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The checked US Mercury business page lists partner-bank checking and savings accounts, debit and credit cards, ACH and wire transfers, bill pay, invoicing and APIs. The IO Charge Card is a separate Mercury Technologies, Inc. programme product; its agreement identifies Patriot Bank, N.A. as issuer and creditor.

Checking/savings banking services are attributed to Choice Financial Group and Column N.A.; Patriot must not be combined with them as a universal deposit-account provider. US company registration and operations, application review and separate product terms matter; an IO deposit account is not required, while an existing one must be in good standing. The feature list does not guarantee credit, applicant acceptance, insurance of every balance or availability in every country; no published price or yield is promised here.

Published provider terms; individual approval is not guaranteed.

not in the sources

primary source cited, quotation verified on 2026-10-17

Is Mercury a real bank? Mercury is a financial technology company, not a bank — but we're working toward becoming one. In April 2026, we received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish Mercury Bank, N.A. Today, we build software to help startups and small businesses run their financial operations, and we partner with regulated banks to hold and safeguard your funds. Banking services on Mercury are provided by our partner banks, Choice Financial Group and Column N.A., Members FDIC. When you open a Mercury account, your funds are held at one of these FDIC-insured banks or their sweep networks. Banking details for each deposit account are available in the Mercury dashboard and on account statements so you can see exactly where your money is held. We're now in the bank organization phase, working toward final authorization from the OCC and pending approvals from the FDIC and the Federal Reserve. Nothing changes for customers in the meantime — you’ll continue using Mercury exactly as you do today.

Business Checking & Savings Accounts | No Monthly Fee | Mercury · snapshot-utf8:12178:13246 · Checked: 2026-10-17

Everything you need for smooth banking Explore demo Free checking & savings accounts FDIC-insured through our partner banks and their sweep networks Corporate cards Virtual and physical debit & credit cards Free wires Free domestic and international USD wires Transparent pricing No hidden or monthly fees Seamless payments Send money via ACH, wire, real-time payment, or check AI built into your account Hand off tasks to Command and get real-time financial insights Get back to building with streamlined banking and financial operations Bank at your speed Apply now Fast online application and onboarding Start spending immediately with virtual cards Complete any banking task in seconds with AI Get instant insights from your money movement Bank on-the-go with an intuitive mobile app Set your finances on auto-pilot Automate money movements with scheduled payments, auto-transfer rules, and payroll wire drawdowns Approve payments instantly via Slack Close the books quickly and accurately with Xero and QuickBooks integrations Skip manual tasks completely and hand off work to Command, your AI assistant Use our CLI, MCP, and APIs to take action directly from your tools Control spend effortlessly with advanced rules Create user-level permissions so that employees and bookkeepers only access the accounts they need Set approval rules for large purchases and specify who can make payments without approval Manage team spend with customizable & flexible card limits Store your funds with complete confidence Learn more Get up to $5M in FDIC insurance through our partner banks and their use of sweep networks Send and receive money seamlessly Secure and straightforward transfers Set up one-time or recurring ACH and wires to move money in or out of your account. From invoice to paid in seconds Forward or upload an invoice and our built-in OCR will auto-fill the details. Then pay however you like — even instantly with real-time payments. Easy global payments Pay global vendors in 40+ local currencies for a transparent 1% currency exchange fee, or send international wires in USD for free. Secure and straightforward transfers Set up one-time or recurring ACH and wires to move money in or out of your account. From invoice to paid in seconds Forward or upload an invoice and our built-in OCR will auto-fill the details. Then pay however you like — even instantly with real-time payments. Easy global payments Pay global vendors in 40+ local currencies for a transparent 1% currency exchange fee, or send international wires in USD for free. 010101 / 03 Access an entire financial platform powered by your Mercury account IO credit card Confidently scale your team with the IO Mastercard. Earn 1.5% cashback with startup-friendly credit limits. Treasury Earn yield on idle cash right alongside your operating accounts. Venture Debt Supercharge your growth and extend your runway with Mercury Venture Debt. Bill pay Streamline your bill payments by powering them directly from your bank account. Invoicing Send invoices, track what you’re owed, and get paid the way you want — all from where you manage your banking. Startup perks Get discounts on hundreds of popular tools, including AWS and Google Cloud.

