Mercury Vs. Novo
Novo and Mercury are two of the leading checking account providers for businesses, offering a range of financial services. Find the right fit for your business by comparing their features & benefits.
Advertiser Disclosure
Top10BusinessBanks is a free online resource meant to help users find the information they need in order to make a confident decision. We spend countless hours of research to find the most relevant content and present it in the most accessible way. However, please don’t view the information presented here as a recommendation from our end.
Please note:
- All the information displayed in this site is completely subjective. Moreover, we have broad editorial discretion as to the content we publish on the site and due to various reasons, the information you see may be incomplete and/or inaccurate. Please don’t hesitate to double-check the information we provide. It’s okay, we won’t be offended – on the contrary, we would love to hear your feedback!
- We’re able to offer this completely free-of-charge online resource thanks to the referral fees we receive from our partners (some of the companies listed on this site). While this may affect the location of these companies and the content we feature on the site, it’s not possible to purchase a favorable review or a position on this site.
General Details
Monthly Fee
$0
$0
Treasury
Up to 4.44%
Banking Partner
Evolve Bank & Trust® and Choice Financial Group; Members FDIC.
Middlesex Federal Savings, Member FDIC
FDIC Coverage
Up to $5,000,000
Up to $250,000
disclaimer
Mercury is a fintech company, not an FDIC-insured bank. Checking and savings accounts are provided through our bank partners Choice Financial Group, Column N.A., and Evolve Bank & Trust; Members FDIC. Deposit insurance covers the failure of an insured bank. Checking and savings account deposits may be held by sweep network banks. Certain conditions must be satisfied for pass-through insurance to apply
Editorial Score
Card
Fees & Charges
Minimum Balance
$0
$0
Overdraft Fees
$0
$0
Mandatory first deposit
$0
$50
Features
Wire Transfers
Incoming ACH $0
Outgoing ACH $0
Incoming Wire $0
Outgoing Wire N/A
(Available with Wise integration)
Transactions
Unlimited fee-free transactions
Unlimited fee-free transactions
Debit Card
Mercury Business Debit Mastercard
Novo Business Debit Mastercard
Credit Cards
Check Deposit
Bill Pay
3rd-party Integrations
Quickbooks, Venmo, Shopify, Cash App, Stripe, PayPal, and Expensify.
Stripe, Square, Paypal, Wise, Woocommerce, Amazon, Ebay, Etsy, Shopify, Xero, Quickbooks, Slack, Zapier, Google Sheets, and more.
Bottom Line
Why?
Mercury excels in the business sector with a comprehensive package that includes a competitive APY, a robust bill pay system, and diverse credit card options. Its feature-rich money management experience is designed to meet the multifaceted demands of modern businesses.
Novo distinguishes itself in business banking with its strong value proposition, especially through its impressive third-party integration capabilities. This makes it an ideal choice for businesses that prioritize seamless integration and digital financial management.
Editorial Score
Winner!
Mercury Vs. Novo
Novo and Mercury are two of the leading checking account providers for businesses, offering a range of financial services. Find the right fit for your business by comparing their features & benefits.
Advertiser Disclosure
Top10BusinessBanks is a free online resource meant to help users find the information they need in order to make a confident decision. We spend countless hours of research to find the most relevant content and present it in the most accessible way. However, please don’t view the information presented here as a recommendation from our end.
Please note:
- All the information displayed in this site is completely subjective. Moreover, we have broad editorial discretion as to the content we publish on the site and due to various reasons, the information you see may be incomplete and/or inaccurate. Please don’t hesitate to double-check the information we provide. It’s okay, we won’t be offended – on the contrary, we would love to hear your feedback!
- We’re able to offer this completely free-of-charge online resource thanks to the referral fees we receive from our partners (some of the companies listed on this site). While this may affect the location of these companies and the content we feature on the site, it’s not possible to purchase a favorable review or a position on this site.
General Details
Monthly Fee
$0
$0
Treasury
Up to 4.44%
Banking Partner
Evolve Bank & Trust® and Choice Financial Group; Members FDIC.
Middlesex Federal Savings, Member FDIC
FDIC Coverage
Up to $5,000,000
Up to $250,000
disclaimer
Mercury is a fintech company, not an FDIC-insured bank. Checking and savings accounts are provided through our bank partners Choice Financial Group, Column N.A., and Evolve Bank & Trust; Members FDIC. Deposit insurance covers the failure of an insured bank. Checking and savings account deposits may be held by sweep network banks. Certain conditions must be satisfied for pass-through insurance to apply
Editorial Score
Card
Fees & Charges
Minimum Balance
$0
$0
Overdraft Fees
$0
$0
Mandatory first deposit
$0
$50
Features
Wire Transfers
Incoming ACH $0
Outgoing ACH $0
Incoming Wire $0
Outgoing Wire N/A
(Available with Wise integration)
Transactions
Unlimited fee-free transactions
Unlimited fee-free transactions
Debit Card
Mercury Business Debit Mastercard
Novo Business Debit Mastercard
Credit Cards
Check Deposit
Bill Pay
3rd-party Integrations
Quickbooks, Venmo, Shopify, Cash App, Stripe, PayPal, and Expensify.
Stripe, Square, Paypal, Wise, Woocommerce, Amazon, Ebay, Etsy, Shopify, Xero, Quickbooks, Slack, Zapier, Google Sheets, and more.
Bottom Line
In the competitive arena of business checking accounts, Mercury takes the lead with its extensive business offer, including a feature-rich banking experience, competitive APY, versatile bill pay system, and credit card options. Novo, on the other hand, offers substantial value with its excellent third-party integration capabilities, catering to businesses seeking seamless digital financial management. Both present compelling choices, but with distinct advantages for different business needs.