That's what comments in the other post said, but I don't know if there's new info in the last 3 years.

Looking at their site, the features sound good (though I'm not thrilled about Plaid integration, TBH). They aren't a real bank, though, from their own site:

> Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.

The page that links to, https://mercury.com/how-mercury-works, seems to suggest that by using "sweep networks", their clients are able to get even better than normal FDIC protection. Their FAQ also says "Mercury checking and savings deposits are FDIC-insured up to $1M. As a broader effort, we are working on expanding all coverage up to $4M. You can learn more about FDIC insurance through their own FAQ here."

The marketing copy sounds good, but I'm curious to know what others think about these claims.