Mercury vs Brex vs Relay: Best Business Bank Account for Handyman & Home Services Pros
As a handyman, electrician, or home services pro, your business bank account is more than just a place to keep your earnings. It's how you manage job payments, pay for tools, and keep your business healthy. Mercury, Brex Cash, and Relay are popular digital banking options that fit well with independent contractors and small trade businesses, each offering different perks for managing your money, your team, and your job costs.
READY TO TAKE ACTION?
Use the free LaunchAdvisor checklist to track every step in this guide.
The Quick Answer
Mercury is usually the top pick for independent contractors, solo electricians, or new handyman services: it's easy to use, has no monthly fees, and just works. Relay is a smart choice if you have a crew, manage multiple projects, or want to set aside money for specific costs like materials, payroll, or taxes in separate accounts. Brex Cash is best if you're already using Brex for your business credit card and want to see all your spending and cash in one place.
Side-by-Side Breakdown
Mercury: No monthly fees. No minimum balance – good for when job payments vary. FDIC insured up to $5M. Offers a 'Treasury' option to earn a bit extra on cash you don't need right away, like your buffer for big equipment repairs. Handles common payments like ACH for suppliers, wires for large material orders, and checks for subs or rent.
Relay: No monthly fees (Relay Pro at $30/month offers more accounts and cards). You can open up to 20 separate checking accounts and get 50 debit cards. This is great for sorting money for different jobs (e.g., 'Smith Kitchen Remodel,' 'HVAC Repair Fund'), different costs (e.g., 'Payroll,' 'Taxes,' 'Tools & Materials'), or giving cards to crew members with spending limits.
Brex Cash: Free if you use the Brex corporate credit card. FDIC insured up to $6M. Can earn a good rate on your daily cash balance. It’s built to work smoothly with the Brex card for all your business spending, like lumber, electrical supplies, or contractor software subscriptions. You can’t open a Brex Cash account by itself; it's tied to their credit card.
When to Choose Mercury
Choose Mercury if you’re a new handyman, solo electrician, painter, or small remodeler just starting out. You want a simple, no-fee business account that gets you going fast. If you need a clean place for your daily job earnings and a separate spot for emergency funds (like replacing a broken chop saw or vehicle repairs), Mercury is a solid pick. It's often the quickest to set up, getting you approved and banking-ready in a day or two without needing to visit a bank.
When to Choose Relay
Pick Relay if you have a crew, even just one or two helpers, and you need to control who spends what. It’s perfect if you want to set aside money for specific purposes: a separate account for paying subcontractors, another for weekly payroll, one for sales tax, and a different one for your annual liability insurance premium. This helps you keep job costs straight and makes it easier to follow a 'Profit First' style of money management for your trade business.
When to Choose Brex Cash
Consider Brex Cash if you’re already using the Brex corporate credit card to buy materials, tools, or fuel. It brings your spending and cash together in one place. You get a good return on your daily cash, and you can see all your tool purchases, lumber yard bills, and bank funds on one dashboard, which simplifies tracking your job costs.
The Verdict
Most independent contractors and new home service pros should start with Mercury. It's straightforward, no-fuss, and just works. If your business grows, you hire a crew, or you want to strictly separate money for different jobs or expenses, then move to Relay. Only consider Brex Cash if you’re fully committed to using the Brex credit card for all your business spending.
How to Get Started
Mercury: Apply at mercury.com. You’ll need your EIN (Employer Identification Number), your business registration papers (like LLC docs), and your personal ID. Approval for new trade businesses is usually quick, often within 24-48 hours.
Relay: Apply at relayfi.com. Before you open, think about how you want to split your money. Decide how many separate accounts you’ll need for things like 'Payroll,' 'Materials,' 'Taxes,' or specific 'Job Funds' upfront. This planning saves you work later.
Brex Cash: You open Brex Cash as part of the Brex corporate credit card application process. Remember, you can’t get Brex Cash by itself; it's always paired with their credit card.
RECOMMENDED TOOLS
Mercury
No-fee startup banking with API access
Relay
Multi-account business banking for teams
Brex
Banking + corporate cards in one platform
Some links above are affiliate links. We may earn a commission if you sign up — at no extra cost to you.
FREQUENTLY ASKED QUESTIONS
Are Mercury and Relay real banks?
No. Both are financial technology companies that partner with FDIC-insured banks to hold deposits. Your deposits are FDIC insured, but Mercury and Relay themselves are not chartered banks.
Can I use Mercury or Relay for payroll?
Yes — both support ACH transfers needed for payroll. But most businesses use a dedicated payroll platform (Gusto, Rippling, ADP) and simply connect it to their Mercury or Relay account for the ACH pull.
Which account earns the most interest on cash?
Mercury Treasury earns a competitive yield on balances over $500K. For smaller balances, Brex Cash currently offers the highest yield on operating balances among the three. Rates change frequently, so compare current rates at account opening.