Softwr

Accounting · head to head

Mercury vs Square

Mercury logo

Mercury

Accounting

Banking for startups

From
Free
Rated
-
Full reviewWebsite
Square logo

Square

E-Commerce

Powering the economy

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Mercury treasury access requires a $250,000 balance held with Mercury; Square plus plan pricing not specified in documentation
  • They diverge on capability: Mercury covers Business checking, Square covers Payment processing.
  • Prices and features above were last checked on 30 August 2026.

Where they differ

Only the attributes on which Mercury and Square actually diverge.

Attributes where Mercury and Square differ
AttributeMercurySquare
PlatformsWeb, Ios, AndroidPOS (Mobile app), Web
CategoryAccountingE-Commerce
Founded20192009

Identical on both: starting price (Free), pricing model (freemium), free tier (Yes), user rating (Not yet rated).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Mercury

  • Business checking
  • Savings accounts
  • Virtual cards
  • Team management
  • API access
  • Xero
  • Stripe
  • FDIC insured

Only in Square

  • Payment processing
  • Point of sale
  • Invoicing
  • Payroll
  • Banking
  • WooCommerce
  • Wix
  • PCI DSS

Both cover

  • QuickBooks
  • Web support
  • Ios support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Mercury

  • Business banking and payments for startupsnot Square
  • Managing treasury, invoicing and corporate cards from one accountnot Square

Square

  • Accept payments with all-in-one POS applicationnot Mercury
  • Online ordering and basic website creationnot Mercury
  • Invoicing and appointment bookingnot Mercury
  • Staff scheduling and loyalty programmesnot Mercury

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Mercury

  • Treasury access requires a $250,000 balance held with Mercury
  • Non USD international wires carry a 1% conversion fee
  • Choosing OUR wire coding, which covers intermediary bank charges, costs $15 per wire
  • ACH invoicing is $1 per transaction on Mercury Plus and only free on the $299 a month Pro plan
  • Advanced and recurring invoicing require Mercury Plus at $29.90 a month

Square

  • Plus plan pricing not specified in documentation
  • Processing fees differ by tier but exact rates not detailed
  • Free plan pricing mentioned but specific features for Plus unclear
  • Text marketing charged at 3¢ per message after first 500 included

Pricing, plan by plan

Mercury

Free
  • Mercury (Free)Free
    • ACH payments
    • Domestic wires
    • Real-time payments
  • Mercury Plus$29.9/month
    • Invoice ACH debits
    • Recurring invoices
    • Invoicing API (500/month)
  • Mercury Pro$299/month
    • All Plus features
    • Relationship manager
    • Free ACH invoice debits

Square

Free
  • FreeFree
    • Accept payments with all-in-one POS app
    • Online site builder (ordering profiles, basic websites, online stores, booking sites)
    • Item library and inventory tracking
  • Plus$null/mo
    • All Free plan features
    • Advanced POS features for food, retail, and appointments
    • Lower processing fees on card transactions

Which should you pick?

Choose Mercury if

  • You need business checking.
  • You want to start without paying.
  • You work on Web, Ios, Android.
  • You also want savings accounts.
Mercury review

Choose Square if

  • You need payment processing.
  • You want to start without paying.
  • You work on POS (Mobile app), Web.
  • You also want point of sale.
Square review

Questions people ask

Is Mercury or Square better?
Neither clearly leads. Mercury starts at Free and Square at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Mercury or Square?
Mercury starts at Free and Square at Free.
Does Mercury or Square run on more platforms?
Mercury runs on Web, Ios, Android. Square runs on POS (Mobile app), Web.
Can I use Mercury for free?
Both have a free tier, so you can try either at no cost before committing.
What is Mercury best used for?
Mercury is most often used for business banking and payments for startups, managing treasury, invoicing and corporate cards from one account. Of those, business banking and payments for startups and managing treasury, invoicing and corporate cards from one account are not what Square is typically brought in for.
What can Mercury do that Square cannot?
Mercury covers Business checking, Savings accounts, Virtual cards, Team management. Square covers Payment processing, Point of sale, Invoicing, Payroll. Both handle QuickBooks, Web support, Ios support, Android support.

Answered from the vendors’ own pages

Mercury: Is Mercury business banking free?

Mercury's base banking tier is free and includes ACH payments, domestic wire transfers, real-time payments, Bill Pay, and QuickBooks/Xero automations at no monthly cost.

Source
Square: Does Square offer a free plan?

Yes, Square's free plan includes an all-in-one POS app, online site builder, item library and inventory tracking, invoicing, appointment scheduling, staff calendars, and checking and savings account access. No subscription fees are charged.

Source
Mercury: What does Mercury Plus add beyond the free tier?

Mercury Plus costs $29.90 per month and adds invoice ACH debits, recurring invoice capabilities, invoicing API with 500 calls per month, unlimited 1099 filings, and access to partner benefits.

Source
Square: What does Square Plus add compared to the free plan?

Square Plus adds advanced POS features for food and retail, lower processing fees on card transactions, custom loyalty programs, unlimited email marketing campaigns, text messaging, and staff scheduling and attendance tracking.

Source
Mercury: Does Mercury charge monthly account fees?

No, Mercury states there are no minimum account balance requirements, overdraft fees, required monthly fees, or account opening fees. The free tier includes essential business banking, with paid tiers available for additional features.

Source
Share

Related pages

More on Mercury

More on Square

Keep looking

Other head to heads