Mercury vs. Rho

Powerful business banking for startups – from idea to IPO.

Startups prefer Rho's 24/7 customer support and ability to support scaling businesses – in partnership with Webster Bank, N.A. Member FDIC.

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Rho is not a bank. Rho partners with FDIC-insured banks to offer banking products and services. Applying will not impact your personal credit score.
“Rho is Mercury plus Ramp plus amazing customer service in one platform.”
Andy Cloyd, CEO & Co-Founder

Why Rho would be your best startup banking platform.

Built to scale with you from idea to IPO – and beyond, so you won’t have to eventually switch.

Get started fast.

Founders don't have to wait to start building, hiring and fundraising.

Bank on a strong foundation.

Checking & credit card banking services provided by Webster Bank, N.A., Member FDIC,

We believe strong relationships matter.

Dedicated rep for every customer, 24/7 customer support.

We built a platform you can't outgrow.

Enjoy business banking, AP automation & corporate cards in one platform.

How Rho compares to Mercury

Powerful business banking, 24/7 support, and spend management capabilities that support you as you scale.
 
Zero monthly maintenance fees
Responsive customer support
Fee-free Same Day ACH and wires
Native accounting software integrations
Built-in AP automation and expense management
Minimum deposit requirement
FDIC Deposit Insurance
N/A
Up to $75M
with Rho Savings Account.*
Mercury
No live support
Native only offered with QuickBooks Online & Xero
Symbol X that indicate closing the banner.
N/A
Up to $5M
with Mercury Vault.
Open a Rho account in minutes.
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Competitive data was collected from the Mercury website as of April 2, 2024, and is subject to change or update.

*Insured through the network of over 400 FDIC deposit-insured banks. Rho is a fintech company, not a bank. Rho partners with FDIC-insured banks to offer banking products and services. Applying will not impact your personal credit score.

Three cash management solutions in one platform

Manage operating cash without annoying ACH fees, extend your runway, and safeguard your cash with bespoke treasury.
Operate

Rho Business
Checking Account

Organize operating cash with multiple checking accounts, fee-free payments, and dedicated support.
Safeguard

Rho Business
Savings Account

Earn yield while protecting funds with up to $75M in FDIC deposit insurance.*
Earn

Rho Treasury Account

Our technology monitors your account balances, ensuring you have enough cash to operate your business while investing non-operational cash in T-Bills held in your name.**
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*Treasury Management services provided by American Deposit Management, LLC.



**Rho empowers your team to move funds between each account to ensure you have enough operating cash on hand to meet your commitments while also earning market competitive yields.

Why founders choose Rho for business banking

Track advertising spend. 


Running advertising campaigns on Facebook or TikTok? Create virtual Rho corporate card that can only be spent with those merchants and understand spending in real-time.

Execute procurement spending with ease.

Assign individual Rho corporate cards to specific vendors or categories of company expenses, simplifying your procurement and accounts payable processes.

Pay for employee travel-related business expenses.

Book your flights and pay for team and client meals with Rho corporate cards to specific budgets or teams.

Distribute employee cards with full control.

Give your employees cards with strict spend limits and controls that help them pay for needed materials and office supplies while maintaining expense policy compliance.

Manage client budgets.


From construction companies to advertising agencies, Rho corporate cards can help track granular spending by client or job code, making budgeting easier.

Limit cardholder access to the C-Suite.

Some businesses prefer to limit corporate card access to senior executives or owners.
Rho corporate cards can easily be assigned just to senior level employees.

Track advertising spend. 


Running advertising campaigns on Facebook or TikTok? Create virtual Rho corporate card that can only be spent with those merchants and understand spending in real-time.

Execute procurement spending with ease.

Assign individual Rho corporate cards to specific vendors or categories of company expenses, simplifying your procurement and accounts payable processes.

Pay for employee travel-related business expenses.

Book your flights and pay for team and client meals with Rho corporate cards to specific budgets or teams.

Distribute employee cards with full control.

Give your employees cards with strict spend limits and controls that help them pay for needed materials and office supplies while maintaining expense policy compliance.

Manage client budgets.


From construction companies to advertising agencies, Rho corporate cards can help track granular spending by client or job code, making budgeting easier.

Limit cardholder access to the C-Suite.

