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NEW YORK, NY – October 3, 2023 – Grasshopper, the client-first digital bank built for the business and innovation economy, today announced the launch of Accelerator Checking, a feature-packed operating account and partnership ecosystem designed to serve a wide range of startups. Accelerator Checking further drives Grasshopper’s mission of supporting the innovation economy, of which venture-backed companies play an essential role. 

With this latest offering, Grasshopper has provided a modern operating account, streamlined cash management tools, and access to essential business solutions that helps clients manage their day-to-day needs. The product also empowers startups with an alternative solution through an FDIC-insured bank. 

“As a digital bank who has been serving the venture community since our founding, we are uniquely positioned to provide startups with an excellent banking experience,” said Mike Butler, CEO of Grasshopper. “Our offering responds to the evolving needs of the innovation economy brought on by recent events in the industry by further strengthening our commitment to this client base. We believe that this new platform will resonate with the startup community and look forward to welcoming many new clients to Grasshopper in the coming months.”

Key features of Accelerator Checking include:

  • A modern operating account, which can be opened digitally in as little as five minutes from any device 
  • Free physical and virtual Visa® rewards debit cards, earning unlimited 1% cash back on online and signature-based purchases
  • Free bill pay, check deposit services and digital invoicing tools
  • Free domestic ACH and wire transfers when a balance greater than or equal to $25,000 is maintained
  • International USD and foreign exchange (FX) wire transfers also available
  • Autobooks, QuickBooks and Plaid integrations with additional financial data management tools available 
  • Access to multi-million dollar FDIC insurance without the hassle of multiple bank relationships 
  • Earn up to 4.00% APY on balances greater than $50,000 when bundled with an Accelerator Savings Account
  • Personalized support from a US-based Client Services team available by phone, email, chat and secure message
  • Plus, no minimum balance requirements or monthly service fees

“With Accelerator Checking, we saw a powerful way to respond to market demands and further our relationship with this community and share what we have built over the past couple of years with features specifically geared toward startup companies,” said Luther Liang, Director of Product at Grasshopper. “Accelerator Checking offers startups a solution that will support their day-to-day transactional needs and the overall financial life cycle of their business with tools including digital card functionality, top notch security, self-service user management capabilities, and frictionless digital account opening, all in a clean and easy to use online format.” 

Grasshopper firmly believes in a partnership approach to helping its clients achieve their goals. In addition to the Accelerator Checking account and the digital tools the Bank provides directly, clients will also have exclusive access to a curated community of partners through its newly established marketplace and investor network. A sampling of these additional benefits include:

  • Ramp corporate cards
  • Non-dilutive growth financing
  • Cloud-based communication services    
  • Fundraising support via connections to select venture capital and private equity firms
  • APIs to embed finance functionality into their own platforms
  • Special discounts on startup business insurance   

Since its launch in Q2 2022, Grasshopper’s Innovator Business Checking product, designed for small and medium-sized businesses (SMBs) across the country, has received more than 35,000 digital applications and was recently recognized for “Best Use of Tech” at the Banking Tech Awards USA in June 2023. Grasshopper was also the first financial institution to tap into FIS’ embedded finance services and, along with its API partner Treasury Prime, served as the pilot bank in building out its Banking-as-a-Service (BaaS) and Corporate API Banking platform, bringing its first BaaS client live in April 2022. 

Accelerator Checking complements and expands on Grasshopper’s existing startup offerings, as its API-powered BaaS platform has been providing fintech clients with access to leading digital products for instant account opening, personalized digital invoices, debit card requests, cash flow management, balance monitoring, and more.  

To learn more about Accelerator Checking, visit

About Grasshopper Bank

With total assets of approximately $720 million, Grasshopper is a client-first digital bank serving the business and innovation economy. Grasshopper replaces the traditional one-size-fits-all approach to banking with a suite of products and services tailored to specific industries, and a passionate team of experts with deep expertise in their fields. Grasshopper’s banking solutions cover small business, venture-backed companies, fintech-focused Banking-as-a-Service (BaaS) and commercial API banking platforms, SBA lending, commercial real estate lending, and yacht financing. Headquartered in New York City, the bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For more information, visit the bank’s website at or follow on LinkedIn and Twitter.

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