Grasshopper Bank is a chartered, FDIC-insured digital bank built for small and growing businesses — interest-bearing checking, 1% cashback debit, and no monthly fees.
PickYourBank Rating
9.4
Overall
9.7
APY
9.6
Fees
9.0
App
9.1
Tools
Up to 1.35%
APY on checking (tiered)
1%
Unlimited debit cashback
$0
Monthly / overdraft fees
$125M
Enhanced FDIC available
Grasshopper Bank is one of the few fully digital banks that holds its own national banking charter — meaning deposits are FDIC-insured directly (not via a partner).
It's built for tech-forward small businesses, startups and LLCs that want modern UX without sacrificing real banking infrastructure.
Founded
—
HQ
U.S.
Charter
FDIC-insured
Reach
Nationwide
Built for businesses
Sole props, LLCs, S-corps and C-corps welcome
FDIC insured
Funds held at partner banks, insured up to $250K+
Fast onboarding
Open an account online in minutes — no branch visit
Modern dashboard
Invoicing, expenses, virtual cards & integrations
Here's what Grasshopper offers and who each product is best for.
Interest-bearing checking with 1% cashback.
Up to 1.35% APY · 1% unlimited debit cashback
High-yield business savings, pair it with checking.
Up to 3.00% APY on balances of $25,000+
Real business lending most neobanks don't offer.
Innovator term loans up to $200K · SBA loans
5–10 minutes online — no minimum deposit required for most plans.
Upload formation docs (LLC, corp, sole prop) and government ID.
Receive routing & account numbers, plus a debit card by mail.
Sync with QuickBooks, Stripe, Shopify and start paying vendors.
Grasshopper is a financial technology platform that partners with FDIC-insured banks to provide banking services. Your deposits are held at the partner bank and insured up to $250,000.
Grasshopper's core business checking account has no monthly maintenance fees on the standard plan. Premium tiers with extra features may carry a small monthly fee.
Yes. You'll receive a physical debit card by mail and can also create unlimited virtual cards for online purchases and subscription management.
Yes. Most popular integrations include QuickBooks, Xero, Stripe, Shopify, PayPal and Square.
U.S.-based sole proprietors, LLCs, partnerships, S-corps and C-corps. You'll need an EIN (or SSN for sole props) and a government-issued ID.
Grasshopper is one of the only digital business banks that's actually a chartered bank — so you get the modern UX of a fintech with the safety of a real bank.
Advertiser disclosure: PickYourBank.com may receive compensation when you open an account through our links. This never influences our ratings or recommendations.
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