Question 1

What is the best business bank account for startups?

Accepted Answer

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.

Question 2

Which neobank is most affordable for small businesses?

Accepted Answer

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.

Question 3

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

Accepted Answer

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.

Question 4

How does Mercury compare to Brex for startups?

Accepted Answer

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.

Feature	Novo	Relay
Starting Price	Free	Free · From $30/mo
Free	Free	Free
Best For	Freelancers, Small Biz	Small Biz
Regions	US	US
Platforms	Web, Ios, Android	Web, Ios, Android
Key Features	•Completely free business checking with no monthly fees or minimum balance •Free ATM fee refunds up to $7 per month at any in-network ATM •Direct integrations with Stripe, Shopify, PayPal, and QuickBooks •Same-day ACH transfers (1.5% surcharge)	•Up to 20 individual checking accounts for fund separation by purpose •Up to 2 savings accounts with competitive APY •Team debit cards with per-account access controls •Relay Pro tier for faster ACH and outgoing wires from $30/month
Pros	+Simplest onboarding process for solo operators — apply online and get approved quickly with no minimum deposit +Free ATM fee refunds up to $7/month effectively eliminate ATM costs for most freelancers and sole proprietors +Strong e-commerce integrations with Stripe, Shopify, and PayPal make it a natural choice for online sellers and freelancers	+Multi-account structure (up to 20 checking accounts) is ideal for profit-first budgeting — separate accounts for taxes, payroll, operating expenses, and profit make cash management visual and intentional +Free tier is genuinely capable — 20 checking accounts, 2 savings accounts, and team debit cards at no monthly cost +Designed for cash-flow-conscious businesses with up to ~100 employees — scales beyond solo-founder tools like Novo
Cons	−No corporate card offering — only a debit card, which limits spend management and expense tracking capabilities −Minimal expense management features compared to dedicated tools like Brex or Ramp, with no AI categorization or policy controls −Not designed for multi-employee businesses — no team-based roles, no multi-user card controls, and no approval workflows	−Multi-account system can be more complexity than solo operators or freelancers need — Novo's simpler single-account approach is better for sole proprietors −Fewer advanced spend management features compared to Brex or Ramp — no AI categorization, no corporate card programs, no travel booking −Pro tier is needed for wire transfers and faster ACH, which are free on Mercury's base tier
Integrations	10+ integrations	10+ integrations
Actions	Learn more Visit Website	Learn more Visit Website

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