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Mercury description
Mercury is a financial technology company offering banking and financial management tools specifically designed for startups. It provides FDIC-insured checking and savings accounts, credit cards, expense management, and integrations with accounting software. Mercury aims to simplify financial operations, offering a single platform for managing banking, expenses, invoicing, and bill payments. While not a bank itself, Mercury partners with established banks to provide these services.
What companies are using Mercury?
Who is using Mercury?
Who is Mercury best for
Mercury is tailored for startups, tech companies, freelancers, and solo founders. We find that users appreciate its user-friendly interface and efficient account setup. However, some users report issues with account closures and slow customer support, so keep that in mind!
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Great for startups & small to medium-sized businesses (1-1000 employees) seeking accessible financial tools.
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We see it as a fit for tech, e-commerce, and finance/banking/insurance companies looking to streamline their financial operations.
Mercury features
Supported Fast Online Application: Mercury offers online business banking application in 10 minutes, allowing startups and small businesses to quickly set up their banking services. |
Supported Single Dashboard Management: The platform provides a single dashboard for managing banking and financial operations, streamlining financial workflows for users. |
Supported Seamless Payment Processing: Mercury facilitates seamless sending and receiving of payments, including free USD wires and auto-transfer rules, simplifying payment processes. |
Supported Checking & Savings Accounts: Mercury provides Checking & Savings accounts to manage business finances effectively. |
Supported Credit Cards with Cashback: Mercury offers access to credit cards with industry-low deposit minimums and unlimited 1.5% cashback on all spend, providing accessible and rewarding credit solutions. |
Supported Enhanced FDIC Insurance: The platform uses FDIC insurance through partner banks and sweep networks, offering up to 20x the industry standard in insurance coverage for deposited funds. |
Supported Fraud Monitoring & Security: Mercury provides fraud monitoring tools and account security protocols to safeguard business finances. |
Supported AI-Powered Bill Pay: Mercury provides Bill Pay feature which includes AI-powered bill details, multi-layered approvals, duplicate bill detection. |
We evaluate the sentiment that users express about non-functional aspects of the software
Value and Pricing Transparency
Customer Service
Ease of Use
Reliability and Performance
Ease of Implementation
Mercury reviews
We've summarised 160 Mercury reviews (Mercury TrustPilot reviews and Mercury G2 reviews) and summarised the main points below.
- User-friendly interface and easy navigation on both web and mobile app
- Simple and efficient account setup process
- Free international and domestic wire transfers
- Virtual card creation and management
- Multiple account creation for better financial organization
- Account closures without clear explanations or communication
- Unacceptable delays in customer support responses, sometimes taking days
- Slow processing times for transfers and check deposits (7-10 business days)
- Inconsistent application of compliance rules and requirements
- Lack of transparency regarding compliance and account closure reasons
Mercury pricing
The commentary is based on 38 reviews from Mercury G2 reviews and Mercury TrustPilot reviews.
We find that Mercury is generally considered a cost-effective option, with many users appreciating its free transfers, lack of monthly fees, and low or no minimum balance requirements. Some users, however, have mentioned issues with credit card cashback being low and deposit interest rates requiring high balances.
Users sentiment
See the Mercury pricing page.
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Mercury has a free plan.
Powerful business banking and finance essentials.
Everything Mercury offers, with more reimbursements and invoicing power.
Everything Mercury Plus offers, with advanced workflows and dedicated support.
Mercury alternatives
Mercury FAQ
We find that Mercury offers banking services tailored to startups, including accounts, payments, and expense management tools. It integrates with accounting software and aims to simplify financial operations through a single platform. We've also observed they partner with established banks to provide FDIC-insured services.
What is Mercury and what does Mercury do?
We find that Mercury offers banking services tailored to startups, including accounts, payments, and expense management tools. It integrates with accounting software and aims to simplify financial operations through a single platform. We've also observed they partner with established banks to provide FDIC-insured services.
We find that Mercury integrates with accounting software to streamline financial operations. It also supports payment processing for seamless sending and receiving of payments. More specific integrations are not available in the provided data.
How does Mercury integrate with other tools?
We find that Mercury integrates with accounting software to streamline financial operations. It also supports payment processing for seamless sending and receiving of payments. More specific integrations are not available in the provided data.
We find that Mercury's main competitors include Rho, Ramp, and Brex, all offering similar financial management solutions for businesses. While Rydoo focuses on expense management and Taktile on automated financial decisions, they could be considered alternatives depending on specific needs.
What the main competitors of Mercury?
We find that Mercury's main competitors include Rho, Ramp, and Brex, all offering similar financial management solutions for businesses. While Rydoo focuses on expense management and Taktile on automated financial decisions, they could be considered alternatives depending on specific needs.
In our experience, Mercury can be a legitimate option for startups seeking modern banking solutions. However, we've also observed some negative feedback regarding customer service and reliability. Potential users should carefully weigh these factors against the platform's benefits.
Is Mercury legit?
In our experience, Mercury can be a legitimate option for startups seeking modern banking solutions. However, we've also observed some negative feedback regarding customer service and reliability. Potential users should carefully weigh these factors against the platform's benefits.
Mercury offers a free plan. Mercury Plus is $35/month, while Mercury Pro is $350/month. We find that the free plan is suitable for most businesses starting out. Several add-ons are also available but pricing is not readily available.
How much does Mercury cost?
Mercury offers a free plan. Mercury Plus is $35/month, while Mercury Pro is $350/month. We find that the free plan is suitable for most businesses starting out. Several add-ons are also available but pricing is not readily available.
We find that Mercury's customer service is a significant pain point. While some users report positive experiences, many others express frustration with slow response times, unhelpful support agents, and a lack of clear communication, especially regarding account closures and compliance issues.
Is Mercury customer service good?
We find that Mercury's customer service is a significant pain point. While some users report positive experiences, many others express frustration with slow response times, unhelpful support agents, and a lack of clear communication, especially regarding account closures and compliance issues.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.
An AI tool that observes your work, finds inefficiencies, and suggests smarter ways to do things. Maybe you can use your tools better, automate tasks, or switch software.