Mercury Personal offers a user-friendly product experience that is intended to streamline and enhance banking processes, much as Mercury for Business. Mercury Personal customers can issue numerous debit cards** with customizable spending restrictions, set up auto-transfer rules to move money between accounts, grant access to other users and modify permissions for each, and access up to $5 million in FDIC insurance* through our partner bank and its sweep network. A competitive 5.00% APY*** is also available to Mercury Personal customers on high-yield savings accounts.

Immad Akhund, co-founder and CEO of Mercury, stated, "As we celebrate the fifth anniversary of Mercury's launch, introducing Mercury Personal marks not just our expansion into consumer banking*, but also a step forward in growing our relationships with the founders and tech leaders we serve." We are able to strengthen our interaction with founders and investors by providing personal banking* to them. Mercury Personal is a calculated step in the direction of maximizing performance for both individuals and companies. This is the next phase in our plan to create a generational business that partners with the most aspirational organizations and people to develop, assist, and expand together.

According to Alexey Likuev, Head of Personal Banking at Mercury, "many founders and investors are not happy with their bank accounts today and often need to switch between several platforms to access a full suite of services." The current state of banking is paradoxical: the majority of neobanks concentrate on providing a very minimal service to underbanked and lower-income people. Conversely, traditional banks provide asset management and private banking services that include frequent interactions with a banker, even for simple acts like transferring a wire. For their own purposes, most entrepreneurs are merely searching for a strong self-service banking solution. And Mercury Personal steps in at that point.

For business owners, investors, and builders seeking a self-serve banking solution and a superior product experience to maximize their personal finances, Mercury Personal was created and engineered.
 

An early tester of Mercury Personal, Shane Mac, the multi-time founder and brains behind XMTP, said, "I've been eagerly waiting for Mercury to launch a product like Mercury Personal, and it has surpassed my expectations." "I have not been impressed with traditional banks." Simple operations like making ATM withdrawals and domestic bank wire transfers are difficult to complete, and I get charged for them. Mercury Personal has gotten along well with me already. For consumer banking, which has long felt cut off from the speed and inventiveness of the digital sector, it is nothing short of revolutionary. It possesses the ostensibly straightforward and enchanted qualities that have traditionally distinguished Mercury from the others.

Customers will have limitless access to services including a high-yield savings account, free domestic wire transfers and ACH transfers, configurable debit card** limits, global ATM fee reimbursements, and more with Mercury Personal, which will begin with an annual membership cost of $240. There aren't any surprises, unclear pricing schedules, or minimum balance requirements. Those who are interested can sign up for the waitlist right now, and public availability for US clients will follow later in the year.

Mercury Personal users are able to:

Put money into high-yield savings accounts to get a competitive yield: With the same login as your checking account(s), earn 5.00% APY*** on your funds with high-yield savings account(s).

Get increased FDIC insurance: Without having to handle numerous bank accounts, take advantage of up to $5M in FDIC insurance* through our partner bank and its sweep network.

Automate financial management: To easily manage your cash flow, set up personalized auto-transfer rules.

Create several checking and savings accounts to classify and arrange your money according to your financial objectives. This allows you to customize your accounts.

Work together on finances: Give individuals in your life, such as your spouse or personal assistant, the appropriate level of access with personalized permissions. Make accounts and **debit cards** with customized spending restrictions for every user or use case; for example, designate a card for weekly or monthly spending or a particular grocery shopping card.

Savor a flawless encounter: Send checks, ACH transfers, and no-fee wire transactions without having to speak with a banker. Make use of drag-and-drop invoice reading, establish rules for automatic transfers, make payment requests with ease, and quickly and effortlessly transition between Mercury business and personal accounts.

To safeguard your money, use Touch ID and two-factor authentication (2FA) without compromising ease of use.

Pay a single, transparently priced annual fee: Savor one straightforward membership price with no hidden costs, transaction limitations, or minimum balance requirements.

Apply online here: Not required to go to a branch.