Snapshot
Wise Business and Mercury compared on the points that usually decide a business account: account type, monthly fee, currency support, eligibility and where each one is available.
Wise Business figures as of 4 December 2025Mercury figures as of 4 December 2025Last reviewed 4 December 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.
Wise Business and Mercury suit different needs. Wise Business is built around holding and converting many currencies, while Mercury is a United States business banking platform aimed at startups and online companies. 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 4 December 2025.
Wise Business vs Mercury at a glance
| Feature | Wise Business | Mercury |
|---|---|---|
| Account type | Multi currency account from Wise. Wise is a financial technology company and electronic money institution, not a bank, working with partner institutions to safeguard funds. | Business banking platform from Mercury. Mercury is a financial technology company, not a bank. Banking services are provided through partner banks, with deposits eligible for pass through FDIC insurance through those partners. |
| Who it suits | Businesses that send, receive or hold money in several currencies, including importers, exporters, freelancers and online sellers that want local account details abroad. | United States registered companies, often startups and online businesses, that want digital business checking and savings with no monthly fee. |
| Monthly fee | No monthly account fee. There is a one time fee to open the account that varies by country, for example about 31 United States dollars in the United States. As of 4 December 2025. Verify with Wise. | No monthly fee, no account minimums and no opening fee on the core account. Some advanced features carry charges. As of 4 December 2025. |
| Transaction fees | Pay as you go pricing. Sending money and currency conversion carry a small percentage fee that varies by route and currency. As of 4 December 2025. Verify the current rate on the Wise pricing page. | Standard ACH and United States dollar domestic payments are typically free. Charges can apply to features such as non United States dollar card transactions, currency exchange and optional faster international United States dollar payments. As of 4 December 2025. Verify with Mercury. |
| FX fees | Currency conversion uses the mid market exchange rate with a transparent percentage fee shown before you send. This is a core strength of the product. As of 4 December 2025. | Mercury charges for exchanging money in non United States dollar currencies and for non United States dollar card transactions. As of 4 December 2025. Verify current rates with Mercury. |
| Minimum deposit | No minimum balance. The only upfront cost is the one time account opening fee where it applies. As of 4 December 2025. | No account minimum and no opening deposit on the core account. As of 4 December 2025. |
| Multi currency | Hold and convert many currencies in one account and receive local account details in several currencies. As of 4 December 2025. | The account is United States dollar based. Some currency features exist but Mercury is not a multi currency banking provider in the way Wise is. As of 4 December 2025. |
| Eligibility | Registered businesses in supported countries. A one time verification of the business and its owners is required. Availability and the ability to hold a balance vary by country. As of 4 December 2025. Verify with Wise. | Companies formed and registered in the United States or a United States territory, including those founded by people living outside the United States, with an Employer Identification Number and supporting documents. Sole proprietorships and unregistered businesses are generally not eligible. As of 4 December 2025. Verify with Mercury. |
| Broadly available in | Many countries across Europe, the United States, Canada, Asia and Oceania, with feature and balance availability varying by country. As of 4 December 2025. | The United States. The business must be a United States registered entity, though founders may live abroad. As of 4 December 2025. |
Wise Business and Mercury tend to differ most on currency support and where the business must be registered. Match those to how your company moves money and where it is incorporated, then confirm the latest fees and eligibility with each provider.
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Both providers accept business customers in their supported markets. Figures shown as of 4 December 2025. Confirm current terms with the provider before applying.
Visit Wise Business → Visit Mercury →Questions about Wise Business and Mercury
Which is better for my business, Wise Business or Mercury?
It depends on your needs. The table on this page compares Wise Business and Mercury 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 Wise Business and Mercury?
Often yes, subject to each provider's eligibility rules. Some businesses keep more than one account, for example a Mercury account for United States dollar banking and a Wise Business account for holding and converting other currencies. Check eligibility with each provider before applying.
Are the fees on this page current?
Each figure is shown with the date it was recorded, as of 4 December 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 4 December 2025. Confirm current terms with each provider before applying.