Mercury vs Relay vs Bluevine: Business Banking 2026

Comparing Mercury vs Relay vs Bluevine comes down to how your business moves money. Mercury suits startups and online businesses that send wires and hold larger balances; Relay suits small businesses that want many sub-accounts for budgeting and Profit First; Bluevine suits owners who want interest on checking and the option to deposit cash or write checks. All three offer free starter plans and are fintechs backed by FDIC-insured partner banks rather than banks themselves.

Below, we compare 2026 plan prices, interest rates, FDIC coverage, wires, cash deposits and invoicing features, using each provider's own pricing pages checked in November 2026. Rates and fees change frequently, so treat the numbers as a snapshot and confirm before you open an account. If you are still deciding whether you need a separate account at all, read our guide to a business bank account for freelancers first.

Mercury vs Relay vs Bluevine at a glance

Feature	Mercury	Relay	Bluevine
Free plan	Mercury ($0)	Starter ($0)	Standard ($0)
Paid plans	Plus $29.90/mo, Pro $299/mo	Grow $30/mo, Scale $120/mo (discounted to $90 at the time of checking)	Plus $30/mo, Premier $95/mo (both waivable)
Interest	Treasury product, up to 4.10% with $250K+ balance	Savings APY 1.19% (Starter) to 3.21% (Scale)	Checking APY 1.3% (Standard, up to $250K, activity required) to 3.0% (Premier, all balances)
FDIC coverage via sweep	Up to $5M	Up to $3M	Up to $3M
Domestic wires	$0	Fee applies (reduced on paid plans)	Outgoing up to $15
International wires	USD free (OUR option $15); 1% FX fee for non-USD	Supported, fees apply	Supported, fees apply
Cash deposits	Generally not supported	Via retail partner network, fee per deposit	Via retail partner network, fee per deposit
Sub-accounts	Multiple accounts	20 checking accounts (50 on Scale)	Up to 50 sub-accounts
Invoicing	Free invoicing with card/ACH acceptance	Receivables tools on paid plans	Invoicing and bill pay tools
Best for	Startups, online and international businesses	Budget-focused small businesses and Profit First users	Interest on checking, check writers, cash deposits

Sources: Mercury pricing, Relay pricing (APYs as of 9/17/2026) and Bluevine business checking. All rates are variable.

Mercury: best for startups and wires

Mercury built its reputation with venture-backed startups, and its strengths still show that. Domestic wires and USD international wires are free on every plan, invoicing and bill pay are included, and balances can be spread across partner banks for up to $5 million in FDIC coverage. Larger balances can earn a treasury yield, which is an investment product rather than a deposit, so it is not FDIC insured.

Watch out for: a 1% currency exchange fee on non-USD wires and a 3% FX fee on non-USD card transactions, no meaningful cash deposit option, and an approval process that can reject some industries. Freelancers who bill international clients should compare FX costs with Wise; see our Revolut Business vs Wise comparison.

Relay: best for budgeting with sub-accounts

Relay's standout feature is account structure. Even on the free Starter plan you can open up to 20 checking accounts, plus debit cards per account, which makes it easy to separate operating money, payroll, tax reserves and owner pay. That fits the Profit First method neatly. Savings APY rises with the plan, from 1.19% on Starter to 3.21% on Scale.

Watch out for: checking balances do not earn interest, wire and same-day ACH fees apply on lower plans, and FDIC coverage up to $3 million depends on funds being placed through the sweep program.

Bluevine: best for interest on checking

Bluevine pays interest directly on checking. On the free Standard plan you earn 1.3% on balances up to $250,000 if you spend $500 a month with the debit card or receive $2,500 a month in customer payments. Plus and Premier raise the rate, with Premier paying 3.0% on all balances. The monthly fees on paid plans can be waived by meeting balance or spend requirements.

Watch out for: $1.50 per check sent through bill pay on Standard, outgoing wire fees, and the activity condition on Standard interest. Check that the waiver conditions are realistic for your balances.

Worked example: which account earns more?

Illustrative only, using the rates above and ignoring rate changes. A design studio keeps an average of $40,000 in operating cash and $30,000 set aside for taxes.

