// Comparison — Tools
Mercury vs Relay vs Chase: Which Business Bank Account Do You Need?
Mercury and Relay are the fintech darlings. Chase is the legacy giant. All three work for business banking, but they're optimized for different stages and needs. Here's the honest comparison with no affiliate spin.
Fee Comparison
| Fee | Mercury | Relay | Chase Business Complete |
|---|---|---|---|
| Monthly fee | $0 Best | $0 Best | $15/mo (waived with $2K daily balance) |
| ACH transfers | Free, unlimited | Free, unlimited | Free (incoming), $0 (standard outgoing) |
| Domestic wires | $5 outgoing | $5 outgoing | $25 outgoing |
| International wires | $20 outgoing | Not available | $40–$50 outgoing |
| Cash deposits | Not available | Not available | $7,500 free/mo, then $0.25 per $100 |
| Debit card | Yes, virtual + physical | Yes, virtual + physical | Yes |
| ATM access | 55,000+ Allpoint ATMs | 32,000+ MoneyPass ATMs | 16,000+ Chase ATMs Branch access |
| Check deposits | Mobile deposit | Mobile deposit | Mobile + branch + ATM Best |
| Minimum balance | $0 | $0 | $0 (but $2K to waive fee) |
Feature Comparison
| Feature | Mercury | Relay | Chase |
|---|---|---|---|
| Multiple accounts | Unlimited sub-accounts | Up to 20 checking accounts Best for budgeting | Limited (separate applications) |
| Profit First support | Yes (sub-accounts) | Yes — built for it Best | No |
| Accounting integrations | QuickBooks, Xero, FreshBooks | QuickBooks, Xero, FreshBooks, Wave | QuickBooks, most major platforms |
| API access | Yes — developer-friendly Best | Limited | Limited |
| Team permissions | Granular roles and permissions Best | Role-based access | Basic authorized users |
| Virtual cards | Unlimited, custom spend limits Best | Up to 50 virtual cards | Not standard |
| Venture debt / credit | Mercury IO (credit line for funded startups) | Not available | Chase Ink business cards, SBA lending Best lending |
| FDIC insured | Up to $5M (sweep network) | Up to $246M (partner bank network) Best | $250K standard |
| Bill pay | Yes | Yes, with approval workflows | Yes |
| Interest on balance | Up to 4.6% APY (Treasury) | Up to 3.0% APY (savings) | Negligible |
| Application process | 100% online, approved in minutes | 100% online, approved in minutes | Online or in-branch, 1–3 business days |
Choose Mercury If:
→ You're a tech-savvy founder or startup
→ You want unlimited virtual cards with spend controls
→ You need API access for treasury automation
→ You want high-yield interest on idle cash (Treasury product)
→ You don't need cash deposits or branch access
→ You're a funded startup looking at venture debt
→ You want the best UI/UX in business banking
Choose Relay If:
→ You use Profit First or envelope budgeting (20 checking accounts)
→ You want the highest FDIC coverage ($246M through partner banks)
→ You're a small business that categorizes expenses by account
→ You want approval workflows for team spending
→ You don't need cash deposits, wires, or branch access
→ You want the simplest possible business bank setup
Choose Chase If:
→ You handle cash (retail, restaurants, service businesses)
→ You need branch access for deposits, notary, or in-person service
→ You want business credit cards (Chase Ink) with strong rewards
→ You need SBA lending relationships
→ You want your personal and business banking in one place
→ You receive checks frequently and want ATM deposit capability
→ You value the stability of a 200-year-old institution
The Bottom Line
Online-only business, no cash: Mercury for best features or Relay for simplest budgeting.
Cash-handling business: Chase. No alternative among these three.
Startup with funding: Mercury — best API, venture debt, treasury yield.
Small business, profit-first budgeting: Relay — 20 checking accounts, built for envelope method.
Need credit/lending relationship: Chase — Ink cards, SBA loans, established lending.
Most new LLCs: Open Mercury or Relay (free, instant) as primary. Open a Chase account later if you need cash deposits or want their credit cards.
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Disclaimer: This guide is for informational purposes only. Fees, features, and rates change frequently — verify current details on each provider's website. Links may include affiliate partnerships.