Overview
Mercury is a financial technology company that offers business checking and savings accounts to startups and small businesses. It is not itself a bank: deposits are held at Choice Financial Group and Column N.A., both FDIC members, and Mercury states that deposit insurance only covers the failure of an insured partner bank[9]. Through a sweep across partner banks, its plan comparison lists up to $5 million of FDIC coverage[9].
The base Mercury plan costs nothing per month and includes free ACH transfers, domestic wires, real-time payments and USD checks, along with company cards, invoicing, bill pay and bank feeds for accounting software[9]. USD international wires carry no Mercury fee, while wires sent in other currencies incur a 1% exchange fee[9]. Paid tiers add recurring invoices, 1099 filing and a relationship manager. Banking Dive reported in April 2026 that Mercury had more than 300,000 clients and about $650 million in annualised revenue, and that the Office of the Comptroller of the Currency (OCC) had granted conditional approval for a national bank, Mercury Bank, N.A., to be headquartered in Utah[10]. Final approvals from the OCC, FDIC and Federal Reserve were still outstanding at that time, so the partner-bank model continues[10]. Mercury’s published pages do not describe a way to deposit cash, which matters for retail and hospitality businesses.
Mercury features
- Free domestic wires and ACH
- Free USD international wires
- Company debit and credit cards
- Invoicing and bill pay on the free plan
- Treasury access from a $250K balance
- Bank feeds for accounting software
- Unlimited 1.5% cashback
- Limit based on Mercury balances
Mercury pricing
Mercury: $0/month. Mercury Plus: $29.90/month (ACH-debit invoicing at $1 per transaction, recurring invoices, unlimited 1099 filings, priority support). Mercury Pro: $299/month (relationship manager, $0 ACH-debit invoice transactions, NetSuite categorisations). Add-ons: Mercury Books $35/month; Mercury Payroll $100/month plus $50 per person paid, both waived until 31 December 2026. Non-USD international wires: 1% FX fee; optional OUR wire option $15.
Mercury strengths and limitations
Strengths
- $0 base plan with free domestic wires
- Up to $5M sweep coverage
- Bill pay and invoicing included at no cost
- Pending national bank charter could reduce reliance on partners
- Flat cashback with no category tracking
- No separate credit application
Limitations
- Not a bank today; insurance depends on partner banks
- No cash deposit method described on its pricing page
- 1% FX fee on non-USD wires
- Payroll and bookkeeping add-ons cost extra after 2026
- Requires a Mercury bank account
- Limit shrinks if balances fall
Appears in
Mercury alternatives and competitors
Alternatives to Mercury: companies ranked in the same lists.
Capital One, National Association- Relay
Brex
Emburse Cards
Spendesk
Payhawk
Pleo
Rippling- Navan
- Airwallex
BILL Divvy Card
American Express National Bank
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