Mercury vs Relay vs Found: Which Business Bank Wins in 2026?

Why Your Business Bank Choice Matters More in 2026

You wired Stripe to a personal checking account in week one. Then payouts started landing. Then your first contractor invoice arrived. Then your accountant asked for a clean P&L by entity, a tax pocket, and a way to stop co-mingling your coffee money with ad spend. Suddenly the bank choice that felt fine at $0 MRR starts costing you hours every Friday.

Three neobanks dominate the conversation for solo founders and bootstrapped startups in 2026: Mercury, Relay, and Found. All three work for a one-person company. They just optimize for different parts of the founder’s week. Mercury bets on software polish and free wires. Relay bets on Profit First envelope architecture and granular multi-user roles. Found bets on tax automation and bookkeeping that happens inside the bank app.

Pricing reflects public pricing pages as of August 2026 (Mercury, Relay, Found). None of these accounts is a chartered bank: Mercury routes deposits through Choice Financial Group and Column N.A., Relay through Thread Bank, and Found through Lead Bank. All three are FDIC-pass-through, with very different coverage ceilings. Pick based on what you actually do every Friday.

Quick Verdict: Which One Should You Pick?

• Pick Mercury if you want free domestic and USD international wires, a startup-grade API, the cleanest invoicing UX, and do not need cash deposits or yield on operating balances.
• Pick Relay if you run Profit First or want 20 real FDIC-mapped checking accounts for envelope budgeting, need multi-user permissions for contractors, and do not need a credit card from the same provider.
• Pick Found if you are a sole proprietor or single-member LLC on Schedule C who dreads quarterly taxes, wants automatic tax pocketing, and is fine capping APY at $20K.

What Each Bank Is Actually Built For

All three are online business banking accounts. The differences are in what they put on top.

• Mercury is a startup-banking platform first. The product reads like Stripe-meets-a-bank: API-first, opinionated UI, free wires on every tier, and a developer ecosystem that includes Mercury IO (the corporate card) and Mercury Treasury (the money market sweep for $250K+ balances). It is the bank most VC-backed founders default to, and the one solo founders copy once they hit real revenue.
• Relay is a multi-checking business account. Up to 20 FDIC-mapped checking accounts under one login, plus up to 50 debit cards and unlimited users. The product is built around Profit First and per-client/per-channel envelope budgeting. The team-features story is unusually deep for a neobank, which is why agencies and small remote teams gravitate there.
• Found is a banking, bookkeeping, and tax platform in one app. It is built for self-employed people on Schedule C: 1099 freelancers, sole props, single-member LLCs, and (now) multi-member LLCs and corporations. The banking itself is fine. The draw is the in-app tax estimates, Schedule C prep, and contractor 1099 tooling that replaces a stack of separate subscriptions.

Side-by-Side Comparison (August 2026)

Annual billing shown where it applies. Free tiers exist on all three. The interesting differences are what each one gates behind a paid plan.

