Best bank for startups in 2026
Most of the accounts startups open today are not at a bank, strictly speaking. Mercury, Brex, Relay, Bluevine and Novo are technology companies: your money is held at partner banks, and larger balances are spread across networks of banks to stretch FDIC coverage well beyond the standard $250,000.
This page compares the five on what founders check first: monthly fees, FDIC coverage, yield on idle cash and payment fees. Every number comes from the provider's own pages as read on November 13, 2026. Fees and rates change often, so confirm them on the provider's site before you open an account.
Quick picks
- Mercury: the strongest free all-round account. $0 base plan, free domestic and USD international wires, up to $5M of FDIC coverage through partner banks.
- Brex: for funded startups that want yield from the first dollar. Treasury yields start at 4.01% with no minimum, and deposits get up to $6M of FDIC coverage.
- Relay: for splitting cash into many accounts. 20 checking accounts on the free plan and up to $3M of FDIC coverage.
- Bluevine: for interest on a small checking balance. 1.3% APY on up to $250,000 on the free plan, if you meet a monthly activity requirement.
- Novo: a simple free account for very small businesses. No monthly fees, no minimum balance, up to $5M of FDIC coverage.
Comparison at a glance
| Provider | Monthly fee | FDIC coverage on deposits | Yield on idle cash | Payments | Partner bank |
|---|---|---|---|---|---|
| Mercury | $0 (Plus $29.90, Pro $299) | Up to $5M | Treasury, from a $250K balance: 3.32%–3.82% at $250K–$2M, targets up to 4.21% above $20M (net of fees, as of Nov 6, 2026) | Domestic and USD international wires $0; ACH $0; 1% FX fee on non-USD wires | Choice Financial Group, Column N.A. |
| Brex | $0, no minimums | Up to $6M | Treasury, no minimum: 4.01% (up to $500K) to 4.36% ($20M+) | Unlimited free same-day ACH | Column N.A. (checking) |
| Relay | $0 (Grow $30, Scale $90 at limited-time prices; Scale normally $120) | Up to $3M | Savings: 1.19% / 1.87% / 3.21% APY by plan (as of Sep 17, 2026) | Free same-day ACH on Scale; wire fees not listed on the pricing page | Thread Bank |
| Bluevine | $0 (Plus $30, Premier $95) | Up to $3M | Checking: 1.3% APY up to $250K with activity requirement; 1.75% on Plus (up to $250K); 3.3% on Premier | Standard ACH free; same-day ACH up to $10; outgoing wires up to $15 | Coastal Community Bank |
| Novo | $0, no minimums | Up to $5M | No interest published; cashback on purchases instead | Free standard ACH | Middlesex Federal Savings, F.A. |
FDIC figures are each provider's stated maximum through its partner and program banks; conditions apply. Treasury products are investments, not deposits, and are not FDIC insured (see the next section).
What FDIC coverage does and doesn't cover
The FDIC insures deposits up to $250,000 per depositor, per insured bank, for each account ownership category. Startup banking platforms reach $3M to $6M by sweeping balances above that limit across many program banks, so that each slice stays under the limit at its bank.
Two limits matter:
- The platform itself is not insured. In the FDIC's words, "nonbank companies themselves are never FDIC-insured," and deposit insurance "does not protect against the insolvency or bankruptcy of a nonbank company." Coverage through a platform, called pass-through coverage, also depends on records that identify who owns the money and how much each person owns.
- Treasury is an investment, not a deposit. Mercury Treasury invests in two mutual funds and individual US Treasuries through Mercury Advisory LLC, an SEC-registered investment adviser. Brex Treasury invests in a government money market fund through Brex Treasury LLC, a broker-dealer. Both are covered by SIPC rather than the FDIC; funds are not bank deposits and their value is not guaranteed.
The five accounts in detail
Mercury
Mercury's base plan has no monthly fee, no minimum balance and no overdraft penalties. Domestic wires, USD international wires and ACH transfers are free; a non-USD international wire carries a 1% currency exchange fee. If you choose to pay the recipient bank's fees on a USD international wire (the OUR option), Mercury charges a flat $15. Paid plans add invoicing features and support: Plus costs $29.90 a month and Pro $299 a month, with a relationship manager. Its corporate credit card pays 1.5% cashback.
Mercury describes itself as "a fintech company, not an FDIC-insured bank"; banking services are provided through Choice Financial Group and Column N.A., and balances are swept across partner banks for up to $5M of FDIC coverage. Cash above $250,000 can go into Mercury Treasury. On November 6, 2026 it showed net yields of 3.32% to 3.82% for balances between $250,000 and $2M, depending on the option, and it targets net returns of up to 4.21% for balances above $20M. Treasury charges a fee of 0.15% to 0.6% depending on total deposits; the yields shown are net of that fee.
Good fit: startups that send wires, including USD wires abroad, and want a free account that scales. Watch out for: Treasury only opens at $250,000, and the 4.21% headline applies to balances above $20M.
