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NorthOne Reviews

9.2

Good for small-medium size businesses

Written by Bob Phillips

About NorthOne | Read More

LS Score

Credibility

Support

Accessibility

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Opening Hours

Mon-Fri 8am-9pm Eastern

Sat-Sun 9am-6pm Eastern

Contact Information

support@northone.com
Headquarters: 18 West 18th Street New York, NY 10011

Social Media

LS Score

Credibility

Support

Accessibility

Visit Site

Opening Hours

Mon-Fri 8am-9pm Eastern

Sat-Sun 9am-6pm Eastern

Contact Information

support@northone.com
Headquarters: 18 West 18th Street New York, NY 10011

Social Media

NorthOne Online Banking Review

NorthOne is a financial technology company that provides business banking solutions for small businesses. It offers a variety of features, including free ATM withdrawals, free online bill pay, mobile check deposits, ACH transfers, virtual debit cards, custom integrations, and automatic budgeting tools. NorthOne business bank accounts are FDIC insured up to $250,000 and are available to businesses of all sizes. They can be opened online in minutes. NorthOne business bank accounts are a good option for small businesses that are looking for an online banking solution with a variety of features and a low cost.

NorthOne’s online banking service is limited to one type of checking account, which can be accessed through their mobile app or online.

NorthOne Online Banking Highlight

MoneyPass

ATM Network

$10

Maintenance Fees

Yes

Other Fees

Business Online Banking

$50

Min Deposit

Pros & Cons

Unlimited transactions with no fees
Three ways to access customer support: phone, email, chat
A network of 2M+ ATMs

$10 monthly fee that can’t be waived
ATM fees may apply
Cash deposits using Green Dot locations incur a fee of up to $4.95 per deposit

Account types

Business Checking
Business Savings

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Features Benefits & Rewards

Easy to open an account
Mobile app
Debit cards (virtual)
No rewards programs
Custom integrations with many other accounting, payment, and payroll tools
NorthOne is FDIC insured up to $250,000
Free ACH transfers
Free online bill pay
NorthOne Envelopes: budgeting tool

Account Types

Deposit Account (Business Checking)

The Deposit Account is the only type of account NorthOne offers. A $10 monthly account fee and a $50 deposit are required to open an account. NorthOne does not pay interest on the checking account balance.

Account Type	Key Features
Deposit Account	$10 monthly fee No account minimum $50 deposit to open an account No APY offered Plenty of integrations with other business tools NorthOne Envelopes: budgeting tool Free online bill pay

NorthOne Envelopes

If you’re looking for a simple and effective budgeting tool, NorthOne Envelopes is a great option. It’s easy to use, customizable, and effective.

NorthOne Envelopes is a budgeting tool that allows you to create virtual envelopes for different categories of expenses. You can then transfer money into each envelope to track your spending. Envelopes can be a convenient way to stay on budget and avoid overspending.

Here are some of the benefits of using NorthOne Envelopes:

It’s easy to use: NorthOne Envelopes is a simple and intuitive budgeting tool. You can create envelopes in minutes and start tracking your spending right away.
It’s customizable: NorthOne Envelopes is highly customizable. You can create as many envelopes as you need and name them whatever you want.
It’s effective: NorthOne Envelopes has been shown to be an effective budgeting tool. Studies have shown that people who use envelope budgeting are more likely to stay on budget and save money.

Here are some tips for using NorthOne Envelopes:

Start by creating a list of your expenses: This will help you identify the categories of expenses that you need to budget for.
Set a budget for each category: Once you know what you’re spending money on, you can set a budget for each category.
Transfer money into each envelope: Once you’ve set a budget for each category, transfer money into each envelope.
Track your spending: As you spend money, track your spending in each envelope.
Adjust your budget as needed: If you find that you’re overspending in one category, you can adjust your budget accordingly.

Business Tools Integration

NorthOne offers a variety of integrations with other popular business tools. These integrations can help you streamline your business operations and save time.

These are just a few of the many integrations that NorthOne offers:

QuickBooks: NorthOne integrates with QuickBooks Online, making it easy to sync your transactions and keep your books up-to-date.
Xero: another popular accounting software.
FreshBooks: invoicing and time tracking software.
Stripe: a payment processing platform.
PayPal: another payment processing platform.
Square: point-of-sale system.
Venmo: peer-to-peer payment platform.
Expensify: an expense tracking software.
Gusto: a payroll processing platform.

NorthOne’s integrations can help you save time and streamline your business operations. If you’re looking for a way to improve your business’s efficiency.

Opening an Account With NorthOne

The minimum deposit for a NorthOne business bank account is $50. You can fund your account using a debit card or wire transfer.

Here are the other account requirements:

You must be at least 18 years old.
You must be a U.S. citizen or resident.
You must have a valid Social Security number.
You must have a business entity (sole proprietorship, LLC, corporation, etc.).

If you meet all of the requirements, you can open a NorthOne business bank account online in minutes.

State Availability

- Available in all states

Written by Bob Phillips

Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.

FAQ’s

Does NorthOne have an app, or is banking strictly done online?

NorthOne does have an app that allows customers to initiate ACH and wire payments, deposit checks, and pay invoices.

Is my account at NorthOne insured?

All business banking products and services are offered by The Bancorp Bank, which is an FDIC-insured financial institution.

Which ATMs can I use?

Deposits and withdrawals can be made from the nationwide MoneyPass ATM network.

Customer Support

NorthOne offers customer support via telephone, email, and live chat. We used the chat feature to inquire about their fees and found that they use a third-party chat service that uses a bot to answer questions.

We found NorthOne’s telephone system prompts easy to use. We were given the choice of holding for a live representative or entering a time to be called back, eliminating our need to wait on hold.

In Conclusion

NorthOne is a relatively new fin-tech company that has grown rapidly. They recently secured a substantial round of Series B financing and provide banking services through an FDIC-insured bank – The Bancorp Bank. Besides a limited product line and their monthly fee, we see no major drawbacks to doing business with NorthOne.