Mercury Alternatives for Startups and Small-Business Banking
Brex, Rho, Grasshopper and Bluevine offer digital banking services that may be better options for some businesses.
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Published · 4 min read
Written by
Lead Writer & Content Strategist 
Edited by
Managing Editor Mercury is a major player in the startup banking space. But a few other banks and fintech companies offer excellent business checking accounts worth a look.
Some platforms on this list — Brex, Rho and Meow — look a lot like Mercury. They have polished websites, few required fees and even similar features, like free wire transfers. They aim to serve the same startup audience.
Others, like Bluevine and Relay, may be better for smaller companies without outside investors.
Most of these companies are also startups themselves. You can't evaluate them solely by feature set. Instead, consider factors like company size, funding rounds and time in business. Those may offer clues about whether these companies might change strategies (and potentially leave customers behind) or stay the course.
» MORE: Read our full review of Mercury
Brex
Brex is choosy about its customers. It focuses on venture-backed startups and mid-market companies. (You can view their requirements here.) If you qualify, Brex is a great choice. You’ll still get free wires, plus some things Mercury lacks — built-in travel booking and 24/7 phone support.
Other than that, the platforms have a lot in common. Mercury users can call customer support on weekdays from 6 a.m. to 5:30 p.m. PST and access email support.
Both Brex and Mercury were founded in 2017. Brex hasn’t raised a funding round since its Series B in 2021, while Mercury announced its Series C in early 2025, according to Crunchbase. A funding round generally means a company wants to grow. Series C, specifically, can suggest a company is getting ready to launch new products, acquire other companies or seek profitability.
Brex partners with Column, N.A., an FDIC-insured bank, for its checking account.
Features head to head: Mercury vs. Brex
| Mercury | Brex | |
| Free wire transfers | Yes. | Yes. |
| Customer support | Via phone from 6 a.m. to 5:30 p.m. PST on weekdays. Email support is also available. | 24/7 via phone, SMS, email or live chat. |
| Check deposit hold times | Checks are manually reviewed. Once approved, funds can take up to 5 business days to clear. | Checks usually clear 2-5 business days after deposit. |
| Built-in corporate card with spend management tools | Yes. | Yes. |
| Insured cash sweep on certain accounts | Yes, up to $5 million. | Yes, up to $6 million. |
| Currency exchange fees | All customers pay a 1% exchange fee to send international wires in non-USD currencies. Only Mercury customers on partner banks Column N.A. and Choice Financial Group can receive wires in foreign currencies. | All customers pay a 1% exchange fee to send international wires in non-USD currencies. |
Rho
Like Brex, Rho offers 24/7 customer support. (I tested online business bank accounts’ customer support in early 2025, and Rho’s callback option worked very well.)
Other than that, Rho and Mercury’s platforms look a lot alike. Both offer checking accounts, savings accounts, treasuries and corporate cards. Both have free wire transfers and 1% fees on currency conversions. If you ever need cash, Mercury allows ATM withdrawals; Rho doesn’t.
Rho was founded a year after Mercury, in 2018. It closed its Series B round in 2021, according to Crunchbase. Like Brex, that may suggest Rho is focused on acquiring customers right now.
Rho partners with Webster Bank N.A., an FDIC-insured bank, for its checking account.
Features head to head: Mercury vs. Rho
| Mercury | Rho | |
| Free wire transfers | Yes. | Yes. |
| Customer support | Via phone from 6 a.m. to 5:30 p.m. PST on weekdays. Email support is also available. | 24/7 via phone, email or live chat. |
| Check deposit hold times | Checks are manually reviewed. Once approved, funds can take up to 5 business days to clear. | 3-7 business days depending on risk-based monitoring. |
| Built-in corporate card with spend management tools | Yes. | Yes. |
| Insured cash sweep on certain accounts | Yes, up to $5 million. | Yes, up to $75 million. |
| Currency exchange fees | All customers pay a 1% exchange fee to send international wires in non-USD currencies. Only Mercury customers on partner banks Column N.A. and Choice Financial Group can receive wires in foreign currencies. | All customers pay a 1% exchange fee to send international wires in non-USD currencies. |
Relay
Relay Relay Business Checking
Monthly Fee
$0 Relay is a fintech company with an online banking platform well suited to small and medium-sized companies. Relay supports cash deposits, which may make it a better choice for companies that do business in person.
Relay’s wire transfers aren’t free, but they’re cheaper than nearly every competitor. Using local payment networks, you’ll pay up to just $8 for outgoing domestic wires and $5 for outgoing international wires.