Business Checking & Savings Accounts | No Monthly Fee | Mercury · snapshot-utf8:3076:6358 · Checked: 2026-10-17

What do I need to apply for an account? You’ll need your company’s official formation documents, your IRS-issued EIN document, and a government ID (e.g., a passport or U.S. government identification document – see all acceptable documents here) for at least one person with operating control of the business, as well as  any owner with at least 25% ownership of your company. You'll also need to provide some information about your company and its owner with operating control.Customers must be formed and registered in the United States or a U.S. territory, have some type of existing or planned operations in the U.S., and have a U.S. or international address for their principal place of business. This can be a residential address, but may not be a registered agent, P.O. box, or UPS box address. Once you apply, we’ll review to ensure formation documents are up-to-date and that your company otherwise satisfies our onboarding requirements.We cannot currently support accounts for businesses with founders or financial controllers living in the countries and regions listed hereOpens in new tab.For more information on eligibility and required documents, please see this articleOpens in new tab. Where are my funds kept and how are my deposits FDIC-insured? Mercury works with two FDIC-insured banks, Choice Financial Group and Column N.A. You can locate your Mercury account’s banking provider by logging in and viewing the banking partner listed on your Mercury statements.Through each of our partner banks, Mercury customers get access to a sweep network of trusted banks. This sweep network provides up to $5M in FDIC insurance by automatically spreading your deposits across up to 20 different banks, without requiring you to open and manage separate bank accounts. Can I apply for an account if I’m not physically in the United States or a United States resident? Yes, we’re proud to support U.S. companies founded by people across the globe. Customers must be formed and registered in the United States or a U.S. territory, must have some type of existing or planned operations in the U.S., and have a U.S. or international address for their principal place of business. This can be a residential address, but may not be a registered agent, P.O. box, or UPS box address.We cannot currently support accounts for business with founders or financial controllers living in the countries and regions listed hereOpens in new tab.We’d love to support residents of more countries over time, so let us know at hello@mercury.comOpens in new tab if you live in one of the above countries and we’ll let you know if anything changes.

Business Checking & Savings Accounts | No Monthly Fee | Mercury · snapshot-utf8:7359:10018 · Checked: 2026-10-17

This IO Charge Card Agreement sets forth the requirements for your participation in the IO Charge Card by Mercury Technologies, Inc. program (the “Program”) and the terms that govern your use of the IO Charge Card (“Card”). The Cards are issued by Patriot Bank, N.A., Member FDIC (“Issuer”), the financial institution responsible for extending credit to you pursuant to this agreement. The terms “You” and “your” mean the Company and the Users authorized by you to use Cards (“Users”). The terms “we,” “us,” and “our” mean Issuer and Issuer’s successors, affiliates, assignees, and service providers. Issuer has entered into an agreement with Mercury Technologies, Inc. (“Mercury”) in which Mercury agrees to provide certain technology services to Issuer related to the Cards and Card accounts ("Account" or “Card Accounts”).  “Agent Card” means a virtual Card designated by Mercury as available for use with an autonomous software agent, automated workflow, or similar non-human actor operating on behalf of a User or the Company (“Agent”). “Agentic Transaction” means any Transaction initiated, authorized, or submitted by an Agent. All Agentic Transactions shall be deemed to be initiated, authorized, or submitted by a User or the Company. “PAN API Access” means the ability to, in accordance with applicable law and regulations, retrieve full primary account numbers, card verification values, expiration dates, or other Card Data through any application programming interface (“API”), command-line interface (“CLI”), Model Context Protocol (“MCP”) integration, or other programmatic means made available by Mercury. “Single-Use Card” means any Card (including an Agent Card) designated at the time of issuance as limited to a single Transaction, which will be permanently closed following the first Qualifying Authorization (as defined in Section 2.16). Mercury is responsible for facilitating communication between you and us, but Mercury is not your agent and Mercury has no obligations to you except those set forth in this agreement. Mercury Servicing LLC (“Mercury Servicing”), an affiliate of Mercury, is the servicer of the Card on behalf of Issuer. Mercury Servicing may perform servicing activities directly or through service providers acting on Mercury Servicing’s behalf. Accordingly, references in this Agreement to Mercury performing servicing, billing, payment processing, collections, customer support, dispute handling, account administration, adjustments, credits, refunds, or similar operational functions include Mercury Servicing and persons acting on its behalf. This agreement is supplemented by the Mercury Terms of Use, the Mercury Privacy Policy, the Issuer Privacy Policy and all other applicable agreements between you, Issuer, and Mercury. You also agree to receive all notices and other communications from us electronically. We reserve the right to make unilateral modifications to this agreement and we will provide notice of these changes by posting an updated version to Mercury’s legal page. Capitalized terms that are not defined in this agreement have the definitions provided in the Mercury Terms of Use. By opening a Card Account, you agree to exclusively use the services and technology offered by Mercury to instruct us with respect to your Card Account. Please read this agreement carefully to ensure that you understand each provision. This agreement contains a mandatory individual arbitration and class action/jury trial waiver provision that requires the use of arbitration on an individual basis to resolve disputes, rather than jury trials or class actions.

