First Citizens Innovation Banking (formerly Silicon Valley Bank) vs Mercury: what each publishes
As of October 17, 2026, First Citizens Innovation Banking (formerly Silicon Valley Bank) takes these industries by its own published rules: Unlicensed financial services, with conditions; AI and SaaS, with conditions; Marketplace, with conditions. Mercury: AI and SaaS; Marketplace, with conditions.
Not a ranking: the two names are in alphabetical order. The free check applies every provider’s rules to your own answers.
Where it takes companies from
First Citizens Innovation Banking (formerly Silicon Valley Bank)
The regions its own documents name, read on October 16, 2026
Policy by industry
| Industry | First Citizens Innovation Banking (formerly Silicon Valley Bank) | Mercury |
|---|---|---|
| AI and SaaS | With conditions | Yes |
| Unlicensed financial services | With conditions | No |
| Marketplace | With conditions | With conditions |
| Crypto | Depends on the activity | Depends on the activity |
| iGaming | No published rule | No |
| Adult | No published rule | No |
| Forex and CFD | No published rule | No published rule |
Where owners must live
First Citizens Innovation Banking (formerly Silicon Valley Bank)
No published rule
Mercury
No published rule
Rules about countries
First Citizens Innovation Banking (formerly Silicon Valley Bank)
No published rule
Mercury
To open a Mercury account, your company must be formed and registered in the United States or a U.S. territory.
United Kingdom, EU / EEA (western & northern, plus Spain, Italy, Portugal), EU / EEA (Baltics, central & eastern, plus Croatia, Greece, Cyprus, Malta), Switzerland / Liechtenstein, United Arab Emirates, Developed Asia-Pacific, CIS / Central Asia / Caucasus, Latin America, Middle East & North Africa, Africa, Jersey, Guernsey, Isle of Man, Gibraltar, Other offshore centres, FATF-listed jurisdictions, Other
However, we're unable to open accounts for founders who live in – or businesses that operate or do business in – any of the countries and regions listed below. This is based on your country of residence, not your citizenship or nationality.
All countries named (51)
Afghanistan, Albania, Angola, Bangladesh, Belarus, Bhutan, Bosnia & Herzegovina, Burkina Faso, Burundi, Cambodia, Cameroon, Central African Republic, Congo-Brazzaville, Croatia, Cuba, DR Congo, Eritrea, Gambia, Haiti, Indonesia, Iran, Iraq, Kyrgyzstan, Latvia, Lebanon, Lesotho, Liberia, Libya, Maldives, Mali, Mozambique, Myanmar, Nepal, Nicaragua, Nigeria, North Korea, Pakistan, Palestinian Territories, Philippines, Russia, Somalia, South Sudan, Sudan, Syria, Ukraine, Uzbekistan, Vanuatu, Venezuela, Vietnam, Yemen, Zimbabwe
Fees
First Citizens Innovation Banking (formerly Silicon Valley Bank)
| Plan | Account opening | Monthly | Checked |
|---|---|---|---|
| Essentials Checking | Not stated | USD 25 a month, waived with a USD 15,000 monthly average balance ('Monthly account maintenance fee of $25 is waived if billing family monthly average net collected balance is $15,000 or greater') | · Source |
| Essentials Checking through Startup Banking | Not stated | Free for up to three years, then USD 50 a month plus outgoing wire fees ('Free checking through Essentials Checking available for up to three years from account opening') | · Source |
Mercury
| Plan | Account opening | Monthly | Checked |
|---|---|---|---|
| Mercury | Free to open ('opening a Mercury business account is free') | USD 0 a month | · Source |
| Mercury Plus | Free to open ('opening a Mercury business account is free') | USD 29.90 a month billed annually; USD 35 a month billed monthly | · Source |
| Mercury Pro | Free to open ('opening a Mercury business account is free') | USD 299 a month billed annually; more when billed monthly | · Source |
Closing an account
First Citizens Innovation Banking (formerly Silicon Valley Bank)
We may, at our discretion, and without notice, close, cancel, freeze, suspend or terminate any account, product or service you have with us, any time, with or without cause.
Mercury
We may terminate this Agreement, or suspend your Account, at Mercury’s discretion or as provided in the Provider Account Agreements. We will provide notice of termination or suspension to the extent permitted by applicable law.
Licence
| Licensee | First Citizens Innovation Banking (formerly Silicon Valley Bank) | Mercury |
|---|---|---|
| Licensee | First-Citizens Bank & Trust Company · North Carolina state-chartered bank, Member FDIC (FDIC cert 11063) · First Citizens Innovation Banking, formerly Silicon Valley Bank, is a division of it | Mercury Technologies Inc. · banking services via Choice Financial Group (FDIC cert 9423) and Column N.A. (FDIC cert 58224) (US) |
| Regulator | FDIC · | FDIC-insured partner banks · |