Setup	Monthly fee	Annual interest (approx.)	Net annual result
Bluevine Standard, all $70,000 in checking (activity met)	$0	$910 (1.3%)	$910
Relay Starter, $30,000 in savings at 1.19%	$0	$357	$357
Relay Grow, $30,000 in savings at 1.87%	$30	$561	$201 after $360 fees
Bluevine Premier, $70,000 at 3.0% (fee waived if requirements met)	$0 or $95	$2,100	$2,100 or $960

The lesson: paid plans only pay off with larger balances or features you will actually use. For the tax money itself, see our dedicated guide to a business savings account for tax money, and for spare cash beyond your emergency fund, Treasury bills for business are another option.

How to choose: a step-by-step checklist

1. List how you get paid: ACH, wires, card payments, checks, cash. Cash-heavy businesses should rule out Mercury as a primary account.
2. List how you pay: contractors by ACH, suppliers by check, international vendors by wire.
3. Estimate balances: average operating balance and tax reserves.
4. Check your industry is supported in each provider's terms.
5. Compare the real annual cost: plan fees minus interest, plus wire, check and cash deposit fees at your volumes.
6. Check integrations with your accounting software for bank reconciliation.
7. Keep a backup account at a second institution in case of a temporary freeze or review.

Common mistakes when picking an online business bank

• Chasing the highest APY while ignoring wire, check and FX fees that outweigh it.
• Assuming everything is FDIC insured. Treasury and money market sweep products are investments, not deposits.
• Using one account for everything. Separate tax money so you do not spend it.
• Forgetting cash. Retail deposit fees add up for cash businesses.
• Not putting bank details on invoices correctly. Our guide to bank details on an invoice covers routing numbers, account numbers and SWIFT codes.

Getting paid into your new account

Once your account is open, update every invoice template with the new account and routing numbers, and tell existing clients in writing; changed bank details are a classic invoice scam pattern, so clients may ask you to confirm by phone. For large invoices, compare wire transfer fees with ACH costs before choosing which method to request.

Who each account is not for

• Mercury is not ideal for cash-heavy businesses, owners who want a branch to visit, or anyone who mostly pays suppliers in foreign currencies, where the 1% FX fee on non-USD wires adds up.
• Relay is not ideal if you want interest on your main operating balance or send many wires on the free plan.
• Bluevine is not ideal if you cannot reliably meet the Standard plan's activity requirement, or if you need many free outgoing wires.

None of the three is a full replacement for a bank relationship if you need SBA loans, merchant services and local support in one place; our guide to SBA loans explains where traditional banks still help.

How to switch business banks without missing a payment

1. Open the new account and verify it fully before closing anything.
2. Move payment details in this order: payroll, tax payments (EFTPS or IRS Direct Pay), loans and leases, recurring vendors, then subscriptions.
3. Update your payment processor payout account and wait for one successful payout.
4. Update invoice templates, email signatures and your client portal with new details.
5. Email clients a signed notice of the change and invite them to confirm by phone.
6. Keep the old account open with a small balance for 60 to 90 days to catch stragglers.
7. Download all old statements before closing; you will need them for taxes and audits.

Account freezes and how to avoid them

Online banks run automated compliance checks, and unusual activity, such as a large incoming wire from a new country or many rapid transfers, can trigger a review that freezes the account for days. Reduce the risk by describing your business accurately at sign-up, keeping invoices and contracts for large payments ready to upload, and warning support before an unusually large transaction. Keeping a secondary account elsewhere means payroll and taxes can still go out if one account is under review.

Security features to compare

All three offer two-factor login, card freezing in the app and user permissions for team members. Before choosing, check whether you can require approval for outgoing payments above a set amount, restrict which team members can add new payees, and receive alerts for every outgoing transfer. Those controls matter more than they seem: business email compromise, where a fraudster impersonates a vendor and asks you to pay new bank details, is one of the most common ways small businesses lose money.

Verdict

Choose Mercury for free wires, startup tools and high FDIC coverage; Relay for many sub-accounts and budgeting discipline; Bluevine for interest on checking and check or cash flexibility. All three are capable, and the cheapest choice is the one that matches how money actually flows through your business. Whichever you pick, put the new account details on professional invoices made with our free invoice generator, with no sign-up required, and download them as PDFs ready to send.