Feature	Mercury	Relay	Found
Best for	Software startups, online-only businesses	Profit First operators, agencies, multi-entity	Self-employed, sole props, Schedule C
Monthly fee (entry tier)	$0 (Mercury)	$0 (Starter)	$0 (Found)
Paid tier pricing	$29.90/mo (Plus), $299/mo (Pro)	$30/mo (Grow), $90 promo / $120 list (Scale)	$35/mo (Plus), $80/mo (Pro)
Free checking accounts	Up to 14	Up to 20	1 main + up to 10 Pockets
Sub-accounts model	Internal labels / virtual cards	20 real FDIC-mapped checking accounts	10 Pockets (sub-ledgers, not separate accounts)
APY on free tier	None (Treasury at $250K+ minimum)	0.91% on savings (variable)	None
APY on paid tier	Treasury 3.0–3.6% net (Mercury Pro, $250K+)	1.55% (Grow), 2.68% (Scale)	1.50% capped at $20K (Plus), 2.50% no cap (Pro)
FDIC coverage ceiling	Up to $5M via sweep network	Up to $3M via Thread Bank sweep	Up to $250K (single bank)
Cash deposits	Not supported	Limited (Green Dot locations; fees apply)	$2 fee, $4,000/month cap
Wires (domestic)	Free	Discounted, varies by plan	$15 per wire (Plus/Pro $10–$15)
Wires (USD international)	Free	Discounted	Not advertised
Credit card	Mercury IO (1.5% cashback, flat)	Not offered	Found Mastercard debit
Multi-user permissions	Reimbursements for up to 5 (free), 20 (Plus), 250 (Pro)	Unlimited users, granular roles	Team debit cards with spending limits
Bookkeeping & taxes	Expense tracking; QuickBooks and Xero sync	Invoicing + accounting integrations (QBO/Xero)	Built-in bookkeeping, Schedule C prep, tax payments
API access	Full API on every tier	Limited API	No public API
Partner bank	Choice Financial Group / Column N.A.	Thread Bank (consent order terminated Dec 2025)	Lead Bank
ATM access	55,000+ fee-free Allpoint ATMs	Fee-free network varies by plan	Standard Mastercard network (no fee-free network)

Pricing Deep Dive: What You Actually Pay in Year One

List price is the start. The real cost depends on your wires, your team, and whether you ever clear the yield thresholds.

Mercury

The free Mercury tier covers what most solo founders actually need: free ACH, free domestic wires, free USD international wires, unlimited bill pay, basic invoicing, and QuickBooks and Xero sync. Banking services are $0 per month on every tier. Mercury Plus costs $29.90 per month (or $23.90 per month billed annually) and adds ACH invoice payments at $1 per transaction, recurring invoices, six months of Xero free, and reimbursements for up to 20 users. Mercury Pro costs $299 per month (or $239.90 per month annually) and adds a dedicated relationship manager, free ACH invoice payments, the unlimited Invoicing API, NetSuite categorization, and reimbursements for up to 250 users. Mercury Treasury is unlocked once your combined Mercury balance hits $250,000 and invests idle cash in money market funds at roughly 3.0–3.6% net.

The honest year-one cost for a solo founder who never sends international wires and never touches the API: $0. The honest cost for a founder with 10 contractors who needs reimbursements and ACH invoice collection: $358.80 per year on Plus (annual billing).

Relay

Starter is $0 per month and includes 20 checking accounts, 2 savings accounts, 50 cards, 1% credit-card cashback, unlimited users, and 0.91% APY on savings. Grow is $30 per month and adds 1.25% cashback, 1.55% APY on savings, and discounted transaction fees. Scale lists at $120 per month and runs a $90 promo in 2026 for the first term. Scale adds 1.5% cashback, 2.68% APY on savings, up to 50 checking accounts, and the lowest transaction fees. Relay wires run cheaper than most competitors on every plan, with savings advertised at up to 50% on wires and same-day ACH versus typical neobank rates.

The honest year-one cost for a Profit First operator with three envelopes (Operating, Profit, Tax) who wants yield on idle cash: $360 on Grow. For a solo founder who only needs a checking account and the debit card, the honest cost is $0.

Found

Found is free and includes business checking, a Mastercard debit, up to 10 Pockets sub-accounts, automatic expense categorization, receipt scanning, unlimited free invoicing, contractor payments with W-9 collection, and 1099-NEC e-filing. Found Plus costs $35 per month (or $315 per year) and adds 1.50% APY on balances up to $20,000, Schedule C plus 1120/1120-S form generation, in-app quarterly federal tax payments, and priority phone support. Found Pro costs $80 per month (or $720 per year) and adds 2.50% APY with no cap, transaction imports from other banks, unlimited bookkeeping rules, and discounted outgoing wires.

The honest year-one cost for a sole prop who wants quarterly taxes handled in-app and runs modest balances: $0 on the free tier. For a solo founder with $50K sitting in the account who wants yield and Schedule C prep: $420 on Plus annual billing, which costs 0.84% of the average balance in fees. Once you clear $20K of average balance, Found Plus starts paying for itself on the APY spread alone, provided the bookkeeping replaces a separate subscription.

