Mercury for Startups 2026: Plans, Fees and Treasury Yield (Free, Plus $35, Pro $350)
Mercury costs most startups nothing. The account is free, with no monthly fee, no minimum balance and $0 for ACH, domestic wires, USD international wires and checks. The two paid plans, Plus ($35 a month, or $29.90 billed annually) and Pro ($350, or $299), add invoicing, NetSuite and support features, not cheaper banking. The real costs are foreign exchange (1% on non-USD wires, 3% on non-USD card spend) and the 0.15% to 0.60% fee on Mercury Treasury, which is already taken out of the yield Mercury quotes. Mercury fits a US-incorporated SaaS company from pre-seed to Series A that pays mostly in dollars. If you pay a lot of people or vendors in other currencies, or your founders live outside the US, read the FX and eligibility sections first.
Mercury's published prices
| Plan | Price (monthly / billed yearly) | For / limits |
|---|---|---|
| Mercury | $0/mo | 'Powerful banking and finance essentials included with every account': checking and savings, free ACH, domestic and USD international wires, RTP, checks, debit cards, IO card, bill pay, invoicing, QuickBooks/Xero sync; Reimbursements for up to 5 active users per month (pricing FAQ: paid plan needed for 'reimbursing out-of-pocket expenses for more than 5 active users per month') |
| Mercury Plus | $35/mo monthly or $29.90/mo billed annually (15% off) | Recurring invoices, invoice with ACH debit ($1/transaction), unlimited 1099 tax filings, $50 off eligible LegalZoom Compliance Plans, 6 months free Xero |
| Mercury Pro | $350/mo monthly or $299/mo billed annually (15% off) | Relationship manager, invoice with ACH debit ($0/transaction), NetSuite categorizations, unlimited 1099 tax filings |
| Add-on: ACH, domestic wires, real-time payments, checks (send and receive) | $0 on all plans | RTP only for accounts on Column N.A. (pricing footnote and help article 43065703960852) |
| Add-on: USD international wire (outgoing) | $0 (SHA); $15 flat to send as OUR so Mercury covers intermediary fees | Pricing FAQ and help article 28773111244436 |
| Add-on: Non-USD international wire (outgoing) | 1% currency exchange fee | Pricing table and help article 28772836414228 ('The exchange includes a 1% currency conversion fee'); negotiable above $200K/month exchanged |
| Add-on: Incoming non-USD wire | No Mercury fee stated; Column N.A. converts at mid-market, Choice uses intermediary banks that 'typically add a 2-3% markup' | Help article 34750478414740. USD-only accounts: incoming non-USD is converted to USD. |
| Add-on: Non-USD card transactions (debit and IO) | 3% currency exchange fee | Pricing compare table and help article 32529650270484; also applies to non-USD ATM withdrawals; not refunded; excluded from cashback |
| Add-on: IO card cashback | 1.5% cashback on all settled purchases | Charge card issued by Patriot Bank, N.A.; cash-underwritten (balance cannot exceed Mercury cash); daily repayment until $15K total Mercury balance, then monthly; no annual fee. Cashback paid when the balance is repaid. |
| Add-on: Mercury Treasury | Advisory fee 0.15%-0.60%/yr of Treasury positions by total Mercury deposits ($0-2M 0.60%, $2-5M 0.45%, $5-10M 0.35%, $10-20M 0.25%, >$20M 0.15%); minimum $250K total Mercury balance | Net yields as of 2026-10-09/10-12 on mercury.com/treasury: MRGXX (State Street govt MMF, 7-day effective SEC yield as of 10/12/2026) 3.28% at $250K-$2M, 3.43% $2-5M, 3.53% $5-10M, 3.63% $10-20M, 3.73% $20-50M; MCRYX (Morgan Stanley ultra-short bond, floating NAV, not an MMF, 30-day effective yield as of 10/09/2026) 3.60% / 3.75% / 3.85% / 3.95% / 4.05%. Not FDIC insured; SIPC via Apex Clearing. |
| Add-on: Mercury Books | $35/mo, waived until Dec 31, 2026 | Shown under the free plan on the pricing page |
| Add-on: 1099 filing (free plan) | $5/filing | Unlimited on Plus and Pro |
| Add-on: Invoicing ACH debit (receiving) | $1/transaction on Plus, $0 on Pro | Card payments on invoices via Stripe fees |
| Add-on: Mercury Personal | $240/year, included free with an active Business account | Pricing page and FAQ |
Prices verified on mercury.com/pricing on October 13, 2026.
