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Forward-thinking solutionsCompare Checking Accounts

Discover the perfect checking account tailored to your financial needs! From low fees to exclusive perks, explore our comprehensive comparison of features and functionality to make an informed choice and find the ideal fit for your business.

Innovator CheckingAccelerator CheckingForward Checking
Minimum opening deposit$100$100
Best account forSmall businesses
Mid-size companies		Early stage startups
VC/PE portfolio companies		Large commercial entities
VC/PE firms & funds
Relationship structure2 entities or less2 entities or less3 or more entities
Number of signers4 or less4 or less5 or more
Account Features
Annual percentage yieldUp to 2.25% APY1
Earn up to 3.75% APY on balances $25,000 or more with an Innovator Money Market Savings Account.5
Up to 2.25% APY1
Earn up to 4.00% APY on balances $50,000 or more with an Accelerator Money Market Savings Account.6
Cash backUnlimited 1%2Unlimited 1%2
TransactionsUnlimitedUnlimitedUnlimited
Account transfersUnlimitedUnlimitedUnlimited
Visa© rewards debit cardIncludedIncludedIncluded
ATM withdrawalsFee-freeFee-freeFee-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.
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 million3Up to $125 million3
Online & Mobile Banking
Virtual debit cards
Team-based card management
Book transfers
External transfers
ACH transfers
Wire transfers
Mobile check deposit
Bill pay
Tools & Integrations
Plaid integration
Xero integration
Autobooks integration
Quickbooks Online integration
MX Business Financial Management
Service Fees
Online & Mobile Banking$0$0$50 per month
$25 per account (1-10)
$5 per account (11+)
ACH transfers$0$0$40 per month
Wire transfers$0$0$30 per month
Bill pay$0$0$5 per month
Book transfers$0$0$0
External transfers$0$0$0
Payment Fees
Monthly fee$0$0$5 per month
Standard ACH$0$0$0.15 each
Same-day ACH$0$0$1.00 each
Incoming domestic wires$0$0$10 each
Outgoing domestic wires$10 each$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.
$12 each
Incoming international wires$5 each$5 each$10 each
Outgoing international wires$25 each$25 each$25 each
Additional Perks
Grasshopper Connect
Marketplace
Money Market Savings Account
Analysis billing
Positive Pay
Remote deposit scanner services
Advanced treasury management
Money Market Savings Account
Annual Percentage Yield3.75% APY54.00% APY6Up to 2.53% APY7
Minimum balance to earn interest$25,000 or more$50,000 or more$0.01
Account transfersUnlimitedUnlimitedUnlimited
FDIC InsuranceUp to $250,000Up to $250,000Up to $250,000
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© 2024 Grasshopper Bank, N.A. | Member FDIC. Equal Housing Lender | All rights reserved

1. Annual Percentage Yield (APY) is accurate as of 2/16/2024. The minimum amount to open an account is $100.00. Rate tiers are as follows: 1.51% APY applies to balances of $0.01—$24,999.99. 2.25% APY applies to balances of $25,000-$250,000.00. 1.51 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 0.08% 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. If a monthly average balance of greater than or equal to $25,000 is met in the Accelerator Checking account, wires charged in the month the balance requirement is met will
be rebated in the following month.

5. Innovator Money Market Savings Annual Percentage Yield (APY) is accurate as of 2/16/2024. The minimum amount to open an account is $100.00. Rate tiers are as follows: 0% APY applies to balances of $0.01—$24,999.99.  3.75% APY applies to balances of $25,000 and up. Innovator Business Checking is required to open an Innovator Money Market Savings account. Offer is valid for new and existing clients. Rates may change after the account is opened. Fees may reduce earnings.

6. Accelerator Money Market Savings Annual Percentage Yield (APY) is accurate as of 2/16/2024. The minimum amount to open an account is $100.00. Rate tiers are as follows: 0% APY applies to balances of $0.01—$24,999.99.  4.00% APY applies to balances of $50,000 and up. Accelerator Checking is required to open an Accelerator Money Market Savings account. Offer is valid for new and existing clients. Rates may change after the account is opened. Fees may reduce earnings.

7. Money Market Savings Annual Percentage Yield (APY) is accurate as of 2/16/2024. The minimum amount to open an account is $100.00. Rate tiers are as follows: 2.02% APY applies to balances of $0.01—$99,999.99.  2.27% APY applies to balances of $100,000.00 – $499,999.99. 2.53% APY applies to balances of $500,000.00 and above. 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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