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Happy National Small Business Month! To the ones who took the leap—and keep going—this month is for you.

Award-winning digital solutionsAccelerator Product Suite

Founders thrive with streamlined banking and powerful digital tools. From low fees to exclusive perks, explore our features and functionality to see how Grasshopper can help you save time, gain a competitive edge, and scale your startup faster.

Accelerator CheckingAccelerator Savings
Minimum opening deposit$100$100
Best account forEarly stage startups
VC/PE portfolio companies		Early stage startups
VC/PE portfolio companies
Relationship structure2 entities or less2 entities or less
Number of signers4 or less4 or less
Account Features
Annual percentage yieldUp to 1.35% APY1
Earn 3.00% APY on balances of $25,000 or more with an Accelerator Money Market Savings Account.5
Up to 3.00% APY 4
1.55% APY on balances $0.01-$24,999.99. 3.00% APY on balances $25,000 and above.
Cash backUnlimited 1%2
TransactionsUnlimitedUnlimited
Account transfersUnlimitedUnlimited
Visa© debit cardIncluded
ATM withdrawalsFee-free
FDIC insuranceUp to $250,000
The current legal limit for FDIC insurance coverage is $250,000 per depositor, per insured bank, for each account ownership category.
Up to $250,000
The current legal limit for FDIC insurance coverage is $250,000 per depositor, per insured bank, for each account ownership category.
Enhanced FDIC insuranceUp to $125 million3Up to $125 million3
Online & Mobile Banking
Virtual debit cards
Team-based card management
Internal transfers
External transfers
ACH transfers
Wire transfers
Mobile check deposit
Bill pay
Integrations
Chat GPT
Claude
Plaid
Xero
Autobooks
Quickbooks Online
MX Business Financial Management
Payment Fees
Monthly fee$0$0
Internal transfer$0$0
External transfer$0$0
Standard ACH$0$0
Same-day ACH$0$0
Incoming domestic wires$0$0
Outgoing domestic wires$10 each
If a monthly average balance of greater than or equal to $25,000 is met, wires charged in the month the balance requirement is met will be rebated in the following month.
$10 each
If a monthly average balance of greater than or equal to $25,000 is met, wires charged in the month the balance requirement is met will be rebated in the following month.
Incoming international wires$5 each$5 each
Outgoing international wires$25 each$25 each
Additional Perks
Grasshopper Connect
Marketplace
Open an account Open an account

An experience that speaks for itself

Average Rating: 4.45
Total Reviews: 434

  • The bank is exceptional

    The bank is exceptional. They have great customer service, an easy to navigate online dashboard, and great benefits & incentives. Overall, I recommend to all my clients who are in the startup to small business phase of their journey.

    — Moose

  • Reliable banking system

    Very easy going and reliable banking system. If you ever have a doubt just call them up and they will always answer willing to assist. I am super happy with this bank.

    — Peter D.

  • App is straightforward

    App is pretty straightforward and easy to navigate. It is definitely worth looking into for a free business account that earns interest on balances.

    — Thomas H.

  • Collection of features

    Grasshopper offers a collection of features that not many other banks do. Automated bookkeeping through Autobooks integration, high-yield checking account, great customer service, invoicing, and lending options such as SBA.

    — Elisha

  • Great for business

    I didn't want to pay a lot of money for incoming wires, outgoing wires and ACH transfers. Love that there isn't a cost for incoming wires or ACH transfers. Also love the dual approval feature! I can also add team members to have view access too.

    — Fernando

Award-Winning Digital Banking Solutions

Banking Tech of the Year

US FinTech Awards 2025

Best Use of Tech in Business Banking

Banking Tech Awards USA 2025

Best Use of Tech in Business Banking

Banking Tech Awards USA 2024

Best Risk Implementation

IBSi Global Fintech Innovation Awards 2024

Innovation in Integration

Narmi Innovation Awards 2024

Best Use of Tech in Banking

Banking Tech Awards USA 2023

Frequently Asked Questions

  • Treasury accounts are only available to Grasshopper clients, you must meet the following eligibilty requirements:

    • Have an active Accelerator Checking account in good standing
    • Maintain a minimum combined balance of $250,000 across eligible Grasshopper deposit accounts, including Accelerator Checking and Accelerator Savings.

