What is Mercury?
Mercury provides online business banking built for startups and growing companies. Accounts carry no minimum balances or monthly fees on standard banking. The platform combines checking, savings, virtual cards, and treasury features in one interface.
Mercury is a fintech platform that delivers business banking services through partnerships with FDIC-insured institutions. Users can open checking and savings accounts online in roughly ten minutes with no minimum balance requirements. The platform supports no-fee USD payments worldwide and issues virtual cards that earn up to 1.5% cashback on purchases. Idle cash can earn yield through Mercury Treasury, which offers rates up to 3.80%. Built-in automation handles bill pay, invoicing, and expense management while syncing with accounting software like QuickBooks and Xero. The tool is purpose-built for business use and does not support personal banking or high-risk investment activity.
Ideal Customer Profile
Early-stage founders and small business teams who want straightforward, fee-free business banking with integrated expense management and cashback rewards.
Key Features
- Free checking and savings accounts
- Virtual cards with 1.5% cashback
- No-fee USD payments worldwide
- AI-automated bill payments
- QuickBooks and Xero sync
- Unlimited virtual card creation
- Treasury yields up to 3.80%
- Online account opening in minutes
- Invoicing with recurring payment support
- Team expense controls and permissions
How to use Mercury
Teams apply online, receive account access, then manage payments, issue virtual cards to employees, and automate recurring bills from a single dashboard. Accounting integrations keep bookkeeping current without manual data entry. Finance leads can set spending controls and monitor transactions across the organization.
Pricing
Basic banking is free with no monthly fee. Paid plans start at $29.90 per workspace per month, with a Pro tier at $299 per workspace per month.
Frequently Asked Questions
How do you get started with Mercury?
Apply online in about ten minutes to open an account. From there you can manage funds, issue virtual cards, send payments, and set up automated invoicing.
What does Mercury cost?
The core banking experience is free with no monthly fees. Paid tiers begin at $29.90 per month for added invoicing features and go up to $299 per month for premium support.
Why should startups choose Mercury?
It eliminates common banking fees while offering 1.5% cashback on card spend and yields up to 3.80% on idle cash. Those savings add up for cash-conscious early-stage companies.
How does Mercury provide banking services?
Mercury operates as a fintech layer that partners with FDIC-insured banks to hold deposits. It brings payments, cards, invoicing, and accounting integrations together in one application.
Is Mercury actually free?
Yes, the base banking tier charges no monthly fees and requires no minimum balance. Advanced invoicing and premium features require a paid plan starting at $29.90 per month.
Which banks back Mercury accounts?
Mercury works with Choice Financial Group and Column N.A. to provide FDIC-insured deposit accounts. Treasury investment services are supported through partnerships with established financial firms.
