Mercury vs Novo: Which is Better in 2026?
Choosing between Mercury and Novo comes down to understanding what each tool does best. This comparison breaks down the key differences so you can make an informed decision based on your specific needs, not marketing claims.
Short on time? Here's the quick answer
We've tested both tools. Here's who should pick what:
Mercury
Business banking for startups. Open an account online in minutes
Best for you if:
- • You need something completely free
- • Banking built for startups
- • No monthly fees or minimums
Novo
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
Best for you if:
- • Offers a free online business checking account with no hidden fees.
- • Provides tools for invoicing, budgeting, expense management, and integrates with popular business apps.
| At a Glance |  Mercury |  Novo |
|---|---|---|
Starts at | FreeFree tier available | FreeFree tier available |
Best For | Finance | Finance |
Rating | 4.6/5 | 3.5/5 |
Free plan | Yes | Yes |
Choose Mercury or Novo?
Choose Mercury if
Business banking for startups. Open an account online in minutes
- No fees
- Great UX
- API access
- You want a fully free tool (Novo requires payment)
Choose Novo if
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
- Business banking for small businesses
- No hidden fees approach
- Integrates with business tools
| Feature | Mercury | Novo |
|---|---|---|
| Pricing Model | Free | Freemium |
| User Rating | ★4.6/5 143 reviews | ★3.5/5 11 reviews |
| Categories | FinanceAccounting | FinanceInvoicing |
In-Depth Analysis
Mercury
Business banking for startups. Open an account online in minutes
Strengths
- +No fees
- +Great UX
- +API access
Weaknesses
- -Limited credit options
- -US only
Key features
Novo
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
Strengths
- +Business banking for small businesses
- +No hidden fees approach
- +Integrates with business tools
- +Easy account setup
- +Mobile-first banking
Weaknesses
- -Limited to US businesses
- -No physical branch locations
- -Feature set still evolving
- -Deposit and transfer limits
- -May not suit all business needs
Key features
Pricing: Mercury vs Novo
| Plan | Mercury | Novo |
|---|---|---|
| Tier 1 | Free Business Banking | Free Free |
| Tier 2 | Free Treasury | N/A |
| Tier 3 | $240 Personal | N/A |
Pricing verified from each vendor's public pricing page. Compare in detail on Mercury pricing and Novo pricing.
Who Should Use What?
On a budget?
Mercury is free. Novo is freemium.
Go with: Mercury
Want the highest-rated option?
Mercury: 4.6/5 (143 reviews). Novo: 3.5/5 (11 reviews).
Go with: Mercury
Value user reviews?
Mercury: 143 reviews (4.6/5). Novo: 11 reviews (3.5/5).
Go with: Mercury
3 Questions to Help You Decide
What's your budget?
Mercury is free. Novo is freemium. Go with Mercury if free matters most.
What's your use case?
Both are finance tools. Compare their specific features to decide.
How important are ratings?
Mercury is rated higher: 4.6/5 vs 3.5/5.
Key Takeaways
Mercury
- Higher user rating: 4.6/5 vs 3.5/5
- Larger review base (143 reviews)
- Completely free
- Our pick for this comparison
Novo
- Choose if you want smarter online business banking solutions for small businesses and self-employed entrepreneurs
The Bottom Line
Mercury is our pick.
Frequently Asked Questions
Is Mercury or Novo better?
Mercury is rated in our evaluation. Mercury is free and Novo is freemium.
What are Mercury and Novo used for?
Mercury: Business banking for startups. Open an account online in minutes. Novo: Smarter online business banking solutions for small businesses and self-employed entrepreneurs..
What does Mercury cost vs Novo?
Mercury is completely free. Novo is freemium (free tier + paid plans). Visit their websites for detailed pricing.