Novo Business Checking vs Mercury Business Banking

Mercury Treasury sweeps balances into money market funds paying roughly 3.0% to 3.6% net once you clear a $250,000 minimum across accounts. Novo pays no interest at any balance.

Mercury includes free ACH, free domestic wires, and free USD international wires on every tier. Novo's domestic wires are still limited-access and route through a paid third-party integration, so ACH is the free option there.

Mercury's sweep network covers deposits up to $5 million. Novo caps out at the standard $250,000 through its single partner bank, Middlesex Federal Savings, with no sweep program.

Novo ships unlimited free invoicing with built-in integrations for Stripe, Shopify, Amazon, Etsy, and WooCommerce, plus Boost, which speeds up Stripe payouts by 2 to 4 business days at no cost. Mercury's invoicing is basic by comparison.

Novo Reserves split one balance into up to 20 labeled buckets for taxes, payroll, and profit, all inside the same account and FDIC titling. Mercury has no equivalent envelope tool on its free tier.

Mercury's debit card is fee-free at 55,000-plus Allpoint ATMs. Novo has no ATM network and instead refunds up to $7 a month in third-party fees, a much lower ceiling.

Is Novo Business Checking or Mercury Business Banking better?

Pick Novo if you invoice clients or sell through Stripe, Shopify, or a marketplace and want the payout speed and integrations built in for free. Pick Mercury if you are holding real cash, need international wires, or want a shot at actual yield once you clear the Treasury minimum. Neither takes cash deposits, so a cash-handling business needs a different primary account either way.

Does Novo or Mercury charge a monthly fee?

Novo Business Checking: $0. Mercury Business Banking: $0 (banking is free on every tier).

Which earns a higher APY, Novo or Mercury?

Mercury. Mercury Treasury sweeps balances into money market funds paying roughly 3.0% to 3.6% net once you clear a $250,000 minimum across accounts. Novo pays no interest at any balance.

Which is better for interest on idle cash?

Mercury. Mercury Treasury sweeps balances into money market funds paying roughly 3.0% to 3.6% net once you clear a $250,000 minimum across accounts. Novo pays no interest at any balance.

Is Novo or Mercury better for a small business?

It depends on the job. Novo fits invoicing-heavy freelancers and e-commerce sellers who want free integrations and faster Stripe payouts. Mercury fits startups and online businesses that move money by wire and might eventually clear the $250,000 Treasury minimum for yield.

Does Novo or Mercury pay interest?

Mercury does, but only through Mercury Treasury, which requires $250,000 across your accounts and pays roughly 3.0% to 3.6% net. Novo pays no interest at any balance.

Can you deposit cash with Novo or Mercury?

No. Neither account accepts cash deposits, so a cash-handling business needs a different primary account regardless of which one it picks.