Question 1

Why Mercury over a traditional bank?

Accepted Answer

Built for startups. No fees, great UI, API access, integrates with everything. Traditional banks are slow, fee-heavy, poor digital experience.

Question 2

Is my money safe in a neobank?

Accepted Answer

Mercury uses partner banks (FDIC insured). Brex similar. Your deposits are protected. Check the specifics but generally as safe as any bank.

Question 3

What documents do I need to open an account?

Accepted Answer

EIN (or SSN for sole prop), incorporation docs, government ID. Process is online, usually approved in days. Have formation docs ready.

Question 4

Can I use Mercury without a US entity?

Accepted Answer

You need a US entity (Delaware C-corp common for international founders). Mercury, Brex work with VC-backed international startups with US entities.

Question 5

What about wire transfers?

Accepted Answer

Supported by all startup banks. Domestic free usually, international varies. Know your wire limits for investor funding.

Question 6

How does Mercury handle multiple accounts?

Accepted Answer

Easy to create multiple accounts for different purposes (operating, runway, taxes). Treasury products for yield on cash. Good for organization.

Question 7

What integrations should I expect?

Accepted Answer

Accounting (QuickBooks, Xero), payment processors (Stripe), expense management (Ramp). API access for custom integrations. Data exports.

Question 8

Should I keep runway in a separate account?

Accepted Answer

Good practice. Operating account for day-to-day, separate for runway/reserves. Some put in Treasury products for yield. Organizational clarity.

Question 9

What's the difference between Mercury and Brex?

Accepted Answer

Mercury is pure banking. Brex started with cards, added banking. Mercury generally simpler, Brex more features. Both good for startups.

Question 10

Can I get a debit card?

Accepted Answer

Yes. Most startup banks offer debit cards. But corporate credit cards (Ramp, Brex) often better—rewards, credit building, better controls.

Question 11

What about check deposits?

Accepted Answer

Mobile deposit supported. Rare need these days but available. Investor checks sometimes still happen.

Question 12

How is customer support?

Accepted Answer

Usually chat-based, fast. Startup banks generally better than traditional. Know your account manager for larger accounts.

Question 13

Should I have multiple banks?

Accepted Answer

Primary bank plus backup is wise. Especially for runway—FDIC limit is $250K, spread large balances. Mercury offers partner bank network for this.

Question 14

What about business loans?

Accepted Answer

Some startup banks offer lending products. Mercury has loans for funded startups. Rates vary. Not always the best option—consider all sources.

Question 15

Can I switch banks later?

Accepted Answer

Yes, but it's a hassle. Update payment methods, recurring transfers, vendor info. Choose wisely upfront. Migration takes a few weeks of parallel running.

I need a business bank account for my startup

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