Snapshot
Mercury and Bank of America Business compared on the points that usually decide a business account: account type, monthly fee, currency support, eligibility and where each one is available.
Mercury figures as of 24 November 2025Bank of America Business figures as of 24 November 2025Last reviewed 24 November 2025
General information, not financial, legal, or tax advice. There is no single best account. The right fit depends on your business. Verify current terms and eligibility with each provider before applying.
Mercury and Bank of America take different approaches. Mercury is an online business banking platform from a financial technology company, with banking provided by partner banks and no monthly fee on the standard account. Bank of America is a licensed United States bank offering business checking, cash handling, credit and lending through a nationwide branch network. Use the comparison below to weigh account type, fees, currency support and eligibility against how your company operates, then confirm the latest terms with each provider. Figures are shown as of 24 November 2025.
Mercury vs Bank of America Business at a glance
| Feature | Mercury | Bank of America Business |
|---|---|---|
| Account type | Online business banking with checking and savings, cards and treasury features. Mercury is a financial technology company, not a bank. Banking services are provided by partner banks that are members of the Federal Deposit Insurance Corporation. | Business checking and savings at a licensed United States bank that is a member of the Federal Deposit Insurance Corporation. Bank of America is a bank. |
| Who it suits | United States startups, technology companies and online businesses that want digital banking with treasury, cards and an API. | United States registered businesses that value a nationwide branch network, cash handling, credit and lending, and a rewards programme over a low cost online only account. |
| Monthly fee | No monthly account fee and no minimum balance on the standard account. Mercury Plus is about 35 United States dollars a month and Mercury Pro is about 350 United States dollars a month, with lower rates when billed annually. As of 24 November 2025. Verify with Mercury. | Business Advantage Fundamentals is 16 United States dollars a month, waived for the first 12 statement cycles and waivable afterwards by meeting balance or activity conditions. Business Advantage Relationship is 29.95 United States dollars a month. As of 24 November 2025. Verify with Bank of America. |
| Transaction fees | No fee on ACH and domestic and outgoing United States dollar wires on the standard account. Some advanced features can carry fees. As of 24 November 2025. Verify the current rate card with Mercury. | Each account includes a monthly allowance of fee free transactions and cash handling, with charges above the allowance. Wire transfers and some services carry fees. As of 24 November 2025. Verify the schedule of fees with Bank of America. |
| FX fees | International United States dollar wires are supported and some payments can carry fees. Currency conversion is limited and varies by route, so verify with Mercury. As of 24 November 2025. | International wire transfers and foreign currency payments carry fees that vary by route and currency. Unclear at a single headline rate, so verify with Bank of America. As of 24 November 2025. |
| Minimum deposit | No account minimum and no opening fee. As of 24 November 2025. Verify with Mercury. | A small opening deposit applies to open a business checking account. As of 24 November 2025. Verify the current amount with Bank of America. |
| Multi currency | United States dollar based, with international United States dollar payments supported. Not a full multi currency account. As of 24 November 2025. Verify with Mercury. | Accounts are United States dollar based. International wires are supported, and foreign currency services are available mainly for larger commercial clients. As of 24 November 2025. Verify with Bank of America. |
| Integrations | Accounting integrations such as QuickBooks and Xero, an API, virtual and physical cards, bill pay and treasury. Confirm current integrations with Mercury. | Online and mobile banking, business credit and debit cards, merchant services, lending, and the Preferred Rewards for Business programme. As of 24 November 2025. |
| Eligibility | United States registered businesses such as LLCs and corporations, including those with founders based abroad. Sole proprietorships and trusts are generally not supported. As of 24 November 2025. Verify with Mercury. | Businesses registered in the United States, including sole proprietors, partnerships, LLCs, and corporations, with United States based owners and a United States address. As of 24 November 2025. Verify eligibility with Bank of America. |
| Broadly available in | The United States. The business must be a United States registered entity, though founders may live abroad. As of 24 November 2025. | The United States. Accounts are for United States registered businesses with United States based owners. As of 24 November 2025. |
Use the table to weigh the differences. Mercury and Bank of America differ most on model, since one is online only with no monthly fee on the standard account and the other is a full service bank with branches, cash handling and lending, so match those to how your business banks, then confirm the latest fees and eligibility with each provider.
Open a business account
Mercury accepts business customers in its supported markets. Bank of America Business is a licensed United States bank you apply to directly. Fees and eligibility shown as of 24 November 2025. Confirm current terms with the provider before applying.
Visit Mercury → Read the Bank of America Business review →Questions about Mercury and Bank of America Business
Which is better for my business, Mercury or Bank of America Business?
It depends on your needs. The table on this page compares Mercury and Bank of America Business on account type, fees, currency support, eligibility and availability using each provider's published terms. Mercury is an online platform with banking from partner banks and no monthly fee on the standard account, while Bank of America is a licensed United States bank with branches, cash handling and lending. Weigh those against how your business operates, then confirm current terms with each provider. This is information, not advice.
Can I use both Mercury and Bank of America Business?
Often yes, subject to each provider's eligibility rules. Some businesses keep both, for example a Bank of America account for branch banking, cash handling and lending and a Mercury account for digital first banking and treasury. Check eligibility with each provider before applying.
Are the fees on this page current?
Each figure is shown with the date it was recorded. Mercury and Bank of America Business figures are shown as of 24 November 2025. Fees and eligibility change, so confirm current terms with each provider before you apply.
Fees, features, and eligibility change and vary by region. This page was last reviewed on 24 November 2025. Confirm current terms with each provider before applying.