Grasshopper Small Business Checking carries no monthly fee and requires a $100 minimum opening deposit. Transactions are unlimited and free — no per-item charge for ACH, debit card purchases, or same-day ACH. External transfers run over the FedNow payment rail and are available at 0.65% of the transfer amount ($1 min, $10 max). The account is interest-bearing: balances earn 1.00% APY on $0–$24,999 and 1.30% APY on $25,000–$250,000. Accepted entities include LLCs, S-Corps, C-Corps, sole proprietors, and partnerships, with no minimum time in business or revenue requirement. Deposits are FDIC-insured up to $250,000 per depositor through Grasshopper Bancorp, Inc. (FDIC Member), with extended coverage up to $125,000,000 available via partner bank networks. Available in all 50 U.S. states. Note: no cash deposits accepted. Best suited for digital-first businesses seeking zero-fee checking with yield on operating balances.
Last verified: July 24, 2026 · Source
Grasshopper Bancorp, Inc. · FDIC Member · NeobankVerified
| Monthly Fee | No monthly fee |
| Free Transactions | Unlimited — no per-transaction fee |
| Opening Deposit | $100 |
| Interest Bearing | Yes — 1.00% APY ($0–$24,999) · 1.30% APY ($25K–$250K) · 1.00% APY ($250K+) |
| Cash Back | 1% unlimited on online & signature-based debit purchases |
| Entity Types | LLC, S-Corp, C-Corp, Sole Proprietorship, Partnership |
| Insurance | FDIC — up to $250,000/depositorExtended up to $125,000,000 via partner banks |
| Availability | All 50 U.S. states |
| Cash Deposits | Not available — fully digital account |
| Check Writing | Yes |
| Remote Deposit | Yes — mobile check deposit |
| ATM Network | MoneyPass + SUM |
| Multicurrency | Yes |
| Same-Day ACH | Yes — complimentary |
| FedNow | Yes — external transfers complimentary via FedNow; instant transfers 0.65% of transfer amount ($1 min, $10 max) |
| Positive Pay | No |
| ACH Debit Block | No |
| Overdraft Protection | Yes |
| Overdraft Line of Credit | No |
| Corporate Card | Yes |
| Virtual Cards | Yes |
| Outgoing Domestic Wire | $10 per wire |
| Incoming Domestic Wire | Free |
| Outgoing International Wire | $25 per wire |
| Integrations | Plaid, QuickBooks, Autobooks |
| Last Verified | July 24, 2026 |
All fees as reported by Grasshopper Bancorp, Inc.
A freelance designer, developer, or consultant operating as a sole prop or single-member LLC with 30–100 monthly transactions — all electronic: ACH payroll, Stripe or PayPal payouts, QuickBooks-reconciled vendor payments — is the natural fit for Grasshopper Small Business Checking. The $0 monthly fee eliminates the most common overhead for early-stage businesses with variable revenue, and the 1% unlimited cash back on online and signature debit purchases effectively monetizes everyday operating spend. The account earns 1.00% APY on balances up to $24,999 and 1.30% APY on $25,000–$250,000 — a meaningful yield layer on retained cash that a non-interest-bearing account would forfeit entirely.
An early-stage LLC or C-Corp in SaaS, professional services, or e-commerce that banks entirely digitally, pays vendors via ACH, and needs free same-day settlement for contractor payments finds Grasshopper uniquely cost-efficient. Free integrations with Plaid, QuickBooks, and Autobooks reduce CFO tooling costs; the Grasshopper Marketplace provides additional partner connectivity. Multicurrency support and international wire capability ($25 outgoing, $5 incoming) handle cross-border vendors and clients. The extended FDIC insurance of up to $125,000,000 per depositor via partner bank networks provides meaningful capital protection for businesses holding large cash positions — a feature rarely available at this price tier.
A partnership or S-Corp in a growth phase — a two-to-four-person agency, consulting firm, or service business — seeking yield on operating reserves without banking overhead will find Grasshopper particularly compelling. The tiered APY (1.00% under $25K, 1.30% on $25K–$250K) combined with no monthly maintenance fee means every dollar retained earns interest rather than covering banking costs. Virtual card issuance supports per-project or per-employee spending controls, and corporate card access scales with headcount. The critical limitation: Grasshopper accepts no cash deposits — any business with physical cash revenue (retail, events, tips) must bank elsewhere or maintain a hybrid account structure.
