Manage Mercury

How to cancel mercury and recover your funds in singapore

What mercury is and why you might cancel

Mercury is a fintech platform offering digital banking services tailored to startups, small businesses, and personal banking needs across Singapore. You get access to business accounts, payment cards, domestic and international transfers, cheque handling, and workflow integrations - all from a single dashboard. However, if Mercury no longer fits your financial strategy, you need a clear path to cancel transfers, subscriptions, card services, or your entire account. At Stopee, we help you navigate every step with confidence and clarity.

Core services mercury offers

Mercury's main offerings include online transfers (ACH and wire), cheque deposits and handling, payment cards for business and personal use, recurring invoice automation, and subscription management. You can choose from their free tier or upgrade to Mercury Plus or Mercury Pro depending on your invoicing, team size, and automation needs. The platform integrates with your existing accounting workflows, making it convenient - but also meaning you need to coordinate cancellations across multiple linked services.

Why you might want to cancel

You may cancel because you've switched to another bank, no longer need a specific payment card, want to stop a recurring subscription, or prefer to close your account entirely. Whatever your reason, Stopee ensures you understand your rights and complete the process without leaving money behind or facing unexpected charges.

Your consumer rights in singapore

What the law protects

Singapore's Consumer Protection (Fair Trading) Act (CPFTA) protects you from unfair trading practices, including hidden fees and misleading cancellation terms. Financial services are also regulated by the Monetary Authority of Singapore (MAS). While digital banking services do not carry an automatic 14-day cooling-off period like physical goods, Mercury must honour its published cancellation and refund policies. If they refuse to cancel or refund without valid cause, you have grounds to escalate to the MAS Consumer Complaint Centre.

Your specific rights with mercury transfers and payments

If you cancel a transfer within 30 minutes of authorisation and the funds have not been picked up or deposited, you are entitled to a full refund under Mercury's policy - not just as a courtesy, but as a contractual term. For card subscriptions, you have the right to cancel future charges at any time. Merchant refunds (for purchases made with your Mercury card) remain the merchant's responsibility, but Mercury must process them promptly once received. Keep screenshots and transaction IDs; they are your proof if you need to escalate to Stopee or the MAS.

Mercury pricing and plans

What you pay and what you get

Mercury's pricing varies by service tier. Understanding your current plan helps you identify which services you are paying for and which you need to cancel to stop future charges.

Identifying hidden recurring charges

Pro tip: Log into your Mercury dashboard and review your billing history under Settings or Account. Filter by "Charges" or "Subscriptions" to see which services renew automatically. If you spot a plan tier charge you do not use, cancelling it stops the bleeding immediately. Many Singapore users forget to downgrade from Mercury Pro to the free tier and lose hundreds of dollars annually. Check your statement now - Stopee users often recover between SGD 100 and SGD 500 by cancelling unused upgrades.

How to cancel mercury transfers and pending payments

Cancelling a transfer within the 30-minute window

If you authorised a transfer moments ago and realised you made a mistake, you can cancel it immediately - but only if the recipient has not yet collected or deposited the funds. Follow these steps to cancel quickly.

1. Open the Mercury app or web dashboard and log in with your credentials.
   • On mobile, tap the Menu icon (three horizontal lines) and select "Transfers" or "Activity".
   • On web, navigate to the Transfers section from the main navigation bar.
2. Locate the transfer you want to cancel in your transaction history or pending transfers list.
   • Look for transfers showing a "Pending" or "Processing" status.
   • Tap or click on the transfer row to open its details.
3. Select the "Cancel" button (usually displayed in red or as an action option).
   • Mercury will confirm the cancellation eligibility - if the button is greyed out, the funds have already been picked up and cannot be recalled.
4. Review the cancellation summary and tap "Confirm" to finalise.
   • You will receive an in-app notification and email confirmation within seconds.
5. Save the cancellation reference number and screenshot for your records.
   • This proves you cancelled within the allowed window if you need to dispute with Stopee or Mercury support later.

