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Earn Unlimited Interest & Cash Back

Earn up to 3.55% APY and 1% cash back. Plus, unlimited transactions with no monthly fees. 1

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Recommended by Industry Experts

Forward-thinking featuresChecking designed to drive your business forward

  • Easy Digital Account Opening

    Apply online in as little as 5 minutes from any device - no lines, no hassle.

  • Say Goodbye to Fees

    No monthly maintenance or overdraft fees. Plus, benefit from free unlimited ACH transfers, incoming domestic wires, and unlimited fee-free transactions.

  • Boost Your Earnings

    Earn up to 1.80% APY with Innovator Checking. 1 Plus, earn up to 3.55% APY with an Innovator Money Market Savings Account. 1

  • Earn Unlimited Cash Back

    Earn unlimited 1% cash back on online and signature-based purchases with your free physical Visa debit card or instant-issue virtual cards. 2

  • 24/7 Online & Mobile Banking

    Access powerful digital banking tools at your fingertips and exclusive perks from industry leaders in our marketplace.

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Access powerful digital tools anywhere, anytime

  • Make and schedule payments from any device - via check or ACH.

  • Deposit a check in seconds by taking a photo. Unlimited check deposits, no additional charge.

  • Create and issue virtual debit cards instantly. Utilize these virtual debit cards for in-person contactless payments or online purchases.

  • Connect outside accounts securely and get a 360 view of what your are spending, saving and earning from all your business accounts. Create spend categories and budgets, and track debts and transaction trends.

  • Manage users, set permissions, create approval workflows and establish security measures.

  • Connect to Quickbooks, Autobooks or your preferred accounting software to streamline your bookkeeping.

Secure and in control

Less Hassle, More FlexibilityEffortless Payments

  • ACH Payments

    Make or schedule one-time and recurring ACH payments for free from any device.

  • Check Payments

    If a vendor doesn’t accept ACH, we’ll handle printing and mailing checks for you through Bill Pay.

  • Wire Payments

    Send payments across the US quickly with fees over $15 less than the industry average.4

  • International Payments

    Seamlessly send payments worldwide with our International Wires feature.

  • Enhanced Security for Your Payments

    Secure your funds with customizable SMS and email alerts and dual approvals.

Open an Account

The Grasshopper Business Debit Card

  • 24/7 Access to Your Money

    Enjoy fee-free withdrawals at 37,000+ MoneyPass and 8,500+ SUM ATMs nationwide.

  • Earn Unlimited Cash Back

    Get 1% cash back on online and in-store signature based purchases. Plus, earn even more when you link your card to VisaSavingsEdge. 2

  • Digital Card Controls

    Lock and unlock your card in seconds from any device with elevated security

Discover the Grasshopper Debit Card Learn More

Award-Winning Digital Banking Solutions

Best Use of Tech in Business Banking

Banking Tech Awards USA 2025

Best Use of Tech in Business Banking

Banking Tech Awards USA 2024

Best Risk Implementation

IBSi Global Fintech Innovation Awards 2024

Innovation in Integration

Narmi Innovation Awards 2024

Best Use of Tech in Business Banking

Banking Tech Awards USA 2023

Savings that grows with your business

  • Unlimited Earning Potential

    Turn your idle cash into a powerful growth tool with a competitive 3.55% APY on balances of $25,000 or more.

  • Unrestricted Access

    Enjoy unrestricted access to your funds with unlimited fee-free transactions, allowing you to move money whenever and however your business requires.

  • FDIC Insurance

    Grow your business with confidence, knowing your deposits are FDIC-insured up to $250,000.

Put your money to work for you Smarter savings starts here

We are GrasshopperWhy partner with us

Grasshopper combines the best of banking technology and years of industry expertise to deliver financial solutions, trusted security and unparalleled support to propel businesses forward.

  • Enhanced FDIC Insurance

    Access enhanced FDIC insurance up to $125 million. 3

  • Top Notch Security

    Your data and money are secure with two-factor authentication, fraud monitoring, bank-level encryption and security.

  • Dedicated Support

    Real humans with real expertise dedicated to giving your business the personalized attention it deserves.

Ready to drive your business forward?

Open an account in little as 5 minutes today!