Brex
Brex's business account is free to open, with no monthly fees, no account minimums and unlimited free same-day ACH. Brex says the account is built for startups that have raised or plan to raise funding, and for established growing companies. Capital One completed its acquisition of Brex on April 7, 2026, and Pedro Franceschi continues as Brex's CEO.
Checking deposits are held at Column N.A., and money kept in Brex's Vault is spread across program banks for up to $6M of FDIC coverage. Brex Treasury invests in the Dreyfus Government Cash Management Fund, with yields shown from 4.01% for balances up to $500,000 to 4.36% above $20M, and no minimum deposit. Brex's spend management software is priced separately: Essentials is $0 per user and Premium $12 per user per month.
Good fit: funded startups that want yield on idle cash long before they reach $250,000. Watch out for: the account is aimed at funded or established companies, and the page with Treasury yields does not show the date they refer to.
Relay
Relay's free Starter plan includes 20 checking accounts and unlimited users, which suits founders who split money into separate accounts for payroll, taxes and operating costs. Paid plans raise the savings rate and add automation: Grow costs $30 a month and Scale $90 a month at limited-time prices, with Scale normally listed at $120.
Savings earned 1.19% APY on Starter, 1.87% on Grow and 3.21% on Scale as of September 17, 2026; rates are variable. Credit card cash back is 1%, 1.25% and 1.5% by plan. Relay states that it "is a financial technology company and is not an FDIC-insured bank"; banking services are provided by Thread Bank, and deposits qualify for up to $3M of FDIC coverage through its sweep program.
Good fit: small teams that budget with many sub-accounts. Watch out for: the best savings rate needs the Scale plan, and wire fees are not listed on Relay's pricing page.
Bluevine
Bluevine pays interest directly on checking. On the free Standard plan you earn 1.3% APY on balances up to $250,000 in months when you spend $500 with the Bluevine debit card or receive $2,500 in customer payments. Plus ($30 a month) pays 1.75% on up to $250,000 without that requirement, and Premier ($95 a month) pays 3.3% on all balances. Bluevine shows a fee-waiver option for both paid plans.
Standard ACH is free; same-day ACH costs up to $10 and outgoing wires up to $15. Bluevine states that it is not a bank; accounts are insured up to $3M per depositor through Coastal Community Bank and its program banks. There is no minimum balance or minimum credit score.
Good fit: founders who keep a modest balance and want interest without moving money into an investment product. Watch out for: wire and same-day ACH fees if you pay vendors often.
Novo
Novo has no monthly fees and no minimum balance, and standard ACH is free. Novo describes itself as "a fintech, not a bank"; deposits are held at Middlesex Federal Savings, F.A. and insured up to $5M per depositor through its sweep network. Instead of interest, Novo pays cashback on eligible purchases: 2% when your balance is $5,000 or more, 1% below that.
Good fit: solo founders and very small businesses that want a simple free account. Watch out for: no interest on idle cash, and wire fees are not listed on Novo's homepage.
How to choose
- Count your wires. If you pay contractors or vendors by wire every month, free wires can be worth more than a higher savings rate.
- Check where the yield comes from. Interest on checking or savings (Bluevine, Relay) is paid on deposits. Treasury yields (Mercury, Brex) come from funds and Treasuries: usually higher, but not FDIC insured.
- Match coverage to your raise. If you will hold more than $3M, look at Brex (up to $6M) or Mercury and Novo (up to $5M).
- Keep a second account. Any bank or platform can freeze an account during a compliance review. A backup account elsewhere keeps payroll running if that happens.
- Think about lending. If you expect to need a loan or venture debt, a relationship with a traditional bank can matter more than app features.
Frequently asked questions
Is Mercury a bank?
No. Mercury describes itself as "a fintech company, not an FDIC-insured bank." Its banking services are provided through Choice Financial Group and Column N.A., both FDIC members. Relay, Bluevine and Novo also state that they are not banks and name their partner banks.
How much FDIC insurance can a startup get?
The standard limit is $250,000 per depositor, per bank, per ownership category. Through sweep networks, providers state maximums of up to $6M (Brex), $5M (Mercury, Novo) and $3M (Relay, Bluevine). Conditions apply, and the insurance protects you if a bank fails, not if the platform does.
Is money in Mercury Treasury or Brex Treasury FDIC insured?
No. Both are investment accounts that hold funds (and, for Mercury, also individual US Treasuries). They are covered by SIPC instead; Mercury states that SIPC protects up to $500,000 of securities and cash, of which up to $250,000 in cash.
Who owns Brex now?
Capital One, which completed its acquisition of Brex on April 7, 2026. Pedro Franceschi continues as Brex's CEO.
How we compared
We read each provider's pricing page, account page and legal disclosures on November 13, 2026, and compared monthly fees, FDIC coverage, yield, payment fees and partner banks. We have not opened test accounts with these providers, and we do not score customer service, which we cannot measure. We will add more providers as we verify their terms.
Some links on this site may earn us a commission if you open an account. That does not change the facts above, and we include providers whether or not they pay us. How we make money.
This page is general information, not financial, legal or tax advice. Best Bank for Startups is not a bank and is not affiliated with the companies listed.