Mercury Business Banking
Startup / multi-user digital ops — $0 monthly fee, free USD wires & ACH, no cash deposits, 0% checking APY
Primis Business Checking
$0 monthly + $1 open; pick 1% debit cash-back or 1.75% checking APY, plus 4.00% business savings — online nationwide, cash only in VA/MD footprint
Costs & Fees
| Metric | Mercury Business Banking | Primis Business Checking |
|---|---|---|
| Monthly maintenance | $0 on deposit accounts. Optional Plus ~$29.90–$35/mo; Pro $299/mo (software subscriptions, not DDA maintenance) | $0 unconditional on all three digital products |
| Fee waiver | N/A — core banking is $0 unconditional; Plus/Pro are optional paid software tiers | N/A — already $0; no balance or activity waiver needed |
| Transaction fees | No per-item fees on ordinary ACH, wires, checks. Unlimited USD ACH, domestic wires, USD intl wires (SHA), RTP (Column). | No per-item fees on digital line. Marketing 'unlimited transactions'; operational channel caps on ACH/wires/ATM apply (see limits). |
| Overdraft/NSF | $0 overdraft fee; overdrafts not permitted — items may be rejected. Persistent negative ≥30 days may trigger closure. | $0 NSF; $0 overdraft item; $0 return deposited item. Not an invitation to overdraw; bank may return items. OD protection not disclosed as priced product. |
| ATM fees | Mercury does not charge own ATM withdrawal fee (U.S.). Operator surcharge possible; business ATM rebate not confirmed on current help page. 3% FX on non-USD ATM cash. | Primis ATM $0. Any U.S. ATM — no Primis fee; foreign operator surcharge rebated (~15th of month; account must remain open). Daily ATM cash-out cap $550. |
| Wire/ACH | Incoming domestic: $0. Outgoing domestic: $0. Incoming intl: $0 from Mercury. Outgoing intl USD SHA: $0; USD OUR: $15; non-USD: 1% FX. ACH in/out: $0. Same-day ACH $0 if before 12pm PT and <$1M. | Incoming domestic wire $0 (+ originating-bank fee refund + $10 if requested within 30 days with docs). Outgoing domestic $5. Incoming intl $0. Outgoing intl $35 (FX markup not disclosed). App ACH in/out $0 but volume capped. |
Interest & Yields
| Metric | Mercury Business Banking | Primis Business Checking |
|---|---|---|
| Checking APY | 0.00% — non-interest-bearing (Column Exhibit 1, Aug 14, 2026) | Unlimited: 0% APY (1% debit cash-back reward). Pro: 1.75% APY on all balances, no tiers, no earnings limit. |
| Savings APY | 0.00% APY on business savings (0.001% rate; Column Exhibit 1). Not a high-yield account. | Business Savings: 4.00% APY on all balances; no account maximum on marketing. Separate account from checking. |
| FDIC coverage | Standard FDIC $250,000 per depositor per ownership category at Choice or Column | Standard FDIC $250,000 per depositor per ownership category at Primis Bank. Primis + 316 Financial + Panacea aggregate. |
Features & Access
| Metric | Mercury Business Banking | Primis Business Checking |
|---|---|---|
| Branch/ATM network | No branches. Mastercard chip ATMs for cash withdrawal only — $1,000/card/business day, $3,000 company-wide. No cash deposits. | 24 full-service VA/MD branches (YE2025). Any U.S. ATM for withdrawal — surcharge rebate on checking. Cash deposit at ATM implied Primis machines in VA/MD only. |
| Mobile app | Trustpilot 4.0 (~2,761 reviews); Google Play ~4.6 (~1.76k); App Store ~4.9 (CA listing) | Primis Digital Banking iOS ~4.6 (289 ratings); Android ~4.9 (~232 reviews). Legacy Classic Business Android ~3.0 (~29) — treat as deprecated. |
| Virtual cards | Included — physical + virtual debit with freeze, merchant lock, spend limits | Not disclosed |
| Opening deposit | $0 | $1.00 |
| Eligibility | U.S.-formed LLC, corp, partnership typical. EIN letter required. Trusts refused on business onboarding. International founders OK if U.S. entity and not in prohibited residence country. | Sole props and small business marketed. Entity list not fully published. Beneficial ownership information required. |
Pros & Cons
Mercury Business Banking
Pros
- $0 monthly, $0 min, $0 overdraft fee on deposit accounts
- $0 domestic wires, $0 USD intl wires (SHA), $0 ACH, $0 same-day ACH under $1M/12pm PT
- Sweep FDIC marketed up to $5M; RTP/FedNow-style rails $0 on Column accounts
- Strong multi-user, virtual cards, QBO/Xero/NetSuite feeds, bill pay, invoicing on free tier
- IO charge card 1.5% cashback, $0 annual fee (Patriot Bank; separate product)
Cons
- Business checking/savings APY 0.00% — yield requires Treasury ≥$250k (SIPC, not FDIC)
- No cash deposits at all; ATM cash-out capped $1k/card, $3k company
- Fintech + partner-bank stack; documented closure/freeze complaint pattern
- 3% card FX and 1% non-USD wire; Plus/Pro needed for advanced AP/AR automation
- Treasury wrap fee 0.15%–0.60%; Choice consent order and bank migration uncertainty
Primis Business Checking
Pros
- Unconditional $0 monthly, $0 NSF/OD, $0 item fees on digital line (12/1/2025 schedule)
- $1 opening; Pro 1.75% APY and Business Savings 4.00% APY with no balance tiers (stamp 7/1/2025; observed 9/1/2026)
- Incoming wires $0 plus originating-fee refund + $10 program
- Nationwide ATM surcharge rebate; automatic extra FDIC up to $2M on Business Savings
- V1BE free cash courier in Mid-Atlantic; real Virginia-chartered FDIC bank (Cert. 57968)
Cons
- Marketing 'no fees' conflicts with $5 domestic / $35 international outgoing wires and ancillary fees
- App ACH capped at $18,000/day and $100,000/month undercuts 'unlimited' claim
- Cash deposit regional only — VA/MD branches and V1BE, no national retail rail
- Integrations and multi-user controls thin vs specialist business banks; export-only QBO
- Digital products unavailable in PR/territories; reviews cite denials, freezes, hold friction
Verdict
Mercury Business Banking
Mercury is a fintech front end with deposits at Choice Financial Group and Column N.A. (FDIC), optional sweep to $5M. Core checking and savings have $0 monthly fee, $0 minimums, $0 overdraft fee, and $0 USD ACH/wires/RTP (Column). Checking and savings APY are 0.00%. Yield is separate Mercury Treasury (Apex/SIPC, 0.15–0.60% wrap) unlocked at $250k. Cash deposits not offered. Differentiator is startup-grade ops: multi-user permissions, virtual cards, QBO/Xero/NetSuite, bill pay, invoicing on free tier. Weak on 0% checking, no cash, partner-bank risk, and closure complaints. Do not treat Treasury yield as checking APY or Mercury as an FDIC member.
Primis Business Checking
Primis Bank (FDIC Cert. 57968) offers a digital trio: Unlimited (1% debit cash-back), Pro (1.75% APY), Business Savings (4.00% APY), each $1 to open and $0 monthly. Fee schedule (12/1/2025) prices outgoing wires at $5/$35 despite 'no fees' marketing. Channel limits bind before item fees: app ACH $18k/day and $100k/month. Savings auto-sweeps for up to $2M FDIC. Bill pay, positive pay, and cash-flow analytics included; not a full treasury stack. Strong yield-focused pick for modest-volume digital SMBs.