Grasshopper Small Business Checking is a full-featured digital business account built for businesses that operate entirely online. Backed by Grasshopper Bancorp, Inc. — an FDIC Member institution — deposits are protected up to $250,000 per depositor per ownership category under the Federal Deposit Insurance Act, with extended coverage of up to $125,000,000available through Grasshopper's network of partner FDIC-member banks — a substantial capital protection layer for businesses with large cash positions.
Standard and same-day ACH credit and debit transfers are complimentary. External transfers run over the FedNow payment rail at no charge, providing real-time interbank settlement for businesses that need it without paying a premium. Instant transfers — a faster, on-demand FedNow tier — are available at 0.65% of the transfer amount, with a $1 minimum and $10 maximum per transfer. Wire capability covers both domestic and international channels: outgoing domestic wires are $10 each; incoming domestic wires are free; outgoing international wires are $25 each; incoming international wires are $5 each.
Grasshopper Small Business Checking carries no monthly maintenance fee and no per-transaction fees, making it a genuinely zero-overhead account for businesses with entirely digital workflows. The primary fees are wire-related and incidental: a $5/month dormancy fee applies only when no customer-initiated activity occurs for an entire month. Returned items — ACH debits/credits and deposited checks — cost $10 each; international wire returns cost $5. Stop payments are $25. Card replacement carries a $5 standard or $35 expedited fee. Grasshopper charges no foreign transaction fee, though Visa may assess a currency conversion charge on non-USD purchases.
Grasshopper provides free integrations with Plaid, QuickBooks, and Autobooks. Plaid enables connectivity to fintech apps and additional accounting platforms beyond the native integrations. QuickBooks direct bank feed eliminates manual transaction reconciliation. Autobooks adds invoicing, payment acceptance, and bookkeeping natively within the Grasshopper banking interface. The Grasshopper Marketplace extends this with additional partner tools and perks for business operators.
Grasshopper includes free physical Visa debit cards that earn 1% unlimited cash back on online and signature-based purchases — an uncommon feature at the $0-monthly-fee tier. Instant-issue virtual cards are available for immediate online purchases and per-employee spending controls. A corporate card option supports larger organizations. The account participates in the MoneyPass ATM network with no ATM fee reimbursement for out-of-network withdrawals. Cash deposits are not accepted — the account is fully digital with no branch access, which is the primary constraint for businesses handling any physical cash revenue.
Yes. Grasshopper Bancorp, Inc. is an FDIC Member institution. Deposits are insured up to $250,000 per depositor per ownership category under the Federal Deposit Insurance Act. Extended FDIC coverage of up to $125,000,000 is available through Grasshopper's network of FDIC-member partner banks.
There is no monthly fee. Grasshopper Small Business Checking has a $0 monthly maintenance fee with no minimum balance requirement to waive it.
Yes. Grasshopper Small Business Checking supports the FedNow payment rail. External transfers are conducted via FedNow at no charge. Instant transfers — also via FedNow — are available for a fee of 0.65% of the transfer amount ($1 minimum, $10 maximum) for real-time settlement needs.
The account is available to LLCs, S-Corps, C-Corps, sole proprietors, and partnerships. There is no minimum time in business requirement and no minimum annual revenue requirement. The business must be U.S.-based.
Unlimited. There is no monthly transaction limit and no per-transaction fee. ACH credits and debits, same-day ACH, internal and external transfers, and debit card transactions are all included at no charge.
Yes. Grasshopper Small Business Checking is an interest-bearing account. Balances earn 1.00% APY on $0–$24,999, 1.30% APY on $25,000–$250,000, and 1.00% APY on amounts above $250,000. Rates are variable; as of June 29, 2026, the maximum APY is 1.30%. Most business checking accounts do not earn any interest — this is a meaningful differentiator for businesses holding operating reserves.
Yes. QuickBooks integration is included at no additional cost. Free integrations with Plaid and Autobooks are also available, along with additional partner integrations through the Grasshopper Marketplace.
No. Grasshopper Small Business Checking does not accept cash deposits. This is a fully digital account with no branch network. Businesses that regularly handle physical cash — retail, restaurants, event-based operations — should use a traditional bank with branch access alongside or instead of this account.
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