Brex vs. Mercury: Feature comparison for SMBs & startups

Small businesses and startups often find themselves stuck between a rock and a hard place when it comes to managing their finances. Traditional banks don't always meet their unique needs for business banking, while some fintech solutions can be overwhelming. 

Brex and Mercury have emerged as two popular banking solutions, but how do they stack up against each other? We'll compare these two platforms head-to-head in multiple aspects, as well as introduce you to a third option that might just be the perfect Brex or Mercury alternative for your company's cash flow management needs.

Brex vs. Mercury: Feature overview

Let's start by comparing the key features offered by Brex and Mercury:

Brex vs. Mercury: Finance management features

Brex and Mercury both provide financial tools to help businesses manage their day-to-day finances. Here are some features of each platform:

Brex

• Expense tracking: Brex uses AI to automatically match receipts to transactions, even in multiple currencies. It also flags any discrepancies between receipts and what was submitted, reducing the risk of errors or fraud.
• Customizable virtual cards: With Brex, you can issue virtual business credit cards to employees or vendors with built-in spend controls and limits that automatically enforce your company's policies. This helps prevent overspending and unauthorized purchases.
• Credit limit flexibility: Brex offers higher credit limits compared to traditional business cards by considering factors like your company's cash flow and spending patterns, not just credit scores. This can be useful for startups with limited credit history.
• Treasury management: Brex Treasury provides cash management options to help businesses earn yield on their idle funds, unlike many traditional banks.

Mercury

• No fees or minimums: Mercury doesn't charge any monthly fees, overdraft fees, or minimum balance requirements for their business checking accounts, making it an attractive choice for small businesses looking to cut costs.
• Real-time transaction tracking: Mercury's digital banking dashboard provides a real-time view of your account balances and transactions across all linked accounts, giving you a clear picture of your company's financial health at any given moment.
• Automated expense management: With Mercury, you can track and categorize expenses, capture receipts, and set up approval workflows to streamline your expense management process. 
• Treasury yields: Mercury treasury offers rates (up to 4.47%) through a money market fund structure, helping businesses earn on their deposits.

Brex vs. Mercury: Integrations

Both Brex and Mercury offer integrations with popular apps, but their ecosystem partners differ. Let's compare:

Brex 

Brex offers an extensive integration ecosystem that connects with:

• ERP/Accounting: NetSuite, QuickBooks (Online and Desktop), Xero, Oracle Fusion Cloud ERP, SAP Concur, Coupa Pay, Sage Intacct, Workday Financial Management, and others for financial modeling
• HRIS platforms: ADP Workforce Now, BambooHR, Gusto, Justworks, Rippling, Workday, TriNet, UKG, and more
• Automation tools: Workato, Zapier, Microsoft Teams, Slack, WhatsApp
• Authentication: Google Workspace, Microsoft Azure AD, Okta, 1Password

Brex also allows connection with systems that don't have direct integrations, making it suitable for businesses with complex software ecosystems.

Mercury 

Mercury, on the other hand, offers integrations with:

• QuickBooks and Xero for seamless accounting
• Oracle NetSuite for ERP and accounting

Mercury's integrations cater to small businesses and early-stage startups that rely on these tools to run their operations.

Mercury vs. Brex: Fee structures

One of the most important factors to consider when choosing a financial platform is its fee structure. Let's see how Brex and Mercury compare in this aspect:

Brex

• No transaction fees for sending domestic wires, international wires, ACHs, or checks from Brex business accounts
• Third-party banks may charge routing fees and recipient banks may charge processing fees for wire transfers
• No per-wire fees for international transfers in non-USD currencies, but Brex-selected foreign exchange rates will apply

Mercury

• No monthly fees or minimum balance requirements for the basic Mercury plan
• Free domestic wire transfers and USD international wire transfers 
• 1% conversion fee applies to non-USD international wires

Both Brex and Mercury offer banking solutions for startups and growing businesses with free base plans ($0/month). Brex structures its pricing per user ($0/user/month for essentials, scaling to $12/user/month for premium features), making it potentially economical for smaller teams needing advanced features. Mercury, meanwhile, uses flat monthly fees for its upgraded tiers ($35/month for plus and $350/month for pro), which might benefit companies with larger teams. 

Both services provide free domestic wires, ACHs, and check processing, though they differ in international transaction handling—Mercury charges a transparent 1% conversion fee for non-USD wires, while Brex applies its selected foreign exchange rates without specifying the percentage markup. The best choice ultimately depends on team size, feature requirements, and international transaction volume.

Brex vs. Mercury: Customer support

Here's how Brex and Mercury compare in terms of customer support:

Brex

• 24/7 live support via chat, email, phone, SMS, or WhatsApp for all users 
• Support specialists for admins and bookkeepers on Premium and Enterprise plans
• Comprehensive help center resources 

Mercury

• In-app support accessible via the the dashboard
• Phone and email support available
• Help center with searchable guides, FAQs, and troubleshooting resources organized by topic

While both companies offer multiple support channels, Brex has an advantage with its 24/7 live support across multiple channels (chat, email, phone, SMS, WhatsApp) and support specialists for premium and enterprise customers. Mercury offers standard support channels but doesn't provide more information in that regard.