Beyond that, Relay lets you create up to 20 business checking accounts for different purposes. If you’re loyal to the profit-first accounting method, that can include profit and owner’s pay, along with ongoing expenses like payroll. And all users get built-in expense management tools like receipt matching and expense categorization.
Relay was founded in 2018 and held its most recent funding round (Series B) in March 2024. Relay partners with Thread Bank, Member FDIC, for its banking services.
Features head to head: Mercury vs. Relay
| Mercury | Relay | |
| Free wire transfers | Yes. | Incoming wires are generally free. Outgoing domestic wires are $5 or $8 depending on your Relay subscription plan. Outgoing international wires cost $1.50-$5 if you use a local payment network or $20 or $25 if you use the SWIFT network. |
| Customer support | Via phone from 6 a.m. to 5:30 p.m. PST on weekdays. Email support is also available. | Via phone from 9 a.m. - 8 p.m. EST on weekdays. Virtual support is also available. |
| Check deposit hold times | Checks are manually reviewed. Once approved, funds can take up to 5 business days to clear. | Up to 7 business days. |
| Built-in corporate card with spend management tools | Yes. | Available to existing Relay customers by invitation only. |
| Insured cash sweep on certain accounts | Yes, up to $5 million. | Yes, up to $3 million. |
| Currency exchange fees | All customers pay a 1% exchange fee to send international wires in non-USD currencies. Only Mercury customers on partner banks Column N.A. and Choice Financial Group can receive wires in foreign currencies. | Currency exchange fees on non-USD wires start at 1%. |
Grasshopper
Grasshopper Bank Grasshopper Innovator Business Checking Account
Monthly Fee
$0 Banking with a financial technology company isn’t for everyone. If you’d rather work directly with an FDIC-insured bank, consider Grasshopper.
This online-only bank was founded in 2019 and serves startups and small businesses. You’ll get low-cost outgoing domestic wires ($10 each) and up to $125 million in insured cash sweep coverage. Plus, Grasshopper offers phone support on weekdays.
What Grasshopper lacks compared to Mercury: Easy wire transfers in currencies other than USD. You’ll have to turn to a different brand for a corporate card, too.
Features head to head: Mercury vs. Grasshopper
| Mercury | Grasshopper | |
| Free wire transfers | Yes. | Incoming domestic wires are free. Incoming international wires cost $5. Outgoing domestic wires cost $10 and outgoing international wires cost $25. |
| Customer support | Via phone from 6 a.m. to 5:30 p.m. PST on weekdays. Email support is also available. | Via phone from 9 a.m. - 9 p.m. EST on weekdays. Chat and email support are also available. |
| Check deposit hold times | Checks are manually reviewed. Once approved, funds can take up to 5 business days to clear. | Some of the deposit amount may be available the next business day. The remainder may take up to 7 business days. |
| Built-in corporate card with spend management tools | Yes. | No. |
| Insured cash sweep on certain accounts | Yes, up to $5 million. | Yes, up to $125 million. |
| Currency exchange fees | All customers pay a 1% exchange fee to send international wires in non-USD currencies. Only Mercury customers on partner banks Column N.A. and Choice Financial Group can receive wires in foreign currencies. | To send a wire in a currency other than USD, Grasshopper accountholders need to contact client services. |
Bluevine
Bluevine Bluevine Business Checking
Monthly Fee
$0 Mercury’s tools are best suited to fast-growing startups that frequently make large transfers. If your business is smaller and its operations are simpler, Bluevine’s business checking account may be easier to navigate.
You’ll still get insured cash sweep services, free incoming wires and operator-friendly tools like invoicing. Beyond that, Bluevine pays a competitive APY on your checking balance — 1.50% or potentially higher if you sign up for a subscription plan. To earn yield with Mercury, you’ll have to take the extra step of moving funds into treasuries.
Bluevine partners with Coastal Community Bank, Member FDIC, for banking services.
Features head to head: Mercury vs. Bluevine
| Mercury | Bluevine | |
| Free wire transfers | Yes. | Incoming wires are free. Outgoing domestic wires range from $7.50 to $15 depending on your Bluevine subscription plan. Outgoing international wires range from $12.50 to $25. |
| Customer support | Via phone from 6 a.m. to 5:30 p.m. PST on weekdays. Email support is also available. | Via phone from 8 a.m . - 8 p.m. EST on weekdays. Email and chat support are also available. |
| Check deposit hold times | Checks are manually reviewed. Once approved, funds can take up to 5 business days to clear. | Same or next business day. If a hold is placed on the check, 3 to 6 business days. |
| Built-in corporate card with spend management tools | Yes. | No. (A business credit card is available to certain customers by invite only.) |
| Insured cash sweep on certain accounts | Yes, up to $5 million. | Yes, up to $3 million. |
| Currency exchange fees | All customers pay a 1% exchange fee to send international wires in non-USD currencies. Only Mercury customers on partner banks Column N.A. and Choice Financial Group can receive wires in foreign currencies. | Bluevine charges 1% to 1.5%, depending on your subscription plan, to send wires in currency other than USD. |
Meow
Meow was founded in 2021 and has only raised its Series A round, according to Crunchbase. That generally means a business is still refining its product and finding its users.
