Holdings vs Mercury
Mercury is a great bank — but your readers still pay for QuickBooks on top and still close every month. Holdings replaces your bank (free), your spreadsheets, and your accounting software ($25/mo) with one product where the books are native, so there's no second tool and no month-end close.
Feature comparison
See how Holdings stacks up against Mercury
| What you get | Holdings | Mercury |
|---|---|---|
| 62 Free Tools | ✅ Free | ❌ Not included |
| Built-in Accounting | ✅ $25/mo | ❌ Not included |
| Invoice Generator | ✅ Free | ❌ Not included |
| Expense Tracking | ✅ Free | ❌ Not included |
| P&L / Balance Sheet | ✅ Real-time | ❌ Requires QuickBooks |
| Tax Calculators | ✅ $25/mo | ❌ Not included |
| Monthly Fees | Free | Free |
| APY on Deposits`, holdings: `${SITE_CONSTANTS.APY}%`, competitor: `Up to 4.25% (tiered) | ||
| FDIC Insurance | Up to $3M | Up to $5M |
| Unlimited Sub-accounts | ✅ Free | ✅ Free |
| Physical Debit Cards | ✅ Free | ✅ Free |
| Virtual Cards | ✅ Free | ✅ Free |
| Domestic Wires | Free | Free |
| Team Permissions | ✅ Included | ✅ Included |
| Built-in Accounting | ✅ $25/mo | Not offered |
Why choose Holdings over Mercury
Stop juggling 5 apps — tools, accounting, and banking in one place
Mercury is a bank. You still need QuickBooks, a spreadsheet for tracking, an invoice tool, and a tax prep app. Holdings replaces all of them — free banking + invoicing + tools, accounting $25/mo.
Your invoices auto-update your books
Send an invoice in Holdings and it automatically flows into your P&L, updates your balance sheet, and categorizes the income. No manual entry, no reconciliation.
Tax time takes 10 minutes, not 10 hours
Holdings auto-categorizes every transaction, generates real-time P&L and balance sheets, and includes tax calculators. Your books are always tax-ready.
Replace $100+/mo in software with a free platform
QuickBooks ($30-80/mo) + invoicing tool ($15-30/mo) + expense tracker ($10-20/mo) = $55-130/mo. Holdings includes all of it from $0/mo.
Mercury banks. But it can't keep your books.
Mercury is a strong bank, and it can categorize transactions and sync to QuickBooks or Xero. But it isn't the ledger of record — there's no double-entry general ledger inside Mercury. So you still buy and run a separate accounting system, and you still reconcile between two tools through a bank feed.
Mercury for the money, QuickBooks (or Xero) on top for the books — two logins, two bills, and a bank feed that syncs once or twice a day.
The bank is the books. Get paid free; with accounting ($25/mo) the payment reconciles into your P&L, balance sheet, and general ledger in the same system — no feed, no CSV.
Get the Platform Switch Checklist
Thinking about switching? This 5-step checklist covers everything: migrating accounts, setting up your tools, and getting your books connected automatically.
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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
I already have a bank — why do I need Holdings?
Holdings isn't just banking. It's 62 free tools, built-in accounting, invoicing, expense tracking, and tax calculators. Banking, invoicing, and the tools are free; full accounting ($25/mo) replaces your QuickBooks, your spreadsheets, and your bookkeeper — because the money and the books are the same product, there's no close to do.
Can I use Holdings tools without switching banks?
Yes. The free tools are free for everyone; full accounting is $25/mo. Banking is optional — you can connect your existing bank and still use Holdings as your financial platform.
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.
What tools are included free with Holdings?
Holdings includes 62 free tools: invoice generator, expense tracking, P&L and balance sheets, tax calculators, receipt capture, cash flow forecasting, and more. All free, all connected to your accounts automatically.
Ready to run your business from one place?
62 free tools. Free banking. Free invoicing. Accounting from $25/mo.
1.75% APY† • Zero fees^ • FDIC insured to $3M*