Cancelling transfers outside the 30-minute window

Warning: If your transfer is older than 30 minutes or already shows "Completed", you cannot cancel it through the app. Contact Mercury support immediately with your transfer ID, recipient details, and the reason for your request. They may be able to halt the payment if it has not been deposited, but this is at their discretion and depends on the recipient bank's processing speed. Response times vary from 1 to 24 hours.

Stopping pending cheques and ACH payments

For ACH debits and cheque payments marked "Pending", follow the same steps as above, but be aware that some cheque cancellations require contact with the recipient's bank if the cheque has already been presented. Contact Mercury support immediately and provide the cheque number, amount, and recipient information. Document every interaction - this is critical if you need to escalate to the MAS or raise a dispute with Stopee.

How to cancel mercury card subscriptions and recurring charges

Blocking future charges on a subscription card

If you have a Mercury card linked to recurring subscriptions (streaming services, software, memberships), you can block future charges without closing your card or account. This is not the same as asking the merchant for a refund; it simply prevents your Mercury card from being charged again.

1. Open Mercury and navigate to the "Cards" section from your main menu.
   • On mobile, look for the Cards icon or "My Cards" tab.
   • On web, select "Cards" from the left sidebar.
2. Tap or click on the card linked to the subscription you want to cancel.
   • You may have multiple cards (personal, business, virtual); select the correct one.
3. Scroll down to "Subscriptions" or "Recurring Charges" and locate the service you want to stop.
   • Common examples: Netflix, Spotify, SaaS tools, gym memberships, insurance.
4. Select "Cancel Subscription" or "Block Recurring Charges" next to the service name.
   • Confirm your choice when prompted.
5. You will receive an in-app confirmation. No further charges will appear on that card.
   • Pro tip: Also contact the merchant directly to confirm your subscription is cancelled on their end. Blocking the card stops charges but does not automatically notify the merchant.

What happens after you block a subscription card

The merchant will attempt to charge your Mercury card next billing cycle and receive a "Declined" response. The merchant may try alternative payment methods on file or send you a notification. You should receive your final invoice or cancellation confirmation from the merchant within 7 to 14 days. Warning: If the merchant attempts to charge and your card declines, some merchants may suspend your service before refunding your final month's fee - contact them directly to avoid this.

How to close your entire mercury account

Preparing to fully cancel

Closing your Mercury account is different from cancelling a single transfer or card subscription. It means terminating your entire relationship with Mercury, which includes your business or personal account, all linked cards, and recurring services. Before you proceed, settle any outstanding balances, download your transaction history, and update any critical integrations or vendor payments linked to Mercury.

1. Download all your transaction history and statements from Mercury.
   • Go to Settings > Account > Statements and export to CSV or PDF.
   • Save a local copy for your records and accountant.
2. Cancel all active subscriptions and recurring charges (using the steps above).
   • Do not close the account until there are no pending cancellations.
3. Transfer any remaining balance out of Mercury to your nominated bank account.
   • This must be completed before account closure; Mercury will not return funds after closure.
4. Contact Mercury support via the app or their help channels to request account closure.
   • Email: Use the "Contact Support" button in your Mercury dashboard.
   • State clearly: "I want to close my Mercury account permanently" and provide your account details.
5. Confirm closure details with Mercury support and await their confirmation email.
   • Account closure typically takes 3 to 5 business days.
   • Save the closure confirmation email.

Refund timelines and what to expect

Refunds for cancelled transfers

If you cancel a transfer within 30 minutes and the funds have not been picked up, Mercury processes your refund within 3 business days. The refunded amount is returned to your Mercury account balance, not your external bank account. You can then withdraw it to your bank or use it for future transfers. Pro tip: Check your Mercury balance on day 4; if the refund has not appeared, escalate to Mercury support immediately with your cancellation reference.