Patriot Bank, N.A. IO Charge Card Agreement | Mercury · snapshot-utf8:3108:6812 · Source date: 2026-08-10 · Checked: 2026-10-17

1.1. Eligibility You are not required to maintain a deposit account with a Banking Provider to open a Card Account; if you do maintain such an account, it must be in good standing in order to open a Card Account or request Cards. Please note that there may be separate fees associated with having an Account from those charged in connection with your Card Account. To help the government fight the funding of terrorism and money laundering activities, US Federal law requires that we obtain, verify, and record information identifying companies and their beneficial owners. Mercury will provide Company Information to us and other third-party service providers to determine your eligibility for a Card Account. We rely on the accuracy of the Company Information you provide us when opening and maintaining your Card Account. We may deny your application, suspend Cards or your Card Account or close your Card Account if your Company Information is out of date, incomplete, or inaccurate. You are responsible for notifying us of any changes to your Company Information. You should notify us as soon as possible if you change your beneficial ownership information. We will periodically review your Card Account and we may ask you for additional Company Information to establish the amounts you can spend using the Card (“Spending Limit”), and for other purposes related to your Card Account. We may also request a credit report on your Company and its principals. You agree to promptly provide us all information we request, and you authorize us to request such credit reports in the event we choose to request them. We may exchange information with business credit reporting agencies or other financial service providers we or Mercury may use when evaluating your eligibility for a Card Account.

Patriot Bank, N.A. IO Charge Card Agreement | Mercury · snapshot-utf8:6814:8614 · Source date: 2026-08-10 · Checked: 2026-10-17

Mercury describes its current banking services through Choice Financial Group and Column N.A., Members FDIC. The OCC decision of 24 April 2026 for the proposed Mercury Bank, N.A. grants preliminary conditional approval; it is not final authorization to open.

The OCC separately describes Mercury’s existing state licences for small-business lending, so a value meaning no authorisation of any kind is unsupported. Approval for the proposed bank depends on preopening requirements and does not prove their fulfilment. The checked Mercury page describes the bank organization phase, final OCC authorization and FDIC and Federal Reserve approvals still pending. The agreement, statement and product identify the actual provider; this is not a universal banking licence for every group entity.

Published provider terms; individual approval is not guaranteed.

not in the sources

primary source cited, quotation verified on 2026-10-17

Is Mercury a real bank? Mercury is a financial technology company, not a bank — but we're working toward becoming one. In April 2026, we received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish Mercury Bank, N.A. Today, we build software to help startups and small businesses run their financial operations, and we partner with regulated banks to hold and safeguard your funds. Banking services on Mercury are provided by our partner banks, Choice Financial Group and Column N.A., Members FDIC. When you open a Mercury account, your funds are held at one of these FDIC-insured banks or their sweep networks. Banking details for each deposit account are available in the Mercury dashboard and on account statements so you can see exactly where your money is held. We're now in the bank organization phase, working toward final authorization from the OCC and pending approvals from the FDIC and the Federal Reserve. Nothing changes for customers in the meantime — you’ll continue using Mercury exactly as you do today.

