Axos vs Mercury: Which Is The Top Pick in 2025?

One key drawback of Axos is the presence of hidden fees, which can catch users off guard and lead to unexpected costs. For Mercury, a significant issue is the unreliability of the bank, with accounts being closed without prior notice, causing major disruptions.

Rho could offer a more efficient solution for businesses by integrating AP automation and banking products with advanced software to streamline financial processes.

Many businesses look to Axos and Mercury for their financial needs. However, choosing the right solution can be a complex task.

In this article, we’ll review what each solution offers and how they compare to help you make an informed decision. Additionally, we'll also explore Rho as a third option worth considering.

Axos Overview

Axos operates in the online banking sector, offering services for personal, business, and partner banking. Their main value proposition includes high APY on accounts, no monthly fees, and early paydays. Axos primarily serves individuals, small businesses, and strategic partners seeking comprehensive and secure online banking solutions.

Axos Features

Some of the key features of Axos include:

High APYs: Axos ONE® offers up to 4.66% APY on savings accounts.
Early Paydays: Faster access to funds compared to traditional banking.
No Monthly Maintenance Fees: No fees for maintaining checking and savings accounts.
Rate Watch: Email alerts for mortgage rate drops.

Axos Pricing

Axos offers a straightforward pricing structure without subscription tiers or packages.

Essential Checking: No monthly fees, unlimited domestic ATM fee reimbursements.
High Yield Savings: Up to 4.66% APY, no monthly maintenance fees.
Business Interest Checking: $10 monthly fee, 0.81% APY, 50 free items per month.

The prices for each tier are not publicly listed.

Drawbacks To Axos

General user reviews and feedback on Axos are generally negative, with frequent complaints about hidden fees and poor customer service. The overall rating is 2.8 out of 5.

"Stay away as much as possible, many hidden fees, after I pay 35 months everything on time online, last payment you have to make it over the phone to be charged 1% extra." - ioan m
"Initially, the loan officer was responsive, but after the appraisal came in lower than the offered price, they changed the down payment amount without approval." - Vancho

For more details, visit the Axos Reviews page on Trustpilot.

Mercury Overview

Mercury operates in the financial workflows category, offering online business banking services. Their main value proposition is "Powerful banking. Simplified finances." Mercury aims to streamline financial operations for startups, small businesses, and entrepreneurs, providing an efficient way to manage all financial tasks from a single dashboard.

Mercury Features

Some of the key features of Mercury include:

Speed without Compromise: Manage all banking and financial operations from a single dashboard efficiently.
Seamless Payments: Set auto-transfer rules and send free USD wires.
Credit Cards: Access credit cards early with low deposit minimums and earn 1.5% cashback on all spend.
Security: FDIC insurance up to 20× the industry standard, regulated partners, fraud monitoring, and strong account security protocols.

Mercury Pricing

Mercury offers a transparent pricing structure with three main subscription tiers.

Mercury: $0/month - FDIC-insured accounts, online ACH, wires, checks, debit and credit cards.
Mercury Plus: $35/month - All Mercury features, recurring invoicing, branded invoices, ACH debit transactions at $1 each.
Mercury Pro: $350/month - All Mercury Plus features, ACH debit transactions at $0 each, dedicated relationship manager.

Drawbacks To Mercury

Overall, Mercury is well-regarded for its user-friendly interface and supportive features for startups, though some users have experienced issues with payment processing and customer support.

"Mercury caters to startups and small business. The interface is great, allows for easy tagging of purchases to ease separation/filtering for tax purposes, and the support team (who I have only had to contact once in 2 years) is responsive and very friendly." - Robert R.
"For some reason, not all payments go through. This can be quite inconvenient because transactions take four days to process." - Evgeniya P.

For more details, visit the Mercury Reviews page on G2.

What to Know Before Picking Axos or Mercury

Looking at the reviews as a whole, businesses using Axos often face hidden fees and unauthorized changes to agreements, which can be quite frustrating. Poor customer service and non-responsiveness are also common issues that can disrupt business operations.

On the other hand, Mercury users frequently report problems with payment processing and slow customer support. Additionally, sudden account closures without clear reasons can cause significant disruptions, making it challenging for businesses to rely on Mercury for their financial needs.

Why Rho Is a Better Alternative

At Rho, we understand the frustrations businesses face with hidden fees, poor customer service, and unreliable payment processing. Our platform is designed to address these issues by offering transparent pricing, responsive support, and seamless financial operations. We strive to provide a reliable and efficient banking experience for all our clients.

