Mercury

Pricing

• •Business onlyPaid annually, Mercury Pro works out to $299/month, a 15% discount versus monthly billing.
• •Personal onlyA single personal subscription covers up to three accounts: one individual, one joint, and one trust account (the trust must be revocable and for personal, family, or household purposes).
• •Business onlyPaid annually, Mercury Plus works out to $29.90/month, a 15% discount versus monthly billing.
• •Personal onlyMercury Personal is billed annually, at $240/year rather than monthly; the fee is waived while you also hold an active Mercury Business account.

Limits

• •Above $200,000 a month in exchange volume Mercury asks you to get in touch, and someone from the team follows up.
• •The daily card limit depends on which partner bank holds the account: Choice Financial Group states $10,000 a day on card payments, Column N.A. states nothing, and Mercury does not publish which customers go to which bank.
• •The personal account allows $10,000 a day on ACH transfers out to an external institution and $10,000 a day on card payments, while wires and bill pay checks sit at $0.
• •The personal limits are a floor, not a ceiling: Mercury states they are the lowest limits allowed, that it may let you transact more, and that it may equally restrict a transaction type or lower your limits at the moment you try to send, at its own discretion. You can ask support what your current limits are.

Payments & transfers

• •Mercury holds balances in USD only: incoming payments in other currencies are automatically converted to USD rather than held in their original currency.
• •You can receive payments in many more currencies than you can send: the set available for sending is narrower and differs slightly between personal and business accounts.
• •For Ukraine, payments to and from the sanctioned regions of Crimea, Donetsk, Luhansk, Kherson and Zaporizhzhia are blocked, while the rest of the country is supported subject to additional review.
• •Mercury's two published lists of blocked countries do not agree: the business help page names 11 countries, while the personal page still names 22. Sudan is the clearest gap, blocked on the business page and only flagged as requiring documentation on the personal one.
• •The USD account is a US account with its own account and routing numbers, held at the partner banks Choice Financial Group or Column N.A., both FDIC members, and it moves money over ACH and wire.
• •Mercury holds one currency only: a payment arriving in another currency is converted into USD before it reaches the account, so USD is the only local account there can be.

Crypto

• •Mercury serves crypto and web3 startups, DAOs, and funds, but does not currently open accounts for money services businesses or crypto exchanges.

Opening an account

• •Personal onlyThe personal account requires a valid US residence address and a US Social Security number.
• •Business onlyIndividuals based outside the US can be founders on a business account; only the company needs to be registered in the US or a US territory, not the people who own it.
• •Business onlyTrusts are not eligible to hold a business account.
• •Business onlyBusinesses that are sole proprietorships (or the equivalent in their home country) are not eligible for a business account.

Licence & regulation

• •Mercury is a fintech rather than a bank licensed in its own right: the account and card are provided by its FDIC-insured partner banks, Choice Financial Group and Column N.A. Mercury states it does not carry out money transmission itself.