    Once you meet the requirements, you can apply to open a Treasury account directly through your online banking dashboard.

    For more information, visit our Treasury page.

  • Yes! The minimum opening deposit for Accelerator Checking and Accelerator Savings is $100.

  • Yes. You can transfer funds quickly between accounts, giving you the flexibility to manage cash flow in real time without friction or delays.

  • At Grasshopper we use the daily balance method to calculate interest on our deposit accounts. This method applies a daily periodic rate to the principal available in your account each day.

    Please note: When calculating interest, we use the collected balance, which means we only include funds that we have actually received payment for.

    For more information about rates, refer to our rate sheet.

  • There is no cap on total interest earned, so your returns continue to grow as your balance increases.

    For more information about rates, refer to our rate sheet.

  • There are no monthly maintenance fees, and many everyday transactions are free, helping you keep more of your capital working in your business.

    For more information, refer to our Accelerator Checking and Accelerator Savings fee schedules.

  • The cutoff times displayed below are times that transactions need to be submitted by in order to guarantee same day processing. While we always do our best to adhere to the cutoff times stated below, transactions flagged for additional review may take up to 3 business days to process.

    ACH (SMB/Startup): 4:30PM ET

    ACH (Commercial): 5:30PM ET

    Positive Pay ACH (Commercial): 3:00PM ET

    Positive Pay Check (Commercial): 6:00AM-11:00AM ET

    Bill Pay: 4:30PM ET

    Internal Transfers: 5:00PM ET

    Loan Advances: 3:00PM ET

    Loan Payments: 3:00PM ET

    Mobile Deposit: 4:00PM ET

    Remote Deposit Capture: 5:00PM ET

    Domestic USD Wires: 4:30PM ET

    International USD Wires: 4:30PM ET

    Foreign Currency (FX) Wires: 2:30PM ET

     

    All wires submitted via DocuSign will also be subject to a 2:30PM ET cutoff time.

     

    Incoming Wires

    All incoming wires will be posted until 5:30 pm ET.

     

    Exception Wire Processing

    We understand that sometimes things are beyond your control, so an exception process remains in place for time sensitive wires, which requires notification to Client Services prior to the cutoff times. All wires submitted after the cutoff times will be considered an exception wire and will be released on a best effort basis. If Client Services does not a receive notification, the wire will be processed on the following business day. To guarantee same day wire processing, please follow the guidelines stated above.

     

    Large Wire Processing

    For wires exceeding $10 million, a notification must be sent to Client Services by 3:00PM ET to guarantee same day processing.

     

    External Transfers

    Once an external transfer is submitted, the process can take an estimated 1-3 business days to be credited to the receiving institution. If further information is required to process your transfer, we may reach out for additional verification.

     

  • Grasshopper Bank is a member of the FDIC, which means your deposits are insured up to $250,000.

    Our sound banking practices along with enhanced security features, such as dual control and multi-factor authentication, also help to ensure your account is secure.

Join thousands of businesses growing with Grasshopper

Open an account in as little as 5 minutes.

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© 2026 Grasshopper Bank, N.A. | Member FDIC. Equal Housing Lender | All rights reserved

1. Annual Percentage Yield (APY) is accurate as of 11/03/2025. The minimum amount to open an account is $100.00. Rate tiers are as follows: 1.00% APY applies to balances of $0.01—$24,999.99. 1.35% APY applies to balances of $25,000-$250,000.00. 1.00 APY applies to balances of $250,000.01 and above. Rates may change after the account is opened. Fees may reduce earnings. National average interest rate for interest checking is 0.07% APY – source: www.fdic.gov.

