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Earn a $500 Savings Boost

Get rewarded for smart financial habits! Enroll and maintain a $25,000 monthly average balance in your Accelerator Savings Account—or open one today—to start earning.2

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Each month, two eligible clients will be selected to receive a $500 savings boost to their Savings account—our way of celebrating and rewarding your commitment to smart financial habits.

Savings Boost ProgramWhy Participate?

Participating is more than just a chance to win—it’s an opportunity to make your savings work harder for you. With exclusive rewards and competitive APY rates, growing your funds has never been easier.

  • Earn Rewards for Saving

    Each month, two eligible participants will be selected to receive a $500 savings boost—our way of celebrating and rewarding your commitment to smart financial habits.2

  • Maximize Your Savings Potential

    Take advantage of our competitive APYs to grow your savings faster and earn more than 8x the national average savings rate with up to 3.55% APY. 1

  • It’s Easy & Hassle Free

    Enroll once, and maintain a $25,000 average monthly balance, and you’ll automatically be eligible for every monthly drawing throughout the year.

How to Qualify

All Accelerator Savings account holders who follow the steps below are able to qualify for the $500 bonus. Don't have an account? Open one today.

  1. Enroll to Participate
    Sign up using the form below to join the Savings Boost program.
  2. Meet the Monthly Balance Requirement
    Maintain an average monthly balance of $25,000 or more in your Accelerator Savings Account.
  3. Sit back and relax
    The drawing closes on the last day of each month, and two lucky winners will be selected on the first day of the following month.

Enroll in the Savings Boost Program

Sign up to be eligible for each monthly drawing throughout the year.

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Consent*

Savings that grow with your business

  • Unlimited Earning Potential

    Turn your idle cash into a powerful growth tool with a competitive 3.55% APY on balances of $25,000 or more.1

  • Unrestricted Access

    Enjoy unrestricted access to your funds with unlimited fee-free transactions, allowing you to move money whenever and however your business requires.

  • FDIC Insurance

    Scale your startup with confidence, knowing your deposits are FDIC-insured up to $250,000. Want even more security? Access enhanced FDIC insurance up to $125 million.

Level up your savings today!

Open an account in as little as 5 minutes.

Apply Now

Frequently Asked Questions

  • If your average monthly balance falls below $25,000, you will not qualify for that month’s drawing. However, you can try again next month.

  • The average monthly balance requirement applies to each individual account separately.

  • Two winners are chosen at random on the first day of the following month using a random generator tool. Winners will be announced via email to all participating clients.

  • No, each client can win only once per calendar year.

  • Winners are announced on the first day of the following month.

  • You can monitor your account balance and activity through Grasshopper Bank’s online banking platform or mobile app.

  • The $500 prize will be credited directly to your eligible savings account as a line item in your balance.

  • Yes, funds transferred internally between Grasshopper accounts qualify. 

  • Yes, you can enroll one Savings account per business. If you have multiple businesses, with Savings accounts at Grasshopper, one for each business will be eligible. However, you can only win once per calendar year.

  • Enrollment ensures that you consent to participate in the campaign and agree to its terms. It also allows us to include you in the monthly drawings.

© 2025 Grasshopper Bank, N.A. | Member FDIC. Equal Housing Lender | All rights reserved

1. Annual Percentage Yield (APY) is accurate as of 1/2/2025. 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. 1.80% APY applies to balances of $25,000-$250,000. 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

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.

2. Accelerator Money Market Savings Annual Percentage Yield (APY) is accurate as of 1/2/25. The minimum amount to open an account is $100.00. Rate tiers are as follows: 1.80% APY applies to balances of $0.01—$24,999.99. 3.55% APY applies to balances of $25,000 and up. Rates may change after the account is opened. Fees may reduce earnings.

3. By opening an  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. 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.

 

2. Savings Boost Terms & Conditions

Eligible Participants: The campaign is open to new and existing Grasshopper Bank clients. To qualify, participants must complete the following (see specific requirements for new clients vs existing clients):

New clients: 

  1. Open an Innovator or Accelerator MMA Savings Account. If the client already has an account, then you do not need to open another account. 
  2. Fund the account. 
  3. Enroll in the campaign by completing the designated enrollment form.
  4. Maintain  a minimum average monthly balance of $25,000 in their Innovator or Accelerator MMA account during the campaign month.

Existing clients: 

  1. Enroll in the campaign by completing the designated enrollment form. 
  2. Maintain a minimum average monthly balance of $25,000 in their  Innovator or Accelerator MMA account during the campaign month.

Good Standing: Participants must be in good standing with Grasshopper Bank, defined as: No NSF (non-sufficient funds) items during the preceding twelve calendar months. Compliance with all Grasshopper Bank terms and policies. Grasshopper Bank reserves the right to modify the definition of “good standing” at any time.

Campaign Rules

Campaign Period:

The campaign runs monthly, starting on the first day and concluding on the last day of each month. Winners will be selected and announced on the first day of the subsequent month. The campaign period spans from February 2025 through December 2025.

Enrollment:

Enrollment is required to participate in the campaign. By enrolling, participants attest to these Terms & Conditions. Participants consent to the use of their name in winner announcements and promotional materials.

Prize Details:

Two winners will be randomly selected each month to receive a $500 savings boost deposited directly into their qualifying Grasshopper Bank MMA account. Each client or business may win only once per calendar year. Once a winner, participants are excluded from future drawings for the remainder of the year.

Prize Payout:

The $500 savings boost will be deposited as a line item in the winner’s Savings account balance at the beginning of the following month. Prize winnings are considered taxable income, and winners are responsible for any applicable taxes. Grasshopper Bank may issue a 1099-MISC form as required by law.

Winner Selection

Winners will be selected via a random generator process. Grasshopper Bank will notify winners directly and announce their names publicly, unless prohibited by law. In the event of an ineligible winner, Grasshopper Bank reserves the right to select an alternate winner.

General Conditions

Grasshopper Bank reserves the right to terminate or modify the campaign at any time without prior notice. Funds used to meet the average balance requirement must not originate from internal transfers between savings accounts. Grasshopper Bank is not responsible for enrollment errors, technical issues, or delays that may impact participation.

Consent and Publicity Release

By enrolling in the campaign, participants agree to the use of their name and likeness in winner announcements and promotional materials.

Disclaimers

Grasshopper Bank reserves the right to disqualify any participant who violates these Terms & Conditions. The campaign is void where prohibited by law.

 

 

 

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