# Breakthrough banking for biotech & life sciences The secure and powerful all-in-one banking [solution for researchers and builders](/content/life-science#footnote-business-not-a-bank-sans-evolve/index.html) in therapeutics, diagnostics, devices, software, and beyond. Mercury is a fintech company, [not an FDIC-insured bank](/content/how-mercury-works/index.html). Banking services provided through [Choice Financial Group](/content/legal/choice/sweep-program-deposit-placement-and-custodial-agreement/index.html) and [Column N.A.](/content/legal/column/sweep-program-deposit-placement-and-custodial-agreements/index.html), Members FDIC. Deposit insurance covers the failure of an insured bank. ## Empirically better banking for biotech & life sciences Deposit protection is in our DNA Get up to $5M [in FDIC insurance through our partner banks](/content/how-mercury-works/index.html) and [sweep networks](/content/blog/understanding-bank-sweep-network/index.html) — plus access additional security through a money market fund. [Learn more](/content/security/index.html) Put your company’s idle cash to work Set rules to automatically move surplus funds from your operating account to your Mercury Treasury account and earn up to 3.65% [yield with funds offered by J.P. Morgan Asset Management and Morgan Stanley](/content/life-science#footnote-business-treasury-rate-of-return-and-condensed-ria/index.html). [Discover Treasury](/content/treasury/index.html) Your expanded health and life science support team Get a dedicated Relationship Manager who is deeply ingrained in the industry to assist with your growth — guaranteed for all Mercury Pro customers and those with a $10M+ balance. ## Banking should do more. Now it can. Send payments without the fees or phone calls Pay team and contractors with free USD wires, ACH, and checks without leaving the lab, and even save time with recurring payments. Streamline bill payments and 1099 filing [here](/content/life-science#footnote-blog-not-tax-advisors/index.html). Earn 1.5% on everything you explore with credit cards for your team, and stay in control with customized spending limits for each card (and no annual fees). ## Extraordinary banking has its perks | | | | --- | --- | |
QuickBooks30% off for 6 months | | |
AWSMercury members are eligible for up to $5,000 AWS Activate credits | | |
Hatch Bio Labs50% off the first month's license fee | | |
Camber Road1% off | | |
Omnisync10% off pro plan for 12 months | | |
OpenGrants90% off the OpenGrants platform for a year and 20% off all consulting services | | ## Partnering with industry leaders > At Lactiga, we’re focused on R&D so we want to minimize time spent on banking. Mercury’s intuitive dashboard and long list of (free!) payment options has helped us quickly transfer funds by wire, ACH, and check – even internationally – and it all feels so easy. > Viraj Mane, PHD > **Co-founder & CSO, Lactiga** > I love how easy it is to process payments without having to call to verify each one. Plus, Mercury’s permission structure lets me give the team access to the info they need while keeping the account secure. > Dina Burkitbayeva > **CEO, Freedom Biosciences** > Mercury has been there for us as a company since day one. The online access and tooling is what a modern experience should feel like and their products have been great for protecting and responsibly growing our $12M seed fundraise. > Wyatt J. McDonnell, PhD > **Co-founder & CEO, Infinimmune** ## Frequently asked questions ### What do I need to apply for an account? You’ll need your company’s official formation documents, your IRS-issued EIN document, and a government ID (e.g., a passport or U.S. government identification document – see all acceptable documents [here](https://support.mercury.com/hc/en-us/articles/28770957425172-Gathering-your-documents)). ### What does it cost to use Mercury for businesses? Mercury business banking is free to use. There are no account minimums, overdraft fees, monthly fees, or account opening fees. However, certain advanced features may incur fees. Learn more about pricing [here](/content/pricing/index.html). ### Is wiring USD internationally really free? As a Mercury customer, you have the option to send USD international wires for free. ### How does Mercury keep my money safe? Your checking and savings deposits are held in your name across a [sweep network](/content/blog/understanding-bank-sweep-network/index.html) of multiple regulated banks. ### Are my deposits FDIC-insured? Mercury checking and savings deposits are FDIC-insured up to $5M [through our partner banks](/content/blog/inside-mercury/how-mercury-works-with-partner-banks/index.html). ### How does Mercury make money? Mercury earns money through various channels like interest on deposits and fees paid on Mercury Treasury. ### What platforms does Mercury integrate with? Mercury integrates with accounting tools like QuickBooks Online, Xero, and NetSuite.