The two numbers you see for each paid plan are not a conflict. $35 and $350 are monthly billing, and $29.90 and $299 are the monthly rate on annual billing ("Annual Pricing (15% off)" on the Mercury pricing page). Ranking pages that print only one of the two are describing a different billing term. Mercury started offering annual billing between August 5 and September 4, 2025.
What Mercury costs at pre-seed, seed and Series A
We model a typical B2B SaaS startup at three stages. Fees and yield are shown separately, because a fee is certain and a yield moves with rates.
| Stage | Option | Fees per year | Card cashback per year | Yield per year (rate) |
|---|---|---|---|---|
| Pre-seed | Mercury (free plan) | $504 | $648 | $11,480 (3.28%) |
| Pre-seed | Mercury Plus, monthly | $924 | $648 | $11,480 (3.28%) |
| Pre-seed | Relay Scale | $1,848 | $648 | $11,235 (3.21%) |
| Pre-seed | Bluevine Premier | $1,830 | none | $15,000 (3.0%) |
| Seed | Mercury (free plan) | $3,600 | $3,240 | $85,750 (3.43%) |
| Seed | Relay Scale | $5,520 | $3,240 | $80,250 (3.21%) |
| Seed | Bluevine Premier | $5,160 | none | $90,000 (3.0%) |
| Series A | Mercury (free plan) | $18,720 | $12,240 | $363,000 (3.63%) |
| Series A | Relay Scale | $20,700 | $12,240 | $321,000 (3.21%) |
| Series A | Bluevine Premier | $18,690 | none | $360,000 (3.0%) |
The activity profile is our assumption, not vendor data: pre-seed $500K cash ($150K operating), 2 domestic wires, 1 non-USD payment of $3,000 and $4,000 card spend a month (10% non-USD); seed $3M ($500K operating), 6 wires, 4 x $6,000, $20,000 card; Series A $12M ($2M operating), 15 wires, 12 x $10,000, $80,000 card (15% non-USD). Yields are different products: Mercury = Treasury in the MRGXX government money market fund, net of Mercury's fee, as of October 12, 2026, on cash above operating needs (not FDIC insured); Relay = Scale savings APY at Thread Bank as of September 17, 2026 (FDIC-insured deposit, Relay Scale at its $90 promotional price); Bluevine = Premier checking APY at Coastal Community Bank on all balances, no as-of date printed, read October 13, 2026 (FDIC-insured deposit).
All of Mercury's fees in this model are FX: 1% on non-USD wires and 3% on non-USD card spend ($14,400 and $4,320 a year at Series A). The IO card's 1.5% cashback more than covers the card part, and the yield on idle cash is about twenty times the fees at every stage. So the choice between Mercury and its rivals comes down to yield, safety and eligibility more than fees. A paid plan adds $420 a year on monthly billing and changes none of these lines. Run your own numbers with your balances and payment mix.
What each plan adds
- Free: checking and savings, all domestic payments, bill pay, invoicing, debit cards, the IO card and QuickBooks/Xero sync. The limits are reimbursements for up to 5 active users a month and $5 per 1099 filing.
- Plus ($35 / $29.90): recurring invoices, ACH debit on invoices at $1 per transaction, and unlimited 1099 filings. At $5 a filing, the 1099s alone do not pay for it; recurring invoicing is the reason to upgrade.
- Pro ($350 / $299): a relationship manager, $0 ACH debit on invoices and NetSuite categorizations. Mercury says to "get in touch" for custom pricing.
Mercury Books shows "$35/mo, waived until Dec 31, 2026" on the free plan. Budget for it from January 2027 if you use it.
FX, card and Treasury costs
- Non-USD wires: "a 1% conversion fee", negotiable if you exchange more than $200K a month. USD international wires are free (SHA), or $15 flat as OUR so Mercury covers intermediary bank fees.
- Non-USD card spend: 3% on debit and IO card transactions, including ATM withdrawals, and it earns no cashback. One affiliate review (Merchant Maverick) says Mercury has "no foreign transaction fees". Mercury's own pricing table and help center say 3%.
- IO card: 1.5% cashback, no annual fee, issued by Patriot Bank, N.A. It is a charge card with a limit based on your Mercury balances. You repay daily until you hold $15K, then monthly.
