Business bank account review

Mercury Business Checking

Name: Mercury Business Checking
Rating: 4.1

Online business checking from a fintech, with banking services through Choice Financial Group and Column N.A., no monthly fee, free domestic wires and no cash deposits.

By MercuryParent company: Mercury Technologies, Inc.Verified Oct 17, 2026

RTC SCORE

4.1

#10 of 13 with enough data

What we like

$0 monthly fee with no minimum balance, and $0 for ACH, domestic wires, real-time payments and mailed checks.
Up to $5,000,000 in FDIC coverage through its partner banks' sweep network of up to 20 banks.
Connects to QuickBooks Online, Xero and NetSuite.

What to watch

Does not accept cash deposits, at ATMs or anywhere else.
The checking account pays 0.00% interest.
Mercury is not a bank: the money is held by Choice Financial Group or Column N.A.

How the score breaks down

RTC Score4.1out of 10

Methodology v1.0.0

Data completeness100%

We could verify 100% of the scoring data

Strongest points: Fee to close the account, How easy the monthly fee is to avoid, Accounting software it connects to
Weakest point: 12-month cost (reference restaurant)

Score by criterion

12-month cost (reference restaurant)Weight 32%Weakest0.0 out of 10
Where you can deposit cashWeight 10%0.0 out of 10
Cash deposit limitWeight 10%0.0 out of 10
Owner with an ITIN and no SSNWeight 10%4.0 out of 10
Fee to close the accountWeight 10%Strongest10.0 out of 10
How easy the monthly fee is to avoidWeight 8%Strongest10.0 out of 10
Accounting software it connects toWeight 6%Strongest8.5 out of 10
Open onlineWeight 5%10.0 out of 10
Outgoing domestic wire feeWeight 5%10.0 out of 10
Mobile check depositWeight 4%10.0 out of 10

All the data, with sources

Each value links to its source. "Not published" means the vendor doesn't disclose it; "Unconfirmed" means we looked and couldn't confirm it. Data points we have for fewer than four vendors are left out until we can compare them.

Fees
Data point	Value
Monthly fee	$0/moVerified Oct 17, 2026Source: Mercury (opens in a new tab)
How to avoid the monthly fee	No monthly feeVerified Oct 17, 2026Source: Mercury (opens in a new tab)
Transactions included a month	N/AVerified Oct 17, 2026Source: Mercury (opens in a new tab)Mercury's pricing page lists no per-transaction fee; ACH, domestic wires, real-time payments and checks are $0.
Each transaction over the included ones	N/AVerified Oct 17, 2026Source: Mercury (opens in a new tab)
Outgoing domestic wire	$0 one-timeVerified Oct 17, 2026Source: Mercury (opens in a new tab)
Minimum opening deposit	$0Verified Oct 17, 2026Source: Mercury / Choice Financial Group (opens in a new tab)
Other fees	Non-USD international wires carry a 1% currency exchange fee, and non-USD debit or credit card transactions up to 3%. USD international wires are free; paying $15 (OUR option) makes Mercury absorb intermediary fees. Mass payments by API, Mercury Treasury and paid plans (from $35 a month) have their own fees. Mercury does not charge ATM fees, but the ATM operator may.Verified Oct 17, 2026Source: Mercury (opens in a new tab)

Cash deposits
Data point	Value
Accepts cash deposits	NoVerified Oct 17, 2026Source: Mercury (opens in a new tab)Neither at ATMs nor by mail. Both partner bank agreements say they do not accept cash deposits.
Where you deposit cash	Verified Oct 17, 2026Source: Mercury / Choice Financial Group (opens in a new tab)
Cash deposited free each month	N/AVerified Oct 17, 2026Source: Mercury (opens in a new tab)
Cash deposit limit	Doesn't take cashVerified Oct 17, 2026Source: Mercury (opens in a new tab)
Most cash a month	N/AVerified Oct 17, 2026Source: Mercury (opens in a new tab)

Bank and deposit insurance
Data point	Value
Who holds the money	A fintech, through a partner bankVerified Oct 17, 2026Source: Mercury (opens in a new tab)Mercury says it received conditional OCC approval in April 2026 to establish Mercury Bank, N.A.; today it is not a bank.
Bank that holds the deposits	Choice Financial Group or Column N.A., Members FDIC (your statements show which one)Verified Oct 17, 2026Source: Mercury (opens in a new tab)
Most FDIC coverage offered	$5,000,000Verified Oct 17, 2026Source: Mercury (opens in a new tab)Through a sweep network of up to 20 banks; pass-through FDIC insurance has conditions.

Requirements to open
Data point	Value
What the owners must give	The business's formation documents, its IRS-issued EIN document and a government ID (for example, a passport or a U.S. government ID) for at least one person with operating control and for every owner with 25% or more. The company must be formed in the U.S. or a U.S. territory. Mercury says it uses the SSN only to verify identity, with no credit check. It does not mention ITIN.Verified Oct 17, 2026Source: Mercury (opens in a new tab)
Owner with an ITIN and no SSN	Not published for business checkingVerified Oct 17, 2026Source: Mercury (opens in a new tab)Mercury's FAQ and business banking page do not mention ITIN; its help center (support.mercury.com) could not be read.
Open online	OnlineVerified Oct 17, 2026Source: Mercury (opens in a new tab)

Day to day
Data point	Value
Mobile check deposit	YesVerified Oct 17, 2026Source: Mercury (opens in a new tab)Initial check deposit limits depend on business verification and transaction history.
ATM withdrawals	Mercury debit cards work at ATMs; Mercury adds no fee on top of what the ATM operator charges. It does not name an ATM network.Verified Oct 17, 2026Source: Mercury (opens in a new tab)
Accounting software it connects to	QuickBooks, Xero, NetSuiteVerified Oct 17, 2026Source: Mercury (opens in a new tab)Enriched NetSuite automations require a paid plan; QuickBooks and Xero automations and bank feeds are free.
Interest on the checking balance	0.00%: the checking account does not pay interest under either partner bank's agreement. Mercury Treasury is an investment product, not checking.Verified Oct 17, 2026Source: Mercury / Choice Financial Group (opens in a new tab)

Account agreement and closing
Data point	Value
Fee to close the account	$0 one-timeVerified Oct 17, 2026Source: Mercury / Choice Financial Group (opens in a new tab)Neither partner bank's fee schedule nor Mercury's FAQ lists a closing fee.
Minimum term	Month to monthVerified Oct 17, 2026Source: Mercury / Choice Financial Group (opens in a new tab)No minimum term; you close the account by writing to Mercury (help@mercury.com).
Closing clause	You can close the account with written notice, which the bank honors within three business days plus the time to settle pending transactions. The bank can also close it at any time.Verified Oct 17, 2026Source: Mercury / Choice Financial Group (opens in a new tab)
Right to change fees	The bank and Mercury may change the agreement at any time by posting a revised version or emailing it; continuing to use the account means you accept it. No minimum notice period is stated.Verified Oct 17, 2026Source: Mercury / Choice Financial Group (opens in a new tab)

Language
Data point	Value
Business pages in Spanish	No data
Support in Spanish	No data

More about Mercury Business Checking

How we score