Some businesses prefer to limit corporate card access to senior executives or owners.
Rho corporate cards can easily be assigned just to senior level employees.

Open an account in minutes & get back to building

1.

Open a Rho account today.

Get up and running in minutes, gaining access to the right tools to help your business grow - corporate cards, banking, AP, expenses, and treasury.
2.

Experience reliable customer support that cares.

Our dedicated support specialists are here to help make your Rho onboarding experience a breeze.
3.

Start earning yield today.

Rho automates a lot of what founders don’t have time to manage themselves – including generating competitive yield on your non-operating cash.
Alex Marcus photo.
"Rho is a tech-forward platform that helps founders do everything we need to manage finances operationally – and save hours and money in the process.”
Alex Marcus, CEO & Co-Founder

Learn about other startups running on Rho

FAQs

Answers to common questions about Rho Business Checking and Savings Accounts.

Is my business eligible to open a Rho checking account?

To be eligible for Rho, your business must be incorporated in the United States. Rho serves small business owners, startups, middle-market and enterprises across industries.

We do not offer services to sole proprietorships or unincorporated businesses, so small business banking services – like a small business checking account – from another financial institution may be a better fit for these types of entities.

Is Rho a bank?

No. Rho is not a bank. Rho is a financial technology company built on a network of commercial banks, dedicated to helping organizations take charge of their finances.

At Rho, we provide digital banking solutions, business credit cards, accounts payable, and more — all through one, intuitive platform. Banking services are provided by Webster Bank, N.A. and other partner institutions, supported by Rho's technology platform and services.

Who is Rho’s sponsor bank?

Rho banking services are provided by Webster Bank, N.A. Member FDIC, supported by Rho's technology platform and services.

What do I need to set up a new business checking account with Rho?

To be eligible for Rho, your business must be incorporated in the United States. We do not offer services to sole proprietorships or unincorporated businesses. Terms & conditions apply. 



To open a business checking account with Rho, we require general business information and key documents including:


  • Articles of Incorporation
  • Company bylaws
  • EIN letter
  • Beneficial owner information
  • Additional supporting documents where applicable
  • Other information, including social security number

Does Rho have a mobile app?

Yes, the Rho app is available on iOS and Android devices for both Rho account admins and employee users.

Employees can use the Rho app to manage expenses, upload receipts, request spend limit increases, and access virtual cards for card payments.

Rho admins can do the same plus manage mobile banking needs like depositing checks and checking account balances.

Does Rho offer business savings accounts?

Yes. The Rho Business Savings Account (formerly known as Treasury Management Accounts) is built on a network of over 400 FDIC-insured banks, allowing you to access up to $75M in FDIC deposit insurance per entity (e.g. LLC).

Currently, qualifying clients earn up to 2.75% APY (annual percentage yield) on Rho Business Savings Accounts, helping you put your money to work as interest rates change.

Once you enroll, interest will be earned by you with the Rho Business Savings Account will be calculated by ADM each statement cycle. This is in contrast to many business savings accounts, which offer 0.01% APY (national average) on your deposits.

Does Rho charge ATM fees?

Since we do not offer ATM withdrawals at this time, nor do we offer cash deposits or business debit cards, we do not charge ATM fees.

We also don’t charge ACH fees, monthly maintenance fees, or monthly service fees with Rho business checking and savings accounts.

The only exception is Rho Treasury (formerly known as Rho Prime Treasury), our bespoke treasury management solution, that has a small maintenance fee. Learn more about our pricing today.

Does Rho have any minimum balance requirements?

No, we do not have minimum opening deposit requirements at this time.

Does Rho offer money market funds?

No. Our cash management offering, Rho Treasury (formerly known as Rho Prime Treasury), only invests your idle cash in high-grade assets, like U.S. T-Bills, that align with your customized investment policy and liquidity needs.

If your company’s investment policy allows for high-end investment-grade corporate bonds and U.S. Bank CDs (certificate of deposits), then those may be held in your account as well.

Assets are held in your company’s name, which is an important distinction from money market funds. Read our blog post about money market account for more info, including their risks vs. T-Bills.

Does Rho offer personal checking accounts?

No, Rho is not a personal finance solution and only offers business banking services.

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Rho is not a bank. Banking services and cards issued by Webster Bank, N.A. Member FDIC.