What Each Bank Actually Does Best (and Where It Falls Over)

Mercury strengths

• Free wires are the headline. Domestic and USD international wires cost $0 on every tier, which is rare at any price.
• The product polish is best in class for a neobank. The UI, the API docs, and the integrations feel like a modern SaaS tool, not a bank from 2014.
• $5M FDIC sweep coverage via partner banks is the highest of the three, and meaningful once your business holds real cash.
• The Mercury IO card (1.5% flat cashback) and Mercury Treasury (money market at roughly 3.0–3.6% net on $250K+) round out a startup banking stack without third-party subscriptions.

If Mercury sounds like your fit, open a Mercury account in about ten minutes. The free tier covers what most solo founders actually need.

Mercury weaknesses

• No cash deposits. If you ever need to deposit a check from a customer in person, Mercury cannot help you.
• Operating balances earn nothing until you clear the $250K Treasury minimum. Cash-rich small businesses earn more at Bluevine or Relay.
• The partner bank, Choice Financial Group, is operating under an FDIC consent order. Deposits remain FDIC-insured, but the operational footnote is real and worth disclosing to a co-founder or accountant.
• 1% currency-exchange fee on non-USD international wires if you ever pay vendors in EUR or GBP.

Relay strengths

• 20 real FDIC-mapped checking accounts is the structural feature. Every envelope is a separate account at Thread Bank, with its own routing and account number, not a virtual sub-ledger.
• Multi-user permissions are unusually deep for a neobank, with role-based access on cards, accounts, and approvals.
• The cheapest wires in the category, advertised at up to 50% below competitors on wire and same-day ACH.
• Insured Cash Sweep via Thread Bank extends FDIC coverage to $3M per business, well above the standard $250K ceiling.

If envelope budgeting and multi-user roles are the priority, start a Relay account on the free Starter plan and add envelopes as you go.

Relay weaknesses

• No credit card or line of credit from the same provider. You will need to source those elsewhere (Brex, Ramp, Mercury IO, etc.).
• Yield on the free tier is 0.91% on savings, which is better than nothing and worse than Mercury Treasury.
• The Thread Bank consent order (issued May 2024, terminated December 2025) is a footnote that comes up in due diligence. No customer funds were affected.
• Zelle for business is not supported.
• Canadian SMBs cannot use it; Relay is US-only.

Found strengths

• Tax automation is the entire pitch, and it works. Found auto-routes a percentage of every deposit into a Taxes Pocket, runs quarterly federal estimates, and generates Schedule C plus 1120/1120-S forms in-app.
• The free tier is genuinely free with no minimums, no credit check, and no required add-ons.
• Contractor 1099-NEC tooling is built in: W-9 collection, automated reminders, e-filing. Replaces a separate subscription.
• Found Plus doubled in price in 2026 to $35/month, which is harder to justify if you only want the bookkeeping and do not carry real balances.

Found weaknesses

• FDIC coverage caps at the standard $250K because Found is a single-bank partner. Operators carrying six figures of business cash should look at Mercury or Relay instead.
• 1.50% APY on Plus is capped at $20,000. Anything above that earns nothing.
• Cash deposit limits are real: $2 per deposit, $4,000 monthly cap.
• 1.75% instant transfer fee applies if you ever need to move money faster than ACH.

If quarterly tax dread is real, open a Found account on the free tier and upgrade only when the tax automation earns its keep.

Who Should Use Which Bank

Mercury fits if…

You ship software, take payments through Stripe, and send the occasional international wire to a contractor or vendor. You never deposit cash. You want a bank that feels like a SaaS dashboard and you want the API to be real. Mercury is the default for solo SaaS founders, indie hackers, and one-person agencies that operate primarily in USD.