Brex vs. Mercury: Card rewards and benefits 

Both platforms offer different approaches to rewards and benefits:

Brex

• Comprehensive rewards program with points-based cash back
• Multiple redemption options including travel, statement credit, and gift cards
• Exclusive partner deals and discounts to maximize your business banking value

Mercury

• Corporate credit cards with 1.5% cash back (with $25K balance minimum)
• Straightforward rewards structure without complicated categories
• Partner perks and rewards for various business services and online banking tools

Brex vs. Mercury: Pros and cons

To summarize, let's review the main advantages and disadvantages of Brex and Mercury:

Brex

Pros 

• Flexible credit limits based on cash balance and spending patterns 
• Expense tracking with AI-powered receipt matching
• Customizable virtual cards with built-in spend controls 
• Comprehensive integrations with enterprise software
• Business checking accounts with up to $6M in FDIC insurance through partner banks

Cons

• Brex cards cannot be used for cash deposits or ATM withdrawals
• Points redemption is limited to users with admin permissions only
• Dedicated support specialists only available for premium and enterprise customers
• Can’t fully automate reimbursements or approvals due to disconnected data
• Can’t view total burn rate or total costs in a single, consolidated dashboard

Mercury

Pros 

• No monthly fees or minimum balance requirements for the basic Mercury plan
• ATM access for cash withdrawals up to $1,000 per card per day and $3,000 daily across all cardholders
• Competitive yields (up to 4.47% APY) from Mercury treasury
• Physical and virtual debit cards with customizable spending limits

Cons 

• Geographic restrictions preventing account opening for founders living in numerous prohibited countries
• Inability to accept cash deposits at ATMs, requiring funds to be added via check, wire, or ACH only
• Advanced features like recurring invoicing and branded invoices require upgrading to paid plans

Brex vs. Mercury: Use cases

Based on their features and target customers, here are some common use cases for Brex and Mercury. 

Brex can support:

• Companies that need advanced expense management and approval workflows
• Businesses requiring multi-entity management, particularly with international operations
• Companies wanting comprehensive rewards programs with multiple redemption options
• Organizations that benefit from integrations with enterprise software like NetSuite

On the other hand, Mercury can support:

• Early-stage startups and small businesses seeking a no-fee banking experience
• Companies wanting ATM access for cash withdrawals (up to $1,000 per card daily)
• Businesses looking for high-yield options with Mercury treasury (offering up to 4.47% yield)
• Companies needing a simple, transparent fee structure with predictable costs

It's however important to carefully evaluate your business's current and future financial needs before committing to any platform.

Rippling: Easy expense management for startups and small businesses

While Brex and Mercury are both excellent choices for many businesses, Rippling offers a compelling alternative for corporate cards and expense management.

Rippling's corporate card program runs on the Visa network and features include:

• Physical and virtual cards that can be issued instantly based on employee attributes
• Hyper-custom spending policies with real-time enforcement
• Digital wallet compatibility with Apple Pay and Google Pay
• Automatic receipt matching via text message
• Global card issuance in local currencies

What sets Rippling apart is its integration with their broader platform, allowing you to automate the entire card lifecycle from issuing to revoking when employees leave. Rippling also includes expense management software, with features that automatically flag duplicates and catch receipt discrepancies, plus a mobile app where employees can manage expenses on the go.

For businesses looking to simplify financial operations, Rippling offers the advantage of combining corporate cards, expense management, and payroll in a unified system that syncs directly with your general ledger. This all-in-one approach can save you time and hassle by reducing the need to manage multiple separate systems.

Brex vs. Mercury FAQs

Is Brex better than Mercury?

It depends on your specific needs. Brex offers tiered plans with advanced expense management features and comprehensive rewards programs, making it well-suited for growing businesses with complex financial needs. Mercury provides a straightforward fee structure with ATM access and transparent pricing, making it appealing for early-stage startups and small businesses seeking simplicity.

Is Mercury a trustworthy bank?

Mercury operates as a fintech company that provides banking services through FDIC-insured partner banks. It offers up to $5M in FDIC insurance through sweep networks, with 97% of deposits insured. The company maintains SOC 2 Type II compliance and employs fraud monitoring systems with enforced multi-factor authentication.

What is the minimum balance for Brex?

For startups that have received venture funding or are part of an accelerator, Brex requires a minimum cash balance of $50,000. If you're providing bank statements to determine your credit limit, the minimum increases to $100,000. Some partner referrals may qualify for lower minimums. For applicants who haven't received funding but plan to in the future, or don't yet have $50,000, they may still qualify for a Brex business account with daily payments rather than monthly payments.

This blog is based on information available to Rippling as of ___PUBLISH DATE___.

Disclaimer: Rippling and its affiliates do not provide tax, accounting, or legal advice. This material has been prepared for informational purposes only, and is not intended to provide or be relied on for tax, accounting, or legal advice. You should consult your own tax, accounting, and legal advisors before engaging in any related activities or transactions.