Bluevine vs Mercury Business Checking for 2024

Bluevine and Mercury offer competitive options for business owners searching for a robust digital banking platform at an affordable cost. Bluevine is well-known for offering an industry-leading interest rate of 1.5% on qualifying checking balances for Standard Checking and 4.0% for Premier Checking, which makes it an excellent option for businesses looking for the most competitive interest-bearing checking account.

Meanwhile, Mercury is a banking platform designed specifically for startups and tech companies. Its biggest advantage is Mercury Vault, which uses partner banks and their sweep networks to extend your FDIC insurance up to $5 million. Mercury also offers an interest-bearing account for balances over $500,000.

Here’s a summary of what each provider is best for:

Bluevine Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC : Best for businesses that want a free, digital-only, interest-bearing checking account and access to lines of credit
Mercury Mercury is a fintech company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column N.A., and Evolve Bank & Trust, Members FDIC : Best for incorporated startups and tech companies that want to earn high returns through Mercury Treasury and access extended FDIC insurance up to $5 million

Featured Partner This is a paid placement. However, our team of experts approved it as an appropriate product and our content remains editorially independent.
Not finding what you're looking for? Try North One today
No monthly fees, no inbound or domestic wire fees, and no ATM fees North One offers refunds of two ATM withdrawal fees per month for Standard customers and refunds of up to six ATM withdrawal fees per month for Plus customers. Some restrictions apply. Integrations available for 20+leading accounting and payment processing providers Envelopes to segment funds for taxes, payroll, & more under one single account Team banking allows you to issue virtual or physical debit cards for your team members Visit North One

Featured Partner This is a paid placement. However, our team of experts approved it as an appropriate product and our content remains editorially independent.

Not finding what you're looking for? Try North One today

No monthly fees, no inbound or domestic wire fees, and no ATM fees North One offers refunds of two ATM withdrawal fees per month for Standard customers and refunds of up to six ATM withdrawal fees per month for Plus customers. Some restrictions apply.
Integrations available for 20+leading accounting and payment processing providers
Envelopes to segment funds for taxes, payroll, & more under one single account
Team banking allows you to issue virtual or physical debit cards for your team members

Visit North One

Bluevine vs Mercury Business Checking Account Quick Comparison

Terms
Features

	Standard Checking	Business Checking
Required Opening Deposit	None	None
Required Balance Minimum	None	None
Transaction Limit Before Fees	Unlimited	Unlimited
ACH Fees	None	None
Domestic Wire Transfer Fees	Incoming: $0 Outgoing: $15	None
International Wire Transfer Fees	Incoming: N/A Outgoing: $25 (USD); $25 plus 1.5% (foreign currency)	None
ATM Fees	None at 37,000 MoneyPass locations nationally, plus a $2.50 fee for nonnetwork ATM use Third-party operator fees may apply	None at 55,000-plus Allpoint locations; no fee for nonnetwork ATM use Third-party operator fees may apply
Cash Deposits	$1 per deposit plus 0.5% of deposit amount at Allpoint+ ATMs $4.95 fee per transaction, available through Green Dot retail locations	Cash deposits not accepted
APY	1.5% on qualifying balances up to $250,000	None
FDIC Insurance	Up to $3 million through partner banks and their sweep networks	Up to $5 million through partner banks and their sweep networks Mercury is a fintech company, not an FDIC-insured bank. Deposits in checking and savings accounts are held by our banking services partners, Choice Financial Group and Evolve Bank & Trust ®; Members FDIC. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through insurance to apply.
Our Review	Bluevine business checking review	Mercury business checking review
Open an Account	Visit Bluevine	Visit Mercury

	Standard Checking	Business Checking
Debit Card	Free debit card, mailed within 10 business days of application approval	Free virtual debit card; free physical debit card mailed within a few days
Physical Checks	Two free checkbook orders per year	No physical check writing abilities
Accounting Software Integrations	QuickBooks, Xero, Wave, and Expensify	QuickBooks, NetSuite, and Xero
Business Software Integrations	Includes CashApp, Gusto, Square, Venmo, and Wise	Includes Shopify, Stripe, Zapier, Amazon, PayPal, Gusto, Square, and ADP
Customer Service	Live customer support from dedicated professionals Bluevine Premier Checking users get priority customer support.	One-on-one support from relationship managers
Other Products Available	Lines of credit, credit card and Premier Bluevine offers a one-time, one-month free trial when you sign up for Bluevine Premier, which lets you access all the benefits without paying the $95 monthly fee or completing the fee waiver requirements. Checking	High-yield treasury account, venture debt, and credit card
Other Services Available	Business international payments available in 32 countries and 15 currencies	Mercury Vault, a tool that maximizes fund protection by investing in Mercury Treasury’s money market fund or partner banks’ sweep network
Our Review	Bluevine business checking review	Mercury business checking review
Open an Account	Visit Bluevine	Visit Mercury

