To qualify for an IO credit account, your Mercury account needs to have an average of at least $25k deposited across your Mercury checking, savings, and Treasury accounts.
You can determine if your Mercury account qualifies for IO by going to your Credit
Card page. If you qualify, you should be able to enroll on the Credit Card page
to set up your IO account. If not, you'll see instructions similar to those above.
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 ($25k 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.