Slash, Mercury and Brex: 2026 business banking differences

Slash, Mercury and Brex operate as fintech platforms that route customer deposits through FDIC-member partner banks rather than holding deposits directly. The firms differ on ownership, partner banks, account rules and product features in 2026.

Slash is an independent company that closed a $100 million Series C in April 2026 at a $1.4 billion valuation. Banking services are provided by Column N.A. Slash offers a free account tier and a Pro tier at $25 per month. It issues a Slash Platinum charge card under Visa with up to 2% cashback and unlimited virtual and physical cards with per-card controls. Published yields on idle cash were in the mid-3% range in 2026. The company reports FDIC coverage through Column’s participation in an insured sweep network that spans hundreds of banks. Slash also offers native stablecoin rails and an AI financial agent called Twin.

Mercury is an independent company with a reported valuation of $5.2 billion and more than 300,000 business customers. It uses partner banks including Column N.A. and Choice Financial. In April 2026 the Office of the Comptroller of the Currency granted conditional approval for Mercury to establish a national bank charter called Mercury Bank; conversion to an operating bank would change its current reliance on partner arrangements. Mercury publishes no minimum revenue, no personal guarantees and no minimum employee count for account eligibility. Its Mercury Treasury product sweeps balances into U.S. Treasury securities at published yields around 4%, subject to a $250,000 minimum. The Mercury IO charge card is a charge card that earns up to 1.5% cashback and ties credit limits to cash balances. Mercury offers a developer API and an investor introduction program called Mercury Raise.

Brex was acquired by Capital One in a transaction that closed on April 7, 2026, at about $5.15 billion. It operates through partner banks including Column N.A., Emigrant Bank and Fifth Third Bank. Brex restricts accounts to incorporated entities and has reported eligibility thresholds around $400,000 in monthly revenue or venture backing. Brex Cash is structured as a brokerage cash management account that uses an insured sweep network to provide FDIC coverage commonly cited around $6 million. In January 2026 Brex reported a 3.74% yield on cash invested in a government money market fund and no yield on uninvested balances. The platform sells expense management, bill pay, travel booking and multi-entity card issuance, and the Brex charge card uses a category-based rewards model. Published pricing runs from a free Essentials tier to a Premium tier at $12 per user per month and enterprise contracts for larger customers.

All three firms issue charge cards rather than traditional revolving credit and list Column N.A. among their partner banks. Published sweep coverage ceilings, yield rates and eligibility requirements differ across the platforms and are updated frequently.

Stablecoin support varies. Slash offers native stablecoin rails. Brex has referenced cryptocurrency transfer features that were reported as not broadly available to users in 2026. Mercury’s public materials emphasize conventional banking rails, treasury products and API access.

Key factual differences for businesses include who can open accounts, the minimum idle cash required to access treasury yields, how deposits are protected through sweep arrangements, and the mechanics of card rewards and treasury products. Published figures on yields and coverage change over time and should be verified with each provider.