Mercury vs Wise (TransferWise): Which One Fits Your Solo Dev Stack?
Free tier limits, real costs for 1-10 users, and honest "not for" warnings. The Solo Dev decision guide for Mercury vs Wise (TransferWise).
⚡ Quick Verdict
Mercury edges ahead with a 4.8/5 rating. However, the best choice depends on your team size, budget, and workflow needs. Read on for the full breakdown.
💰 Cost by Team Size
| Team Size | Mercury | Wise (TransferWise) |
|---|---|---|
| Solo (1 user) | $0/mo | $0/mo |
| Small (5 users) | $0/mo | $0/mo |
| Growing (10 users) | $0/mo | $0/mo |
| Free Tier | ✅ Free checking and savings. Free domestic wires and ACH. Free virtual/physical debit cards. No minimum balance. | ✅ Free multi-currency account. Hold 40+ currencies. Free debit card (first one). Fees only on conversions and transfers. |
Pricing Plans
| Plan | Mercury | Wise (TransferWise) |
|---|---|---|
| Free Plan | ✅ Yes | ✅ Yes |
| Standard | $0/mo | $0/mo |
| Plus | $35/mo | $0/mo |
| Pro | $350/mo | — |
Feature Comparison
| Feature | Mercury | Wise (TransferWise) |
|---|
Pros & Cons
Mercury
✅ Pros
- Completely free business checking — no monthly fees, no minimums
- Beautiful modern UI designed for tech founders
- Powerful API for automated banking operations
- Free domestic wires and unlimited ACH transfers
- FDIC insured up to $5M through partner banks
❌ Cons
- US-only — not available for international businesses
- No cash deposits (online-only bank)
- International wires cost $16 each
- No lending or credit products on free tier
- Account approval can take 1-2 weeks for new businesses
Wise (TransferWise)
✅ Pros
- Mid-market exchange rate — no hidden markup (saves 3-5% vs banks)
- Hold and convert 40+ currencies in one account
- Free debit card that auto-converts at best rate
- API for automated payouts and mass payments
- Transparent fees shown upfront before you send
❌ Cons
- Not a full bank — no lending, credit, or overdraft
- Large transfers (>$100K) may trigger compliance delays
- Limited customer support hours
- No cash deposit capability
- Some countries have restricted features
Who Should Use What?
✅ Choose Mercury if...
- You are a us-based startups and tech companies
- You are a solo devs needing a clean business bank account
- You are a companies wanting api-first banking automation
🚫 Skip if...
- International businesses (US-only)
- Businesses that handle cash transactions
- Companies needing immediate credit/lending
✅ Choose Wise (TransferWise) if...
- You are a freelancers receiving international payments
- You are a remote teams paying contractors globally
- You are a digital nomads needing multi-currency spending
🚫 Skip if...
- Businesses needing credit/lending facilities
- US-only businesses (traditional bank may suffice)
- High-volume traders (dedicated FX platforms are cheaper)
🏆 Our Verdict
Both Mercury (4.8/5) and Wise (TransferWise) (4.7/5) are excellent tools in their category. Mercury takes a slight edge overall, but the best choice ultimately depends on your team's specific needs, budget, and existing tool ecosystem.
Frequently Asked Questions
Is Mercury better than Wise (TransferWise)?
It depends on your needs. Mercury excels in some areas while Wise (TransferWise) has its own strengths. Read our full comparison above to see which tool fits your specific requirements.
How does Mercury pricing compare to Wise (TransferWise)?
Mercury starts at Free / $0/mo, while Wise (TransferWise) starts at Free / $0/mo. Both offer different value propositions — check our pricing comparison section for a detailed breakdown.
Can I migrate from Mercury to Wise (TransferWise)?
Yes, most B2B tools offer data import/export features. Wise (TransferWise) typically provides migration guides and sometimes even dedicated support for switching from Mercury.
Which is easier to use, Mercury or Wise (TransferWise)?
Ease of use depends on your team's experience and workflow preferences. We evaluated both tools on usability — see our feature comparison scores above for details.
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