Mercury vs Wise Business: US banking or multi-currency?
Mercury is a US business account with free wires. Wise Business is a multi-currency account with low conversion fees. Many companies end up using both, which is the clue to the comparison.
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Search "Mercury bank vs Wise" and you find founders asking which one to choose. The two products answer different questions, so the useful comparison is about which money each one handles well. Figures below were read on both pricing pages on 4 November 2026.
The core numbers
| Mercury | Wise Business (US) | |
|---|---|---|
| To open | $0 | $31 one-time |
| Monthly | $0 base; Plus $29.90, Pro $299 | No monthly fee listed |
| Currencies with account details | USD | 22 |
| Receive a USD wire | $0 | $6.11 |
| Receive ACH | $0 | Free |
| Converted payment | 1% FX fee | From 0.23%, by currency |
| Card spend abroad | 3% FX fee | Free card payments; conversion applies |
What a month looks like
A US software company receives $60,000 from customers and pays $20,000 to developers in Europe.
- On Mercury, the European payroll goes out as converted wires: 1% of $20,000 is $200.
- On Wise, conversion on a major pair from 0.23% is about $46, though the rate varies by currency. If customers pay by wire, each incoming wire costs $6.11.
The cheaper one depends on the mix. Heavy USD wire volume favours Mercury. Regular conversion favours Wise.
What Wise does not do
Wise is light on team controls: approvals, many cards with limits and spend rules are basic compared with a startup account. It also does not offer US credit products, treasury or payroll.
What Mercury does not do
Mercury holds dollars only. A client in France has to pay you by international wire instead of SEPA, and a supplier in the UK receives sterling at a converted rate.
Paying into the United States: the local rail
| What | Detail |
|---|---|
| Local rail | ACH for batch payments; RTP and FedNow for instant transfers |
| Run by | Nacha for ACH; The Clearing House for RTP; the Federal Reserve for FedNow |
| Settlement | Same-day ACH within the business day, standard ACH the next; RTP and FedNow in seconds, 24/7, where both banks take part |
Source: Nacha: Same Day ACH. Checked when this guide was last updated; the scheme's own page has the current figures.
Where Rivet fits
Rivet puts both halves in one account: USD details for ACH and wires on the free Starter plan, and EUR and GBP details, local payouts to 120+ countries and FX from 0.50% on Growth, with cards, roles and approvals for the team. Scale lowers FX to 0.30%. Rates and fees show before you confirm. Rivet is not a bank; regulated partner institutions hold the funds. See Accounts or the best Wise Business alternatives.
Questions people ask
Should I use Mercury or Wise for my business?
If almost all your money is in US dollars, Mercury covers it. If you receive or pay in other currencies, Wise's conversion is cheaper than Mercury's 1%. Many companies hold Mercury for US banking and Wise for currency.
Does Wise Business have a monthly fee?
Wise Business US lists a one-time 31 USD setup fee and no monthly fee on its pricing page. Fees apply per conversion, per received wire and on some card uses.
Can I receive euros in Mercury?
Mercury holds US dollars. A euro payment sent to it is converted to dollars by the sending or receiving bank.
Is there one account that does both?
A multi-currency business account holds USD and other currencies side by side with local details for each. Rivet does that and adds cards and approvals for teams.
Sources
Alexia compares the accounts, cards and payment tools companies weigh before they switch, and writes Rivet's market guides for founders in a specific country. Prices in Alexia's comparisons come from each provider's own pricing page on the date given in the article, rules come from the regulator or tax authority that sets them, and every source is listed at the end.
More from Alexia M. →This article is general information, not legal, tax or financial advice. Rules and fees change; check the sources above and the provider’s current terms before you act on them.
- mercury vs wise
- wise business
- mercury bank
- multi-currency account
- fx fees
- comparison
