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Grasshopper

Grasshopper Reviews

8.5

High-Yield APYs And Unlimited Cashback

Written by Andrew Omalley

About Grasshopper | Read More

LS Score

Credibility

7.5

Support

8.5

Accessibility

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Opening Hours

Mon- Fri 9 AM - 10 PM

Sat - Sun Closed

Contact Information

support@grasshopper.bank
888 895 9685
261 5th Ave Suite 610 New York, NY 10016

Social Media

LS Score

Credibility

7.5

Support

8.5

Accessibility

Visit Site

Opening Hours

Mon- Fri 9 AM - 10 PM

Sat - Sun Closed

Contact Information

support@grasshopper.bank
888 895 9685
261 5th Ave Suite 610 New York, NY 10016

Social Media

Grasshopper Online Banking Review

Grasshopper works with a wide range of different businesses and provides some exciting checking and savings accounts. There are relatively high-yielding APYs and don’t carry any monthly fees.

There’s even 1% cashback on all purchases through the checking account, while Grasshopper provides integrated bookkeeping and invoicing tools to account holders. It goes above and beyond to make sure that the needs of its clients are completely looked after.

Grasshopper Online Banking Highlight

$100

Min Deposit

45,000+

ATM Network

None

Other Fees

Online Banking Savings

Min 3.75%

Min APY Savings

Online Banking Checking

1.51-2.25%

Min APY Checking

Pros & Cons

Offers unlimited 1% cash back on purchases
Relatively high APYs are available
Access to 45,000+ no-fee ATMs
Doesn’t charge any monthly fees
Provides free software for bookkeeping

No way for you to deposit cash
Doesn’t have any customer support at the weekend

Account types

Business
Business Checking
Business Savings

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APY's

Account	1 Year	3 Years	5 Years
Innovator Business Checking	1.51% ($0.01-$10k) 2.25% ($10.01k-$250k) 1.51% (>$250k)	1.51% ($0.01-$10k) 2.25% ($10.01k-$250k) 1.51% (>$250k)	1.51% ($0.01-$10k) 2.25% ($10.01k-$250k) 1.51% (>$250k)
Innovator MMA Savings	3.75%	3.75%	3.75%

Features Benefits & Rewards

1% cashback on all debit card purchases through checking account.

Account Types

Grasshopper offers a wide range of different account types, covering various needs. We have looked at two of the most standout options, one of which is a checking account and the other focused on savings.

You’ll learn about each option’s strengths and get a breakdown of other key info like fees and APYs.

Innovator Business Checking

This option allows you to get started with a new account in under 10 minutes through the online sign-up. It doesn’t charge any monthly maintenance fees or have a minimum balance requirement after you’ve initially added funds. You just need to deposit at least $100 when starting and you’re good to go.

Accountholders get a Visa debit card, unlimited 1% cashback on day-to-day purchases (when your average monthly balance is $10,000+), and access to 45,000+ no-fee ATMs across the country.

There are also no transaction charges or overdraft fees in place, while you can earn a tiered APY on your funds. This starts at 1.51% for sums up to $10,000 and rises to 2.25% for sums up to $250,000 and more than $10,000. For any sums above this total will earn 1.51% APY.

Account Type	Key Features	Bonuses (if available)
Innovator Business Checking	Earn Up to 2.25% APY No monthly fees Minimum deposit of just $100	–

Innovator MMA Savings Account

Anyone who has an Innovator Checking Account will be able to open the equivalent savings account. This allows you to get unlimited transfers and earn an APY of 3.75%, which is a very reasonable rate in the current day and age. The minimum required deposit is $25,000, which is something to keep in mind.

Account Type	Key Features	Bonuses (if available)
Innovator MMA Savings	Earn 3.75% APY No monthly fees Minimum deposit is $25,000	–

State Availability

- Available in all states

Written by Andrew Omalley

Andrew is a freelance writer who has been crafting valuable pieces of content relating to personal finance for more than five years. Previously, he studied Economics & Finance at university and he has professional qualifications relating to financial advice.

FAQ’s

How long does it take to sign up for an account With Grasshopper?

You only need ten minutes or less to get started with a new Grasshopper account.

Does Grasshopper offer 24/7 customer support?

The customer support lines at Grasshopper are usually only open Monday to Friday between 9am and 10pm ET each day.

Are Grasshopper deposits secured?

Grasshopper Bank is a part of the FDIC, which means that all deposits up to $250,000 are fully insured.

Customer Support

Grasshopper is a client-focused digital bank and is always looking at ways to enhance the overall user experience for businesses. It provides clients with access to a small business marketplace, which means that you can quickly get SBA loans and discounts from partners like Visa and Slack.

A comprehensive help center is accessible through the Grasshopper website. This is very well-designed and breaks down the queries into specific areas so you can easily find what you’re looking for. Reading through this section is a great way to get a good overall grasp of how Grasshopper works.

The client services team at Grasshopper is reachable in a variety of ways, including by phone, email, text message, and live chat. It aims to always give personalized attention to whoever needs it. You can expect responses during typical business hours Monday to Friday, with the offices closing at the weekends.

Privacy & Security

Grasshopper is an FDIC-insured bank and it deploys advanced security to make sure that its clients are fully protected at all times. Two-factor authentication is in place, with extensive fraud monitoring always running.

Then there’s industry-standard banking encryption and security systems in place to ensure your data or account info doesn’t fall into the wrong hands.

In Conclusion

Grasshopper provides some tremendous business banking account options that carry high APYs and no monthly fees.

The ability to access built-in tools for invoicing and bookkeeping is very good, while you can also earn unlimited 1% cashback on all purchases. This really makes it an ideal fit for the majority of business owners.

Brand Disclaimer

Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information.