Bluevine vs. Mercury: Which Business Checking Provider is Right for You?

Question 1

Answer a few questions about your business, and we'll give you a personalized product match.

How comfortable are you banking with a financial technology (fintech) provider backed by an FDIC-insured bank?

Question 1 of 3

1 minute approx

I am not interested in using a financial technology company for business banking and would prefer a traditional bank directly backed by the FDIC.

I don’t have a strong opinion either way

I am completely comfortable with using a financial technology company or have used one with great success in the past

Question 2

Answer a few questions about your business, and we'll give you a personalized product match.

What is the average balance in your business checking account?

Question 2 of 3

1 minute approx

$250,000 or less

More than $250,000

Question 3

Answer a few questions about your business, and we'll give you a personalized product match.

Choose all of the features that are important to your business banking experience

Question 3 of 3

1 minute approx

Interest-drawing checking account

High-yield savings product for large balances

Access to a business line of credit

In a position where your company may consider venture capital or venture debt

Based on your answers to the quiz, Bluevine may be the best option for you. However, this quiz result is simply a recommendation. You should consider all the features of any banking provider before choosing a business bank.

The most significant advantage Bluevine has is its interest-bearing account. You can earn 1.5% APY on balances up to and including $250,000 on qualifying deposits.

When to Use

You are a sole proprietorship or trust: Bluevine is available to all business owners, no matter their business entity type. Mercury’s services are unavailable to sole proprietorships or trusts.
You want to earn interest on checking balances: Qualified Bluevine Standard Checking accounts earn an APY of 1.5% on balances up to $250,000, whereas Bluevine Premier Checking offers 4.0% APY on balances up to $3 million. Meanwhile, Mercury’s business checking account doesn’t earn interest.
You need access to lines of credit: Bluevine is part of our roundup of the best small business lines of credit for its low rates and funding speed. Any business in good standing can apply for flexible lines of credit. Mercury’s sole lending product offering, called venture debt, is only available to startups that have raised venture capital within one year before their application period.

You need access to venture debt: The only lending products Bluevine offers are lines of credit, whereas businesses that have taken venture capital can access term loans of up to 48 months through Mercury’s venture debt.
You rely on wire transfers: Mercury charges no fees for wire transfers, incoming or outgoing. However, all wire transfers need to go through Mercury’s system. Bluevine charges $15 for all outgoing wire transfers.
You want greater FDIC insurance protection for balances exceeding $3 million: Mercury has a risk management tool called Mercury Vault. It extends the FDIC insurance on your business funds up to $5 million through its partner banks and their sweep networks or by investing in Mercury Treasury’s Morgan Stanley and Vanguard money market fund—composed of United States government-backed treasury products. Bluevine Premier Checking deposits are FDIC-insured up to $3 million only.

You rely on cash deposits: Bluevine cash deposits are only available through Green Dot retail locations or Allpoint+ ATMs, each of which charges fees, while Mercury doesn’t support cash deposits at all. Businesses that deposit cash regularly should look into Bank of America, which allows up to $5,000 worth of fee-free cash deposits per month. Read our Bank of America business checking review to learn more about the product’s features.
You want to save on ATM transactions: Bluevine users are limited to MoneyPass ATMs and will pay a $2.50 fee and potential operator fees for out-of-network transactions. Meanwhile, Mercury users are limited to Allpoint ATMs, and although they won’t be charged any nonnetwork fees, they’ll usually pay additional operator fees. If you want to save on ATM fees, you should choose Axos, which offers unlimited domestic ATM fee refunds. Our review of Axos business checking can help you decide if the provider is suitable.
You want an extensive selection of lending products: Bluevine only offers lines of credit and a credit card, whereas Mercury only offers venture debt products, which are limited to startups that have raised venture capital. Businesses needing a wider range of lending products and other banking solutions can consider U.S. Bank, which offers quick loans with online applications. You can check out our U.S. Bank business checking review to learn about the bank’s business lending products.

