Our verdict
Grasshopper offers a high-yield business checking account called Innovator Business Checking. The account earns up to 2.25% APY, depending on your balance. An even sweeter perk is the unlimited 1% cashback rewards on online and in-store signature-based purchases. The account features digital invoices, automated bookkeeping, cash flow management tools and accounting software integration. You can also enjoy unlimited transactions, virtual debit cards, no monthly maintenance fees, no overdraft fees and no minimum balance requirements. However, like other online accounts, Grasshopper doesn't accept cash deposits, making it a better option for businesses that don't deal in cash, and you'll need $100 to open the account.Best for: Online businesses that want to earn interest and cashback rewards.
- Up to 2.25% APY
- Unlimited 1% cashback rewards
- Unlimited free ACH and incoming wire transfers
- No monthly maintenance fees
- $100 opening deposit
- No cash deposits
APY
Up to 2.25%
Fee
$0 per month
Minimum deposit to open
$100