Snapshot
Mercury and Novo 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 11 June 2026Novo figures as of 12 June 2026Last reviewed 18 June 2026
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 Novo suit different businesses. 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 11 June 2026 for Mercury and 12 June 2026 for Novo.
Mercury vs Novo at a glance
| Feature | Mercury | Novo |
|---|---|---|
| Account type | Checking and savings provided through FDIC member partner banks. Mercury is a fintech, not a bank. | Online business checking account |
| Who it suits | United States registered startups and growing companies, including those with founders based abroad, that want a digital first account with no monthly fee on the free plan and modern software. | United States based sole proprietors, LLCs, partnerships and corporations, especially small businesses and freelancers that want a free online checking account. |
| Monthly fee | Free plan with no monthly fee. Plus is about 35 US dollars a month and Pro is about 350 US dollars a month, with lower rates if billed annually. As of 11 June 2026. | No monthly fee (as of 12 June 2026). |
| Transaction fees | No monthly fee or overdraft fee on the standard account. Some advanced workflows, such as large volume API payments and certain non US dollar card transactions, can carry fees. As of 11 June 2026. Verify the current rate card with Mercury. | No transaction fees and no incoming wire fees. A 27 US dollar insufficient funds fee and a 27 US dollar uncollected funds returned fee apply (as of 12 June 2026). |
| FX fees | Sending United States dollars internationally and non US dollar transactions can carry fees that vary by route. Unclear at a single headline rate, so verify with Mercury. | Primarily a US dollar account. International features are limited. Verify current terms with the provider. |
| Minimum deposit | No account minimum and no account opening fee. As of 11 June 2026. Verify with Mercury. | 50 US dollars to open, then no minimum balance (as of 12 June 2026). |
| Multi currency | Accounts are United States dollar based. International United States dollar payments are supported, and some currency features carry fees. As of 11 June 2026. Verify with Mercury. | No. It is a US dollar checking account, not a multi currency account. |
| Integrations | Accounting integrations including QuickBooks and Xero, an API, bill pay, expense management, and treasury tools. Verify current integrations with Mercury. | Invoicing tools and integrations with common business and payment apps. |
| Eligibility | Businesses formed and registered in the United States or a United States territory, with United States operations or plans. Founders in many countries can apply, though some regions are not supported. As of 11 June 2026. Verify eligibility with Mercury. | United States based sole proprietorships, partnerships, LLCs and corporations. Some industries are not accepted. Confirm details with the provider. |
| Broadly available in | The United States. The business must be a United States entity, though founders living in many countries can apply. As of 11 June 2026. | United States only. |
Use the table to weigh the differences. Mercury and Novo tend to differ most on account type and currency support, so match those to how your business moves money, then confirm the latest fees and eligibility with each provider.
Open a business account
Both providers accept business customers in their supported markets. Fees and eligibility shown as of 11 June 2026 for Mercury and 12 June 2026 for Novo. Confirm current terms with the provider before applying.
Visit Mercury → Visit Novo →Questions about Mercury and Novo
Which is better for my business, Mercury or Novo?
It depends on your needs. The table on this page compares Mercury and Novo on account type, fees, currency support, eligibility and availability using each provider's published terms. Weigh those against how your business operates, then confirm current terms with each provider. This is information, not advice.
Can I open both Mercury and Novo?
Often yes, subject to each provider's eligibility rules. Some businesses keep more than one account, for example one for everyday banking and another for currency conversion. 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 figures are shown as of 11 June 2026 and Novo figures as of 12 June 2026. 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 18 June 2026. Confirm current terms with each provider before applying.