Compared to Mercury, Brex and Rho, Meow is at a much earlier stage in its growth. It’s also smaller. Its LinkedIn page says it has 11 to 50 employees. That could mean major changes ahead.
Meow can help with a couple of specific needs, though:
- If your business frequently wires money in currencies other than U.S. dollars: With Mercury, you’ll pay a flat 1% fee on currency conversions. Meow, on the other hand, works with a third-party service called Airwallex. Exchange fees can be as low as 0.16% depending on the currency.
- If you don’t want to juggle accounts: Meow offers interest on its business checking account balance, so you don’t have to open a second account to earn yield. Mercury users have to open a treasury account to earn yield.
Meow partners with Grasshopper Bank, N.A. for its banking services. (Yes, that's the Grasshopper Bank listed above.)
Features head to head: Mercury vs. Meow
| Mercury | Meow | |
| Free wire transfers | Yes. | Yes. |
| Customer support | Via phone from 6 a.m. to 5:30 p.m. PST on weekdays. Email support is also available. | Via email or Meow's app. |
| Check deposit hold times | Checks are manually reviewed. Once approved, funds can take up to 5 business days to clear. | Five days or more. |
| Built-in corporate card with spend management tools | Yes. | Yes. |
| Insured cash sweep on certain accounts | Yes, up to $5 million. | Yes, up to $125 million. |
| Currency exchange fees | All customers pay a 1% exchange fee to send international wires in non-USD currencies. Only Mercury customers on partner banks Column N.A. and Choice Financial Group can receive wires in foreign currencies. | Conversions offered by Airwallex, a third-party service. Exchange fees range from 0.16% to 1%. For automatic conversion of card purchases, Airwallex charges 1%. |
Who should consider alternatives to Mercury?
Mercury is a popular platform with a lot to offer. But it may not be a fit in the following cases:
If you're skeptical about fintech companies. Mercury is a neobank that currently works with three FDIC-insured banks — Column N.A., Choice Financial Group and Evolve Bank & Trust — to hold customer funds. The company announced in March 2025 that it was ending its relationship with Evolve and would give customers the opportunity to migrate their accounts.
Federal regulators have issued enforcement actions to both Choice and Evolve in the last two years. Such orders are relatively rare and should be taken seriously. Bank failures are still much rarer, though.
This doesn’t mean customer funds aren’t safe. But if you bank with a fintech company, you should know where your funds are and feel comfortable with all parties involved. (Entrepreneurs considering Relay should note that Relay's partner bank, Thread Bank N.A., also received an FDIC consent order in 2024.)
If you’d rather work directly with an FDIC-insured bank, not a fintech, look at Grasshopper’s accounts.
» MORE: What happens if a neobank fails?
If you want 24/7 customer support. Mercury customers are encouraged to fill out an online form to contact support and call for urgent issues. That may be plenty for your business. But if you value the ability to pick up the phone 24/7, explore Rho and Brex instead.
If your company handles cash. Mercury was designed with digital-first startups in mind, though it's expanded to serve Main Street by adding features like ATM withdrawals. But fintech companies like Relay and Bluevine support cash deposits, which you'll need if you have customers who pay cash.
Relay is a financial technology company, not a bank. Banking services provided by Thread Bank, Member FDIC. The Relay Visa Debit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted.
Article sources
NerdWallet writers are subject matter authorities who use primary,
trustworthy sources to inform their work, including peer-reviewed
studies, government websites, academic research and interviews with
industry experts. All content is fact-checked for accuracy,
timeliness and relevance. You can learn more about NerdWallet's
high standards for journalism by reading our
editorial guidelines.
Methodology
NerdWallet evaluates more than 30 business bank accounts from national, regional and online banks. Collectively, these accounts represent the largest banks by assets, internet search traffic and other factors, along with notable or emerging players in the industry.
We consider more than 20 data points for each account, scoring them on fees, perks and accessibility, among other factors. This information is gathered from each financial institution's website and company representatives. In addition, data is collected regularly and reviewed by our editorial team for consistency and accuracy.
Final star ratings are presented on a scale of one to five stars, where a one-star score represents "poor" and a five-star score represents "excellent." Learn more about how we rate business checking accounts.