Business Checking & Savings Accounts | No Monthly Fee | Mercury · snapshot-utf8:12178:13246 · Checked: 2026-10-17

Organizing Steps and Pre-Opening Requirements The “Charters” booklet in the Comptroller’s Licensing Manual provides guidance for organizing your bank. The booklet is located at the OCC's web site: Comptroller's Licensing Manual & Forms | OCC. The booklet contains all of the steps you must take to receive final approval. As detailed in the booklet, you may establish the corporate existence of and begin organizing the Bank as soon as you adopt and forward Articles of Association and the Organization Certificate to the Director for Chartering, Organization and Structure in the Washington, D.C. Office for the OCC’s review and acceptance. Once these documents are accepted, the Bank will be deemed a “body corporate.” As a “body corporate” or legal entity, you may begin taking those steps necessary for obtaining final approval. “In Organization” should follow the bank’s name in all official documents, stationery, advertisements, and other references to the bank until it opens for business. The Bank may not begin the business of banking until it fulfills all requirements for a bank in organization and the OCC grants final approval. After reading the instructions for the organization of a new national bank, it is suggested that the spokesperson or other designated representative consult with Director for Chartering, Organization and Structure John J. Hansen to discuss the organization process. The OCC believes that such a meeting can contribute to a more efficient and effective organization process and help avoid common mistakes that have delayed or prevented other banks from opening. See the enclosed Preopening Checklist for a list of requirements that must be met before the bank opens. The Bank must meet the requirements before it is allowed to commence business and the Board of Directors must ensure that the applicable policies and procedures are established and adopted before the Bank begins operation.

OCC Corporate Decision No.1372 — proposed Mercury Bank, N.A. — 24 April 2026 · snapshot-utf8:14227:16182 · Source date: 2026-04-24 · Checked: 2026-10-17

April 24, 2026 Nate Balk Skadden, Arps, Slate, Meagher & Flom LLP One Manhattan West New York, NY 10001 Subject: De Novo Charter Application and Residency Waiver Request Mercury Bank, NA, Salt Lake City, Utah (proposed charter 25404) OCC Control No. 2025-Charter-344332 OCC Control No. 2025-Waiver-344421 Dear Mr. Balk; The Office of the Comptroller of the Currency (OCC) has reviewed your application to establish a new national bank with the title of Mercury Bank, National Association (proposed Bank, or Bank). The OCC hereby grants preliminary conditional approval of your charter application upon determining that your proposal meets certain regulatory and policy requirements. Your request for residency waivers is also approved. This preliminary conditional approval is granted based on a thorough evaluation of all information available to the OCC, including the representations and commitments made in the application and by the Bank’s representatives. The OCC has also made its decision to grant preliminary conditional approval with the understanding that the proposed Bank will apply for stock in a Federal Reserve Bank in accordance with 12 USC 222 1 and will obtain deposit insurance from the Federal Deposit Insurance Corporation (FDIC). The OCC has granted preliminary conditional approval only. Final approval and authorization for the Bank to open will not be granted until all preopening requirements are met. Until final approval is granted, the OCC has the right to modify, suspend or rescind this preliminary conditional approval should the OCC deem any interim development to warrant such action. Proposed Bank The organizing group for Mercury Bank, National Association submitted a de novo charter application to the OCC to establish Mercury Bank, National Association, Salt Lake City, Utah, as a full-service, insured national bank. The Bank would be wholly owned by Mercury Technologies, Inc. (“MTI,” and collectively with its subsidiaries, “Mercury”). As an existing holding company, MTI would serve as the Bank’s sponsoring organization and is applying to the Board of Governors of the Federal Reserve System (“Federal Reserve”) to become a bank holding company and elect to be a financial 1 See also 12 CFR 209.2. holding company. The proposed Bank has filed its application for deposit insurance with the FDIC, which is currently under review. The Bank does not intend to exercise trust powers. The OCC is authorized to charter national banks pursuant to the National Bank Act, 12 USC 21–27. Specifically, 12 USC 27(a) gives the Comptroller the authority to give a national banking association a certificate authorizing the commencement of business. MTI seeks to establish the Bank to expand financial service offerings to its current clients and attract new business and consumer customers. Mercury is an existing financial technology company that offers consumer and small business checking and savings accounts and business charge cards through FDIC-insured bank partners. Mercury also offers secured and unsecured small business loans through its existing state licenses. The Bank anticipates transitioning customers from Mercury bank partners to the Bank and offering loans, deposits, banking services, and customer referral services during the de novo period. The Bank will target two key segments across the deposit and loan offerings: U.S.-based small to medium sized businesses (SMBs) and consumers. The Bank’s main office will be in Salt Lake City, Utah but will have no physical branch presence and will be a fully online bank serving national and global customers.

