Neobank comparison
Compare Mercury and Varo Bank side by side: fees, regulation, platforms.
Best for startups
Mercury is the go-to operating account for venture-backed startups, pairing free business banking with a deep…
Best US high-yield neobank
Varo is the rare US neobank that holds its own national bank charter, so deposits are directly FDIC insured w…
| Feature | Mercury | Varo Bank |
|---|---|---|
| Monthly fee | Free | Free |
| FX markup | 1% | 0% |
| Savings APY | - | 5% |
| Currencies | 3 | 1 |
| Card network | Mastercard | Visa |
| Deposit protection | FDIC up to 5,000,000 USD via partner-bank sweep | FDIC up to 250,000 USD (Varo Bank, N.A.) |
| Regulators | - | - |
| Best for | Best for startups | Best US high-yield neobank |
| Markets & account | ||
Mercury
Mercury is the go-to operating account for venture-backed startups, pairing free business banking with a deep sweep network and treasury tools.
Confirm current fees and rates on the provider's site. T&Cs apply.
Varo Bank
Varo is the rare US neobank that holds its own national bank charter, so deposits are directly FDIC insured while the savings rate stays at the top of the table.
Confirm current fees and rates on the provider's site. T&Cs apply.
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