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Partners & Perks

We firmly believe in a partnership approach to helping our clients achieve their goals. In addition to the powerful digital tools we provide directly, clients also receive exclusive access to our partner marketplace.

Learn More

Funding to scale your business

Need financing to buy a business, revamp current facilities, buy out a partner, or refinance debt? No problem! We have a loan option for you.

SBA Lending

Getting started is as easy as 1, 2, 3Ready to apply?

Open an account online in minutes.

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Frequently Asked Questions

  • Innovator Business Checking is available to all small business owners, not including those in the following industries: adult entertainment, gambling, illegal substances, virtual currency, or weapons and firearms.

    To open an account, you must be 18 years of age or older and a U.S. citizen or permanent U.S. resident with a verifiable address in one of the 50 states or District of Columbia. U.S. Territories, including Puerto Rico, are ineligible. Other restrictions may apply.

    For full terms and conditions, please refer to our Master Service Agreement.

     

  • Many banks offer the option of opening a bank account online or in person. Whatever process you choose, the documentation needed is generally the same. Below you will find a list of information that you will need to provide to open an Innovator Business Checking Account.

    Company Information
    • Type of legal entity
    • Legal name of entity
    • EIN/Tax ID number
    • State of Registration
    • Month/year established
    • Company phone number
    • Company description
    • Company address
    Applicant Information
    • Legal name
    • Job title
    • Ownership %
    • Physical Address
    • Email address
    • Phone number
    • Date of birth
    • SSN/Tax ID number
    Owners/Authorized Signers/Control Person
    • Legal name
    • Job title
    • Ownership %
    • Email address
    • Physical address
    • Phone number
    • Date of birth
    • SSN/Tax ID number

    Beneficial owner information will be required for each individual who owns 25% or more, directly or indirectly, of the company.

  • When opening an Innovator Business Checking account, we will ask for a minimum deposit of $100. Initial funding deposits are provided by manual ACH or linking to an external account at another financial institution via Plaid.

    Once you’ve been approved and the account is open, the funds for your initial deposit will be made available within 5 business days beginning on the first day that the funds are posted to your account. Although an initial funding deposit is required to open an account, there are no monthly fees or minimum balance requirements.

    For more information, please refer to our Innovator Business Checking Fee Schedule. 

     

     

  • To maximize your earnings potential, we recommend leveraging the Innovator Product Suite. Accelerator Checking offers a tiered APY structure based on your balance:

    1.00% APY for balances between $0.01 and $24,999.99
    1.80% APY for balances between $25,000 and $250,000
    1.00% APY for balances above $250,000.01

    However, to truly maximize your earnings, aim for a balance of $25,000 or more in your Innovator Money Market Savings Account, which qualifies for a competitive rate of 3.55% APY. By leveraging the Innovator Product Suite, you can make the most of your funds while enjoying the flexibility of both accounts.

    Note: Rates may change after the account is opened, and fees may reduce earnings.

  • One of the benefits of choosing Grasshopper as your primary financial institution is that you can avoid the hidden fees that are often associated with traditional banking.

    When opening an Innovator Business Checking account, we do require a minimum deposit of $100. However, there are no monthly fees or minimum balance requirements once the account is open.

    For more information, please refer to the Innovator Business Checking Fee Schedule.

     

     

  • As a digital-first bank, we provide powerful digital tools to easily deposit checks from your mobile device. We do not offer cash deposits at this time.

    For more information about manual check processing or assistance with mobile check deposit, please reach out to Client Services.

  • At this time, we do not support Zelle as an integration. However, we have partnered with Plaid to provide our clients with a safe way to connect their checking accounts to other modern payment apps within their network.

© 2025 Grasshopper Bank, N.A. | Member FDIC. Equal Housing Lender | All rights reserved

1. Innovator Business Checking Annual Percentage Yield (APY) is accurate as of 1/1/2025. The minimum amount to open an account is $100.00. Rate tiers are as follows: 1.00% APY applies to balances of $0.01—$24,999.99. 1.80% APY applies to balances of $25,000-$250,000.00. 1.00 APY applies to balances of $250,000.01 and above. Rates may change after the account is opened. Fees may reduce earnings. National average interest rate for interest checking is 0.07% APY – source: www.fdic.gov.

