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 | 1.75% | 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 |
| Fund Accounting | ✅ Included free | ❌ Not available |
| 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.
Fund accounting for restricted funds
If you manage grants, client funds, or designated accounts, Holdings tracks restricted vs. unrestricted balances natively. Mercury has no fund 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.
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.
Ready to switch?
Open your Holdings account in minutes. Keep your current bank during the transition — move at your own pace.
1.75% APY† • Zero fees^ • FDIC insured to $3M*