OCC Corporate Decision No.1372 — proposed Mercury Bank, N.A. — 24 April 2026 · snapshot-utf8:253:3941 · Source date: 2026-04-24 · Checked: 2026-10-17

The Mercury Personal disclosure names Choice Financial Group and Column N.A. as banking-service providers. The separate IO card source identifies Patriot Bank, N.A. as its card issuer.

These roles concern different products and do not identify the provider of every Mercury account. A partner bank’s or card issuer’s permission must not be attributed to the Mercury brand.

Published provider terms; individual approval is not guaranteed.

not in the sources

primary source cited, quotation verified on 2026-10-17

Is Mercury a real bank? Mercury is a financial technology company, not a bank — but we're working toward becoming one. In April 2026, we received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish Mercury Bank, N.A. Today, we build software to help startups and small businesses run their financial operations, and we partner with regulated banks to hold and safeguard your funds. Banking services on Mercury are provided by our partner banks, Choice Financial Group and Column N.A., Members FDIC. When you open a Mercury account, your funds are held at one of these FDIC-insured banks or their sweep networks. Banking details for each deposit account are available in the Mercury dashboard and on account statements so you can see exactly where your money is held. We're now in the bank organization phase, working toward final authorization from the OCC and pending approvals from the FDIC and the Federal Reserve. Nothing changes for customers in the meantime — you’ll continue using Mercury exactly as you do today.

Business Checking & Savings Accounts | No Monthly Fee | Mercury · snapshot-utf8:12178:13246 · Checked: 2026-10-17

This IO Charge Card Agreement sets forth the requirements for your participation in the IO Charge Card by Mercury Technologies, Inc. program (the “Program”) and the terms that govern your use of the IO Charge Card (“Card”). The Cards are issued by Patriot Bank, N.A., Member FDIC (“Issuer”), the financial institution responsible for extending credit to you pursuant to this agreement. The terms “You” and “your” mean the Company and the Users authorized by you to use Cards (“Users”). The terms “we,” “us,” and “our” mean Issuer and Issuer’s successors, affiliates, assignees, and service providers. Issuer has entered into an agreement with Mercury Technologies, Inc. (“Mercury”) in which Mercury agrees to provide certain technology services to Issuer related to the Cards and Card accounts ("Account" or “Card Accounts”).  “Agent Card” means a virtual Card designated by Mercury as available for use with an autonomous software agent, automated workflow, or similar non-human actor operating on behalf of a User or the Company (“Agent”). “Agentic Transaction” means any Transaction initiated, authorized, or submitted by an Agent. All Agentic Transactions shall be deemed to be initiated, authorized, or submitted by a User or the Company. “PAN API Access” means the ability to, in accordance with applicable law and regulations, retrieve full primary account numbers, card verification values, expiration dates, or other Card Data through any application programming interface (“API”), command-line interface (“CLI”), Model Context Protocol (“MCP”) integration, or other programmatic means made available by Mercury. “Single-Use Card” means any Card (including an Agent Card) designated at the time of issuance as limited to a single Transaction, which will be permanently closed following the first Qualifying Authorization (as defined in Section 2.16). Mercury is responsible for facilitating communication between you and us, but Mercury is not your agent and Mercury has no obligations to you except those set forth in this agreement. Mercury Servicing LLC (“Mercury Servicing”), an affiliate of Mercury, is the servicer of the Card on behalf of Issuer. Mercury Servicing may perform servicing activities directly or through service providers acting on Mercury Servicing’s behalf. Accordingly, references in this Agreement to Mercury performing servicing, billing, payment processing, collections, customer support, dispute handling, account administration, adjustments, credits, refunds, or similar operational functions include Mercury Servicing and persons acting on its behalf. This agreement is supplemented by the Mercury Terms of Use, the Mercury Privacy Policy, the Issuer Privacy Policy and all other applicable agreements between you, Issuer, and Mercury. You also agree to receive all notices and other communications from us electronically. We reserve the right to make unilateral modifications to this agreement and we will provide notice of these changes by posting an updated version to Mercury’s legal page. Capitalized terms that are not defined in this agreement have the definitions provided in the Mercury Terms of Use. By opening a Card Account, you agree to exclusively use the services and technology offered by Mercury to instruct us with respect to your Card Account. Please read this agreement carefully to ensure that you understand each provision. This agreement contains a mandatory individual arbitration and class action/jury trial waiver provision that requires the use of arbitration on an individual basis to resolve disputes, rather than jury trials or class actions.

