Mercury: who holds your money
Mercury is not a bank. Mercury says customer money is held at Choice Financial Group and Column National Association, with insurance reaching customers as pass-through FDIC insurance at the partner bank, subject to the app's recordkeeping. We read this information in the app's own public disclosure on September 5, 2026, and this page quotes that disclosure below. You can check each partner bank's own page on this site.
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.
Partner banks
- Choice Financial GroupFDIC #9423 · program bank26.5%above the insured limitA80.0
- Column National AssociationFDIC #58224 · program bank86.1%above the insured limitA87.0
The figure is the share of total bank deposits above the $250,000 federal insurance limit, reported quarterly to the FDIC. High shares are normal for banks holding large app program balances. They do not mean your balance is uninsured: pass-through insurance usually covers customers individually at the partner bank. Across US banks in 2022 to 2026, those above roughly 36% saw large quarterly total deposit declines more often than those below. Most banks above that level saw no such fall. This measures deposit movement and does not predict trouble for any bank.
Disclosure
Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC.
mercury.com · as of September 5, 2026