Innovator Money Marketing Savings Annual Percentage Yield (APY) is accurate as of 1/2/2025. The minimum amount to open an account is $100.00. Rate tiers are as follows: 1.80% APY applies to balances of $0.01—$24,999.99.  3.55% APY applies to balances of $25,000 and up. Rates may change after the account is opened. Fees may reduce earnings.

2.Cash Back rewards offer 1.00% cash-back on all Qualified Purchases made by eligible Innovator Business Checking account holders. To qualify for the Cash Back reward of 1.00% cash-back in an Innovator Business Checking account, account holders must meet all requirements and a transaction must be deemed as a Qualified Purchase. Clients are required to maintain an average balance of $10,000 or more within the calendar month in their Innovator Business Checking account and the account must remain open, active, and in good standing to participate in the program, meaning: No NSF (non-sufficient funds) items during the preceding twelve calendar months. Grasshopper Bank reserves the right to modify the description of “good standing” at any time.

Qualified Purchases are signature-based purchases made with a Debit Card from an Innovator Business Checking Account. To make a signature-based purchase, select “credit” rather than debit at point-of-sale kiosks. The “credit” option is most often pre-selected when making purchases online using a debit card. Online subscription payments may not be considered signature-based purchases. The payment transaction type (signature-based or other) is ultimately decided by the merchant and how the transaction is transmitted to Grasshopper Bank at the time of processing. We reserve the right to determine if a transaction was a Qualified Purchase, and to establish additional types of Qualified Purchases that could be made available in a variety of ways. Any goods or services purchased with the Debit Card issued by Grasshopper Bank that are returned or otherwise credited to the account are not qualified purchases. Unlawful purchases and purchases of currency, cash or cash equivalents (including, without limitation, currency from the U.S. Mint, Travelers Cheques, gift cards, Cryptocurrency, Casino Chips, Peer to Peer Payments, prepaid debit cards, account openings, loan payments, or other cash equivalents) made with a Debit Card issued by Grasshopper Bank are not Qualified Purchases. We may require documentation to validate that certain purchases are Qualified Purchases. If you or the Bank closes the account for any reason before the end of the statement cycle, you will forfeit all rewards accrued through your linked Debit Card during that statement cycle.

Important Tax Information
The value of this reward may constitute taxable income and may be reported to the Internal Revenue Service as miscellaneous income to the first signer on the account, in the year received, as required by applicable law. Offer is limited to clients who are citizens of the United States that furnish or have a valid Form W-9 on file and the account must not be subject to backup withholding. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) to you that reflects the value of such reward. Please consult your tax adviser, as Grasshopper Bank does not provide tax advice.

3. By opening an Innovator Business Checking account you have access to Grasshopper’s ICS Deposit product. If you choose to open a ICS Deposit account through Grasshopper Bank N.A. you deposit your funds into a deposit account at Grasshopper bank which sweeps those funds into deposit accounts across a network of FDIC-insured banks, for up to the current SMDIA of $250,000 per eligible depositor, per destination institution, for each ownership capacity or category, subject to applicable terms and conditions of Grasshopper’s ICS Deposit Placement Agreement. A sweep network is a secure network of partner banks that allows us to strategically distribute your ICS Deposit balances. This way, your funds are held by multiple trusted, FDIC-insured banks within the network, and you can manage your finances more confidently, knowing that your deposits are protected up to $125 million instead of the standard limit of $250,000, subject to change at any time by Grasshopper. Terms and restrictions apply. Subject to applicable rate sheet. Interest rates and yields are effective as per the date on the rate sheet and are subject to change without notice. See applicable rate sheets. See our Account Agreements and other applicable terms. Grasshopper Bank, N.A. uses a third-party vendor and agent to help administer this sweep process. Grasshopper Bank reserves the right to modify or discontinue this program for any reason without notice, except as otherwise expressly indicated.

4. The fee for outgoing domestic wire transfers for  Innovator Business Checking clients is $5.  See the full Innovator Business Checking fee schedule here. The national industry average for outgoing domestic wire transfers is $27. (source: https://www.bankrate.com/)

For full terms and conditions about our products and services, please refer to the Master Service Agreement.

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