Why am I being shown new user agreements?
Since your Mercury account will soon be directly connected to our partner bank, Evolve Bank & Trust, we are updating our user agreements to reflect that change. These documents entail deposit agreements for your checking and savings accounts as well as a new cardholder agreement. You may view the updated agreements online to better understand how they impact your Mercury account.
What happens next?
We're in the process of making some behind-the-scenes updates to one of our payment processors over the next few weeks. Here's what you need to know on how this may affect your Mercury account:
- While your bank account numbers will remain unchanged, your account services will be unavailable for a few hours while we perform the update. This will take place on a Saturday or Sunday when the U.S. banking system is closed. You'll be notified of your scheduled downtime in advance by email.
- All of your physical and virtual debit cards connected to Evolve Bank & Trust will stop working and need to be replaced. (See “How do I know if this applies to me?” for more information on how to find out if your debit cards are connected to Evolve.)
- If you have one or more virtual debit cards connected to Evolve Bank & Trust, they will be automatically replaced and given new numbers by Mercury.
- If you have one or more physical debit cards connected to Evolve, they can be replaced upon request — you’ll just need to confirm your address in your Mercury dashboard.
Rest assured: All queued payments will still be sent and received within the expected time frames, so you should see them reflected in your account after this maintenance period.
How do I know if this change applies to me?
This update applies to all Mercury accounts that are connected to Evolve Bank & Trust, one of our two partner banks. Here’s how to check if your account is connected to Evolve:
- Log in to your Mercury account.
- Under the Accounts tab on the left side of your screen, select one of your checking accounts.
- In your account’s bank information, you’ll find its routing number. If the account is connected to Evolve, it will have this routing number: 084106768.
We’re also sending custom communications to all relevant users based on their accounts and user statuses. Different accounts will have different schedules for downtime/maintenance, so if you’re an account admin or a cardholder, keep an eye on your inbox for the specific dates that apply to you and your account.
Why is this happening?
At Mercury, our mission has always been to provide startups with a high-quality banking experience that offers more direct access to the U.S. banking rails.
That’s why we’re updating one of our payment processors and streamlining our relationship with one of our two partner banks, Evolve Bank & Trust. With this transition, you’ll have access to even faster processing times and expanded banking capabilities — like contactless debit card payments and merchant-specific cards — all built on the same secure, delightful product you’re used to.
Ok, I have debit cards connected to Evolve Bank & Trust. Do I need to do anything?
As a part of this change, your Evolve debit cards will be replaced and given new numbers. This means:
- If you have one or more virtual debit cards connected to Evolve, they will be automatically replaced. These new Evolve cards will be ready to use after your scheduled downtime. Once you have your new card numbers you can add them to your mobile wallet.
- If you have one or more physical debit cards connected to Evolve, you can have them replaced upon request. You’ll need to confirm your shipping address and we’ll ship your new card(s) one business day after your scheduled downtime — they should arrive within about two weeks. These new Evolve debit cards will feature expanded capabilities like contactless payment and merchant card lock.
- Due to shipping time constraints, we will be temporarily blocking any new physical debit cards from being created in the two weeks leading up to your scheduled account maintenance. You will still be able to create virtual debit cards, right up to when the account maintenance period begins.
Log in to your Mercury account to see which actions apply to you.
To prepare for the debit card transition, we recommend moving any existing subscriptions on your current Evolve debit card(s) to your IO credit card(s). If you don’t yet have an IO card and want to create one, check your eligibility in your Cards dashboard. Your credit cards will stay the same and are available to use during the scheduled downtime, however, you will be temporarily unable to edit and manage them from your Mercury account.
How will this affect my checking and savings accounts? Do I need to do anything?
Your checking and savings account numbers will remain unchanged. However, your account will experience a few hours of downtime while we perform this upgrade, during which account services will be unavailable. You will also not be able to create any new checking accounts in the week leading up to your scheduled downtime. The downtime will occur on a Saturday or Sunday when the U.S. banking system is closed — and you’ll receive an email notification from our team ahead of your account’s scheduled maintenance period notifying you of when to expect that downtime.
To prepare for the upcoming account maintenance, we strongly recommend scheduling any necessary money movements in advance. All queued payments will still be sent and received within the expected time frames so you should see them reflected in your account after this maintenance period.