[immad]

(I am the CEO of Mercury.com.)

Lots of people switch over from SVB to us. Happy to answer any questions you have.

We go out of our way to be transparent in pricing, have great customers service and "just work". We dont currently do LoCs though.

Also feel free to email me (my username AT mercury.com)

[tujson]

+1 for Mercury. Super simple signup, and great UI. Love that there's a mobile app! Real nice to have virtual cards.

Only nitpick is when my co-founders linked their bank accounts to Mercury to transfer money, Mercury displayed their personal account balances (after unlinking their accounts, their personal balances no longer showed up). I had to wire transfer since Plaid didn't work for my bank.

[immad]

Displaying personal balance - Thats come up before, will try to get a fix prioritized for that.

[quadrifoliate]

> Displaying personal balance - Thats come up before, will try to get a fix prioritized for that.

Leaking information about a personal account when it has only been used authorized for the purposes of transfer seems to be a P0 bug to me, from a disinterested third-party point of view. If I authorize a transfer of $10k to my startup and for some reason my co-founder is able to see that my personal account balance at Bank of America is $400k, that sounds like...a massive leak of information that I didn't authorize.

Or do I have a mistaken view of what the problem is?

[immad]

99% of the time Plaid functionality is used to transfer money from your previous business bank account to Mercury. In that scenario it's useful to have balance information.

Most people transfer money from personal account via another means (checks, wire etc). Though agreed that it's bad when a personal account is used and the balance is leaked to cofounders.

[quadrifoliate]

Ah I see, I had the typical use case wrong. Thanks for your response!

[fortran77]

It's bad, but not a "massive leak". Few people keep much more than the FDIC limit in a commercial bank for their personal account no matter how much money they have.

[kevinyun]

Just wanna say we love using Mercury, and it's really the perfect bank for startups.

We also experienced the personal balance privacy issue where we didn't expect to see each other's balances but was too late by then.

[xzel]

I'd love to provide virtual cards for my business. Is it a simple process to start using them with Mercury?

[immad]

Yeah, super easy. Just go to mercury.com/cards once you have an account.

[markh]

We switched to Mercury only to discover you don’t support wiring money to all countries (we need South Africa support). Perhaps this (hopefully temporary) limitation could/should be included in your FAQ? In the interim we’re going to look into Pilot for team payments. Anyone here using Pilot?

[immad]

If you email us we can enable support to South Africa (and most countries). We need some extra info right now to do that.

We should be able to do most (non sanctioned) countries by default soon too.

[markh]

Thank you, I’ll email you directly. Your super quick response on a previous HN thread was a key reason we decided to sign up with Mercury in the first place...

[mrajcok]

Mercury has been great! Used SVB at my last company and it's a big improvement.

[Meegul]

What's your business model? The product looks outstanding, but I, like many others here I'd imagine, am somewhat skeptical of a product that sells itself as nearly completely free for the user.

[immad]

We make money on debit card usage (interchange) and deposits that sit with us. We will be adding a couple of other revenue streams this year.

We have pretty good unit economics and the bigger we get the more money we make. Agreed that you should be skeptical of anything that makes a loss on a per user basis.

[Meegul]

Great response. If my startup weren’t in such a regulated industry, I’d be checking you guys out. Maybe next time.

[koolba]

How do you make money on demand deposits when interest rates are effectively zero?

[gnicholas]

What sort of interest rates do you offer for folks who are conserving cash right now? I realize interest rates are low in general, but it seems foolish to be getting literally zero from my current bank.

[immad]

Currently 0. But we have a new product coming up that will help with that.

Feel free to email me if you want to be in the beta for that. Won't be widely released till August.

[whalesalad]

Happy Mercury customer checking in!

[mchusma]

+1 for Mercury. My only feature wish is the ability to write paper checks (not send via mail). It comes up occasionally (e.g. in CA need to give paper checks to employees on the spot when terminating).

But SO much better than Wells Fargo.

[thekonqueror]

Mercury has been great to us and has a vastly better UI compared to SVB.

One suggestion, there should be an option to deliver checks via UPS, FedEx at an additional cost. USPS can be hit-and-miss from time to time.

[physicsAI]

+1 for Mercury. We also switched to Mercury after 8 months with SVB. It is crazy how much difference a good UI makes and the time it saves.

[westoque]

same here. happy mercury customer. just disappointed the webapp wasn't build mobile friendly from the start. the UI is simple enough that it should've been working on mobile!

should've used a responsive CSS framework vs using css modules. recreated the wheel for not a lot of value.

[immad]

We now have an iOS app.

I don't think CSS modules are the issue to making it responsive. We just decided to focus the design/engineering resources on making mobile apps instead of responsive web app.

Ideally we would do both though, and hopefully we can in the future.

[westoque]

> I don't think CSS modules are the issue to making it responsive. We just decided to focus the design/engineering resources on making mobile apps instead of responsive web app.

i agree that CSS modules aren't the issue but it def makes it easier to be responsive when you use a CSS framework. i think it would've been nice to be responsive from the start. relatively less resource intensive if written using bootstrap and maximizes customer value by making it easier for users to browse it on mobile without installing an app.

[matlin]

+1 for android app from someone in the Mercury Tea Room!

[mfkp]

I'd switch to Mercury with my $250k+ bank account if there was an Android app as well

[carlosdp]

Another +1 for Mercury, simple to start and really does just work.

[allenleee]

+1 Mercury > SVB