See more recommendations in our list of the best small business checking accounts.

Note: Deposits in Mercury checking and savings accounts are held by their partner banks, Choice Financial Group and Evolve Bank & Trust, Members FDIC. Through sweep networks, these funds become eligible for up to $5M in FDIC Insurance. Visit Mercury’s website for more information.

Bluevine vs Mercury Business Checking Account Features

	Bluevine	Mercury
OVERALL RATING This score is reflective of the features of each platform compared against its competitor; it does not reflect the overall quality of the financial provider. A feature not offered by a provider earns zero stars, which is averaged into the overall rating.	4.0 out of 5★	3.9 out of 5★
Cash Deposits	★★	0
Reserve Accounts	★★★★	★★★★★
Bank Network & ATM Availability	★★★	★★★★
Business Software Integrations	★★★★★	★★★★★
APY Earnings	★★★★★	★★★
International Payments	★★★★	★★★★★
FDIC Insurance Coverage	★★★★★	★★★★★
Cashback Promos	★★★	★★★
Credit Cards Cashback	★★★★★	★★★★
User Access	★★★★★	★★★★★
Customer Service	★★★★	★★★★
Rating Explanation: ★★★★★ 5: This feature enhances your banking experience at no cost. ★★★★ 4: This feature has a few minor drawbacks/limits or comes at a slight cost. ★★★ 3: This feature has a few drawbacks/limits or comes at a slightly high cost. ★★ 2: This feature has a few major drawbacks/limits and comes at a high cost. ★ 1: This feature has major drawbacks/limits. 0: This feature is unavailable.

When we compare the Bluevine and Mercury business checking accounts, Mercury has a very slight advantage over Bluevine since it offers users a signup cashback promo, more subaccounts, and no additional fees for transacting at nonnetwork ATMs. In addition, it allows you to send international payments to more countries.

However, Bluevine isn’t far behind with its option to deposit cash at multiple Green Dot locations, although a fee is collected. Similar to Mercury, Bluevine provides additional subaccounts, high APY, unlimited credit card cash back earnings, and extended insurance coverage but at a marginally lower amount.

Bluevine: 2 out of 5

Bluevine allows you to deposit cash at Green Dot retail locations for $4.95 per deposit, and at Allpoint+ ATMs for $1 per deposit plus 0.5% of deposit amount.

Mercury: 0 out of 5

Meanwhile, Mercury doesn’t offer any cash deposit facility and has no physical branches nor cash deposit arrangements with any ATM network.

Bluevine: 4 out of 5

With Bluevine, you can open up to five fee-free subaccounts with your main Bluevine business checking account. A dedicated account number is assigned per subaccount.

Mercury: 5 out of 5

Mercury lets you create 14 free subaccounts with your main business checking account. You can designate the subaccounts for different vendors or expense categories, such as payroll, taxes, accounts receivables, or operating expenses.

Bluevine: 3 out of 5

You can use more than 37,000 MoneyPass ATMs to withdraw for free. You get charged $2.50 when you transact from out of network.

Mercury: 4 out of 5

Mercury lets you access over 55,000 Allpoint ATMs for fee-free withdrawals. Plus, there’s no fee for transacting from out of network.

Bluevine: 5 out of 5

Bluevine integrates with CashApp, Gusto, Square, Venmo, and Wise. It also syncs banking data with accounting software like QuickBooks, Wave, Expensify, and Xero.

Mercury: 5 out of 5

Mercury is compatible with payment processors Shopify, Stripe, Square, Zapier, Amazon, and PayPal. It also integrates with accounting solutions QuickBooks, NetSuite, and Xero.

Bluevine: 5 out of 5

Another difference between Bluevine vs Mercury is that Bluevine Standard Checking offers 1.5% APY for qualified balances up to $250,000, and its Bluevine Premier Checking provides 4.0% for balances up to $3 million with no monthly qualifying activities.

Mercury: 3 out of 5

You only earn an APY through Mercury Treasury, and you would need funds over $500,000 to earn net returns of up to 4.69% annually.