Rho Features

Up to 2% Cashback: With Rho Platinum, businesses can earn up to 2% cashback¹ on their spending, providing a financial incentive that Axos and Mercury do not offer.
Zero Platform Fees for AP Automation: Rho's AP Automation allows businesses to pay hundreds of vendors in minutes without any platform fees, reducing operational costs significantly.
Real-Time Spend Monitoring: Our platform offers real-time spend monitoring with custom card controls, helping businesses prevent non-compliant spending and maintain better financial oversight.
Direct Software Integration: Rho integrates seamlessly with accounting, HR, and T&E software, streamlining financial operations and saving time on manual data entry.
24/7 Private Banking Support: We provide round-the-clock private banking support, ensuring that businesses can get assistance whenever they need it, unlike the limited support hours of Axos and Mercury.
Comprehensive Solutions for All Business Stages: Whether you're a startup, small business, or enterprise, Rho offers tailored solutions to manage cash, track expenses, and simplify accounting, supporting growth at every stage.

Rho Pricing

We offer a straightforward and transparent pricing structure that sets us apart from Axos and Mercury. Many of our core services are free to use, making it simple and cost-effective for businesses to manage their finances.

$0 Same-Day ACH fees: No charges for same-day ACH transactions.
$0 Wire fees: No charges for wire transfers, with some exceptions for international wires.
$0 Monthly plans: No monthly subscription fees for accessing our services.
$0 Support fees: Free live support from the first day of use.
$0 Subscription fees: No subscription fees for using our platform.
$0 Checking account minimum fees: No minimum balance fees for checking accounts.
$0 Connected, in-platform capabilities: Free access to AP, Expense, and Accounting Automation features.
$0 Per-user fees: No charges per user for accessing the platform.
1% Foreign currency transfer: A 1% fee on foreign currency transfers.

You can find all the details about our pricing here.

Why Users Love Rho

We’re proud of what we do, but we think our customers say it best. Take a look at why they prefer Rho over other options.

"It is easy to use, it saves time and eliminates stress." - Sean F. (Chief Financial Officer, Mid-Market)
"Centralized system that is easy to use for all levels of the organization with exceptional customer service." - Tyler M. (Chief Financial Officer, Small-Business)
"Rho offers our users a one-touch experience for reporting company expenses on a corporate card." - Kevin K. (Director of Marketing and Analytics, Mid-Market)

Want a firsthand look at Rho? You can request a free demo here.

Which Platform Is Right for Your Business?

Each platform—Axos, Mercury, and Rho—has its strengths. Axos offers high APYs and no monthly fees, while Mercury provides a streamlined dashboard and robust security features. However, both have drawbacks like hidden fees and slow customer support.

This is where Rho comes in. We offer up to 2% cashback¹, zero platform fees for AP automation, and 24/7 private banking support. Our seamless software integration and real-time spend monitoring make us a reliable choice for businesses at any stage.

Make the Smarter Choice with Rho Today

Curious to see what Rho can do for you? Discover how our platform can transform your business. Get started with Rho today.

Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank N.A., member FDIC. Savings account services provided by American Deposit Management Co. and its partner banks. International and foreign currency payments services are provided by Wise US Inc. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party. Products and services offered through the Rho platform are subject to approval.

The Rho Corporate Cards are issued by Webster Bank N.A., member FDIC pursuant to a license from Mastercard, subject to approval.

Investment management and advisory services provided by RBB Treasury LLC dba Rho Treasury, an SEC-registered investment adviser and subsidiary of Rho. Rho Treasury investments are not deposits or other obligations of Webster Bank N.A., or American Deposit Management Co.’s partner banks, are not FDIC insured, are not guaranteed and may lose value. Investment products involve risk, including the possible loss of the principal invested, and past performance does not future results. Treasury and custodial services provided through Apex Clearing Corp. and Interactive Brokers LLC, registered broker dealers and members FINRA/SIPC.

¹Up to 2% cashback; terms and conditions apply. See eligibility and complete Rho Cashback Rewards Program terms and conditions here.

This content is for informational purposes only. It doesn’t necessarily reflect the views of Rho and should not be construed as legal, tax, benefits, financial, accounting, or other advice. If you need specific advice for your business, please consult with an expert, as rules and regulations change regularly.