2. Cash Back rewards offer 1.00% cash-back on all Qualified Purchases made by eligible Innovator Business Checking account holders. To qualify for the Cash Back reward of 1.00% cash-back in an Innovator Business Checking account, account holders must meet all requirements and a transaction must be deemed as a Qualified Purchase. Clients are required to maintain an average balance of $10,000 or more within the calendar month in their Innovator Business Checking account and the account must remain open, active, and in good standing to participate in the program, meaning: No NSF (non-sufficient funds) items during the preceding twelve calendar months. Grasshopper Bank reserves the right to modify the description of “good standing” at any time.

Qualified Purchases are signature-based purchases made with a Debit Card from an Innovator Business Checking Account. To make a signature-based purchase, select “credit” rather than debit at point-of-sale kiosks. The “credit” option is most often pre-selected when making purchases online using a debit card. Online subscription payments may not be considered signature-based purchases. The payment transaction type (signature-based or other) is ultimately decided by the merchant and how the transaction is transmitted to Grasshopper Bank at the time of processing. We reserve the right to determine if a transaction was a Qualified Purchase, and to establish additional types of Qualified Purchases that could be made available in a variety of ways. Any goods or services purchased with the Debit Card issued by Grasshopper Bank that are returned or otherwise credited to the account are not qualified purchases. Unlawful purchases and purchases of currency, cash or cash equivalents (including, without limitation, currency from the U.S. Mint, Travelers Cheques, gift cards, Cryptocurrency, Casino Chips, Peer to Peer Payments, prepaid debit cards, account openings, loan payments, or other cash equivalents) made with a Debit Card issued by Grasshopper Bank are not Qualified Purchases. We may require documentation to validate that certain purchases are Qualified Purchases. If you or the Bank closes the account for any reason before the end of the statement cycle, you will forfeit all rewards accrued through your linked Debit Card during that statement cycle.

Important Tax Information
The value of this reward may constitute taxable income and may be reported to the Internal Revenue Service as miscellaneous income to the first signer on the account, in the year received, as required by applicable law. Offer is limited to clients who are citizens of the United States that furnish or have a valid Form W-9 on file and the account must not be subject to backup withholding.You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) to you that reflects the value of such reward. Please consult your tax adviser, as Grasshopper Bank does not provide tax advice.

3. By opening an Innovator Business Checking or Accelerator Checking account you have access to Grasshopper’s ICS Deposit product. If you choose to open a ICS Deposit account through Grasshopper Bank N.A. you deposit your funds into a deposit account at Grasshopper bank which sweeps those funds into deposit accounts across a network of FDIC-insured banks, for up to the current SMDIA of $250,000 per eligible depositor, per destination institution, for each ownership capacity or category, subject to applicable terms and conditions of Grasshopper’s ICS Deposit Placement Agreement. A sweep network is a secure network of partner banks that allows us to strategically distribute your ICS Deposit balances. This way, your funds are held by multiple trusted, FDIC-insured banks within the network, and you can manage your finances more confidently, knowing that your deposits are protected up to $125 million instead of the standard limit of $250,000, subject to change at any time by Grasshopper. Terms and restrictions apply. Subject to applicable rate sheet. Interest rates and yields are effective as per the date on the rate sheet and are subject to change without notice. See applicable rate sheets. See our Account Agreements and other applicable terms. Grasshopper Bank, N.A. uses a third-party vendor and agent to help administer this sweep process.

4. Annual Percentage Yield (APY) is accurate as of 01/05/2026. The minimum amount to open an account is $100.00. Rate tiers are as follows: 1.55% APY applies to balances of $0.01—$24,999.99. 3.00% APY applies to balances of $25,000 and up. Rates may change after the account is opened. Fees may reduce earnings.

Grasshopper Bank reserves the right to modify or discontinue this program for any reason without notice, except as otherwise expressly indicated.

For full terms and conditions about our products and services, please refer to the Master Service Agreement.

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