- Treasury: needs $250K across Mercury accounts. The fee is 0.60% a year under $2M in total Mercury deposits, falling to 0.15% above $20M.
| Total Mercury balance | Annual fee | MRGXX (government money market fund), net | MCRYX (ultra-short bond fund), net |
|---|---|---|---|
| $250K to $2M | 0.60% | 3.28% | 3.60% |
| $2M to $5M | 0.45% | 3.43% | 3.75% |
| $5M to $10M | 0.35% | 3.53% | 3.85% |
| $10M to $20M | 0.25% | 3.63% | 3.95% |
| $20M to $50M | 0.15% | 3.73% | 4.05% |
Source: mercury.com/treasury, read October 13, 2026. MRGXX: 7-day effective SEC yield as of October 12, 2026, with a provisional State Street fee waiver that "is scheduled to decrease over time". MCRYX: 30-day effective yield as of October 9, 2026.
Mercury's "up to 4.05%" headline is the MCRYX column at $20M or more. Mercury's own footnote says MCRYX "has a floating NAV, is not a money market fund, and carries principal risk". Only the MRGXX column is a money market yield you can compare with Rho or Brex treasury rates. Mercury moved Treasury holdings into MCRYX and MRGXX in July and August 2026; its live compare table still names the old JPMorgan fund for same-day withdrawals. Mercury pays no published interest on checking or savings, so cash below $250K earns nothing.
Who holds the money
Mercury says it is "a fintech company, not an FDIC-insured bank". Deposits sit at Choice Financial Group and Column N.A. Mercury offers "up to $5M in FDIC insurance" through those banks' sweep networks, and "certain conditions must be satisfied for pass-through FDIC insurance to apply". The FDIC says nonbank companies "are never FDIC-insured", so insurance does not cover a fintech's own failure. That gap hurt Synapse users: after its April 22, 2024 bankruptcy, the trustee estimated a $65 to $96 million shortfall between its ledger and the partner banks. Treasury money is not a bank deposit at all. It is held at Apex Clearing under SIPC, which covers up to $500,000 if the broker fails, not losses in the funds.
Mercury's partner banks have changed. Its pricing page listed Evolve Bank & Trust until at least October 9, 2024, and by November 7, 2024 it named only Choice and Column. The IO card issuer, Patriot Bank, was under an OCC formal agreement from January 14, 2025, which the OCC terminated on June 30, 2026.
On April 24, 2026 the OCC granted preliminary conditional approval for Mercury Bank, N.A. (Corporate Decision #1372). The bank is not open: FDIC insurance and Federal Reserve approvals were pending, and we found no final approval or opening date as of October 13, 2026. The OCC letter says the bank "anticipates transitioning customers from Mercury bank partners to the Bank".
Not hands-on tested yet: we have not opened an account with Mercury, which requires a US company and identity checks. Fees and rates come from Mercury's published pricing page, fee schedule and help center, read on October 13, 2026.
Alternatives at a glance
- Relay: FDIC-insured savings interest (up to 3.21% APY as of September 17, 2026) from the first dollar, 1% card FX, plans $0 to $90. See Mercury vs Relay.
- Brex: now owned by Capital One (completed April 7, 2026). Card-first, with a treasury product at a similar money market rate. See Mercury vs Brex.
- Bluevine, Rho, First Citizens (SVB) and others: compared by reason for leaving in Mercury alternatives.
Frequently asked questions
Is Mercury really free?
The account is. You pay for currency conversion (1% on wires, 3% on card spend), Treasury management (0.15% to 0.60% a year, netted from the yield) and the optional paid plans.
Is Mercury a real bank?
Not yet. Banking services come from Choice Financial Group and Column N.A. Mercury Bank, N.A. has preliminary conditional OCC approval (April 24, 2026) and was not open as of October 13, 2026.
What is the minimum balance for Mercury?
There is none for checking and savings. Treasury needs $250K across your Mercury accounts. The IO card moves from daily to monthly repayment once you hold $15K.
Can non-US founders open a Mercury account?
The business must be a US entity. For Treasury, Mercury lists 12 countries where the business may be physically located, and it excludes businesses whose beneficial owner lives in "certain restricted countries". We could not read Mercury's help center to check the full account rules. Non-US founders have reported closures (see Mercury alternatives).
Related: startup banking costs by stage, runway calculator. Idle cash earning 3% or more also stretches your cash runway.