Rho
Rho Business Banking
Zero-fee banking, cards, and AP automation for incorporated companies
Insurance: Checking through Webster Bank, N.A.; savings sweep insured up to $75 million across program banks (Treasury portfolios are securities, not FDIC insured)
Features
- ▸Free same-day ACH and free domestic wires with high limits ($2M daily ACH)
- ▸Corporate cards earning up to ~2% cashback with granular controls
- ▸Full AP automation with approval workflows included free
- ▸Expense management included at no per-seat cost
- ▸Multi-entity support for holding-company structures
- ▸Rho Treasury invests idle cash in T-bills and short-term bond funds at 3.19-4.39% net
Pros
- +Everything is free: no subscription, no per-user fees, no ACH or domestic wire fees
- +Up to $75M FDIC via the savings sweep is the highest coverage in the category
- +AP and expense tooling that competitors charge per-seat for
- +Strong fit for multi-entity and finance-team-led companies
Cons
- −Sole proprietors and unincorporated businesses are excluded
- −Checking earns nothing; yield requires moving money to savings or Treasury
- −Treasury needs $100k minimum, carries a 0.15-0.60% fee, and is not FDIC insured
- −Zero cash or ATM capability
Our Take
Rho is what you graduate to when a bookkeeper becomes a finance team: free banking fused with AP automation and corporate cards that would cost real money elsewhere. The $75M sweep coverage is unmatched. It is wasted on a solo operator, and the no-cash, no-sole-prop posture makes that explicit. For funded companies and multi-entity groups, it is a top-tier pick.
Best for: Incorporated companies that want banking and AP automation in one free platform
Open at Rho →Last verified 2026-06-11
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