Novo vs Mercury: Which is Better in 2026?
Choosing between Novo and Mercury 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:
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.
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
| At a Glance |  Novo |  Mercury |
|---|---|---|
Starts at | Free tier + paid plansFree tier available | $240/moPersonal |
Best For | Finance | Finance |
Rating | - | - |
Choose Novo or Mercury?
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
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)
| Feature | Novo | Mercury |
|---|---|---|
| Pricing Model | Freemium | Free |
| User Rating | ★3.5/5 11 reviews | ★4.6/5 143 reviews |
| Categories | FinanceInvoicing | FinanceAccounting |
In-Depth Analysis
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
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
Pricing: Novo vs Mercury
| Plan | Novo | Mercury |
|---|---|---|
| Tier 1 | Free Free | Free Business Banking |
| Tier 2 | N/A | Free Treasury |
| Tier 3 | N/A | $240 Personal |
Pricing verified from each vendor's public pricing page. Compare in detail on Novo pricing and Mercury pricing.
Who Should Use What?
On a budget?
Mercury is free. Novo is freemium.
Go with: Mercury
Want the highest-rated option?
Neither has user reviews yet.
Go with: Novo
Value user reviews?
Neither has user reviews yet.
Go with: Mercury
3 Questions to Help You Decide
What's your budget?
Novo is freemium. Mercury is free. 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?
Neither has user reviews yet.
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 Novo or Mercury better?
Mercury is rated in our evaluation. Novo is freemium and Mercury is free.
What are Novo and Mercury used for?
Novo: Smarter online business banking solutions for small businesses and self-employed entrepreneurs.. Mercury: Business banking for startups. Open an account online in minutes.
What does Novo cost vs Mercury?
Novo is freemium (free tier + paid plans). Mercury is completely free. Visit their websites for detailed pricing.