If you’re the owner of a small, local business, Mercury’s no-frills banking product could work well for your needs. But if you’re looking to scale globally and improve your financial processes, you may need to consider a Mercury alternative. Here’s why.

Scalability limitations

Your banking solution should provide more than just basic checking services. You need a solution that can help you grow your cash, maintain your liquidity, and increase your spending power.

Unfortunately, Mercury falls short in several of these areas. For instance, you can't earn interest with Mercury's standard checking accounts. To even be considered for an interest-bearing Mercury Treasury account, you must have a minimum of $500,000 stored with Mercury. Even then, you can’t access Mercury’s advertised 5.3% yield unless you have at least $20 million deposited.

For growing companies, earning interest on idle cash is not just a nice-to-have — it's a necessity. A fruitful cash strategy extends your runway, provides a cushion for unexpected expenses, and can even fund small projects or hires. Otherwise, you're essentially leaving money on the table.

Some companies might consider keeping their cash in a separate high-yield savings account (HYSA) and transferring it to their Mercury account as needed. However, this approach is inefficient and can lead to issues. Managing multiple accounts increases the risk of errors, complicates bookkeeping, and can result in cash flow problems if transfers aren't timed correctly. It's far more efficient and secure to have your checking and treasury services in one place, allowing for a holistic view of your finances.

If you’re also looking for a high-limit business credit card from your banking partner, you’ll probably want to explore alternatives to Mercury. If you use the Mercury IO credit card, your credit limit is determined by your Mercury account balance. Other Mercury competitors are more founder-friendly. The Brex card, for instance, considers your company's spending patterns and revenue streams along with your cash balance when determining your limits. This underwriting method allows Brex to offer card limits that are 10-20x higher than traditional cards — and up to 40x higher when paired with a Brex startup bank account.

Global limitations

It’s best practice to work with a financial partner that supports international operations — even if your company hasn’t gone global just yet. Chances are, you’re paying vendors and contractors overseas, and you need a solution that makes it easy and cost-efficient.

Mercury customers have to pay a 1% exchange fee every time they send a non-USD wire. And Mercury’s money transfer and currency exchange platform, Mercury FX, only allows users to exchange around 20 currencies.

The Mercury IO card doesn't support local issuance in multiple currencies, which can lead to unnecessary foreign transaction fees and potential declines when used abroad. This limitation can be particularly frustrating for companies with international employees or those frequently engaging in cross-border transactions.

A truly global card solution should allow for issuance in multiple currencies and support spending in numerous countries without additional fees. Ideally, you’ll want a Mercury alternative that enables easy management of multi-currency accounts and international transfers.

For businesses with global aspirations or operations, these limitations can result in increased costs, operational inefficiencies, and missed opportunities.

Limited integrations

Mercury might not offer direct integrations with all of your existing accounting, ERP, and HRIS platforms. The integrations they do offer will cost you extra to unlock additional features.

You can’t access Mercury’s “enriched” NetSuite, QuickBooks Online, and Xero integrations unless you pay an additional $350/month for Mercury’s Pro Plan. Even with the premium plans, there are additional fees for basic functions. Want to automate your bill pay with QBO? That’ll cost an additional $2 per payment.

A modern financial partner will offer robust integrations without saddling you with hidden fees. These integrations can improve your financial operations, provide valuable insights, and save countless hours by automating tedious tasks.

For instance, a tight integration with your ERP can automate transaction syncing, dramatically reducing the time needed for monthly reconciliations and accelerating your financial close process. This not only saves time but also improves accuracy by eliminating manual data entry errors. Similarly, integrations with your HRIS can automate payroll processes, simplify expense management for employees, and provide a more holistic view of your company's finances.

Weak integrations, on the other hand, can cause a ripple effect of problems throughout your business. When expenses aren’t automatically reflected in your general ledger, you risk creating a financial blind spot. This can lead to delayed or inaccurate financial reporting, making it difficult to make timely, data-driven decisions. It can also complicate audit processes and increase the risk of compliance issues.

As your business grows and your financial processes become more complex, Mercury's integration limitations may become increasingly apparent. A banking solution with a robust ecosystem of integrations can grow with you, continually adding value as your needs evolve.

Customer support concerns

For growing businesses, quality customer support is a necessity. If you want quick responses and expert-level help, you may want to seek out alternatives to Mercury.

Mercury doesn’t offer customer support over the phone — only email or in-app chat support. And when customers email for help, they can be left waiting hours or even days for a response. Mercury’s chat support isn’t much better. Complex issues have to be escalated to more experienced senior agents, which means waiting a long time for a resolution.

While email support can be sufficient for non-urgent matters, it's inadequate for time-sensitive financial issues that require immediate attention. If your business is facing a critical payment delay or a potential fraud issue, you can’t afford to sit in a support queue.

