Updated October 14, 2026 · VaultCue Editorial Team
Mercury vs Monese
Mercury
Higher score in this comparison
Monese
Mercury vs Monese: the differences
| Compare | MercuryReviewSee alternativesSee alternatives | MoneseReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | $0 | £0 |
| Deposit protection | FDIC up to USD 250,000 | FSCS up to GBP 85,000 |
| Currency conversion fee | 1%Lower | 3% |
| Currencies | 40Higher | 3 |
| Local account details | Us ACH | IBAN, UK sort code |
| Free ATM withdrawals | $0 | £0 |
| Transfer fee | ACH and domestic wires free; USD international wires free, OUR option $15; non-USD international wires 1% FX fee | GBP 1.29 per outgoing domestic transfer; real-time Monese-to-Monese transfers free |
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Key differences
- Mercury scores higher overall: 8.8 vs 8.7.
- Founded is lower at Monese: 2015 vs 2017.
- Monese is licensed in 2 more countries.
- Monese is available in 30 more countries.
- Currency conversion fee is lower at Mercury: 1% vs 3%.
- Currencies is higher at Mercury: 40 vs 3.
- Local account details: only Mercury offers Us ACH.
- Local account details: only Monese offers IBAN, UK sort code.
- Audience: only Mercury offers Business.
- Audience: only Monese offers Expats, Travelers.
Our verdict on each
Mercury
Mercury in the United States is a fintech business-account platform with cards, invoicing, bill pay and spend management. It offers team access roles and syncs transactions with QuickBooks Online, Xero and NetSuite; partner banks remain distinct from Mercury.
Monese
Monese suits expats, frequent travellers and freelancers who want a digital everyday account with nothing to pay each month. Costs stay low with a monthly fee of £0, while the limits on 3 currencies and a 3% conversion charge keep it simple rather than cheap for heavy currency use.
Score breakdown
| Area | Mercury | Monese |
|---|---|---|
| Cost | 9.1HigherMonthly fees of $0 and a minimum deposit of $0; the site conversion median is 0.5% and Mercury's is 1%. | 8.7A monthly fee of £0 and a £20 charge on outgoing domestic transfers, against a 3% conversion fee. |
| Offer | 9.2HigherAn easy-access easy access balance for business and freelancer, paying 3.5% that is variable, with free ATM use and joint accounts. | 9.1Local details in iban and uk sort code formats, Instant transfers and a 3 currency account for expats, travelers and freelancer. |
| Trust | 8.3 | 8.4Higher |
Where they rank in our lists
| Ranking | Mercury | Monese |
|---|---|---|
| Business bank accounts | 201 of 563 | 227 of 563 |
| Accounts for freelancers | 57 of 130 | 67 of 130 |
| Multi-currency accounts | 193 of 348 | 217 of 348 |
Where each is licensed and available
| Country | Mercury | Monese |
|---|---|---|
| Belgium | Not confirmed | |
| Ireland | Not confirmed | |
| United Kingdom | Not confirmed | |
| United States | Not confirmed |
Additional countries for Mercury: 1. Additional countries for Monese: 31.
What we checked
Mercury
- mercury.com: 12 facts, checked September 26, 2026
- en.wikipedia.org: 2 facts, checked September 26, 2026
Monese
- monese.com: 14 facts, checked September 26, 2026
Every fact side by side
| Fact | Mercury | Monese |
|---|---|---|
| Audience | Business, Freelancer | Expats, Travelers, Freelancer |
| Pricing model | No monthly fee | No monthly fee, Low FXCovers more |
| Features | Free ATM, Joint account | Joint account, Digital only, No credit check |
| Legal entity | Mercury Technologies, Inc. | Monese Ltd |
| Headquarters | United States | United Kingdom |
| Founded | 2017 | 2015Lower |
| Support channels | Email, Chat, Help centre | Chat, Email, Help centre |
Savings
| Fact | Mercury | Monese |
|---|---|---|
| Headline rate | 3.5% | Not confirmed |
| Rate type | Variable | Not confirmed |
| Minimum deposit | $0 | Not confirmed |
| Access terms | On-demand access: unlimited USD wires, ACH, real-time payments and checks between personal, joint and trust accounts | Not confirmed |
| Account kind | Easy access | Not confirmed |
Money transfer
| Fact | Mercury | Monese |
|---|---|---|
| Exchange rate markup | Not confirmed | 2% |
| Delivery time | Not confirmed | Instant |
| Payout methods | Not confirmed | Bank, Wallet |
| Fee to send 1,000 | Not confirmed | £20 |
Where each stands against the rest
| Fact | Mercury | Monese | Median |
|---|---|---|---|
| Currency conversion fee | 1%above the median | 3%highest quarter | 0.5% |
| Currencies | 40highest quarter | 3below the median | 5 |
Median across 536 listed accounts.
