Grasshopper Bank

What is Grasshopper Bank?

Grasshopper Bank is an FDIC-insured digital bank that provides business checking accounts, savings, and lending solutions tailored to startups and small businesses. Unlike traditional banks, Grasshopper prioritizes online tools, automation, and integration with popular financial institutions to help business owners manage money efficiently and invest in commercial real estate. The bank also helps businesses avoid unexpected fees by offering alerts and protections against potential overdrafts.

The bank offers interest-bearing business checking and savings accounts, along with payment tools such as ACH, wire transfers, and bill pay. Grasshopper also supports venture-backed companies through specialized startup banking services and dedicated relationship managers.

Open a Checking Account Visit Grasshopper Bank’s website

Grasshopper Bank online banking.

Open a Savings Account Visit Grasshopper Bank’s website

Grasshopper’s accounts are designed to be easy to open and manage entirely online, making it appealing for founders who prefer remote banking. Businesses can open accounts with no minimum balance requirements and access real-time transaction tracking through a clean, modern interface.

Additionally, Grasshopper Bank offers exceptional business lending solutions through their SBA loan programs, allowing you to apply for both SBA 7(a) and 504 loans. Grasshopper Bank also offers term loans, venture capital, and commercial real estate lending, focusing on clear, responsive support, guidance, and flexibility throughout the entire process.

Explore Loan Options Visit Grasshopper Bank’s website

Is Grasshopper Bank legit?

Grasshopper Bank was founded in 2019 and is headquartered in New York City. It is a state-chartered bank and a member of the FDIC, meaning customer deposits are insured up to $250,000 per depositor, per account category.

Grasshopper has built a strong reputation among startups, SaaS companies, and small businesses seeking a banking partnership that is familiar with venture funding, rapid growth, and modern financial workflows with its Innovator Business Checking Account. The bank is transparent about fees and terms, and customer reviews frequently highlight its responsive support team and streamlined digital experience.

How much does Grasshopper Bank cost?

Grasshopper Bank requires a $100 initial deposit but has no ongoing maintenance fees.

Starting price:

$100 initial deposit

Free trial:

Not Available

Free version:

Available

Grasshopper Bank’s mobile app.

What’s included in every Grasshopper Bank plan?

• 24/7 online and mobile banking access
• Unlimited transactions digitally
• ACH transfers and wire payments
• Bill pay and mobile
• Check deposit management
• FDIC insurance up to the applicable limit, access to enhanced FDIC insurance up to $125M
• Integration with accounting software like Autobooks and QuickBooks
• Rewards visa physical and virtual debit cards with team based card controls
• Integrations with AI platforms

Open a Checking Account Visit Grasshopper Bank’s website

Which features does Grasshopper Bank offer?

Banks for Small Business Features
	Manage Payments
	Business Growth
	Online Bill Pay

Other notable Grasshopper Bank features

• Business checking
• High-yield business savings
• ACH & wire transfers
• Credit card and debit card purchases
• Bill pay
• Accounting integrations

Open a Savings Account Visit Grasshopper Bank’s website

What types of support does Grasshopper Bank offer?

	Data Migration
	1-on-1 Live Training
	Self-Guided Online Training
	Knowledge Base
	FAQs/Forum
	Email Support
	Live Chat
	Phone Support

Explore Loan Options Visit Grasshopper Bank’s website

Grasshopper Bank user review highlights

We analyzed 346 user reviews about Grasshopper Bank from three third-party review websites to provide this summary.

Many positive reviews highlight Grasshopper Bank’s responsive and knowledgeable customer support. Small business owners frequently praise representatives for being transparent, efficient, and respectful of their time, noting that questions are answered quickly without unnecessary back-and-forth. Users also appreciate the convenient online application process, competitive interest rates with its Money Market Savings Account, and the lack of monthly fees. Several reviewers describe Grasshopper as a reliable banking lender, especially for LLCs and startups that need flexible deposit limits, transparent pricing, and easy-to-use online banking tools.

While many customers view Grasshopper Bank as fast, fair, and startup-friendly with a thorough onboarding process, some have noted delays in outbound wires and caution that businesses with complex needs or regulated industries may encounter challenges due to eligibility requirements. However, the Grasshopper Bank team offers 1-on-1 onboarding calls with every client to help set up their accounts, meaning you can work directly with a representative to ensure all requirements are met and understood. Overall, users find Grasshopper a highly reliable and supportive banking lender.

• Ease of Setup – Many users say opening a Grasshopper Bank account is quick and straightforward, with a fully online application and clear steps. However, some businesses report being declined or delayed during approval without detailed explanations, which can be frustrating for first-time applicants.
• Ease of Use – Customers frequently praise the clean, intuitive functionality of the online banking platform, noting that everyday tasks such as viewing transactions, managing deposits, and making payments are efficient and straightforward. A few users mention occasional trouble with transfers or additional forms for certain account actions.
• Features – Reviewers highlight interest-bearing business accounts, low or no fees, and higher deposit limits at fee-free ATMs than at traditional banks by partnering with MoneyPass. While the core banking features meet most small business needs, some users feel certain processes, such as savings account setup or domestic wire handling, could be streamlined.
• Quality of Support – Support is often described as friendly, knowledgeable, and responsive, with representatives who provide clear answers and resolve issues efficiently. Some negative experiences point to slow follow-ups, difficulty reaching specialized teams, or limited transparency during compliance-related reviews.
• Value for Money – Many small business owners believe Grasshopper Bank offers strong value due to its competitive interest rates, transparent fees, and startup-friendly structure. However, users who experienced account denials, closures, or unresolved issues feel the value diminishes when problems interrupt business operations.

Grasshopper Bank Contact Information

Parent Company:

Grasshopper Bancorp

Headquarters:

New York City

Year Founded:

2019

Website:

grasshopper.bank/

Facebook:

facebook.com/grasshopperbank

Instagram:

instagram.com/grasshopperbank/

Twitter (X):

x.com/grasshopperbank/

LinkedIn:

linkedin.com/company/grasshopperbank/

YouTube:

youtube.com/@grasshopperbank

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