# Small Business Checking — Grasshopper Bancorp, Inc.

**Monthly Fee:** No monthly fee
**Free Transactions:** Unlimited — no per-transaction fee (ACH, same-day ACH, debit card, and FedNow external transfers all included at no charge)
**FedNow:** Yes — external transfers via FedNow (complimentary); instant FedNow transfers (0.65% of transfer amount; $1 minimum, $10 maximum)
**Minimum Opening Deposit:** $100
**Interest Bearing:** Yes — 1.00% APY ($0–$24,999) · 1.30% APY ($25,000–$250,000) · 1.00% APY ($250,001+)
**Cash Back:** 1% unlimited on online and signature-based debit purchases
**Entity Types Accepted:** LLC, S-Corp, C-Corp, Sole Proprietorship, Partnership
**FDIC Insured:** Yes — up to $250,000 per depositor per ownership category (Federal Deposit Insurance Act); extended coverage up to $125,000,000 per depositor via partner bank network
**Cash Deposits:** Not available — fully digital account, no branch network
**Availability:** All 50 U.S. states
**Apply:** https://bancadia.com/go/grasshopper/small-business-checking
**Verification Source:** https://www.grasshopper.bank/banking-solutions/small-business-checking/

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## Key Features

### Payment Rails
- ACH Credit or Debit — complimentary
- Same-Day ACH Credit or Debit — complimentary
- Internal Transfer Service — complimentary
- External Transfer Service — complimentary via FedNow payment rail
- FedNow Instant Transfers — 0.65% of transfer amount ($1 minimum, $10 maximum) per transfer
- Domestic Wire In — free; Domestic Wire Out — $10 each
- International Wire In — $5 each; International Wire Out — $25 each

### Cards & ATM
- Earn Unlimited Cash Back — 1% unlimited cash back on online and signature-based purchases with free physical Visa debit card or instant-issue virtual cards
- ATM Network: MoneyPass + SUM
- Physical debit card, virtual cards, and corporate card all available

### Online Banking
- 24/7 online and mobile banking with access to digital banking tools and exclusive perks via the Grasshopper Marketplace

### Platform Integrations
- Plaid integrations — complimentary
- QuickBooks integrations — complimentary
- Autobooks integrations — complimentary
- Grasshopper Marketplace with additional partner integrations

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## Fee Schedule

| Fee Type | Amount | Notes |
|----------|--------|-------|
| Monthly Maintenance | Free | $0 — no monthly fee, no waiver condition required |
| Domestic Wire (Outgoing) | $10.00 | Per outgoing domestic wire transfer |
| Domestic Wire (Incoming) | Free | $0 per incoming domestic wire |
| International Wire (Outgoing) | $25.00 | Per outgoing international wire transfer |
| International Wire (Incoming) | $5.00 | Per incoming international wire transfer |
| Dormant Account | $5.00/month | Assessed monthly when no customer-initiated transaction activity occurs |
| Returned Item — ACH | $10.00 | Per ACH debit or credit return |
| Returned Item — International Wire | $5.00 | Per international wire return |
| Returned Item — Deposited Check | $10.00 | Per deposited check return |
| Stop Payment | $25.00 | Per stop payment request |
| Card Replacement — Standard | $5.00 | Standard shipping of replacement physical debit card |
| Card Replacement — Expedited | $35.00 | Expedited delivery of replacement debit card |
| Foreign Transaction | Free (Grasshopper) | Grasshopper charges no foreign transaction fee; Visa may assess a currency conversion fee |
| Instant Transfers (FedNow) | 0.65% of transfer amount | $1 minimum, $10 maximum per transfer |
| Foreign Item Collection | $30.00/item | For collecting foreign (non-U.S.) checks or drafts |
| Account Research | $25.00/hour | For research requests on account history or transactions |
| Abandoned Property | $50.00/account | When account funds are reported as abandoned property to the state |
| Levy | $50.00/instance | For processing a levy against the account |
| Subpoena | $25.00/instance | For responding to a subpoena |
| Summons | $25.00/instance | For responding to a summons |

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## Eligibility

- LLC
- S-Corp
- C-Corp
- Sole Proprietorship
- Partnership
- U.S.-based business required
- No minimum time in business required
- No minimum annual revenue required
- One account per business (multiple accounts not allowed)

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## Who Is This Account Best For?

### Digital-First Solopreneurs and Freelancers (Sole Props and Single-Member LLCs)
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. 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.

### Tech-Enabled SMBs and Startups (LLCs and C-Corps)
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. 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.

### Partnerships and S-Corps Optimizing Operating Cash Yield
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. Critical limitation: Grasshopper accepts no cash deposits — businesses with physical cash revenue must bank elsewhere or maintain a hybrid account structure.

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## Bancadia Verdict

Choose Grasshopper Small Business Checking if you run a fully digital business — LLC, sole prop, S-Corp, C-Corp, or partnership — with all-electronic transaction flows, a need for free ACH and same-day ACH, and operating balances that would benefit from earning 1.00%–1.30% APY rather than sitting idle in a non-interest-bearing account. The 1% unlimited debit cash back and free Plaid/QuickBooks/Autobooks integrations add genuine value at the $0/month price point. Do not choose this account if your business handles any physical cash revenue — no branch network and no cash deposit capability is an absolute constraint. Also consider alternatives if you need Positive Pay or ACH Debit Block for fraud controls, as neither is available on this account.

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*Data sourced directly from Grasshopper Bancorp, Inc. Last verified: June 29, 2026.*
*Bancadia earns a commission if you open an account through our links. This does not affect our editorial assessment.*