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.
Bottom line: Mercury wins this matchup. BILL Spend & Expense ranks #1 on our Expense Management list. BILL Spend & Expense is the highest-listed Expense Management tool with a free plan. Pick Novo if you need a free tier to start with.
Short on time? Here's the quick answer
Based on published vendor pricing and features and on public review data, here's who should pick what:
Mercury
Business banking for startups. Open an account online in minutes
Best for you if:
- • You want a fully free tool (Novo requires payment)
Novo
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
Best for you if:
- • You want business banking for small businesses
| At a Glance | Mercury | Novo |
|---|---|---|
Starts at | Free 100% free | Free Free plan |
Category | Finance Accounting | Finance Invoicing |
Rating | 4.6/5 G2 4.4 · Capterra 4.8 182 reviews | 4.0/5 Trustpilot 4.2 · G2 3.5 4,812 reviews |
Free plan | Yes | Yes |
Watch out for | Personal tier is annual-only billing | n/a |
Choose Mercury or Novo?
Choose Mercury if
- You want a fully free tool (Novo requires payment)
- You want no fees
- You want great UX
Choose Novo if
- You want business banking for small businesses
- You want no hidden fees approach
In-Depth Analysis
Mercury
Business banking for startups. Open an account online in minutes
Mercury's Business Banking and Treasury tiers are exceptionally generous, offering core banking services and high-yield options for free.
Watch out
Personal tier is annual-only billing
Strengths
- Pro: No fees
- Pro: Great UX
- Pro: API access
Weaknesses
- Con: Limited credit options
- Con: US only
Key features
Novo
Smarter online business banking solutions for small businesses and self-employed entrepreneurs.
Novo's pricing is exceptionally generous, offering a completely free tier with no monthly fees or minimum balance requirements.
Strengths
- Pro: Business banking for small businesses
- Pro: No hidden fees approach
- Pro: Integrates with business tools
- Pro: Easy account setup
- Pro: Mobile-first banking
Weaknesses
- Con: Limited to US businesses
- Con: No physical branch locations
- Con: Feature set still evolving
- Con: Deposit and transfer limits
- Con: 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.
Key Takeaways
Mercury
- Higher user rating: 4.6/5 vs 4.0/5
- Completely free
- Our pick for this comparison
Novo
- Larger review base (4,812 reviews)
The Bottom Line
Mercury wins this matchup. BILL Spend & Expense ranks #1 on our Expense Management list. BILL Spend & Expense is the highest-listed Expense Management tool with a free plan.
Frequently Asked Questions
Is Mercury or Novo better in 2026?
Mercury wins this matchup. BILL Spend & Expense ranks #1 on our Expense Management list. BILL Spend & Expense is the highest-listed Expense Management tool with a free plan. Pick Mercury for finance workflows (main strength: no fees). Pick Novo for finance workflows (main strength: business banking for small businesses).
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's paid plans start at Free (Personal). Novo pricing is on their site.
What's the main difference between Mercury and Novo?
Mercury's main strength: no fees. Novo's main strength: business banking for small businesses.