Mercury is a significant participant within the startup banking area. However a number of different banks and fintech firms provide glorious enterprise checking accounts value a glance.

Some platforms on this record — Brex, Rho and Meow — look so much like Mercury. They’ve polished web sites, few required charges and even related options, like free wire transfers. They goal to serve the identical startup viewers.

Others, like Bluevine and Relay, could also be higher for smaller firms with out outdoors traders.

Most of those firms are additionally startups themselves. You possibly can’t consider them solely by function set. As a substitute, take into account elements like firm measurement, funding rounds and time in enterprise. These could provide clues about whether or not these firms may change methods (and probably go away clients behind) or keep the course.

Brex is picky about its clients. It focuses on venture-backed startups and mid-market firms. (You possibly can view their necessities right here.) In the event you qualify, Brex is a superb selection. You’ll get free wires, plus some issues Mercury lacks — 24/7 telephone help and built-in journey reserving.

In the event you don’t qualify for Brex, Mercury gives an identical function set to a greater variety of customers. Buyer help is simply by way of e-mail, although.

Each Brex and Mercury have been based in 2017. Brex hasn’t raised a funding spherical since its Sequence B in 2021, whereas Mercury introduced its Sequence C in early 2025, in response to Crunchbase. A funding spherical usually means an organization needs to develop. Sequence C, particularly, can recommend an organization is on the brink of launch new merchandise, purchase different firms or search profitability.

Brex companions with Column, N.A., an FDIC-insured financial institution, for its checking account.

Considered one of Mercury’s key drawbacks is its email-only buyer help. In the event you favor speaking to somebody on the telephone, Rho makes that attainable 24/7. (I examined on-line enterprise financial institution accounts’ buyer help in early 2025, and Rho’s callback choice labored very properly.)

Apart from that, Rho and Mercury’s platforms look so much alike. Each provide checking accounts, financial savings accounts, treasuries and company playing cards. Each have free wire transfers and 1% charges on forex conversions. In the event you ever want money, Mercury permits ATM withdrawals; Rho doesn’t.

Rho was based a 12 months after Mercury, in 2018. It closed its Sequence B spherical in 2021, in response to Crunchbase. Like Brex, that will recommend Rho is targeted on buying clients proper now.

Rho companions with Webster Financial institution N.A., an FDIC-insured financial institution, for its checking account.

Relay is a fintech firm with a web-based banking platform properly suited to small and medium-sized firms. Generally, Relay is a more sensible choice than Mercury for Fundamental Road-based companies, because it helps money deposits.

Relay’s wire transfers aren’t free, however they’re cheaper than almost each competitor. Utilizing native cost networks, you’ll pay as much as simply $8 for outgoing home wires and $5 for outgoing worldwide wires.

Past that, Relay enables you to create as much as 20 enterprise checking accounts for various functions. In the event you’re loyal to the profit-first accounting methodology, that may embody revenue and proprietor’s pay, together with ongoing bills like payroll. And all customers get built-in expense administration instruments like receipt matching and expense categorization.

Relay was based in 2018 and held its most up-to-date funding spherical (Sequence B) in March 2024. Relay companions with Thread Financial institution, Member FDIC, for its banking providers.

Banking with a monetary expertise firm isn’t for everybody. In the event you’d reasonably work instantly with an FDIC-insured financial institution, take into account Grasshopper.

This online-only financial institution was based in 2019 and serves startups and small companies. You’ll get low-cost outgoing home wires ($10 every) and as much as $125 million in insured money sweep protection. Plus, Grasshopper gives telephone help on weekdays.

What Grasshopper lacks in comparison with Mercury: Simple wire transfers in currencies aside from USD. You’ll have to show to a distinct model for a company card, too.

Mercury’s instruments are greatest suited to fast-growing startups that steadily make giant transfers. If your corporation is smaller and its operations are easier, Bluevine’s enterprise checking account is probably going a greater match.

You’ll nonetheless get insured money sweep providers, free incoming wires and operator-friendly instruments like invoicing. Past that, Bluevine pays a aggressive APY in your checking steadiness — 1.50% or probably greater when you join a subscription plan. To earn yield with Mercury, you’ll should take the additional step of transferring funds into treasuries.

Bluevine companions with Coastal Neighborhood Financial institution, Member FDIC for banking providers.

Meow was based in 2021 and has solely raised its Sequence A spherical, in response to Crunchbase. That usually means a enterprise continues to be refining its product and discovering its customers.

In comparison with Mercury, Brex and Rho, Meow is at a a lot earlier stage in its progress. It’s additionally smaller. Its LinkedIn web page says it has 11 to 50 workers. That might imply main adjustments forward.

Meow might help with a few particular wants, although:

• If your corporation steadily wires cash in currencies aside from U.S. {dollars}: With Mercury, you’ll pay a flat 1% price on forex conversions. Meow, then again, works with a third-party service referred to as Airwallex. Alternate charges could be as little as 0.16% relying on the forex. 

• In the event you don’t wish to juggle accounts: Meow gives curiosity on its enterprise checking account steadiness, so that you don’t should open a second account to earn yield. Mercury customers should open a treasury account to earn yield.

Meow companions with Grasshopper Financial institution, N.A. for its banking providers. (Sure, that is the Grasshopper Financial institution listed above.)

Mercury is a well-liked platform with so much to supply. Nevertheless it falls brief in a pair key methods:

Mercury’s banking companions are underneath scrutiny. Mercury is a neobank that at present works with three FDIC-insured banks — Column N.A., Alternative Monetary Group and Evolve Financial institution & Belief — to carry buyer funds. The corporate introduced in March 2025 that it was ending its relationship with Evolve and would give clients the chance emigrate their accounts.

Federal regulators have issued enforcement actions to each Alternative and Evolve within the final two years. Such orders are comparatively uncommon and needs to be taken critically. (Financial institution failures are nonetheless a lot rarer, although.)

This doesn’t imply buyer funds aren’t protected. However when you financial institution with a fintech firm, you must know the place your funds are and really feel snug with all events concerned. In the event you’d reasonably work instantly with an FDIC-insured financial institution, not a fintech, take a look at Grasshopper’s accounts.

Its buyer help is missing. Mercury’s buyer help comes by way of e-mail. That’s not a deal-breaker for each consumer. However when you worth the power to choose up the telephone, discover Rho and Brex as a substitute.