Novo vs Mercury: Which The Top Pick in 2025?

Novo's Key Drawback: Poor customer support, including no live support and slow response times, is a significant issue for many users.

Mercury's Key Drawback: The sudden closure of accounts without prior notice or clear reasons has been a major concern for users.

Rho offers a more efficient solution by combining AP automation and banking products with advanced software, streamlining financial management for businesses.

Many businesses look to Novo and Mercury for their banking needs, each offering unique features tailored to modern entrepreneurs. 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.

Novo Overview

Novo offers online business banking solutions tailored for small businesses, self-employed individuals, freelancers, and consultants. Their main value proposition lies in providing a flexible platform that simplifies business management, aiming to help these customer types thrive without the usual growing pains associated with business expansion.

Novo Features

Some of the key features of Novo include:

Free Checking Account: No monthly fees or minimum balance requirements, providing a straightforward banking experience.
Easy Invoicing: Create and send invoices directly from the platform, streamlining the billing process.
Intuitive Budgeting: Allocate funds into different categories to manage expenses and savings effectively.
Real-Time Insights: Access up-to-date financial data to monitor your business's financial health.

Novo Pricing

Novo's pricing structure is straightforward, with no subscription tiers or packages.

Free Checking Account: No monthly fees, no minimum balance requirements.
Invoicing: Included with the free account, no additional cost.
Budgeting Tools: Included with the free account, no additional cost.

The prices for each tier are not publicly listed.

Drawbacks To Novo

General user reviews for Novo are mixed, highlighting both strengths and weaknesses.

"The ease of usage and that I have the ability to set up reserve accounts and automatically decide what percentage of all funds received go into those accounts." - Amanda S.
"Poor customer support, including lack of live support and ineffective chatbots, has been a significant issue." - Ken A.

For more details, visit the Novo Reviews 2025 page on G2.

Mercury Overview

Mercury provides online business banking solutions specifically designed for startups and small businesses. Their main value proposition is "Powerful banking. Simplified finances," aiming to transform financial management for these customer types through a streamlined and efficient online platform.

Mercury Features

Some of the key features of Mercury include:

Speed without Compromise: Manage banking and financial operations efficiently from a single dashboard.
Seamless Payments: Set auto-transfer rules and send free USD wires.
Early Access to Credit Cards: Access credit cards with low deposit minimums and earn unlimited 1.5% cashback.
FDIC Insurance: Up to 20× the industry standard in FDIC insurance through partner banks.

Mercury Pricing

Mercury offers a transparent pricing structure with subscription tiers designed to cater to different business needs.

Mercury: $0/month - Includes essential business banking features.
Mercury Plus: $35/month - Adds more reimbursements and invoicing power.
Mercury Pro: $350/month - Offers advanced workflows and dedicated support.

Drawbacks To Mercury

Overall, Mercury is well-regarded for its user-friendly interface and efficient banking solutions for startups, though some users have experienced issues with payment processing.

"Mercury caters to startups and small businesses. The interface is great, allowing 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 details, visit the Mercury Reviews 2025 page on G2.

What to Know Before Picking Novo or Mercury

Looking at the reviews as a whole, businesses using Novo often face delays in payment processing and issues with customer support. These challenges can disrupt cash flow and make it difficult to resolve urgent banking matters.

Similarly, Mercury users report slow customer support response times and occasional account closures without clear explanations. These issues can create significant operational hurdles, especially for startups relying on timely financial transactions.

Why Rho Is a Better Alternative

At Rho, we understand the frustrations businesses face with Novo and Mercury, such as slow customer support and payment processing delays. Our platform is designed to address these pain points, offering reliable customer service and efficient financial operations. We strive to provide a seamless banking experience tailored to your needs.

Rho Features

Rho Platinum: Our Rho Platinum card offers up to 2% cashback¹ on all purchases, providing a direct financial benefit that Novo and Mercury do not offer.
Expense Management: We eliminate the hassle of manual expense reports by capturing every receipt automatically, ensuring compliance and saving time for your finance team.
AP Automation: Our platform allows you to pay hundreds of vendors in minutes with zero platform fees, streamlining your accounts payable process and reducing errors.
Rho Treasury: Safeguard your idle cash and earn dynamic yield rates, optimizing your financial resources in ways that Novo and Mercury do not provide.
Integrations: Seamlessly integrate with your existing accounting, HR, and T&E software, enhancing operational efficiency and reducing manual data entry.
24/7 Support: Our dedicated support team is available around the clock, ensuring you have access to assistance whenever you need it, unlike the limited support options from Novo and Mercury.

Rho Pricing

We offer a straightforward and transparent pricing structure that sets us apart from Novo and Mercury. Our goal is to make financial management simple and cost-effective for your business.

Here are the key pricing details:

$0 Same-Day ACH fees: No charge for same-day ACH transactions, making it easy to move money quickly.
$0 Wire fees: No charge 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 fees charged per user, allowing your team to grow without extra costs.
1% Foreign currency transfer: A 1% fee on foreign currency transfers, ensuring competitive rates.

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)
"Rho offers our users a one-touch experience for reporting company expenses on a corporate card." - Tyler M. (Chief Financial Officer, Small-Business)
"Rho has worked very well for my company to help us properly communicate and regulate what we need and when we need it." - 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—Novo, Mercury, and Rho—has its strengths, catering to different business needs. Novo offers simplicity and no fees, while Mercury provides robust features for startups. However, both have limitations in customer support and payment processing.

This is where Rho comes in. We offer 24/7 support, up to 2% cashback¹ with Rho Platinum, and seamless integrations with your existing software. Our transparent pricing and advanced features like AP automation and Rho Treasury make us a superior choice for comprehensive financial management.

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.