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Mercury

Mercury Business Banking

By Alex Compton · Last verified

The startup-grade banking stack with free wires and $5M FDIC sweep

9.0
Our Rating
APY / yield
Treasury is a separate investment product: published net yields 3.30–3.75% for MRGXX (October 19, 2026) and 3.63–4.08% for MCRYX (October 16, 2026), varying by total balance; $250,000 eligibility threshold
Monthly Fee
$0 (banking is free on every tier)
Minimum to Open
None
ATM Access
No Mercury ATM fee, but operator fees may apply; $1,000 per card and $3,000 per account daily withdrawal limits, and no cash deposits at all

Insurance: Eligible bank deposits may receive up to $5 million through Choice Financial Group, Column N.A. and sweep banks; program conditions and other same-category deposits at those banks affect coverage. Treasury investments are not FDIC insured.

Account Terms History

A dated record of APY, fees and opening requirements. New changes append to this table; prior terms remain visible.

ObservedAPY / yieldMonthly feeMinimumEvidence
2026-10-23Treasury is a separate investment product: published net yields 3.30–3.75% for MRGXX (October 19, 2026) and 3.63–4.08% for MCRYX (October 16, 2026), varying by total balance; $250,000 eligibility threshold$0 (banking is free on every tier)NoneMercury Treasury qualification requirements →Scoped Treasury eligibility clarification: current qualification help excludes single-member LLCs, partnerships, LLPs and nonprofits, and applies the balance threshold within one organization. Prior observations and October 12 full-record date preserved.
2026-10-23Treasury is a separate investment product: published net yields 3.30–3.75% for MRGXX (October 19, 2026) and 3.63–4.08% for MCRYX (October 16, 2026), varying by total balance; $250,000 eligibility threshold$0 (banking is free on every tier)NoneMercury Treasury disclosures and linked fund table →Scoped Treasury and insurance clarification. Published fund figures use different yield measures and dates; MCRYX is an ultra-short bond fund, not a money market fund. Full account verification date remains October 12.
2026-10-12None on checking/savings; Mercury Treasury yields roughly 3.30-4.05% net as of 10/9/2026 ($250k minimum)$0 (banking is free on every tier)NoneMercury pricing, Treasury page and ATM help article →Reconfirmed free banking tiers, $5M FDIC sweep, wire pricing and no cash deposits; Treasury now up to 4.05% net (10/9/2026); ATM terms rewritten from Mercury's ATM help article
2026-06-11None on checking/savings; Mercury Treasury yields roughly 3.0-3.9% net ($250k minimum)$0 (banking is free on every tier)NoneArchive record · no attached snapshotLegacy snapshot before event-level evidence attachments

Primary-source verification log

Append-only evidence ledger
  1. changed

    Scoped clarification: Treasury eligibility excludes single-member LLCs, partnerships, LLPs and nonprofits; balance threshold applies within one Mercury organization. Standard banking eligibility is separate. Preserved full-record date and prior history.

    Fields: features, cons, ourTake, termHistory

    Mercury Treasury eligibility guide →
  2. changed

    Separated government money market and ultra-short bond yields with their October observation dates, eligibility and investment risk. Corrected comparison discussion and conditional sweep wording without renewing the full account date.

    Fields: apy, fdic, features, cons, ourTake, termHistory

    Mercury Treasury disclosures and fund table →
  3. changed

    Reconfirmed free banking tiers, $5M FDIC sweep, wire pricing and no cash deposits; Treasury now up to 4.05% net (10/9/2026); ATM terms rewritten from Mercury's ATM help article

    Fields: apy, atm

    Mercury pricing, Treasury page and ATM help article →
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Plan Options

Mercury

$0

  • ▸Free checking and savings with free ACH, domestic wires, and USD international wires
  • ▸Unlimited bill pay, basic invoicing, and expense tracking
  • ▸Reimbursements for up to 5 users; QuickBooks and Xero sync

Mercury Plus

$29.90 (15% off billed annually)

  • ▸ACH invoice payments at $1 per transaction and recurring invoices
  • ▸Reimbursements for up to 20 users ($5 per extra user)
  • ▸Six months of Xero free

Mercury Pro

$299 (15% off billed annually)

  • ▸Dedicated relationship manager
  • ▸Free ACH invoice payments and unlimited invoicing API
  • ▸Reimbursements for up to 250 users

Features

  • ▸Free ACH, free domestic wires, and free USD international wires (SHA) on every tier; $15 for OUR-option USD wires
  • ▸Mercury Treasury is a separate investment with principal risk; it requires $250,000 within one Mercury organization plus location and entity eligibility
  • ▸IO corporate credit card with flat 1.5% cashback
  • ▸Up to 14 accounts plus virtual cards with spend controls
  • ▸Built-in bill pay, invoicing, and expense management
  • ▸Full API access for programmatic banking

Pros

  • +Banking itself is genuinely free; paid tiers only add workflow software
  • +$5M FDIC sweep coverage is among the highest of any fintech
  • +Free USD international wires are rare at any price
  • +Best-in-class product polish and API for startups

Cons

  • −Treasury excludes single-member LLCs, partnerships, LLPs and nonprofits under current help rules; a $250,000 balance alone does not establish eligibility
  • −No cash deposits whatsoever
  • −Partner bank Choice Financial Group operates under a federal consent order
  • −1% currency exchange fee on non-USD international wires

Our Take

Mercury is worth comparing for USD wires and integrated payment workflows. Its optional Treasury service is an investment with separate balance, location and entity requirements. Current Treasury help excludes single-member LLCs even though standard Mercury business banking supports them. Confirm eligibility before moving money for Treasury access. Multiple accounts and automatic transfer rules can organize operating cash, but physical cash deposits are not supported.

Best for: Startups and online businesses that want free wires and serious software

Open at Mercury →

Last verified 2026-10-12

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