Mercury vs Relay for business banking (2026)

Verdict

Pick Mercury if you want $0 monthly checking, free USD wires, and a clean two-founder admin. Pick Relay if you will open buckets for tax, payroll, and operating and put debit cards on them. Both are fintechs with partner banks. Neither is a branch. We are not the FDIC.

Public fees as of September 20, 2026

Mercury: no required monthly fee on standard checking and savings. Paid software from $35/month for advanced workflows. Free ACH and free domestic / USD international wires on the published banking page. Confirm mercury.com/pricing.

Relay: Starter $0/month with published caps on accounts and cards. Grow and Scale around $30 and $120/month on public descriptions. Confirm relayfi.com.

• Both can be $0 to hold operating cash.
• Mercury’s paid $35 is software, not a maintenance fee to exist.
• Relay Grow is what you pay when Starter’s caps and approvals run out.

Admin vs envelopes

Mercury is a modern business account: wires, cards, multiple accounts, investor-shaped ops. Relay is envelope budgeting as a bank admin. If you will not open the extra accounts, Mercury is simpler. If Gusto should debit a dedicated payroll bucket, Relay is the philosophy.

Who should pick which

• Startup, wires, contractors abroad: Mercury.
• Owner who taxes-envelopes every Friday: Relay.
• Cash deposits: neither — see Chase on the LLC ranking.
• You want cards + AP as the product: compare Ramp/Brex too.
• Solopreneur pre-team: Found is on the startup checking list.