Bluevine: 4 out of 5

Currently, Bluevine charges $15 for an incoming international wire and supports sending ACH payments to 32 countries in 15 currencies. International payments sent in USD are charged $25 per payment, while payments sent in foreign currency are charged $25 plus 1.5% of the payment. Bluevine also offers discounts on standard fees for its Premier account, which can reduce your international payment fees.

Mercury: 5 out of 5

Under Mercury, you can send international wires to more than 200 countries and convert USD to more than 18 currencies. A 1% exchange fee applies. Mercury doesn’t charge international wire fees, but intermediary banks do.

Bluevine: 5 out of 5

Your Bluevine business checking deposits are covered by FDIC insurance up to $3 million through Coastal Community Bank and other partner banks.

Mercury: 5 out of 5

Mercury Vault provides an option to extend FDIC insurance up to $5 million through Mercury’s partner banks (Choice Financial Group and Evolve Bank & Trust) and their sweep networks.

Bluevine: 5 out of 5

The Bluevine Business Cashback Mastercard has no annual fee and earns unlimited 1.5% cash back with $500-plus spend per month. You will receive an invitation from Bluevine if you qualify for the card. It provides access to Mastercard perks and exclusive discounts to QuickBooks Online, McAfee Intuit products, and more.

Mercury: 4 out of 5

The Mercury IO Mastercard provides 1.5% automatic monthly cashback on all domestic and international spending. Still, this card is only available to businesses with a minimum of $50,000 funds in their Mercury account.

You may want to read our review of Mercury IO Mastercard to learn more about the card.

Bluevine: 5 out of 5

With Bluevine, you can control access for different users. You can categorize user types as administrator, authorized users, or accountant.

Mercury: 5 out of 5

Similarly, Mercury lets you invite team members as multiple users. It has four types of user access: admin, bookkeeper, custom, and card-only.

Bluevine: 4 out of 5

Bluevine provides email support and live customer support through a toll-free number. However, Premier Checking users get priority customer support when they call using the phone number linked to their account.

Mercury: 4 out of 5

Email support and one-on-one support from relationship managers are available with Mercury.

After deciding between Bluevine vs Mercury business checking accounts, read our guide on how to open a business bank account. It includes a checklist of documents typically required upon account opening.

Bluevine vs Mercury User Reviews

	Bluevine	Mercury
Trustpilot Rating	4.3 (based on ~8,210 reviews)	3.5 (based on ~1,165 reviews)
Users Like	Easy application process Good customer service	Easy application process Minimal fees
Users Don’t Like	Long hold on incoming transfers and deposits Closes and holds accounts without clear reasons	Slow bank-to-bank transfers Lack of transparency when rejecting applicants and closing accounts

Bluevine has a Trustpilot rating of 4.3, while Mercury has a Trustpilot rating of 3.5. Users praised both providers for their streamlined onboarding process and accommodating customer service.

Most Bluevine customers appreciate the efficient application process for opening a business checking account. Reviewers gave several positive comments with their experience with the customer service team. They said that issues were resolved promptly and that the representatives were very responsive and knowledgeable.

As for Mercury, its users appreciate the very few fees set by the provider. They also reacted positively to the easy signup process and the platform’s simple interface.

Both providers, however, received negative feedback for the lack of transparency surrounding account closures. Bluevine customers did not like having their accounts suspended without reasons provided, while some Mercury users also complained that the provider did not offer adequate information about their account suspensions and closures.

Bottom Line

You won’t go wrong choosing between a Mercury vs Bluevine business checking account since both are excellent options if your business seeks an affordable digital-exclusive bank. Bluevine is the best choice for small businesses looking to earn interest on account balances of $250,000 and below. It also provides a Premier Checking account that offers a high APY with the interest capped at balances up to $3 million, but you’re required to pay a monthly fee and meet qualifying conditions to waive it.

Meanwhile, Mercury is ideal for tech companies and startups with account balances over $500,000 that want to earn an interest return. It is attractive if your balance exceeds $3 million since you can access up to $5 million in FDIC insurance through its partner banks and sweep networks.

Bluevine vs Mercury Business Checking: Which Is Best?

Bluevine vs Mercury Business Checking Account Quick Comparison