For global businesses, financial operations don't stop at the end of the U.S. business day, so neither should your ability to get answers when you need them. A financial platform that offers round-the-clock help via multiple channels — including phone, chat, and email — can support your business wherever and whenever you operate.

By carefully considering these factors and exploring the alternatives below, you can find the right banking option for your business.

Brex is a startup banking solution built on an AI-powered spend management platform. With a deep connection to the startup community, Brex is a true financial partner, offering a full financial stack that scales with you, from early-stage startup to Fortune 500. Unlike Mercury and most Mercury alternatives, Brex provides a unified solution that includes global corporate cards, expense management, bill pay, travel booking, and high-yield treasury and business banking. This integrated approach allows companies to optimize their spending, automate tedious processes, and fuel their growth with real-time financial insights.

What sets Brex apart is its ability to help businesses make every dollar count. With industry-leading yield on cash from day one, no minimum balance requirements, and up to $6 million in FDIC insurance, Brex ensures that your money is both working hard and staying protected. The platform's AI-powered automation streamlines expense management, while its global capabilities support businesses operating across borders.

Brex enables companies to increase their spending power, gain more control over their finances, and simplify their operations, to support growth at every stage.

Key features

• Industry-leading yield: Brex offers high yield on your cash from day one, with no minimum balance requirements or waiting periods. This allows startups to maximize their earnings on idle cash while maintaining 100% liquidity (you can transfer or withdraw invested funds at any time). Unlike traditional banks or some fintech alternatives, Brex's yield is immediately accessible with no hidden fees or restrictions — a major plus for startups looking to extend their runway.

• Integrated spend management: Mercury offers some banking services and a basic corporate charge card. Brex offers a comprehensive financial stack that goes beyond basic banking with corporate cards, expense management, treasury, bill pay, travel booking, and reimbursements all in one scalable solution. This integrated approach allows businesses to manage all aspects of their finances in a single spend management platform, eliminating the need for multiple disjointed services. With Brex, companies can increase their efficiency, improve their financial operations, and gain spend visibility for better decision making.

• Security and fraud prevention: Brex uses real-time expense tracking and AI to automatically flag unusual or suspicious transactions. And Brex cards are backed by Mastercard ID Theft Protection™, which provides 24/7 fraud monitoring and Zero Liability coverage. Additionally, Brex offers customizable controls that allow finance teams to set spend limits and restrictions at the category, merchant, and transaction level. These multi-layered security features give startups peace of mind and protect their financial assets.

• Up to $6M in FDIC insurance: Many banks and fintech platforms offer $250,000 in FDIC coverage. But Brex diversifies funds across 20+ program banks, reducing institutional risk. With Brex, companies get up to $6 million in FDIC insurance, more than Mercury and other Mercury competitors. This level of protection is particularly valuable for startups that have recently raised capital or have substantial cash reserves.

• 24/7 support: Brex is easy to use, so customers rarely run into issues. But, for when questions arise, Brex provides 24/7 customer support via live chat, phone, email, and WhatsApp.

• Global, multi-currency payments: Brex supports spending in 40 currencies via physical and virtual credit cards, checks, wires, and ACH. With Brex, businesses can issue cards in local currencies, create localized spend limits, and close books across entities — all from one central dashboard. This global functionality is particularly useful for startups with international operations or aspirations, as it simplifies cross-border transactions and eliminates costly foreign exchange (FX) fees.

• AI-powered automation: Brex leverages artificial intelligence to improve financial operations across the board. Bill pay automates the entire accounts payable process, from invoice capture to reconciliation. And, with customizable approval flows, you can automatically route invoices to the right approvers based on customizable rules, ensuring compliance while accelerating the payment cycle. Brex also eliminates the need for traditional expense reports by auto-generating receipts for thousands of merchants, along with pre-populated memos and categories, which expedites accounting workflows.

• Direct integrations: Brex was named NetSuite's 2023 Partner of the Year for its deep integration with the leading ERP. Beyond that, Brex also offers direct integrations with thousands of leading accounting, ERP, and HRIS platforms to help you boost efficiency and manage your business with ease.

• In-app travel booking and management: Brex provides a comprehensive travel and expense (T&E) solution built directly into its mobile app. Employees can easily book flights, hotels, and rental cars, and modify itineraries as needed — all with the same user-friendly experience of a consumer travel app. Brex also enforces company travel policies at the time of booking, keeping everyone compliant and on budget automatically.

Why people prefer Brex over Mercury

Companies often choose Brex over Mercury for its ability to help them optimize cash flow and improve working capital. While Mercury offers basic banking services, Brex provides a full financial stack that grows with your business. This allows companies to manage all aspects of their finances in one place, from high-yield checking to expense management and global payments.

