These three get compared as competitors, but they solve different problems. Mercury is a bank — checking, wires, treasury. Brex is a spend platform — cards, bill pay, a treasury account, rewards. Ramp is a spend management platform — cards, expense automation, bill pay, aggressive cost-cutting features. Most startups end up using two of them.
| Core cost | Rewards | Eligibility (2026) | |
|---|---|---|---|
| Mercury | banking is free | ~1.5% cashback on the IO card | piggybacks on banking approval; more accessible to non-resident founders |
| Ramp | core cards + spend mgmt free; Plus $15/user + platform fee | flat ~1.5% cashback, no points system | ~$25k minimum account balance |
| Brex | platform pricing varies by plan | tiered points (~7x rideshare, 3x restaurants, 2x software, 1x else) | venture-backed or ~$50k+ in the bank |
Mercury's core banking is free and it's the most accessible to get approved for, especially for founders outside the US. Ramp's core card and spend-management product is also free, with a flat 1.5% cashback that just lands in your account — no points program to optimize. Brex charges for its full platform but offers the richest rewards if your spend skews toward the categories it multiplies.
The eligibility thresholds matter more than most comparisons admit. Brex generally wants venture backing or ~$50k in the bank. Ramp has looked for ~$25k minimum balance. Mercury's card eligibility rides on its banking approval, which is the easiest bar of the three.
The common stack for a venture-backed startup holding real cash: Mercury for banking + Ramp for cards and spend. Mercury from pre-seed through seed, then add Ramp (or Brex, if the rewards math favors your spending) once headcount and spend complexity grow. You don't have to pick one — and most don't.