Holdings vs Mercury
Mercury is a great startup bank. Holdings gives you the same zero-fee banking plus built-in accounting, fund tracking, and bookkeeping — all included free.
Feature comparison
See how Holdings stacks up against Mercury
| Feature | Holdings | Mercury |
|---|---|---|
| Monthly Fees | Free | Free |
| APY on Deposits`, holdings: `${SITE_CONSTANTS.APY}%`, competitor: `Up to 4.25% (tiered) | ||
| FDIC Insurance | Up to $3M | Up to $5M |
| Built-in Accounting | ✅ Included free | ❌ Not included |
| Auto-Categorization | ✅ Included free | ❌ Not included |
| P&L / Balance Sheet | ✅ Included free | ❌ Requires QuickBooks |
| Unlimited Sub-accounts | ✅ Free | ✅ Free |
| Physical Debit Cards | ✅ Free | ✅ Free |
| Virtual Cards | ✅ Free | ✅ Free |
| Domestic Wires | Free | Free |
| Team Permissions | ✅ Included | ✅ Included |
| Bookkeeping Add-on | $100/mo | Not offered |
Why choose Holdings over Mercury
Accounting included at no extra cost
Mercury requires you to connect QuickBooks, Xero, or another tool for accounting. Holdings includes auto-categorization, P&L reports, balance sheets, and cash flow statements — all built in.
Built-in accounting & sub-account tracking
Holdings includes auto-categorization, P&L, and balance sheets out of the box. Track project budgets, client funds, or departmental spending with sub-accounts. Mercury has no built-in accounting.
One platform, not two
With Holdings, your banking and accounting live in the same system. No syncing, no imports, no reconciliation gaps between separate tools.
Get the Banking Switch Checklist
Thinking about switching? This 5-step checklist covers everything: what to migrate first, how to update payees, and how to keep operations running during the transition.
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When Mercury might be the better choice
Mercury may be a better fit if you need venture debt, treasury management for large balances, or if you're already deep in their ecosystem with Mercury Credit.
Frequently asked questions
Is Holdings really free like Mercury?
Yes. Holdings has zero monthly fees, zero minimum balances, and free domestic transfers — same as Mercury. The difference is Holdings also includes accounting software for free.
Does Holdings offer higher APY than Mercury?
Mercury offers up to 4.25% APY on tiered treasury balances. Holdings offers 1.75% APY on all deposits. If maximizing yield on large balances is your priority, Mercury's treasury product may offer higher rates.
Can I switch from Mercury to Holdings?
Yes. Open your Holdings account in minutes, then transfer funds at your own pace. You can run both accounts side by side during the transition.
Does Holdings have an API like Mercury?
Holdings offers banking and accounting through its platform. For API-driven treasury operations, Mercury currently offers more programmatic access.
Why would I choose Holdings over Mercury?
If you want banking AND accounting in one platform without paying for QuickBooks or Xero separately, Holdings saves you $30-80/mo on accounting software plus hours of manual reconciliation.
Mercury is great for VC-backed startups
If you want the same modern experience plus built-in bookkeeping and nonprofit tools, try Holdings free. Open your account in minutes — keep Mercury during the transition.
1.75% APY† • Zero fees^ • FDIC insured to $3M*