Mercury

## What fees does Mercury charge for business banking services including wire transfers, monthly maintenance, and minimum balances?

## Overview Mercury, a financial technology company, provides business banking services through partner banks with a fee structure that eliminates many common charges found at traditional financial institutions. For its standard business checking and savings accounts, Mercury does not charge monthly maintenance fees, does not require a minimum balance to open or maintain an account, and does not charge overdraft fees. This policy applies to all standard account holders, allowing businesses to operate their accounts without incurring penalties for low balances or facing recurring monthly service costs. Furthermore, core payment services are included at no cost. This includes all incoming and outgoing domestic USD wire transfers, all ACH transfers, and the sending and receiving of physical checks. This fee model is a significant point of differentiation from many traditional commercial banks. ## Key Features While core domestic services are largely free of charge, certain international transactions and premium services are subject to fees. For international wire transfers, Mercury applies a 1% currency conversion fee on the transaction amount when sending or receiving funds in a non-USD currency. For international wires sent in USD, there is no direct fee from Mercury for the standard 'SHA' (Shared) transfer, where intermediary bank fees may be deducted from the received amount. However, Mercury offers a premium 'OUR' option for a flat fee of $15, which ensures the recipient receives the full wire amount by covering all intermediary bank charges. For international card transactions made with a Mercury debit or credit card in a currency other than USD, a 3% foreign transaction fee is applied. These fees constitute part of Mercury's revenue model, alongside other sources. The company generates revenue from interchange fees on card transactions, interest earned on customer deposits held with partner banks, and subscription fees for its premium software tiers. ## Technical Specifications Mercury offers several account plans with different features and associated costs. The standard 'Mercury' plan is free ($0/month) and includes all the core fee-free banking services. For businesses requiring more advanced financial tools, Mercury offers paid plans. As of early 2026, 'Mercury Plus' and 'Mercury Pro' are available, with pricing starting at $35 per month. These paid tiers provide access to advanced features such as mass payments via API, automated treasury management services, and enriched integrations with accounting software like NetSuite. Mercury also launched a separate personal banking product, 'Mercury Personal', which is available for an annual subscription of $240. ## How It Works It is important to note that Mercury is a fintech company, not a chartered bank. Its banking services are provided by partner banks, including Choice Financial Group and Column, N.A. Customer deposits are FDIC-insured up to $5 million through a sweep network that distributes funds across multiple partner institutions. ## Use Cases ## Limitations and Requirements ## Comparison to Alternatives In comparison to Mercury's model, traditional business bank accounts at major institutions typically involve a range of fees. For example, banks like Chase and Wells Fargo often charge monthly maintenance fees between $15 and $35, which may only be waived if a minimum daily or average balance (e.g., $2,000 or more) is maintained. Outgoing domestic wire transfers at these banks commonly cost between $15 and $35 per transaction, and international wires can cost up to $65. Overdraft fees are also a significant source of revenue for traditional banks, a cost that Mercury's platform is designed to avoid. The absence of these fees on Mercury's standard plan can result in considerable cost savings for businesses, particularly those that conduct frequent wire transfers or maintain fluctuating cash balances. ## Summary In conclusion, Mercury's fee policy for its standard business banking services is defined by the absence of charges for monthly maintenance, minimum balances, overdrafts, and domestic USD wire transfers. Fees are applied for specific services, most notably a 1% fee for foreign currency exchange on international wires and a 3% fee on international card transactions. The company offers paid subscription plans, Mercury Plus and Pro, which unlock advanced software features for a monthly fee. This fee structure contrasts sharply with traditional banking models and is designed to provide more predictable and lower banking costs for startups and small businesses. Businesses should always review the most current pricing information on Mercury's official website to understand the full scope of potential costs associated with their specific banking needs.