Pros and cons
Mercury
Pros
- Business tools and accounting integrations are described.
Cons
- Mercury is a fintech platform, not itself a bank
- partner-bank protections are not platform guarantees.
Monese
Pros
- Personal accounts carry a monthly fee of £0
- Outgoing domestic transfers cost £20 and transfers between Monese accounts are free
- Transfers land in Instant
Cons
- Converting money costs 3% on top of a 2% exchange rate margin
- A fee of £20 applies to outgoing domestic transfers
- Support runs on chat, email and help centre only, with no phone line listed
Who each suits
Mercury
Who it suits
- US businesses comparing account-management, team-access and accounting-sync tools.
Who should look elsewhere
- Businesses requiring Mercury itself to be the deposit-taking bank or a platform-level protection guarantee.
Monese
Who it suits
- Expats and freelancers who send money across borders and are paid in expats, travelers and freelancer setups
- Travellers who want local account details in iban and uk sort code formats
- Anyone who wants a joint account opened with no credit check, since the account is digital only
Who should look elsewhere
- Skrill if you need a much wider range of currencies than 3
- PayPal Colombia if you want a wallet for online payments rather than local account details
- Plazo ES if you would rather reach support by phone than on chat, email and help centre
Current offers
Mercury
Current offer
First period offer
Mercury Plus first month waived on annual pricing: $35/mo waived until Dec 31, 2026
Mercury Plus plan billed annually (15% off)
Source, checked September 26, 2026
Bonus
Xero and Amazon gift card with Mercury Plus and Pro: 6 months free Xero + $100 Amazon gift card
Mercury Plus or Mercury Pro plan; Xero/Amazon terms apply
Source, checked September 26, 2026
Bonus
Mercury Personal included with any business plan: $240/year Personal subscription covered
Requires an active Mercury business account in good standing
Source, checked September 26, 2026
Monese
Current offer
Bonus
Free contactless debit card with a GBP 100 first deposit: Card delivery free (otherwise GBP 4.95) with a GBP 100 first deposit
First physical contactless Monese debit card; otherwise GBP 4.95 delivery fee; available on all plans
Source, checked September 26, 2026
Country by country
| Country | Mercury | Monese |
|---|---|---|
| Austria | No | Yes |
| Belgium | No | Yes |
| Bulgaria | No | Yes |
| Croatia | No | Yes |
| Cyprus | No | Yes |
| Czechia | No | Yes |
| Denmark | No | Yes |
| Estonia | No | Yes |
8 of 32 countries where either is available.
Questions about each
Monese
Does Monese charge a monthly fee?+
The personal account carries a monthly fee of £0, which is the cheapest end of the accounts compared here. Plazo ES and Skrill also sit on €0 and €0, so you can compare like for like. Nothing is deducted from the balance each month for keeping the account open.
What does it cost to send money out?+
Each outgoing domestic transfer costs £20. Real time transfers from one Monese account to another are free, and the money arrives in Instant. For sending abroad, the cost comes from the 3% conversion charge rather than a transfer fee.
What does it cost to change currency?+
A conversion carries a fee of 3%, plus an exchange rate margin of 2% on the rate itself. The account holds 3 currencies, so you can keep balances separate rather than paying to convert on every spend. Converting is the costliest part of using this account for travel.
How is my money protected?+
Balances are e-money rather than bank deposits, and Monese Ltd is an electronic money institution authorised by the Financial Conduct Authority in the UK, licence 900960. Lending is separate, under Monese Credit Limited and 787052.
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