Relay vs Mercury
Relay and Mercury are the two most popular free business bank accounts for freelancers and solopreneurs. Both have no monthly fees, no minimum balance, and solid accounting integrations. The choice comes down to your specific needs: Relay excels at cash flow management; Mercury shines for tech-forward businesses and yield.
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Relay
Best free business bank account with multiple sub-accounts
Starting at
Free
4.2
out of 5
View details →Mercury
Best business banking for LLCs and tech-forward freelancers
Starting at
Free
4.3
out of 5
View details →Feature-by-Feature Comparison
Criteria
Relay
Mercury
Sub-Accounts & Cash Flow
Up to 20 free sub-accounts. Create dedicated tax, savings, and expense buckets.
One main account + Mercury Treasury. Limited sub-account options.
Interest / Yield
Relay Savings earns competitive yield. Regular checking earns nothing.
Mercury Savings earns 4%+ APY. Checking also earns yield on balances.
Tech & API Features
Good integrations (QuickBooks, Xero) but limited API access.
API access, webhooks, programmatic banking — loved by developers.
LLC & Startup Features
Great for freelancers. Less focused on startups with investors.
Trusted by 100k+ startups. Investor-ready with VC-friendly features.
Budgeting & Tax Management
Automatic percentage routing to tax buckets. Built-in budgeting per account.
Manual tax management. Less built-in budgeting structure.
Verdict: It Depends
It's a tie — the winner depends entirely on what matters to you. Relay is the better choice if you want built-in cash flow management, multiple sub-accounts, and automatic tax buckets. Mercury wins if you want higher yield on your balance, API access, or a startup-focused banking experience.
Choose Relay if...
- ✓Freelancers who want to separate tax, savings, and operating funds
- ✓Anyone who struggles with cash flow management or quarterly taxes
- ✓Freelancers who want automatic percentage routing to savings buckets
- ✓Sole proprietors and LLCs who prioritize budgeting tools over yield
Choose Mercury if...
- ✓Freelancers with higher cash balances who want yield on their checking
- ✓Developers or technical freelancers who want API/webhook access
- ✓LLCs that may raise funding in the future
- ✓Freelancers who want the highest interest rate on business savings
Related Comparisons
Tax Information Notice
This content is for informational and educational purposes only. It does not constitute tax, legal, or financial advice. Tax laws change frequently. Always consult a qualified CPA or Enrolled Agent for your specific situation.