# Mercury vs. Novo

> Mercury and Novo remove much of the fee friction associated with business checking, but their product choices reveal different ideal customers. Mercury is the stronger fit for a venture-backed company that needs team controls, corporate cards, accounting automation, treasury management or venture debt as it scales. Novo is tuned for freelancers, consultants, ecommerce sellers and other independent businesses that want free checking, integrated invoicing, payment-platform connections and simple cash buckets. The decision should follow the operating model, not a generic feature checklist.

## Achievements

- Mercury says more than 300,000 companies use its financial platform.
- Novo says more than 250,000 small businesses use its business checking platform.
- Mercury has extended beyond checking into treasury management, venture debt, corporate cards, invoicing and accounting automation.
- Novo says it natively integrates with more than 40 business tools and lets customers create up to 20 Reserves within checking.

## Latest updates

- **2026-07** — Mercury's Treasury page listed a minimum eligibility threshold of $250,000 across Mercury accounts and described balance-tiered advisory fees.
- **2026-06** — Novo updated its legal documents and fee schedule, reaffirming that it is a fintech and that deposit services are provided by Middlesex Federal Savings, F.A.
- **2026-06** — Mercury's pricing disclosures described free core business banking and optional paid financial-workflow plans.

## Links

- Website: https://mercury.com/
- LinkedIn: https://www.linkedin.com/company/mercuryhq

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Published by YesPress — https://yespress.io
Last updated: 2026-08-16