Refunds for card subscriptions and merchant refunds

When you block a recurring charge on your Mercury card, you are not automatically entitled to a refund for the current billing period - that is between you and the merchant. However, once the merchant processes a refund (if they grant one), it is credited back to your Mercury card within 7 business days. Warning: Merchant refunds sometimes take longer than 7 days if the merchant processes them slowly. Contact the merchant's support team for a refund status if it has been more than 10 days.

Account closure refunds

If you close your Mercury account and have a credit balance remaining, Stopee recommends withdrawing that balance to your bank before requesting closure. If you forget and Mercury closes your account with funds remaining, contact them immediately. Singapore law requires them to hold your balance, and you can reclaim it - but you must act within a reasonable timeframe.

Common mistakes when cancelling mercury

Cancelling your card does not close your account

Many users cancel a Mercury card thinking it closes their entire account and stops all charges. It does not. Your account remains active, and if you had a paid plan (Mercury Plus or Pro), you are still being charged monthly. Pro tip: After cancelling your card, log in and verify that your account status shows as inactive or downgrade your plan to free. At Stopee, we see this mistake cost users hundreds of dollars in unwanted charges.

Blocking a card subscription does not request a refund

When you block future charges on a Mercury card subscription, the merchant does not know your subscription is cancelled. Many merchants require you to log into their account and formally cancel. If you do not, they may flag your account as unpaid or attempt to collect via other means. Always cancel directly with the merchant after blocking your card at Mercury.

Forgetting to download statements before closure

Once your Mercury account is closed, you lose access to your transaction history within the Mercury app. Download all statements and receipts before you request closure. You need these for tax purposes, accounting records, and dispute evidence.

Not keeping cancellation confirmations

Screenshots and reference numbers are your only proof that you cancelled on time or that your refund was approved. Warning: If a charge appears after you thought you cancelled, Mercury will ask you to prove you cancelled. Keep your confirmations for at least 12 months. Stopee has helped thousands of consumers win disputes simply by presenting dated screenshots.

What happens after you cancel

Your account and data access

If you cancel a single transfer or card subscription, your Mercury account remains fully operational. You can still log in, send transfers, and view your balance. If you request full account closure, Mercury disables your login within 3 to 5 business days, and you lose access to your transaction history and settings. Ensure you have downloaded everything you need before closure is finalised.

Receiving your final confirmation

Mercury sends confirmation emails for every cancellation, refund, or account closure. Check your email (including spam or promotions folders) for these messages. Each confirmation includes a reference number, date, and details of what was cancelled. File these in a dedicated folder for your records. If you do not receive a confirmation within 24 hours of cancelling, contact Mercury support again - sometimes confirmations get delayed or misdirected.

Verifying charges have stopped

After cancelling, monitor your bank statement and Mercury account for 30 days to ensure no surprise charges appear. If a charge appears after cancellation, gather your confirmation email and reference number, then contact Mercury support with proof of your cancellation. Pro tip: Stopee recommends setting a phone reminder for day 30 to check that all charges have truly ceased.

Cancellation checklist

Key takeaways and next steps

You have control and legal protection

Cancelling Mercury transfers, cards, or your entire account is straightforward when you follow the right steps. You are protected by Singapore's Consumer Protection (Fair Trading) Act and Mercury's own published policies. If you cancel a transfer within 30 minutes, you are entitled to a refund. If you cancel a subscription, future charges stop. If Mercury refuses to honour a cancellation or refund, you can escalate to the Monetary Authority of Singapore's Consumer Complaint Centre.

Act now and stay organised

Do not delay cancellation decisions. The sooner you cancel, the sooner your charges stop. Download your statements today, block unwanted subscriptions this week, and monitor your account for the next 30 days. Stopee has helped thousands of consumers cancel Mercury accounts and recover lost money - and we want the same outcome for you. If Mercury refuses to cooperate or you encounter unexpected charges after cancellation, Stopee is here to guide you through escalation and dispute resolution.