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What is Mercury?
Founded in 2017 and headquartered in San Francisco, Mercury is a fintech platform for business banking and financial operations. It serves more than 200,000 companies and reported $500 million in 2024 revenue.
Mercury combines business checking and savings accounts with cards, payments and operational finance software in a web and mobile dashboard. Companies can send ACH payments, domestic and international wires, real-time payments and checks; issue employee cards; pay bills; create invoices; and manage reimbursements. Its account is a fintech service rather than a bank: banking services are provided through Choice Financial Group and Column N.A., both Members FDIC, with sweep-network options for eligible deposits.
The platform reaches beyond banking into accounting and tax administration. QuickBooks Online, Xero and NetSuite connections sync transaction data, while categorization, receipt matching, approval controls, bill pay, invoicing and 1099 workflows reduce manual work. The limits matter for buyers in regulated or international settings: Mercury is not itself FDIC-insured, eligibility and pass-through insurance conditions apply, non-USD activity carries fees, and it is not a replacement for a full tax-preparation or general-ledger system.
Mercury is best suited to US startups, venture-backed companies, agencies, ecommerce businesses and other small or growing firms that want banking and finance operations together. Core checking and savings have no monthly fee, minimum balance, overdraft fee or account-opening fee. Paid Plus and Pro subscriptions add workflow automation and support; advanced features, Treasury access, international activity and certain filings can add separate costs. It is an adjacent fit for tax and finance teams rather than a dedicated tax vendor.
Key features
Business banking
Provides business checking and savings with no required monthly fee, minimum balance or overdraft fee.
Payments and transfers
Supports ACH, domestic wires, real-time payments, checks and international wires, with USD ACH and domestic wires free.
Cards and expenses
Issues virtual and physical debit cards, IO corporate credit cards, employee cards, spending controls, receipt matching and reimbursements.
Bill pay and invoicing
Lets teams onboard vendors, apply approval rules, detect duplicate bills, create invoices and accept card, ACH, wire and check payments.
Accounting automation
Connects to QuickBooks Online, Xero and NetSuite for bank feeds, categorization, GL coding, receipts and attachments.
Tax workflows
Centralizes tax documents and supports W-9 scanning plus federal and state 1099-NEC and 1099-MISC filing.
Treasury and cash
Eligible customers with a $250,000 Mercury balance can access Treasury, which invests in eligible money-market funds rather than FDIC-insured deposits.
Mercury pricing
Core banking is free. Mercury Plus is $29.90 per month and Pro is $299 per month, with discounted annual subscriptions available. Mercury Books is separate, free through December 31, 2026, then $35 per month; free-plan 1099-NEC/MISC filing costs $5 per filing.
| Plan | Price | What's included |
|---|---|---|
| Mercury | Free | Checking and savings, ACH and domestic wires, real-time payments, cards, bill pay, basic invoicing, accounting bank feeds and basic 1099 workflows |
| Mercury Plus | $29.90/mo | Everything in Mercury, recurring invoices, $1 ACH debit invoicing, unlimited 1099 filings, priority support and six months of Xero |
| Mercury Pro | $299/mo | Everything in Plus, relationship manager, $0 ACH debit invoicing and NetSuite categorizations |
Free trial: Free core banking; no separate trial is required.
Pros & cons
Pros
- Free core banking includes ACH, domestic wires, real-time payments and no minimum balance.
- Accounting connections support bank feeds, GL coding, receipts and automated categorization.
- Up to $5 million of FDIC coverage may be available through partner-bank sweep networks when conditions are met.
- The same platform covers cards, bill pay, invoicing, reimbursements and 1099 workflows.
Cons
- Mercury is a fintech, not a bank, so deposits rely on partner banks and pass-through insurance conditions.
- Non-USD international wires carry a 1% currency-exchange fee and non-USD card transactions can cost up to 3%.
- Advanced NetSuite automation, recurring invoicing and some reimbursement features require a paid plan.
- Mercury does not replace dedicated tax preparation, payroll or full accounting software.
Who is Mercury best for?
- US startups that want banking, cards and finance operations in one dashboard.
- Growing companies that need free ACH, domestic wires and employee spending controls.
- Finance teams syncing Mercury transactions into QuickBooks Online, Xero or NetSuite.
- Businesses handling 1099 workflows alongside their everyday payments and cash management.
Coverage
Integrations
Notable customers
Frequently asked questions
How much does Mercury cost?
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Core business checking and savings are free, with no required monthly fee, minimum balance or overdraft fee. Plus is $29.90 per month and Pro is $299 per month; 1099 filings on the free plan are $5 each.
How quickly can a business start using Mercury?
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Mercury is an online application and dashboard rather than a branch-based bank. Approval depends on the company and documents submitted, so the platform does not promise a universal opening time.
How does Mercury compare with QuickBooks?
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Mercury is primarily business banking and financial operations, while QuickBooks is accounting software. Mercury can feed and enrich transactions in QuickBooks Online, but it does not replace QuickBooks’ broader ledger, reporting and tax-accounting functions.
Which integrations does Mercury support?
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Direct accounting integrations include QuickBooks Online, Xero and NetSuite. Mercury also supports connecting as a bank account for platforms such as Stripe, Shopify and Amazon, while CSV export remains available.
Who is Mercury for?
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It is designed for US businesses, especially startups, ecommerce companies, agencies and growing teams. Eligibility, prohibited-country rules and account features depend on Mercury’s review and partner-bank requirements.
Is Mercury secure and FDIC insured?
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Mercury lists SOC 2 compliance, encryption, PCI certification, multifactor authentication and automated fraud monitoring. Mercury itself is not an FDIC-insured bank; eligible checking and savings deposits are held through Choice Financial Group and Column N.A. and may receive pass-through coverage through sweep networks.
Sources
Facts and pricing verified on October 19, 2026. Vendors change pricing often, so confirm with Mercury before buying. How we research
