Mercury vs Relay Financial: Which US Bank is Best for Your LLC?
Both Mercury and Relay allow non-US residents to open an FDIC-insured checking account without visiting the US. Compare their features, card limits, and cash management tools to pick the best fit.
Choose Mercury if you build software, raise capital, or want programmatic API banking with $5M FDIC sweeps. Choose Relay Financial if you run an agency or e-commerce brand that benefits from 20 dedicated checking accounts and Profit First cash allocation.
Detailed Feature Comparison
| Feature | Mercury Business | Relay Financial |
|---|---|---|
| Ideal Founder Profile | Tech, SaaS & Startups | Agencies, E-Commerce & Creators |
| FDIC Insurance Limit | Up to $5,000,000 (Sweep Network) | Up to $3,000,000 (Thread Bank Network) |
| Checking Sub-Accounts | Up to 15 checking accounts | Up to 20 checking accounts |
| Debit Cards Available | Unlimited virtual Mastercards | Up to 50 physical & virtual Mastercards |
| Monthly Maintenance Fee | $0 / Month | $0 / Month (Standard) |
| Developer REST API | Native REST API with webhook events | Standard accounting integrations only |
| Non-Resident Eligibility | Supported with US LLC + EIN | Supported with US LLC + EIN |
Frequently Asked Questions
Which bank is better for non-residents: Mercury or Relay?
Mercury is better for software companies, SaaS founders, and venture-backed startups needing developer API tokens, high treasury yields on idle cash, and up to $5M in FDIC sweep insurance. Relay Financial is better for digital agencies, e-commerce stores, and Amazon sellers who need multiple checking accounts (up to 20 sub-accounts) to allocate cash for taxes, payroll, and ad spend.
Do both Mercury and Relay accept non-US residents remotely?
Yes. Both institutions accept foreign founders who hold an active US corporate entity (LLC or C-Corp), a valid 9-digit IRS EIN, a commercial registered address, and a valid international passport. Neither bank requires an SSN or US visa.
Are there monthly maintenance fees on Mercury or Relay?
Both Mercury and Relay offer standard accounts with $0 monthly maintenance fees and no minimum balance requirements. Domestic ACH transfers and incoming USD wires are free on both platforms.