Mercury Accounting Review

Pros

• Free plan available
• Business banking with built-in accounting features
• Easy invoicing
• Integrates with popular accounting software
• Expense management features

Cons

• Not full accounting software
• Recurring invoices only available on paid plans

What Is Mercury Accounting?

Mercury Bank is a fintech company that has become popular with startup businesses for its online business checking and savings accounts, even earning it a spot on our list of best online business bank accounts. When you sign up for Mercury, you also get access to basic accounting features you won’t typically find with your bank.

While it doesn’t offer full-blown accounting software, Mercury does make it easy to track finances, manage expenses, send invoices, and pay vendors all from one platform. It won’t cover all of your accounting needs in most cases, but these built-in features are great to have, especially if your business needs a fee-free business checking account.

Mercury Accounting Pricing

Mercury has three monthly plans for its bank accounts, all of which include at least some basic accounting features.

Here’s a breakdown of what to expect from each plan.

Mercury

This standard account is free and includes:

• FDIC-insured checking & savings accounts¹
• Corporate debit & credit cards
• Online ACH, checks, & wires
• Unlimited bill payments
• Unlimited invoicing
• Reimbursements for up to five users per month
• Integrations with Xero & QuickBooks

Mercury Plus

This paid monthly plan includes everything from the base plan, plus:

• Recurring invoices
• Branded invoices
• ACH debits ($1 per transaction)
• Reimbursements for up to 20 users per month

Mercury Pro

This plan includes everything from Mercury Plus, as well as:

• Free ACH debits
• Reimbursements for up to 250 users per month
• Integration with NetSuite
• Relationship manager

On all plans, you can add on additional reimbursements for $5 per month per active user.

For basic invoicing and banking, you can’t beat Mercury’s base plan. However, to take advantage of all the accounting features Mercury has to offer, you’ll need to upgrade to Mercury Plus.

While the cost may seem a little steep when compared to other accounting options, you have to consider that Mercury offers business checking and savings accounts first and foremost — the accounting and expense tracking features are bonuses. If you’re looking for fee-free checking and savings with the benefit of built-in accounting features, Mercury is a solid choice.

Is Mercury Accounting Easy To Use?

Mercury’s accounting features are very easy to use. Your Mercury account can be accessed through the web or its apps for iOS or Android devices.

Adding contacts for paying bills or sending invoices is simple and straightforward. Creating an invoice is just as easy, even if you have no prior invoicing experience. Mercury’s platform is intuitive and easy to navigate. The same goes for making payments, as you can manually add a recipient or drag-and-drop bills for Mercury to automatically extract the recipient’s details.

From the platform, you can also view and categorize transactions, set up and manage employee cards, submit and approve expenses, and more. Mercury offers a free interactive demo that you can use to get hands-on with the platform before signing up.

Mercury integrates with Xero and QuickBooks on all plans. If you subscribe to Mercury Pro, you can also integrate with NetSuite. Additionally, Mercury integrates with payment processors like PayPal, Stripe, Square, and Shopify. A Slack integration is also available that allows you to view balances and approve payments right within Slack. API is available for developers.

There is also a Mercury for Accountants option that allows accountants to oversee multiple clients through a single portal. Benefits of this program include referral bonuses, a free subscription to Mercury Pro, and custom partnership opportunities.

Mercury Accounting Features

Because Mercury isn’t traditional accounting software, its features aren’t as robust as dedicated accounting options like QuickBooks Online. However, it does have a neat set of tools built into its banking platform that you won’t find with most other fintech companies or banks.

Here’s a more in-depth view of the features available through Mercury.

Mercury Accounting Customer Service

One of the downsides of Mercury is its limited customer support options. There is no phone support or live chat. Instead, you’ll have to submit all inquiries through email.

If you subscribe to Mercury Pro or have balances of $10 million or more, you’ll have a dedicated relationship manager.

Mercury does offer a few additional resources for the help you need, including a company blog called The Bottom Line, YouTube videos, and active profiles on X/Twitter, LinkedIn, Instagram, and TikTok.

Despite lacking some common contact methods, customers seem pleased overall with the quality of support they receive from Mercury. However, there are a few complaints regarding slow responses.

Mercury Accounting Reviews

Mercury receives mostly positive reviews online, although there are some complaints. One thing worth noting is that most of the complaints are centered on banking services and don’t specifically address Mercury’s accounting features.

Mercury is not accredited by the BBB, but it holds an A+ rating. It holds a rating of 4 out of 5 stars (based on 1,500+ reviews) on Trustpilot.

Negative Mercury Accounting Reviews & Complaints

• Sudden account closures
• Issues with logging in
• Long transfer times

Positive Mercury Accounting Reviews

• Good customer support
• Easy to use
• No monthly fees
• Good features and automations

Is Mercury Accounting Secure?

Security measures are in place to protect your personal data and accounts. Some of the security features Mercury offers includes:

• Multi-factor authentication
• Device verification and HIBP
• Dark web monitoring
• SOC 2 Type II compliance

Mercury is a financial technology (fintech) company. Banking services are provided by FDIC-insured banks, including Evolve Bank & Trust.

Final Verdict: Is Mercury Accounting Worth It?

Overall, Mercury receives a score of 3.6 out of 5 for its accounting features. While this may not seem promising on the surface, remember that Mercury is primarily known for its business checking and savings accounts with accounting features mixed in — combined, that makes for a pretty great product.

While you shouldn’t sign up for Mercury solely for the accounting features, it’s a great option if you need business checking and savings accounts. When integrated with QuickBooks, Xero, or NetSuite, it’s an even more powerful tool for your business. With its IO business credit cards, it’s also a great way to manage employee spending and simplify reimbursements — all while earning cash-back rewards.

If you’re looking for robust accounting software, we recommend looking elsewhere — starting with our list of the best accounting software for small businesses. However, if you want a platform that combines business banking, accounting, and expense management, Mercury is worth a look.

Accounting Software Review Methodology

We spend hours researching and evaluating each accounting software system we review at Merchant Maverick, placing special emphasis on key characteristics to generate our ratings.

When rating accounting and invoicing software, we use a 47-point rubric that looks at pricing, ease of use, features, customer service, and user reviews. We weigh each section differently to calculate the total star rating.

• Pricing: 30% of the total star rating
• Ease Of Use: 20% of the total star rating
• Features: 30% of the total star rating
• Customer Support: 15% of the total star rating
• User Reviews: 5% of the total star rating

Each section is further broken down into granular, weighted subsections, in which we examine specific attributes like relative cost, number of subscription tiers, data import, invoicing tools, quotes and estimates, client portal availability, bookkeeping support options, and the usability of the software interface. We also ensure that the software offers most standard accounting features and reports, awarding higher rankings to those that provide advanced services, like tax filing.

Read more about how we rate accounting software.

Need A Simple Accounting Solution?

FreshBooks	Start Trial Read our Review

This easy-to-use and feature-rich software is ideal if you have no bookkeeping experience and want top-notch customer support. Get Started.

Need A Simple Accounting Solution?

FreshBooks	Start Trial Read our Review

This easy-to-use and feature-rich software is ideal if you have no bookkeeping experience and want top-notch customer support. Get Started.