Bluevine vs. Mercury

In the comparison of Mercury vs. Bluevine, one of the biggest differences might be Bluevine’s plan types and APY offered. While Mercury does not offer APY in any of their accounts, we offer up to 3.0% APY, based on account type. The Standard plan earns 1.3% APY^BVSUP-00013 on checking balances that meet activity requirements, while Plus earns 1.75% APY^BVSUP-00014 and Premier earns 3.0% APY after a monthly fee.^BVSUP-00015

Bluevine and Mercury both offer ways to earn interest on your account. However, Mercury’s interest is earned in a savings account, while Bluevine allows you to earn interest directly in your checking account and sub-accounts, so you don’t need to transfer money between accounts to earn interest. Mercury’s checking account offers 0% APY—Bluevine Business Checking offers up to 3.0%, depending on account plan.^BVSUP-00184

Having a simple way to deposit cash into your checking account may be crucial to your business’s success. With Bluevine, you can easily deposit or withdraw cash from 120,000+ locations nationwide.^BVSUP-00110 While Mercury’s investor-focused features are suitable for some businesses, the road block of cash deposits may be a non-starter for your business.

Bluevine offers over-the-phone customer support to anyone who may need or want it—including applicants, account holders, and those with loans through us or our partners. You can also reach our customer support agents and account executives via email, and those with active accounts can chat with support via their Bluevine dashboard. In addition, our Premier customers get priority customer support via our phone line.^BVSUP-00119

Mercury offers frontline email support to customers, as well as live chat for those logged into active accounts. Mercury does not offer a phone number to reach its customer support team.

Both Mercury and Bluevine support a wide variety of customers, from solopreneurs to startups, and all sizes of small and growing businesses in between. However, Mercury tailors more of its offering toward startups, while the typical small business owner may find Bluevine suits their needs better. For example, Bluevine offers invoicing and Tap to Pay payments, which route directly to your Bluevine Business Checking account, high interest in that checking account, and lines of credit to help with cash flow for all qualified businesses.

However, Bluevine also offers solutions suitable for startups, including high interest on checking account balances, international wires with competitive rates, and cards for up to 50 team members. Your decision for a banking partner should be made based on your business’s needs, which may vary depending on your own preferences.

Required documentation may vary slightly depending on what type of entity your business is, but this information broadly falls into three categories:

• First, we’ll ask for some basic information to create your sign-in: your full name, email address, mobile phone number, and a secure password.
• Second, we’ll want to know about your business: trade name or DBA name, business address and phone number, EIN confirmation letter, annual revenue, entity type, and your industry.
• Third, we’ll want to learn about you and anyone who owns 25% or more of the business: home address and phone number, date of birth, SSN, and ownership percentage of the business. We may also ask for the front and back of your driver's license.

For a detailed breakdown of what you’ll need by entity type, click here.

We currently offer three Bluevine Business Checking plans: Standard, Plus, and Premier.

Our Standard plan comes with 1.3% APY for customers with qualifying activity,^BVSUP-00005 no monthly fees, a three-month free membership to Xero,^BVSUP-00181 and FDIC insurance up to $3 million through Coastal Community Bank, Member FDIC.^BVSUP-00056

With our Plus plan, you get all the great benefits of our Standard plan, and 1.75% APY,^BVSUP-00131 20% off most Standard payment fees, six months of Xero, and more for a waivable $30/month fee.

Finally, with our Premier plan, you’ll enjoy 3.0% APY on checking balances up to $3 million,^BVSUP-00116 50% off most Standard payment fees, six months of Xero, and access to priority customer support for a waivable $95/month fee.

Yes, Bluevine accounts are FDIC insured up to $3,000,000 per depositor through Coastal Community Bank, Member FDIC and our program banks. $3,000,000 in FDIC insurance is offered by multiplying the standard $250,000 FDIC coverage across multiple banks.^BVSUP-00108

While being a Bluevine Business Checking customer is not required to apply for a line of credit, if you open a business checking account you’ll be considered for all our weekly and monthly repayment plans.