Mercury, Relay, Novo, or Brex: Best Business Bank Account for Personal Errand & Concierge Services
Starting a personal errand service, concierge business, or senior companion company means you're busy from day one. Getting your finances set up correctly is crucial. The market for business bank accounts, especially from fintech companies, offers great options but can be confusing. Mercury, Relay, Novo, and Brex are top choices, each with different strengths. Picking the right one early can save you time, avoid unnecessary fees, and prevent financial headaches down the road.
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The Quick Answer
Relay is excellent for personal errand businesses that need to track expenses by category (e.g., fuel, client purchases, marketing, taxes) or use a system like Profit First for budgeting. It's great for collaborating with a part-time bookkeeper. Novo is ideal for solo errand runners, personal shoppers, or senior companions who need a fast, free setup and easy integration with common payment tools like Square or Stripe for client invoicing. Mercury might fit concierge services planning to expand quickly with a small team and need more robust features down the line. Brex is best for larger concierge companies with several drivers or assistants who need corporate cards for client purchases or fuel, and robust expense tracking for their team.
Side-by-Side Breakdown
Mercury: $0/month. FDIC coverage $250K standard, $5M+ through sweep network. Best features: strong API for scaling operations, team permissions, advanced money management. Best for concierge businesses with growth plans, perhaps managing multiple contracts or a small administrative team.
Relay: $0/month (Pro $30/month). FDIC coverage $3M through program. Best features: up to 20 checking accounts for budgeting (e.g., "Fuel Account," "Client Supplies," "Marketing," "Tax Savings"), easy collaboration with a bookkeeper or accountant. Best for personal errand runners or senior companions who want precise control over their cash flow and expense categories.
Novo: $0/month. FDIC $250K. Best features: extremely fast online setup, seamless integration with Square, Stripe, or Shopify for accepting client payments and invoicing, easy expense tracking. Best for solo errand runners, personal shoppers, or TaskRabbit operators going independent who need simplicity and quick cash flow management.
Brex: $0 basic, varies for full platform. FDIC $6M+ through sweep. Best features: corporate cards for drivers or assistants for client purchases (e.g., groceries, specific items), automated expense reporting for mileage or purchases. Best for concierge businesses with 3+ employees/contractors making regular purchases for clients.
When to Choose Mercury
Mercury works well if your personal errand or concierge service is already growing, perhaps managing several recurring client contracts or employing a small team. If you plan to scale up to multiple drivers or specialized services and might eventually need custom integrations for advanced scheduling software or fleet management, its API could be useful down the line. It's built for tech-forward businesses, which could apply if you're building a sophisticated mobile platform for your services.
When to Choose Relay
Relay is perfect for personal errand runners, personal shoppers, or senior companions who want to manage their money very carefully. Imagine having separate accounts for "Gas & Vehicle Maintenance," "Client Purchase Reimbursements," "Marketing & Software (like your scheduling app)," and "Tax Savings." This helps you see exactly where your money is going and ensures you always have funds for specific needs, like quarterly tax payments or a major car service. Its bookkeeper access also makes it simple to share financial data if you use an outside accountant to handle your annual taxes.
When to Choose Novo
Novo is often the best choice for new or solo personal errand runners, independent TaskRabbit operators, or senior companions. It's incredibly fast to set up online, meaning you can get your business bank account running almost instantly. If you use Square for processing mobile payments at a client's door, or Stripe for online invoicing for recurring services, Novo integrates smoothly, making it easy to see all your transactions and reconcile payments. It's genuinely free, with no minimum balance, which is great when you're just starting out and watching every dollar.
When to Choose Brex
Brex becomes valuable when your concierge service has grown to a point where you have a small team of 3-5 (or more) drivers or personal assistants. If your team members are frequently making purchases for clients (e.g., buying groceries, picking up specific items from stores, or filling up gas tanks), Brex offers corporate cards and an expense management system that simplifies tracking these costs. This means less paperwork and easier reimbursement, freeing you up to focus on client service rather than chasing receipts from your team. For a solo operator, it's likely overkill.
The Verdict
Novo is best for most new or solo personal errand runners, personal shoppers, or senior companions who need a fast, simple setup and good integration with client payment apps. Relay is ideal for service providers who want strict budgeting, multiple accounts for different expense categories (like fuel, client purchases, taxes), and easy collaboration with an accountant. Mercury should be considered if you're planning significant expansion for your concierge service and might eventually need advanced features or have a small administrative team. Brex only makes sense if you have a team of drivers or assistants who regularly make purchases for clients and you need streamlined corporate cards and expense tracking. All four are free to open initially. You can switch later, but moving all your payment details and direct debits is a hassle, so try to choose wisely upfront.
How to Get Started
All these banks let you open an account online, often in just a few minutes. To apply, you'll generally need your Employer Identification Number (EIN) if you have one (or your Social Security Number if you're a sole proprietor), any business formation papers (like LLC documents), and a government-issued ID. Novo is usually the quickest to get approved, which is a big plus when you're eager to start your personal errand or concierge business. Mercury and Relay might have a slightly longer review process. Apply with the bank that best matches your service's current size and financial needs.
RECOMMENDED TOOLS
Mercury
Best business banking for funded startups and tech founders
Relay
Multi-account banking built for budget management and bookkeeper collaboration
Novo
Fast setup with Stripe, Square, and Shopify integrations
Brex
Banking, corporate cards, and expense management for venture-backed teams
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FREQUENTLY ASKED QUESTIONS
Are these real banks or fintech apps?
They are fintech companies that partner with FDIC-member banks to hold your deposits. Your deposits are FDIC-insured, but you are not banking directly with a chartered bank.
Can I use one of these and also keep a traditional bank account?
Yes. Many founders use Mercury or Relay as their primary operating account and keep a local credit union or Chase account for in-person cash deposits.
What if I am not approved?
Mercury and Relay can decline applications, often due to business type or state restrictions. Novo is generally more permissive. If declined, try another option or use a traditional bank while you build account history.
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