Mercury is a financial technology company that offers online business banking built for startups and online businesses. Its core accounts have no monthly fees, no minimum balance, and no overdraft fees, and everything is managed through a clean web and mobile app.
Accounts include checking and savings, physical and virtual debit cards, bill pay, invoicing, and free ACH and domestic wires, plus free international wires in U.S. dollars. Mercury syncs with popular accounting software and offers an API for businesses that want to automate payments. Banking services are provided through partner banks, and deposits can be FDIC-insured up to $5 million through sweep networks.
Mercury is a strong fit for tech startups, e-commerce businesses, and online-first companies that don’t need a physical branch. Paid Plus and Pro plans add features like recurring invoicing and advanced integrations.
Mercury is not a bank itself, and it doesn’t support cash deposits, which rules it out for many cash-heavy local businesses. Non-USD wires carry a conversion fee, and some users report sudden account reviews or closures, so keeping a backup account is wise.
Long Island startups, especially those raising outside investment, will find Mercury’s tools familiar to many investors and accountants.