Overview
Mercury
Mercury is a financial operations platform that combines banking, bill pay, invoicing, expense management, and corporate cards in one place, with a free enriched Xero integration. Every transaction across every product syncs to Xero with merchant details and AI-suggested GL codes.
Banking
Free checking and savings with no fees, no minimums, and free USD wires. Up to $5M in FDIC insurance through partner banks. Sub-accounts for organizing funds by purpose. Treasury yields up to 3.65% on idle cash.
Spend management
The IO Mastercard earns 1.5% cashback with no annual fee and no personal guarantee. Create as many virtual cards as you need for ad spend, contractors, or departments. Spend controls and card-level limits keep budgets in check, and every transaction flows into Xero pre-categorized.
Bill pay
Pay vendors directly from your account with AI that reads invoices, populates details automatically, and remembers past recipients. Duplicate detection catches repeat bills before they go out. Approval workflows let you control who can authorize payments and at what thresholds. All bill data syncs directly to Xero with GL codes attached.
Invoicing
Create and send professional invoices from the same platform where you manage your money. Customers can pay by credit card, Apple Pay, Google Pay, ACH, wire, or ACH debit. Set up recurring invoices and one-click payment reminders. When a customer pays, the funds land in your account and the payment record syncs to Xero automatically.
Accounting automations
Mercury's free Xero integration pulls in your GL codes and lets you categorize transactions before they hit your ledger. AI pre-fills GL codes based on your history and improves over time. Assign codes to bills, card transactions, reimbursements, wires, ACH, checks, and internal transfers from one dashboard. The sync is one-way (Mercury to Xero), giving bookkeepers a clean review step before data lands in the ledger.
Built for bookkeepers
A dedicated bookkeeper role gives accountants access to categorization and sync settings without exposing balances, routing numbers, or sensitive account details. Your clients get a full financial operations platform. You get structured, pre-categorized data flowing into Xero.
Getting started
Connect in minutes from Settings > Integrations in Mercury. The Xero integration is free on all plans. Paid plans start at $35/month for advanced invoicing and larger team reimbursements.
Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC. FDIC deposit insurance covers the failure of an insured bank. Deposits in checking and savings accounts are FDIC-insured through Choice Financial Group and Column N.A. and their Sweep Program Network Banks. Certain conditions must be satisfied for pass-through FDIC insurance to apply. Learn more here.
Mercury + Xero
Mercury's Xero integration syncs transaction data from across the platform, including banking, bill pay, invoicing, corporate cards, and expense reimbursements, directly into your Xero ledger. The enriched integration is completely free.
How it works
Mercury sends a bank feed to Xero automatically multiple times a day. The enriched integration layers on GL codes, counterparties, attachments, and notes that you apply in Mercury before syncing. When enriched data syncs, it updates the existing bank feed entry in Xero rather than creating duplicates.
Transactions follow a three-step workflow on the Accounting page: Needs Review, Mark as Ready, and Sync. Mercury's AI pre-fills GL codes based on your history (indicated with a sparkle icon) and improves over time. You can also create categorization rules that auto-apply GL codes based on transaction attributes.
What syncs
GL codes can be applied to bills, credit and debit card transactions, expense reimbursements, wires, ACH transfers, checks, and internal transfers. Recurring payments inherit the GL code from the first transaction. Treasury can sync via bank feed. Invoice payments sync automatically once paid.
Spend management
Corporate card transactions and employee expense reimbursements flow through the same Accounting page and sync to Xero with GL codes and receipt attachments. Admins set spend limits per card, configure receipt and note policies, and send automated reminders to employees who haven't uploaded receipts. Employees can categorize their own card spend and submit expenses on mobile. Bookkeepers review and correct everything on the Accounting page before syncing to Xero, so the data arrives clean.
Bill pay
Assigning a GL code during payment creates an unpaid bill record in Xero. Once paid, it's automatically marked as paid. If no invoice number, date, or due date is provided, the payment syncs as an expense instead.
Xero-specific details
Counterparties are required by Xero, and Mercury pre-fills them. Credit card transactions feed into a dedicated Mercury Credit account (#MERC) in Xero. The sync is one-way (Mercury to Xero), so GL code updates should be made in Mercury.
Access
Admin and Bookkeeper roles can manage the integration and sync. Employees can categorize their own transactions but cannot access the Accounting page or sync controls.
Pricing plans
Mercury
- AI-Native Banking
- Spend Management
- Corporate Cards
- Bill Pay
- Invoicing
- Treasury
- Venture Debt & Lending
- Payroll
Getting started
o customers can earn a $500 bonus when you deposit $10K in the first 90 days, plus 2% cash back on all card spend for the first 12 months, then 1.5% after that. Apply using the link.
