Minimum deposits held in Mercury
To qualify for an IO credit account, your Mercury account needs to have an average of at least $15k deposited across your Mercury checking, savings, and Treasury accounts. General history and usage of the Mercury platform will also be considered.
In order to maintain access to IO, we ask that you maintain a minimum average 30 day balance of $10k across your Mercury account. Should your balance fall below this minimum, your account credit limit may be decreased or reduced to 0 until the requirement has been met once more.
Deposits held in linked accounts
Note: We’re opening early access to additional credit based on balances in external, linked accounts. To qualify, you must meet IO’s minimum cash deposit of $15k and have $150k or more held in external accounts. To learn more about getting access, reach out to support@mercury.com.
You can determine if your Mercury account qualifies for IO by going to your Credit Card page. If you qualify, you’ll be prompted to set up your IO account and card. If not, you’ll see instructions to apply.
Same-day Payment IO Exception
Some businesses qualify for an IO account that requires same day repayment of balances, as well as a lower borrowable limit. These exceptions are determined by many different factors, such as the company’s size, spending patterns, and fundraising history.
If you have qualified, you should see the option to create an IO when signing up for your Mercury account.
Business owners with accounts that qualify for the lower limit and same-day repayment version of IO will receive a physical IO card after their first deposit. It is also worth noting that once an account with this offer meets or exceeds the minimum balance of our core IO product ($15k in balance), they will have the option to choose daily, weekly, or monthly repayment, as well as be offered a higher limit.
The IO Card is issued by Patriot Bank, Member FDIC, pursuant to a license from Mastercard.