Mercury vs Relay: Which The Top Pick in 2025?

Many businesses look to Mercury and Relay for their financial management 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, helping you make an informed decision. Additionally, we'll also explore Rho as a third option worth considering.

Mercury Overview

Mercury operates in the online business banking sector, specifically targeting startups and small businesses. Their main value proposition is "Powerful banking. Simplified finances." They aim to streamline financial operations for entrepreneurs, founders, and companies seeking efficient and advanced banking solutions.

Mercury Features

Some of the key features of Mercury include:

• Speed without Compromise: Efficiently manage banking and financial operations from a single dashboard.
• Seamless Payments: Set auto-transfer rules and send free USD wires.
• Credit Cards: Unlock credit cards with low deposit minimums and earn cashback.
• FDIC Insurance: Get up to 20× the industry standard in FDIC insurance through partner banks and sweep networks.

Mercury Pricing

Mercury offers a range of subscription tiers to cater to different business needs:

• Mercury: $0/Month - FDIC-insured accounts, online ACH, wires, checks, debit & credit cards, up to 4.47% yield, unlimited bill payments, invoice generation, reimburse up to 5 users/month, Xero and QuickBooks integrations.
• Mercury Plus: $35/Month - Everything in Mercury, recurring invoicing, branded invoices, ACH debit ($1/transaction), reimburse up to 20 users/month (+ $5/additional user), Xero and QuickBooks integrations.
• Mercury Pro: $350/Month - Everything in Mercury Plus, ACH debit ($0/transaction), reimburse up to 250 users/month (+ $5/additional user), NetSuite integration, dedicated relationship manager (guaranteed at $10M+ balance).

The prices for each tier are publicly listed.

Drawbacks To Mercury

General user reviews of Mercury highlight its user-friendly interface and ease of account creation. However, frequent complaints include customer support issues and account reliability.

• "Mercury caters to startups and small business. The interface is great, allows for easy tagging of purchases to ease separation/filtering for tax purposes." - 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 detailed reviews, visit Mercury Reviews on G2.

Relay Overview

Relay operates in the online business banking sector, focusing on small business owners, accountants, and bookkeepers. Their main value proposition is providing users with complete control over their earnings, spending, and savings. This is achieved through features like multiple checking accounts, high-yield savings accounts, and seamless integrations with accounting software.

Relay Features

Some of the key features of Relay include:

• Business Checking: Know precisely what you’re earning, spending, and saving.
• Business Savings: Automated savings that earn you up to 3.03% APY.
• Expense Management: Capture receipts, categorize expenses, and close your month-end faster.
• Accounts Payable: Review, approve, and pay bills within business banking.

Relay Pricing

Relay offers two main subscription tiers:

• Relay: $0/month - No account fees, up to 20 checking accounts, physical/virtual cards, ACH, check, wire payments, ATM withdrawals, cash deposits, QuickBooks and Xero integration.
• Relay Pro: Starting at $30/month - Everything in Relay, plus same-day ACH, free domestic wires, discounted international wires, bill auto-import, approval rules, consolidated payments.

Drawbacks To Relay

Overall, Relay Financial has a generally positive consensus, with users appreciating its helpful customer service and ease of use, though some express concerns about its core banking features.

• "Relay is the real deal. I was skeptical that an internet bank could be this helpful and useful, but they are for real. I'm pleasantly surprised with how easy the service is to use." - Cecelia Wren
• "Not trustworthy, ACH timelines are a mess, customer service is great (during business hours) but the banking which is the core product is questionable for the following reasons - You need pro to use this bank account - ACH timelines do not get met - Currency Conversion is probably not good enough." - S Menon

For more detailed reviews, visit Relay Financial Reviews on Trustpilot.

What to Know Before Picking Mercury or Relay

Looking at the reviews as a whole, businesses using Mercury often face approval issues and poor customer support. Transactions can be slow, sometimes taking up to four days to process, and sudden account closures without clear reasons can disrupt operations.

For Relay, common limitations include unmet ACH timelines and delays in international wire transfers. Some users also report issues with currency conversion and occasional unlawful withholding of funds, which can be frustrating for businesses relying on timely access to their money.

Why Rho Is a Better Alternative

At Rho, we understand the frustrations businesses face with Mercury and Relay, such as slow transactions and unreliable customer support. Our platform is designed to address these issues by offering faster processing times, dependable service, and comprehensive financial tools, ensuring a smoother and more efficient banking experience for your business.

Rho Features

• Rho Platinum: Our Rho Platinum offers up to 2% cashback¹ on banking and card usage, helping businesses reduce overall costs and reinvest savings into growth opportunities.
• Expense Management: We eliminate the need for manual expense reports by capturing every receipt automatically, ensuring compliance and reducing administrative burdens.
• AP Automation: Our platform allows you to pay hundreds of vendors in minutes with zero platform fees, streamlining your accounts payable process and saving valuable time.
• Rho Treasury: Safeguard your idle cash with our dynamic interest rate, maximizing returns and improving your financial efficiency.
• 24/7 Private Banking Support: We provide round-the-clock customer support, ensuring you have access to assistance whenever needed, enhancing operational reliability.
• Seamless Integrations: Our platform integrates with accounting, HR, and T&E software, simplifying your financial management and ensuring all your systems work together seamlessly.

Rho Pricing

We offer a straightforward and transparent pricing structure that sets us apart from Mercury and Relay. Our goal is to make financial management simple and cost-effective for your business. Many of our essential services are free to use, ensuring you can focus on growth without worrying about hidden fees.

• $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 day one without any additional charges.
• $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 fee: A flat 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.

• "Centralized system that is easy to use for all levels of the organization with exceptional customer service." - Sean F.
• "Rho offers our users a one touch experience for reporting company expenses on a corporate card." - Tyler M.
• "Now that our company has switched over to Rho for tracking our expenses, I don't put off waiting until the end of the month to submit my expenses." - Kevin K.

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

Which Platform Is Right for Your Business?

Each platform—Mercury, Relay, and Rho—has its strengths, catering to different business needs. Mercury offers streamlined financial operations, while Relay provides comprehensive control over earnings and expenses. However, both have limitations like slow transactions and unreliable customer support.

This is where Rho comes in. We offer faster processing times, 24/7 private banking support, and seamless integrations with accounting software. Our transparent pricing and robust features like AP automation and dynamic interest rates make us a superior choice for businesses seeking efficiency and reliability.

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.