Mercury vs Relay: Side-by-Side Comparison
Side-by-side comparison across 13 dimensions. Data is approximate and for informational purposes only.
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| Dimension | Mercury | Relay |
|---|---|---|
| Type | Banking platform (partner banks) | Banking platform (Thread Bank) |
| Monthly Fee | $0 | $0 (Starter); $30/mo (Grow); $120/mo (Scale, currently discounted to $90) |
| Currencies | USD accounts only; receives 139 currencies (auto-converted), pays out to 40+ | USD only |
| FDIC Insured | Yes (up to $5M through partner banks' sweep networks)* | Yes (up to $3M via sweep) |
| Local Bank Details | US | US |
| International Transfers | Wire ($0 domestic, 1% intl in foreign currency, $0 intl in USD) | Wire: Local network $1.50–5, SWIFT $20–25 (by plan); incoming wire $5 |
| Currency Conversion | 1% for wires, 3% for card FX | FX fee from 1.00% (upper bound not published); rate refreshed every 60s |
| Interest on Deposits | Unknown — ask vendor | Yes (savings, 1.19–3.21% APY by plan) |
| Debit Card | Virtual + physical | Virtual + physical |
| Team Access | Roles & permissions | 6 permission levels (Admin, Manager, Bill Payer, Cardholder, Deposit Only, Read Only) |
| Accounting Integrations | QuickBooks, Xero, NetSuite | QuickBooks, Xero |
| API Access | Yes — REST API, CLI, MCP server | Unknown — ask vendor |
| Non-Resident Access | No US citizenship/residency needed; US entity + US operations; registered-agent/PO-box/virtual addresses rejected; ~50 countries excluded | US entity required; non-resident owners explicitly accepted (31 countries excluded) |
Key Notes
Mercury
Best for US-focused startups. Strong API, FDIC up to $5M through partner banks' sweep networks. Accepts non-US-resident founders of US entities, but the company's physical address cannot be a registered-agent, PO-box or virtual address (an international one is accepted), and ~50 countries of founder residence are excluded. Balances are USD-only, though incoming wires are accepted in 139 currencies and vendor payouts run to 40+ local currencies at a 1% FX fee — note that incoming non-USD wires on Choice Financial Group pass through intermediary banks that typically add a 2–3% markup Mercury does not control. *Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC.
Relay
Best for profit-first budgeting. Category-based accounts help separate operating, tax, and profit funds (Relay is the official banking platform for Profit First Professionals, with up to 20 real checking accounts). USD-only balances. Explicitly accepts US entities with non-resident, non-citizen owners, excluding 31 countries of citizenship or residency. If you plan to collect by ACH pull (payment requests sent from your Relay account), read the account-tier limits below first.
- Relay's account agreement names a "Basic" tier for US entities with foreign beneficial owners, assigned at Relay's discretion. In that tier, money you pull in by ACH (payment requests sent from your account, or transfers from your own account at another US bank) is capped at $2,000 a day and $5,000 a month. Electronic deposits a payer sends you, and domestic wires, have no limit. Relay does not publish who lands in this tier. source
*Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC. FDIC deposit insurance covers the failure of an insured bank. Deposits in checking and savings accounts are FDIC-insured through Choice Financial Group and Column N.A. and their Sweep Program Network Banks. Certain conditions must be satisfied for pass-through FDIC insurance to apply.
*The Mercury Debit Cards are issued by Choice Financial Group and Column N.A., Members FDIC, pursuant to licenses from Mastercard®.
*Relay is a financial technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC. FDIC deposit insurance covers the failure of an insured bank. FDIC insurance available for funds on deposit through Thread Bank, Member FDIC. Certain conditions must be satisfied for pass-through FDIC insurance to apply.
*The Relay Visa® Debit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa debit cards are accepted.
What Real Users Say
Anonymized and paraphrased observations from founder communities, review platforms, and forums.
Mercury has better integrations and a slicker UI. Relay has profit-first budgeting with multiple account numbers under one login. Depends on whether you care about accounting integration or cash flow management.
Source: Reddit r/smallbusinessRelay is genuinely free — no fees, no minimums. Mercury is also free but has stricter compliance screening that rejects more non-resident applicants.
Source: Founder communitiesMercury API access is better for automation (connecting to Xero, QuickBooks, custom dashboards). Relay API is more limited.
Source: G2 reviewsFrequently Asked Questions
How We Compared
We reviewed fee structures, currency support, FDIC coverage, transfer capabilities, and non-resident access policies from each provider's published documentation.
Disclaimer: All data on this page is approximate and for informational purposes only. Pricing, features, and availability change frequently. This is not legal, tax, or financial advice. Verify all figures directly with each provider before making decisions. Data reflects conditions as of early 2026.
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