"Our Brex business account allows us to generate yield on our cash through a money market fund while seamlessly processing wires and ACH transactions. It's the best of both worlds," said John Melas-Kyriazi, Co-Founder & CEO of Standard Metrics.

Unlike Mercury, Brex doesn't impose minimum balance requirements or waiting periods for treasury access. This means companies can start earning yield on their cash much sooner, taking full advantage of the power of compound interest. By allowing businesses to maximize their earnings from day one, Brex helps startups and growing companies extend their runway and make the most of their available capital. Brex's global capabilities far exceed those of Mercury, making it an ideal choice for companies with international operations or aspirations. With support for 40+ currencies, local card issuance, and seamless multi-entity management, Brex eliminates the headaches of cross-border finance that Mercury users often face.

Companies also choose Brex over Mercury for its superior customer support — available 24/7 via multiple channels, including phone.

Brex vs Mercury

Pricing

Brex offers a range of flexible pricing options designed to accommodate businesses at various stages of growth. The Brex Essentials plan is free, providing startups and small businesses with access to robust business banking, high-yield treasury, global corporate cards, bill pay, and basic expense management.

For businesses seeking more advanced features, Brex offers Premium and Enterprise plans. The Premium plan, priced at $12 per user/ month, unlocks additional capabilities such as customizable expense policies, in-app travel booking, and enhanced reporting. For larger organizations with complex needs, the Enterprise plan provides tailored solutions, including multi-entity support, advanced roles and permissions, and dedicated account management.

While Mercury charges hidden fees for moving money internationally, Brex maintains transparency in its pricing structure, with no hidden fees. And Brex has no transaction fees on Treasury deposits and withdrawals, so you can move your money freely without concern.

Rho is a fintech company that primarily caters to small business owners. It offers a combination of banking services, corporate cards, and basic expense management tools. While Rho provides some features for cash flow management, its capabilities are limited for rapidly growing or larger businesses.

Key features

• Physical and virtual cards

• Up to $250K in FDIC insurance for regular accounts

• Basic expense management

• Integrations with select software partners

Why people prefer Rho over Mercury

Rho offers better customer support than Mercury with live help available via chat and phone. Customers can reach a Rho specialist 7 days a week, but only from 8 am to 9 pm EST. That’s better than most Mercury competitors, though Brex is the only one with 24/7 customer support.

Pricing

Rho does not charge per product or per user. Instead, Rho makes most of its money from interchange fees.

The Rho pricing model can be advantageous for small, local businesses with limited transaction volume. But for scaling companies making lots of payments and transactions, Rho can get expensive.

Novo is a digital banking platform for small businesses and entrepreneurs. It offers basic checking account services and debit cards, plus integrations with some payment processing platforms. Novo does not provide the expense management tools or global banking capabilities that scaling companies need, but its simplicity may appeal to small business owners.

Key features

• Online banking

• Business debit cards

• Basic business invoicing software

• Discounts on services with select partners

Why people prefer Novo over Mercury

Users generally prefer Novo’s user-friendly interface to Mercury’s complicated UI. Novo also offers customer support over the phone and better implementation support than Mercury with live online help. It’s also worth noting that Novo integrates with Google Sheets while Mercury does not. The ideal financial partner, however, will enable you to manage spend within one platform so you don’t have to deal with scores of spreadsheets.

Pricing

Novo doesn’t charge monthly fees for its basic business banking account. However, there are other fees to be aware of, including a 1.5% surcharge on same-day ACH payments. Novo also charges for additional add-ons like its payroll solution, which costs an extra $35/month.

Relay Financial is a banking and money management platform for small to medium-sized businesses with up to 100 employees. It offers features like multiple checking accounts, team debit cards, and some basic automation tools. However, like other Mercury competitors, Relay lacks features that can enable fast international payments or minimize costly FX fees.

Key features

• Physical and virtual debit cards

• Basic receipt capture

• Accounting software integrations

• Savings accounts with 1-3% APY

Why people prefer Relay Financial over Mercury

Relay Financial customers can earn 1-3% APY with a savings account. Mercury accounts do not yield interest for customers who have less than $500,000 deposited.

Pricing

Relay offers two separate pricing plans — Relay and Relay Pro. The regular Relay plan is free for SMBs and includes the ability to hold two savings accounts. Relay Pro, which includes “faster” ACH transfers and outgoing wires, starts at $30/month.

Silicon Valley Bank (SVB) was founded in 1983 as a banking solution for startup companies. Eventually, SVB grew into one of the 20 largest commercial banks in the US with more than $200 billion in total assets. In March of 2023, SVB collapsed and it was acquired by First Citizens Bank.

Key features

• Free checking

• Physical and virtual cards

• Online account management

• Remote check deposit

Why people prefer Silicon Valley Bank over Mercury

Some SVB customers opened accounts with Mercury after SVB’s collapse in March 2023. Since then, however, Silicon Valley Bank has been acquired by First Citizens Bank. This acquisition has restored some confidence in SVB, as First Citizens Bank brings stability and a long history of traditional banking services.

