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Rho Business Banking review

Gives startups and high-growth companies the banking tools they need to scale their business.’s rating: 3.8 / 5.0


Rho Business Banking is an all-in-one digital account that gives modern business owners the tools they need to run more efficiently. Its luxury features include built-in expense management tools, accounting software integrations, corporate cards that earn 1% cash back and Treasury Management Accounts that come with $75 million in FDIC insurance. But it doesn’t come with ATM access and you’ll only earn 0.01% APY on your account balance.

$0 per month





Minimum deposit to open


Fee$0 per month
Minimum deposit to open$0
ATMsNo access to ATMs

Review by

Cassidy Horton is a writer for Finder, specializing in banking and kids’ debit cards. She’s been featured on Legal Zoom, MSN, and Consolidated Credit and has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. When not writing, you can find her exploring the Pacific Northwest and watching endless reruns of The Office.

Expert review

Rho Business Banking is an all-in-one digital platform providing high-growth businesses with the banking, expense management and accounts payable services they need to succeed. The company’s tagline is, “Bank like the fortune 500,” which is evident through its premium account features, such as corporate cards that earn 1% cash back, seamless expense management tools and a savings account that holds up to $75 million in surplus capital.

It’s best for modern entrepreneurs who are fast-tracking their growth and want a business account that can keep up. But it still has its downfalls. Both the checking and savings account only earn 0.01% APY — a rate much lower than other business bank accounts. And you can’t use a corporate card to withdraw cash at an ATM. But depending on your needs, Rho’s plush features may outweigh these cons.

How do I open a Rho Business Banking account?

You’ll need to schedule a 25-minute demo with a team member before you can open a Rho Business Banking account. Here’s how to do it:

  1. Go to the provider’s site and follow the steps to apply.
  2. From the Rho website , click Join Rho Today.
  3. Use the calendar to schedule a 25-minute demo with a member of Rho’s banking team.

Required information

You’ll need the following information to open your Rho Business Banking account:
Business information:

  • Business name
  • Business address
  • Entity type
  • EIN letter issued by IRS
  • Company bylaws
  • Articles of incorporation
  • Local business licenses if registered out of state

Personal information for each beneficial owner:

  • Full name
  • Date of birth
  • Residential address
  • Email
  • Phone number
  • Government-issued photo ID or passport if international
  • Social Security number


Open a Rho Business Banking account when you meet these requirements:

  • At least 18 years old
  • Incorporated business that’s registered in the US

How long will it take to get my card?

You’ll receive your Mango card in the mail within seven to 10 days of completing your application.

What are the benefits of a Rho Business Banking account?

Rho Business Banking comes with standard digital banking features, such as a comprehensive mobile app and budgeting tools, as well as these features:
  • No hidden fees. Every Rho Business Banking account comes with free domestic wires and same-day ACH transfers. Plus, access to the international transfer network for USD SWIFT transfers.
  • Team accounts. Create subaccounts and budgets for each team — such as marketing or product development — so you know exactly how much they’ve spent so far.
  • Two accounts in one. Rho gives you access to flexible business checking accounts that are FDIC-insured up to $250,000 and Treasury Management Accounts — which act like savings accounts — that are insured up to $75 million.
  • Cashback corporate cards. Get physical or virtual corporate cards for each team member and earn up to 1% cash back on every purchase.
  • Seamless expense management. Each team member gets their own customized account where they can upload receipts, invoices and documents.
  • Integrations. Rho Business Banking connects seamlessly to Quickbooks, Wave and Sage, so you can synchronize and categorize spending all within Rho.
  • Dedicated business banker. Each Rho customer gets assigned with their own dedicated business banker and credit team.

What should I look out for?

The Rho Business Banking account is a premium option for companies, but it has these drawbacks:

  • Low APY. You’ll only earn 0.01% on your Rho checking account and Rho savings treasury account.
  • International wire minimum. You can’t transfer less than $1,000 using an international wire.
  • No ATM access. Although Rho comes with an unlimited number of cards for you and your employees, you can’t use these cards to withdraw cash at an ATM.
  • Can’t open without a demo. The only way to open a Rho account is to schedule a 25-minute demo with a banking specialist first.

If you’re looking for a business bank account that comes with ATM access, explore these top-rated options.

Compare Rho Business Banking with other checking accounts

Name Product Fee Minimum deposit to open ATMs
NorthOne Business Banking
$10 per month
withdraw cash at any Cirrus branded ATM location (+1,000,000 locations accross the U.S + 2m worldwide), including MoneyPass ATMs

A digital bank account featuring free cash deposits, on-demand customer support and streamlined bookkeeping integrations.
First Internet Bank Small Business Checking
Up to $10 ATM fee reimbursements a month, plus free access to the ATM Plus Network
No minimum balance and no monthly service fee. Make unlimited deposits. Get reimbursed up to $10 per month in ATM fees
Chase Business Complete Banking℠
$15 per month
(can be waived)
over 16,000 in-network ATMs
This Chase business checking account has built-in card acceptance using a smartphone card reader. $300 bonus offer
Axos Bank Business Interest Checking
$10 per month
(can be waived)
ATM fees reimbursed at any ATM nationwide
Earn up to 0.81% APY and pay no monthly maintenance fee with an average daily balance of at least $5,000.
$4.99 for Lili Pro
32,000 fee-free ATMs nationwide
Freelancers get paid up to two days early and can automatically set aside money for taxes with the Lili digital bank account. Get up to 10 referral rewards, or $1000.
Brex Cash account
Brex Cash is an innovative cash management account that lets business owners choose whether to save or invest funds.
Anywhere Mastercard is accepted
Use your business debit card anywhere Mastercard® is accepted, with no monthly fees, sign-up fees, or annual fees.
BankProv Small Business Checking
From $0.01 to $99,999 account balances
Three branch locations in Massachusetts and four in New Hampshire. Plus, thousands of ATMs around the country through the SUM network
Attractive option for businesses that value safety and hold a high account balance.
Novo doesn't charge ATM fees and will reimburse any non-network fees you incur
A low-fee online checking account designed for small businesses and startups.
Axos Bank Basic Business Checking
ATM fees reimbursed at any ATM nationwide
No monthly maintenance fees, a low minimum deposit requirement, unlimited domestic ATM fee reimbursements and $100 bonus
LendingClub Tailored Checking
$10 per month
(can be waived)
Free ATMs worlwide + unlimited ATM fee rebates
with Tailored Checking get free ATMs worldwide and unlimited penalty-free transactions.

Compare up to 4 providers

How do I deposit or withdraw my money?

Deposit and withdrawal funds from your Rho Business Banking account in a variety of ways:


  • Direct deposit
  • Wire transfer
  • Mobile check deposit
  • ACH transfer
  • Transfer from a linked account


  • Wire transfer
  • ACH transfer
  • Transfer to a linked account

Frequently asked questions

Checking account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.

Read the full methodology of how we rate checking accounts.

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