Comparison
Wise Business vs Mercury
A side-by-side look at Wise Business and Mercury — pricing, regions, integrations, pros and cons. Use the recommender if you'd rather have an AI pick for you.
Wise Business
Send, hold and convert money in 40+ currencies.
Wise Business gives companies multi-currency accounts, local banking details in 10 currencies, and debit cards — at the mid-market FX rate.
Mercury
Banking built for startups.
Mercury is a tech-forward business bank for startups, offering checking, savings, treasury, debit cards and the IO charge card with up to 1.5% cashback.
Side-by-side
| Spec | Wise Business | Mercury |
|---|---|---|
| Tagline | Send, hold and convert money in 40+ currencies. | Banking built for startups. |
| Headquarters | London, UK | San Francisco, USA |
| Founded | 2011 | 2017 |
| Regions | Global, EU, UK, US | US |
| Card type | Mastercard debit | Debit + IO Credit |
| Pricing | One-off setup fee in some markets; usage-based FX. | Banking free; Mercury IO requires $25k+ avg balance. |
| Rewards | — | 1.5% cashback on Mercury IO. |
| Best for | Cross-border SMBs, Freelancers, Remote-first companies | US-incorporated startups, VC-backed companies, Remote founders |
| Integrations | Xero, QuickBooks, FreeAgent, Wave | QuickBooks, Xero, NetSuite |
Wise Business: pros & cons
- Cheapest FX in market
- Trusted global brand
- No credit
- Limited spend controls
Mercury: pros & cons
- Best banking UX for startups
- No monthly fees
- Strong treasury product
- US incorporation required
- Not a traditional bank — partner bank model