Pricing

Pricing for business accounts varies on a client-by-client basis. SVB charges for services ranging from basic account maintenance to bill pay. Notable fees include a $1,000 implementation fee for bill pay and wire transfer fees — $10 for incoming, $12 for outgoing domestic wires, and $25 for outgoing international wires. These fees and charges are subject to change and may be offset by account balances.

Similar to some of the other Mercury competitors, Grasshopper Bank is an online-only bank that aims to serve entrepreneurs and small businesses. Its primary offering is a business checking account that comes with a modest APY of 1.51% to 2.25%. Grasshopper also offers debit cards, but does not offer credit cards or any other spend management products to support growing businesses.

Key features

• Interest-bearing accounts

• Debit cards with cash-back rewards

• FDIC-insured deposits

• Online bank account management

Why people prefer Grasshopper Bank over Mercury

Grasshopper Bank is partnered with the MoneyPass and SUM ATM networks, giving customers fee-free access to over 45,000 ATMs. That’s a plus for local business owners who frequently deal in physical cash.

Similar to Mercury, ​​Grasshopper Bank does not have 24/7 customer service. But you can reach Grasshopper’s customer service over the phone from 9 am to 9 pm ET Monday-Friday.

Pricing

Small business owners can open a Grasshopper bank account with a minimum deposit of $100. Once the account is open, there are no minimum balance requirements.

Chase Business Banking is the small business arm of JPMorgan Chase, one of the largest banks in the United States. It offers a wide range of traditional banking services, including checking accounts, credit cards, and loans. However, Chase's business banking solutions come with higher fees and more stringent requirements than modern alternatives. Even with its focus on small businesses, Chase Business Banking offers few real benefits for startups.

Key features

• Fraud protection services

• Mobile check deposit

• Chase Online Bill Pay

• Mobile banking via the Chase Mobile® app

Why people prefer Chase Business Banking over Mercury

People prefer Chase Business Banking over Mercury for its faster check depositing. With Chase, deposits received by 11 pm EST are generally processed on the same business day.

However, with Mercury, all checks are manually reviewed. Once approved, the deposit can take up to 7 business days to post.

Pricing

There’s no minimum opening deposit, but Chase charges $15/month for its Business Complete Banking. They’ll waive the monthly fee with $2,000 minimum balance, $2,000 in deposits, or making $2,000 in purchases with a Chase Ink Business credit card.

Chase also offers unlimited fee-free electronic transactions. However, you’ll get charged a $0.40 fee per transaction after your first 20 monthly transactions if you make deposits or withdraw funds with a teller or paper checks.

Choosing the right financial partner is critical for startup success, especially in today's uncertain macro where cash management can make or break a company.

Some neobanks like Mercury may offer basic services, but they don’t give businesses the tools they need to optimize their cash flow and extend their runway. Your cash won’t grow meaningfully if it's sitting in a low-interest-bearing account. And Mercury’s hidden fees will only eat into your cash reserves.

The ideal financial partner should do more than just park your money. It should help you grow your cash while maintaining liquidity, increase spending power, and provide real-time insights into your financial health. That’s why Brex is the best Mercury alternative.

There are multiple reasons that one in three venture-backed startups chooses Brex as its financial partner.

Brex can offer credit card limits that are 10-20x higher than traditional cards due to its business-based underwriting. This increased spending power can be crucial for startups needing to make large purchases or manage cash flow during growth phases. Plus, Brex cards offer multipliers that help startups accrue rewards faster and redeem points for business-building benefits, like billboards, executive coaching, and team offsites.

Brex’s full suite of financial tools — high-yield business accounts, expense management, bill pay, global cards, and travel booking all in one intuitive platform — means startups can start with the products they need now and add others as they scale. Brex is easy to use, and you can reach Brex support 24/7 should you have questions.

Brex supports spending in 40+ currencies and offers local card issuance, supporting businesses with international operations or aspirations. Unlike Mercury's high thresholds for accessing competitive rates, Brex offers industry-leading yield from day one — with no minimum balance requirements — and keeps your cash secure with up to $6 million in FDIC insurance. Plus, with AI-powered fraud detection across all your spend, Brex gives you peace of mind that Mercury can't match.

Plus, Brex integrates with your existing accounting, ERP, and HRIS platforms at no added cost, driving operational efficiency across your key workflows.

By choosing Brex, startups and growing businesses can access a scalable financial solution that evolves with their needs, from early stages to the enterprise level. It's not just about banking; it's about having a financial partner that actively helps you optimize your cash flow, extend your runway, and fuel your growth.

Ready to make every dollar count? Get a demo today and see how Brex can help you optimize your cash flow and fuel your growth.