Relay fits if…

You run Profit First, manage more than one LLC, or fund separate envelopes for payroll, taxes, ads, and operating costs. You want one login for the whole finance stack and you want unlimited users with role-based permissions for contractors and bookkeepers. Agencies, real estate operators, and multi-entity founders should look here first.

Found fits if…

You are a 1099 freelancer or sole proprietor on Schedule C who dreads quarterly taxes. You want auto-pocketing, in-app tax payments, and 1099 contractor tooling that does not require a separate subscription. Found is the right pick if you do not carry six-figure balances and you are not running multiple entities.

The Hidden Cost Most Comparisons Skip

Pricing pages are honest about the subscription. They are quiet about two things that actually move money.

Yield on idle cash. Mercury pays nothing until $250K in Treasury. Relay pays 0.91% on savings at Starter, 1.55% on Grow, 2.68% on Scale. Found pays 1.50% on Plus, capped at $20K. If your average operating balance is $30K and you stay on the free tier at Mercury, you are giving up roughly $2,400 per year in yield you would have earned at Relay Starter. The math flips the moment your average balance exceeds $250K and Mercury Treasury becomes available.

The bank stack. Most founders end up running two accounts. A common pairing is Mercury for the operating account plus a separate tool for tax pocketing, or Found free plus Relay Grow for envelope budgeting. Picking one bank for everything works until it does not. Plan to add a second account by the time you hit $30K MRR, not $300K MRR.

Key Takeaways

• Mercury is the right pick for online-only software founders who want free wires, a clean API, and best-in-class UX. Yield is gated behind $250K of Treasury balance.
• Relay is the right pick for Profit First operators, agencies, and multi-entity founders who need real FDIC-mapped envelopes and granular multi-user roles.
• Found is the right pick for sole proprietors and Schedule C filers who want tax automation, contractor 1099 tooling, and bookkeeping that lives inside the bank app.
• All three are FDIC pass-through (FDIC). Mercury routes to Choice Financial Group and Column N.A., Relay to Thread Bank, and Found to Lead Bank. Coverage ceilings range from $250K (Found) to $5M (Mercury).
• Cash deposits are limited everywhere: Mercury does not support them at all, Relay requires Green Dot locations, and Found caps monthly cash deposits at $4,000 with a $2 fee per deposit.
• Plan for two accounts by $30K MRR. The bank that works at $0 MRR is rarely the bank that works at $30K MRR.

FAQ

Can I run multiple accounts at the same time?

Yes. Solo founders commonly pair Mercury for operating + Found free for tax pocketing, or Relay for envelopes + a Mercury IO card for ad spend. None of the three prohibits holding accounts at partner banks concurrently.

Which bank is best for an LLC?

All three support LLCs (single-member and multi-member). Found added multi-member LLC and corporation support in late 2025. Mercury and Relay have always supported LLCs and corporations. Pick based on your workflow, not your entity.

What happens if my partner bank fails?

Customer deposits sit at the partner bank, not at the fintech. FDIC insurance applies per depositor, per ownership category, per bank. Mercury and Relay use sweep networks to extend coverage above the standard $250K ceiling. Found caps at the standard ceiling because it uses a single partner bank.

Do any of these work outside the US?

No on all three for the main product. Mercury is US-only. Relay is US-only. Found is US-only. International founders who need a US account typically open Mercury or Relay and route their non-US banking through Wise or a local neobank.

Bottom Line

If you are a solo founder running a one-person SaaS or content business and you do not need envelope budgeting or in-app tax automation, Mercury is the cleanest choice and the only one of the three with free USD international wires. If you run Profit First, manage multiple envelopes, or want real FDIC-mapped sub-accounts, Relay is the structural fit. If you are a 1099 contractor or sole prop who dreads quarterly taxes and wants bookkeeping that happens inside the bank app, Found is the pick. Most founders end up running two of these within 12 months; the question is which one you start with on day one.

Open the account that matches your current Friday workflow. Migrating banks is annoying at $1K MRR and easy at $10K MRR, so do not over-optimize for a future you have not built yet.