Mercury Mercury Tea Room
A plan byMercury
Data verified on unchanged since the sources
Worth it if you run a US company with idle cash: FDIC coverage up to $5M via sweep, free domestic wires and a Treasury yielding up to ~3.6% net.
Avoid it if you operate from Italy or need crypto and multi-currency: it is US-only, with a single fiat currency and no on-chain withdrawals.
Mercury is a business account offering FDIC coverage up to $5M via sweep, free domestic wires, the IO Card with 1.5% cashback, a Treasury yielding up to ~3.6% net (official figure as of 05/31/2026, for large balances) and free APIs. The limitations are significant: it is US-only, has no native crypto support, and its partner bank Choice Financial was subject to a federal consent order in 2023.
Mercury Tea Room
- Price
- Free
- Issuance fee
- Free
- FX markup
- 3%
- Cashback
- 1.5%
- Cashback currency
- USD
- Required staking
- Nessuno
- ATM fee
- 0%
- ATM limit
- Unlimited domestic ATM fee reimbursements; network withdrawal limits apply
- Net annual cost
- Free
- Requirement
- Balance >$500k
What's included
- Top APY
- Priority support
- Concierge treasury
uncapped (IO Card 1.5% cashback senza limite)
Data & conditions
| Account fee | Free |
|---|---|
| IBAN | condiviso |
| Multi-currency | No (single currency) |
| Outbound transfers to third-party IBANs | Yes |
| Utility direct billing | No |
| SEPA direct debit (SDD) | No |
| On-chain crypto withdrawal | No |
| Interest on balance | 3.61% |
| ATM withdrawal | Free |
| Free ATM limit | Unlimited domestic ATM fee reimbursements; network withdrawal limits apply |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | US · 1+ countries |
| Regulator | FDIC partner banks |
| OAM Italy registration | No |
| Segment | B2B |
| MiCA / License status | Banking partner (Choice Financial Group, Evolve Bank) FDIC (US) |
Strengths
- FDIC $5M via sweep; wire domestici free; IO Card 1,5% cashback; Treasury ~3.6% net APY; API free.
- No notable sovereignty advantage documented.
Weaknesses
- US only; no crypto; partner bank under scrutiny regulatory.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (FDIC (US)): reporting to authorities and freezes on order.
Verdict
Mercury tops the category thanks to FDIC coverage up to $5M via sweep, the only genuine deposit guarantee in the group, alongside free domestic wires, a Treasury yielding up to ~3.6% net and solid APIs. The top rating comes with three caveats, though: US-only availability and partner bank Choice Financial hit by a federal consent order in 2023.
Exactly what makes it so strong on protection makes it weak here: full KYC, a fully custodial account, no native crypto support and a single country of operation. Its rootedness in the US FDIC system is the opposite of censorship resistance and self-custody.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
Reputation
What happened to people who used Mercury, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
History not verifiedWe have not yet completed the incident search for this service: no entries here does not mean no events.
Public reviews
-
App Store ↗
4.9/5
12,537 reviews
iOS app 'Mercury | Bank Differently' (developer Mercury Technologies, Inc.), US storefront. Exact values from iTunes Lookup: 4.881 over 12,537 ratings.
Weighted average across 1 public review platform (12,537 reviews in total), weighted by volume. This is not our rating: it is those platforms’ average.
FAQ
Is Mercury a real bank?
Mercury operates under a Banking partner (Choice Financial Group, Evolve Bank) licence (US). It is regulated by FDIC partner banks. Fund protection: FDIC fino $5M via sweep.
Can I send transfers to third-party IBANs with Mercury?
Yes, Mercury allows outgoing transfers to third-party IBANs, like a traditional bank account.
Does Mercury support direct debits and utility billing?
SEPA direct debit (SDD): not documented. Utility-bill domiciliation: not documented.
Which fiat currencies does Mercury support?
Mercury supports 1 fiat currencies. Multi-currency accounts: not supported.
Can I withdraw crypto on-chain from Mercury?
On-chain crypto withdrawal is not documented; check the official website.
Sources
- Official service page Plans & pricing · Regulatory framework · Issuer · Savings interest · +6 Data verified on Jul 14, 2026
- crunchbase.com Company profile · Stock ticker · Stock listing · IPO date Data verified on Jun 15, 2026
- support.mercury.com Trust & safety · Plans & pricing · SWIFT fee Data verified on Jun 15, 2026
- americanbanker.com Regulatory framework Data verified on Jun 14, 2026
Show 5 more sources
- dfpi.ca.gov Regulatory framework Data verified on Jun 14, 2026
- nerdwallet.com Plans & pricing Data verified on Jun 14, 2026
- research.contrary.com Company profile Data verified on Jun 14, 2026
- rho.co Plans & pricing Data verified on Jun 14, 2026
- trustpilot.com Trust & safety Data verified on Jun 14, 2026