Patriot Bank, N.A. IO Charge Card Agreement | Mercury · snapshot-utf8:3108:6812 · Source date: 2026-08-10 · Checked: 2026-10-17

1.1. Eligibility You are not required to maintain a deposit account with a Banking Provider to open a Card Account; if you do maintain such an account, it must be in good standing in order to open a Card Account or request Cards. Please note that there may be separate fees associated with having an Account from those charged in connection with your Card Account. To help the government fight the funding of terrorism and money laundering activities, US Federal law requires that we obtain, verify, and record information identifying companies and their beneficial owners. Mercury will provide Company Information to us and other third-party service providers to determine your eligibility for a Card Account. We rely on the accuracy of the Company Information you provide us when opening and maintaining your Card Account. We may deny your application, suspend Cards or your Card Account or close your Card Account if your Company Information is out of date, incomplete, or inaccurate. You are responsible for notifying us of any changes to your Company Information. You should notify us as soon as possible if you change your beneficial ownership information. We will periodically review your Card Account and we may ask you for additional Company Information to establish the amounts you can spend using the Card (“Spending Limit”), and for other purposes related to your Card Account. We may also request a credit report on your Company and its principals. You agree to promptly provide us all information we request, and you authorize us to request such credit reports in the event we choose to request them. We may exchange information with business credit reporting agencies or other financial service providers we or Mercury may use when evaluating your eligibility for a Card Account.

Patriot Bank, N.A. IO Charge Card Agreement | Mercury · snapshot-utf8:6814:8614 · Source date: 2026-08-10 · Checked: 2026-10-17

Not a Bank Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC. Not a Bank + Partner Bank / Sweep Network Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group Opens in new tab and Column N.A. Opens in new tab , Members FDIC. FDIC deposit insurance covers the failure of an insured bank. Deposits in checking and savings accounts are FDIC-insured through Choice Financial Group and Column N.A. and their Sweep Program Network Banks. Certain conditions must be satisfied for pass-through FDIC insurance to apply. Learn more here .

Mercury for Personal Disclosures | Mercury · snapshot-utf8:2655:3334 · Checked: 2026-10-17

The geographic context established here is limited to the United States: Mercury Technologies, Inc. discloses an address for service of legal process in San Francisco, California. The OCC decision describes the proposed Mercury Bank, N.A. in Salt Lake City, Utah as a bank still in organization that needs final approval before commencing banking.

An address for legal process does not establish a client office or branch. The OCC-described future main office and online operating plan are not operational banking presence. A complete current country list of Mercury licensed entities, branches and client offices is not established; applicant geography, payment destinations and country restrictions cannot substitute for it.

Published provider terms; individual approval is not guaranteed.

not in the sources

primary source cited, quotation verified on 2026-10-17

Organizing Steps and Pre-Opening Requirements The “Charters” booklet in the Comptroller’s Licensing Manual provides guidance for organizing your bank. The booklet is located at the OCC's web site: Comptroller's Licensing Manual & Forms | OCC. The booklet contains all of the steps you must take to receive final approval. As detailed in the booklet, you may establish the corporate existence of and begin organizing the Bank as soon as you adopt and forward Articles of Association and the Organization Certificate to the Director for Chartering, Organization and Structure in the Washington, D.C. Office for the OCC’s review and acceptance. Once these documents are accepted, the Bank will be deemed a “body corporate.” As a “body corporate” or legal entity, you may begin taking those steps necessary for obtaining final approval. “In Organization” should follow the bank’s name in all official documents, stationery, advertisements, and other references to the bank until it opens for business. The Bank may not begin the business of banking until it fulfills all requirements for a bank in organization and the OCC grants final approval. After reading the instructions for the organization of a new national bank, it is suggested that the spokesperson or other designated representative consult with Director for Chartering, Organization and Structure John J. Hansen to discuss the organization process. The OCC believes that such a meeting can contribute to a more efficient and effective organization process and help avoid common mistakes that have delayed or prevented other banks from opening. See the enclosed Preopening Checklist for a list of requirements that must be met before the bank opens. The Bank must meet the requirements before it is allowed to commence business and the Board of Directors must ensure that the applicable policies and procedures are established and adopted before the Bank begins operation.

