Mercury is a key player in startup banking, but several other banks and fintech companies offer competitive business checking accounts that are worth considering. Brex, Rho, and Meow share similarities with Mercury, featuring sleek websites, minimal fees, and benefits like free wire transfers, targeting the same startup clientele. Meanwhile, Bluevine and Relay cater more to smaller businesses without external investors.
When evaluating these companies, it’s important to look beyond just their features. Consider factors such as company size, funding rounds, and longevity, as these can indicate whether a company might pivot its strategy or remain stable.
Brex targets venture-backed startups and mid-market companies, offering free wires and 24/7 customer support, unlike Mercury’s email-only support. Both companies were founded in 2017, but Brex hasn’t raised funds since 2021, whereas Mercury announced its Series C in 2025, hinting at potential growth or new product launches.
Rho, founded in 2018, offers 24/7 phone support and shares many similarities with Mercury, though it doesn’t support ATM withdrawals. Relay, established in 2018, is ideal for small to medium-sized businesses, offering affordable wire transfers and up to 20 checking accounts for different purposes.
Grasshopper, an online-only bank founded in 2019, provides low-cost wire transfers and substantial insured cash sweep coverage, though it lacks easy foreign currency wire transfers and a corporate card compared to Mercury.
Bluevine is suitable for simpler operations, offering insured cash sweep services, free incoming wires, and competitive APY on checking balances. Meow, a newer player founded in 2021, offers low exchange fees through Airwallex and interest on checking account balances.
While Mercury is popular, it has limitations, such as scrutiny on its banking partners and email-only customer support. Those seeking direct banking with an FDIC-insured institution might consider Grasshopper, while those valuing phone support might explore Rho or Brex.
