Which neobank is most affordable for small businesses?

Novo and Mercury both offer free base tiers with no monthly fees. Novo is completely free with no minimum balance and includes ATM fee refunds. Mercury's base tier is also free and adds free domestic and international wires. Relay's free tier includes 20 checking accounts and team debit cards. Brex Essentials is free but requires a VC-backed business to qualify.

How to choose the right business banking platform for your needs?

Start by identifying your business structure and banking needs. Freelancers and sole proprietors benefit from Novo's simplicity and zero fees. Funded tech startups should choose Mercury for its API, free wires, and treasury features. Cash-flow-conscious businesses wanting fund separation should consider Relay's multi-account structure. VC-backed startups needing corporate cards and spend management should evaluate Brex.

How does Mercury compare to Brex for startups?

Mercury and Brex serve different primary needs. Mercury is a digital banking platform with free checking, free wires, and API access — best for day-to-day banking and cash management. Brex is a corporate card and spend management platform with AI expense automation — best for controlling spending globally. Many startups use both: Mercury for banking and Brex for cards. Mercury requires a formal business entity; Brex requires VC funding.

← Software Hub

Compare Software

Business & Accounting Software Personal Finance Software Digital Trading & Investment Platforms AI-Powered Financial Tools Business Banking & Neobanks Payment Processing & POS Insurance Comparison Platforms Tax Filing & Tax Software Investment & Trading Apps International Money Transfer Credit Cards & Credit-Building Tools Business Lending & Financing Digital Wallets

Select up to 4 software tools to compare side by side — pricing, features, pros and cons. Find the best fit for your needs with detailed side-by-side comparisons.

Verdict

The best business bank account depends on your business type and needs. Mercury is the top choice for funded tech startups that need API access and free wires. Novo is ideal for freelancers and sole proprietors who want completely free banking with e-commerce integrations. Relay is best for cash-flow-conscious small businesses that want multi-account fund separation. Brex serves VC-backed startups needing corporate cards and AI spend management.

Select tools:MercuryBrexNovoRelayArcGrasshopper BankBlueVine Business BankingFound

Feature	Mercury	Brex	Arc
Starting Price	Free · From $299/mo	Free · From $0/mo	Free
Base	Free	Free	Free
Mercury Pro	$299/mo	$12/mo	—
Best For	Small Biz	Small Biz	Small Biz, Enterprise
Regions	US	US	US
Platforms	Web, Ios, Android	Web, Ios, Android	Web, Ios, Android
Key Features	•Business checking and savings accounts with FDIC pass-through coverage •Free domestic and international wires on the base tier •Developer API with SDK support for automated banking workflows •Mercury Pro tier with NetSuite integration and dedicated relationship manager	•Global multi-currency corporate cards with virtual and physical issuance •AI-powered expense categorization and compliance rule engine •Custom expense policies with automated review (Premium tier) •Travel booking and expense management in one platform	•Multi-bank FDIC coverage up to $5 million through deposit sweeping •High-yield business checking and savings accounts •AI-powered cash flow forecasting and runway analysis •Corporate card with integrated expense management
Pros	+Developer-friendly API with SDKs makes it the best choice for tech-forward startups that want to automate banking workflows +Free domestic and international wires save significant costs compared to traditional banks that charge $15–$50 per wire +Fast and straightforward approval process for LLCs and Delaware C-corps — accounts open in days, not weeks	+Global multi-currency card issuance makes it ideal for startups with international contractors, remote teams, or overseas spending +AI-driven expense automation reduces manual reconciliation — transactions are categorized, flagged, and synced to accounting software +High credit limits tied to cash balance rather than personal credit history, which is crucial for early-stage startups with limited credit profiles	+Up to $5 million FDIC coverage through multi-bank sweep — essential for startups with large cash balances +High-yield rates on deposits competitive with money market funds +AI runway and burn rate analysis gives founders CFO-level visibility without a CFO
Cons	−No cash deposit support — Mercury is not suitable for businesses that handle physical cash −Does not serve sole proprietorships or unregistered businesses; you need a formal business entity (LLC, Corp) to open an account −Certain high-risk industries (crypto, cannabis, adult entertainment) are explicitly excluded during onboarding	−Per-user pricing ($12/user/month on Premium) scales up quickly as your team grows, making it expensive for larger teams −Dropped bootstrapped small-business customers in 2022 to focus exclusively on VC-backed startups — not accessible to most small businesses −Lacks core banking features like savings accounts, checking account functionality is limited compared to Mercury or Novo	−US only — no international banking −Newer platform with shorter track record than Mercury or Brex −Best suited for funded startups with significant cash balances — less valuable for bootstrapped businesses
Integrations	10+ integrations	10+ integrations	5+ integrations
Actions	Learn more Visit Website	Learn more Visit Website	Learn more Visit Website

Curated Comparison Guides

In-depth side-by-side comparisons of the most popular financial software tools.

Business & Accounting Software

quickbooks-online vs xero

QuickBooks Online is the better choice if you need deep inventory management, strong CPA integration, and advanced...

freshbooks vs wave

FreshBooks is the better choice if you need professional invoicing, time tracking, and client management with room to...

quickbooks-online vs wave

QuickBooks Online is the right choice if you need robust reporting, inventory management, and CPA-grade accounting...

zoho-books vs wave

Both have free tiers but serve different audiences entirely. Wave is US and Canada only — if you are outside North...

quickbooks-online vs sage-intacct

QuickBooks Online and Sage Intacct are not direct competitors — they serve fundamentally different business sizes and...

zoho-books vs xero

Both are globally available and both serve small to mid-size businesses — the choice comes down to ecosystem and...

Investment & Trading Apps

robinhood vs webull

Robinhood for beginners who want simplicity and an IRA with a contribution match. Webull for active traders who want...

robinhood vs etoro

Robinhood for US-only investors who want the cleanest, simplest self-directed trading experience. eToro for...

webull vs etoro

Webull for technically-driven active traders who want advanced charting and analysis tools. eToro for investors who...

fidelity vs charles-schwab

Fidelity is the better choice if you're a US-based beginner or retirement investor — zero expense ratio index funds...

charles-schwab vs interactive-brokers

Charles Schwab is the better choice if you want the best all-around brokerage experience — thinkorswim platform, 24/7...

fidelity vs interactive-brokers

Fidelity is the better choice if you're a US-based investor who values low costs, excellent IRA options, and a...

Business Banking

mercury vs brex

Mercury is the better choice if you need full-featured business banking — checking, savings, free domestic and...

mercury vs novo

Mercury is the better choice if you have a registered business entity (LLC or C-corp), need free domestic and...

mercury vs relay

Mercury is the better choice if you want a clean, single-account banking experience with free domestic and...

novo vs relay

Novo is the better choice if you are a solo founder, freelancer, or sole proprietor who wants completely free,...