cash deposits /mo
- None
- Entities accepted
- Not published at source
- Branches
- No, MoneyPass in network
- To open
- $0
- Monthly fee
- $0/moFree outright
Mercury IO is a corporate charge card for Mercury account holders, issued by Patriot Bank, with no annual fee and no personal guarantee.
- Purchase APR
- Pay in full, no interest
- Annual fee
- $0
- Card type
- Charge, cash-underwritten
- Personal guarantee
- No personal guarantee
How Mercury IO compares
All prices in USDPrices checked
Side-by-side with the closest alternatives by estimated cost.
Fees only, at 5 cardholders and no foreign spend: the annual fee spread monthly, plus any software charged per cardholder. Excludes interest.
Mercury IO
$0/mo est.
- Card type
- Charge, cash-underwritten
- Purchase APR
- Pay in full, no interest
- FX fee
- Up to 3%
- Personal guarantee
- No personal guarantee
- Minimum to apply
- None
- Est. fees /mo
- $0/mo
Airwallex Corporate Card
$0/mo est.
- Card type
- Debit (spends your balance)
- Purchase APR
- Not applicable
- FX fee
- None
- Personal guarantee
- No personal guarantee
- Minimum to apply
- None
- Est. fees /mo
- $0/mo
Relay Visa Credit Card
$0/mo est.
- Card type
- Charge
- Purchase APR
- Not published at source
- FX fee
- Not published at source
- Personal guarantee
- Not published at source
- Minimum to apply
- $50K/mo revenue, or $20K/mo plus $25K cash
- Est. fees /mo
- $0/mo
Grasshopper x Mercantile Business Card
$0/mo est.
- Card type
- Revolving credit
- Purchase APR
- 16.15% to 29.65% variable
- FX fee
- Not published at source
- Personal guarantee
- Not published at source
- Minimum to apply
- Not published at source
- Est. fees /mo
- $0/mo
Strengths and trade-offs
Pros
- Base plan has no monthly fee, no minimum balance and no waiver condition
- ACH, domestic wires, real-time payments and checks are free on every plan
- Sweep network raises deposit cover well above the single-bank limit
- A savings account is included on every plan at no extra cost
- Accepts US companies founded by people living outside the United States
Cons
- A financial technology company, not a bank, so the cover is pass-through and conditional
- Does not accept cash deposits in any form
- Requires an EIN and formation documents, so an unregistered sole proprietor cannot apply
- Publishes no interest rate on either checking or savings
- The pricing page defaults to its annual view, so the monthly rate takes a click to reach
About Mercury
Mercury is a financial technology company rather than a bank. Banking services are provided through its partner banks, Choice Financial Group and Column N.A., and deposits are spread across a sweep network for cover above the single-bank limit. Which partner bank holds a given account is visible only after it has been opened, and the enhanced cover is pass-through insurance subject to conditions rather than direct cover from the institution whose name is on the app.
Its base plan carries no monthly fee, no minimum balance and no waiver condition, and the payment rails on it are free: ACH, domestic wires, real-time payments, checks and USD international wires. The paid plans do not buy cheaper banking, because the banking is already free. They buy software, including recurring invoicing, accounting categorization and a relationship manager.
Mercury does not support cash deposits in any form, which rules it out for a business that takes money over a counter.
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