Grasshopper Bank
Grasshopper Bank Innovator Business Checking
A chartered digital bank paying interest and 1% debit cashback
Insurance: Direct FDIC coverage as a chartered bank ($250k standard), expandable to $125 million via ICS sweep
Plan Options
Innovator Business Checking
$0
Up to 1.35% (tiered by balance)
- ▸Unlimited 1% cashback on signature debit purchases with $10k+ average balance
- ▸Free unlimited ACH and free incoming domestic wires ($5 outgoing)
- ▸QuickBooks, Autobooks, and Plaid integrations
Accelerator Checking
$0
Up to 3.00%
- ▸Built for VC-backed startups with founder office-hours support
- ▸Unlimited 1% debit cashback
- ▸Free ACH and free domestic wires
Features
- ▸Interest checking up to 1.35% from a directly chartered digital bank
- ▸Unlimited 1% cashback on qualified signature debit purchases ($10k+ average balance required)
- ▸Free unlimited ACH and incoming domestic wires; $5 outgoing domestic wires
- ▸Cash deposits supported since 2025
- ▸Up to 3.00% APY when bundled with Innovator Money Market Savings
- ▸Acquired Auto Club Trust in April 2025 and now also powers AAA member banking
Pros
- +Interest plus debit cashback is a combination almost no one else offers
- +Direct bank charter with ICS sweep to $125M
- +Verified alive and accepting accounts after the 2025 Auto Club Trust merger
- +Accelerator tier is a strong free option for funded startups
Cons
- −1% cashback requires keeping a $10k average balance
- −Best APY band is narrow; above $250k the rate falls back to 1.00%
- −Weekday-only support and no Zelle
- −Integration risk while digesting a 13-million-member consumer banking deal
Our Take
Grasshopper survived its merger headlines just fine; it bought Auto Club Trust, not the other way around, and the business bank is open and competitive. The 1.35% checking rate plus 1% debit cashback is a sneaky-good combination for businesses that keep $25k-$250k and spend on debit. Bluevine still wins on raw APY, but Grasshopper's real charter and cashback give it a distinct lane.
Best for: Businesses holding $25k-$250k that spend on debit and want a real charter
Open at Grasshopper Bank →Last verified 2026-06-11
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