OCC Corporate Decision No.1372 — proposed Mercury Bank, N.A. — 24 April 2026 · snapshot-utf8:14227:16182 · Source date: 2026-04-24 · Checked: 2026-10-17

April 24, 2026 Nate Balk Skadden, Arps, Slate, Meagher & Flom LLP One Manhattan West New York, NY 10001 Subject: De Novo Charter Application and Residency Waiver Request Mercury Bank, NA, Salt Lake City, Utah (proposed charter 25404) OCC Control No. 2025-Charter-344332 OCC Control No. 2025-Waiver-344421 Dear Mr. Balk; The Office of the Comptroller of the Currency (OCC) has reviewed your application to establish a new national bank with the title of Mercury Bank, National Association (proposed Bank, or Bank). The OCC hereby grants preliminary conditional approval of your charter application upon determining that your proposal meets certain regulatory and policy requirements. Your request for residency waivers is also approved. This preliminary conditional approval is granted based on a thorough evaluation of all information available to the OCC, including the representations and commitments made in the application and by the Bank’s representatives. The OCC has also made its decision to grant preliminary conditional approval with the understanding that the proposed Bank will apply for stock in a Federal Reserve Bank in accordance with 12 USC 222 1 and will obtain deposit insurance from the Federal Deposit Insurance Corporation (FDIC). The OCC has granted preliminary conditional approval only. Final approval and authorization for the Bank to open will not be granted until all preopening requirements are met. Until final approval is granted, the OCC has the right to modify, suspend or rescind this preliminary conditional approval should the OCC deem any interim development to warrant such action. Proposed Bank The organizing group for Mercury Bank, National Association submitted a de novo charter application to the OCC to establish Mercury Bank, National Association, Salt Lake City, Utah, as a full-service, insured national bank. The Bank would be wholly owned by Mercury Technologies, Inc. (“MTI,” and collectively with its subsidiaries, “Mercury”). As an existing holding company, MTI would serve as the Bank’s sponsoring organization and is applying to the Board of Governors of the Federal Reserve System (“Federal Reserve”) to become a bank holding company and elect to be a financial 1 See also 12 CFR 209.2. holding company. The proposed Bank has filed its application for deposit insurance with the FDIC, which is currently under review. The Bank does not intend to exercise trust powers. The OCC is authorized to charter national banks pursuant to the National Bank Act, 12 USC 21–27. Specifically, 12 USC 27(a) gives the Comptroller the authority to give a national banking association a certificate authorizing the commencement of business. MTI seeks to establish the Bank to expand financial service offerings to its current clients and attract new business and consumer customers. Mercury is an existing financial technology company that offers consumer and small business checking and savings accounts and business charge cards through FDIC-insured bank partners. Mercury also offers secured and unsecured small business loans through its existing state licenses. The Bank anticipates transitioning customers from Mercury bank partners to the Bank and offering loans, deposits, banking services, and customer referral services during the de novo period. The Bank will target two key segments across the deposit and loan offerings: U.S.-based small to medium sized businesses (SMBs) and consumers. The Bank’s main office will be in Salt Lake City, Utah but will have no physical branch presence and will be a fully online bank serving national and global customers.

OCC Corporate Decision No.1372 — proposed Mercury Bank, N.A. — 24 April 2026 · snapshot-utf8:253:3941 · Source date: 2026-04-24 · Checked: 2026-10-17

If a physical address is required to serve Mercury Technologies, Inc. in California, please use the following address: Mercury Technologies, Inc. 2261 Market Street, Suite 86807 San Francisco, CA 94114 To help avoid delays, make sure legal documents are for the correct Mercury entity and state. Keep in mind that documents sent by physical mail may take longer to process.

Mercury Subpoena and Law Enforcement Requests · snapshot-utf8:4295:4672 · Source date: 2025-04-07 · Checked: 2026-10-17