Grasshopper Bank
digital-banking · USGrasshopper Bank is a fully chartered digital bank — meaning it holds its own banking charter rather than operating as a fintech through a partner bank — which gives it the ability to offer products and services that fintech platforms cannot. Its business checking account offers cashback on debit purchases, a feature unique in the business banking category, alongside high-yield interest on deposits. Grasshopper serves small businesses, startups, and venture-backed companies with a full suite of banking products including business checking, savings, lending, and SBA loans. Being a chartered bank rather than a fintech means Grasshopper can offer direct FDIC insurance without relying on partner bank arrangements, and can provide credit products directly. The bank has grown its reputation particularly among startups and innovation-economy companies that want the trust of a real bank with the experience of a digital platform.
Quick Answer
Grasshopper Bank is designed for smb businesses. A free tier is available. Best suited for US-based businesses. Cashback on business debit purchases is unique — most business banks charge fees rather than pay rewards
Pricing
// verify pricing before launch — prices shown may not reflect current vendor rates
Key Features
- •Cashback on debit card purchases — unique in business banking category
- •High-yield interest on business checking balances
- •No monthly fees and no minimum balance requirements
- •Full banking charter — direct FDIC insurance not through partner banks
- •Business savings accounts with competitive yields
- •SBA loans and business lending directly from the bank
- •API access for developers and fintech integrations
- •Free domestic wire transfers
Pros
- +Cashback on business debit purchases is unique — most business banks charge fees rather than pay rewards
- +Full banking charter provides stronger regulatory standing than fintech platforms
- +Direct FDIC insurance without partner bank arrangements
- +High-yield interest on checking balances alongside cashback
- +SBA loan access directly through the bank — no referral to third parties
- +No monthly fees or minimum balances
Cons
- −US only
- −Smaller platform than Mercury or Brex — fewer integrations and features
- −Less name recognition than established neobanks in the startup ecosystem
- −Mobile app less feature-rich than competitors
- −International wire capabilities less developed than Mercury
- −Customer support availability less extensive than larger platforms
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Reviewed by Finatune · Last updated 2026-07-01