Mercury: who holds your money

Mercury's disclosure, read on September 5, 2026, describes FDIC pass-through coverage, deposit insurance through partner banks. Coverage depends on customer identification and recordkeeping. It protects eligible deposits when a partner bank closes, not the app company itself. An app closure does not trigger that protection. The visible disclosure and notes provide the programme’s specific conditions.

Current commentary

Mercury is not a chartered bank, so customer deposits sit at Choice Financial Group and Column National Association, both letter A. Those grades compare each bank with banks of similar size on this site. Pass-through FDIC insurance, federal insurance for eligible deposits, reaches customers through the 2 partner banks when Mercury’s records identify each customer. Coverage is $250,000 per depositor, per insured bank, for each account ownership category. Mercury’s disclosure was read September 5, 2026.