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Grasshopper Banking Review

Digital banking solutions for businesses

Reviews 81
Grasshopper
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Grasshopper
Grasshopper
Great
Reviews 81
Danielle Greving
Apr. 05, 2023
2 min read
Danielle Greving author image
Grasshopper Summary
Headquartered in New York City and founded in 2019, Grasshopper is a digital banking solution for small businesses, startups, and venture capital & private equity firms. Checking accounts for start-ups and SMBs can be opened in less than 10 minutes, and there is no monthly maintenance fee or minimum balance required after funding. Account holders get access to a free Visa debit card, and the accounting software Autobooks.

Pros

  • No overdraft fees or monthly maintenance fees
  • Unlimited free transactions
  • Unlimited 1% cash back on everyday debit card purchases

Cons

  • No reviews on Trustpilot or other third-party sites
  • No 24/7 customer support

Grasshopper at a glance

9.2
Editorial score

Fees?

No fees at all
10.0

Security

FDIC insured, encryption and supports 2 factor authentication
8.0

Customer service

Early morning, evening and weekend service with multiple communication options and a dedicated fraud team
8.0

Online experience

Excellent user friendly site with transparency of rates and full online banking capabilities
10.0

Mobile experience

Excellent mobile app with all mobile banking features enabled, including digital check deposits
10.0

Grasshopper Grasshopper Visit Grasshopper

Advantages Over Traditional Banks

Unlike traditional banks which typically require an in-person appointment to set up a business banking account, Grasshopper allows you to set up a bank account online in as little as 5 minutes. Once you fund your account, you can take advantage of free unlimited transitions with no minimum balance requirements, no monthly maintenance fees, and no overdraft fees.

You can also earn unlimited 1% cashback with Grasshopper, and you can earn up to 2.25% APY on your account which is 33X the national average interest rate on balances from $25,000 up to $250,000.

Cutting-Edge Banking Services

All banking functions can be completed via desktop or Grasshopper’s mobile app. Grasshopper offers easy bill pay, as you can make and schedule payments from any device. This can be done via check or ACH.

Grasshopper customers also receive a free membership to Autobooks, an accounting software geared toward small businesses. Autobooks allows you to send personalized invoices, generate reports, reconcile transactions, and manage cash flow. Streamlined reporting is also available, which can help you better manage your cash flow.

You can also seamlessly integrate Grasshopper into Quickbooks if this is your preferred accounting software. Grasshopper also offers remote check deposits. Deposit a check in seconds by simply taking a photo.

API banking, which allows you to scale your business efficiently, is also available through Grasshopper.

Traditional Banking Services

While Grasshopper is a cutting-edge online banking solution, it still offers many traditional banking services. In addition to business banking, Grasshopper also offers SBA lending, CRE lending, and venture capital and private equity lending.

A free Visa debit card is included with your account, allowing you to earn unlimited 1% cash back on everyday debit card purchases. Fee-free ATM withdrawals are also available at 37,000+ MoneyPass and 8,500+ SUM ATMs nationwide.

It offers commercial API banking platforms, SBA lending, fintech-focused Banking-as-a-Service (BaaS) real estate lending, and commercial yacht financing.

Interest Rates and Fees

When opening a Grasshopper account, you’ll need to deposit a minimum of $100. Once you’ve made this deposit, there are no monthly maintenance fees or minimum balance requirements.

Grasshopper does not charge overdraft fees either, and it offers unlimited transactions and transfers.


Innovator Business Checking for small businesses and start-ups
Minimum deposit to open account
$100
Monthly maintenance fee
$0
Incoming and outgoing ACH transfers
Free
Incoming wire transfers
Free
Overdraft fee
$0
ATM feeFree ATM withdrawals at MoneyPass and SUM ATMs. Otherwise, rates vary depending on the ATM
$0.01 - $24,999.99
1.51% APY
$25,000.00 - $250,000.00
2.25% APY

Customer Service and Online Experience

Live chat support is available through Grasshopper’s website 24/7. Customers can also call or text the bank Monday through Friday from 9AM to 11PM EST, excluding federal holidays. The Grasshopper website also offers a robust FAQ page, help center, and blog. Email support is also available

Mobile App

Grasshopper has a full suite mobile app available.

Security

Grasshopper bank is a member of FDIC, which means your deposits are insured for up to $250,000. Enhanced security features include dual control and multi-factor authentication, fraud monitoring, and bank-level encryption. Grasshopper has also recently partnered with FiVerity, a fintech company that aggregates fraud signals its customer banks use without compromising customer privacy.

You can also customize levels of access for each user on your Grasshopper account. As the owner of the account, you can grant permissions, create approval workflows, and set limits for account users.

On top of this, Grasshopper enables you to customize your security alerts so you can stay on top of your accounts, transactions, and user activity.

Summary

Grasshopper is a digital banking platform that enables you to seamlessly manage your business’s banking needs. Grasshopper offers many fee-free services, including no overdraft fees and no monthly maintenance fees once you’ve made the minimum $100 deposit to your account.

When you sign up for online banking through Grasshopper, you also get free access to Autobooks, which allows you to generate reports, create invoices, manage cash flows, and more.

Grasshopper offers robust customer support via email, phone, and live chat. Including digital check deposit.

Methodology

Information for this review was gathered using the Grasshopper company website.


Grasshopper Grasshopper Visit Grasshopper

Danielle Greving author image
Written by
Danielle Greving
Danielle is a tech and finance writer with experience in personal finance, cryptocurrency and numerous SaaS companies. Her bylines can be found on MoneyTips, CoinMarketCap, GraniteShares and Top10.com. An avid traveler and former ESL teacher, Danielle's writing blends a wealth of technical and financial knowledge with simple and straightforward explanations for everyday readers.
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Trustpilot reviews
See what some customers are saying about Grasshopper
Grasshopper
Great
Reviews 81
on
Excellent
62%
Great
1%
Average
1%
Poor
2%
Bad
34%
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chandra prakash
6 days ago
A bank with lot of offers like cash…
A bank with lot of offers like cash back etc easy to access
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khalid
6 days ago
Nice and good bank
Nice and good bank
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ashish kumar verma
6 days ago
very good website
very good website
R
rama
13 days ago
Customer Service is excellent and…
Customer Service is excellent and friendly staff
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harsha kaku walve
13 days ago
Good place to visit
Good place to visit
c
candy
13 days ago
it was an amazing experiance.
it was an amazing experiance.
h
harpreet bawa
13 days ago
Easy simple and fast
Easy simple and fast
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nav deep
13 days ago
Good bank …..
Good bank …..
O
om prakash mishra
13 days ago
Excellent business attitude
Excellent business attitude Highly impressive work in smooth manner, Great keep it up....
J
jayesh mishra
13 days ago
Bank services are superb
Bank services are superb
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anuj kushwaha
13 days ago
Simple
Simple, Fast and Easy. 1 of the bank I recommend for small business. No marketing spam. Fast page loads.
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harsh goswami
13 days ago
Grassshopper Bank is bank which…
Grassshopper Bank is bank which provides free online business checking account cash back offers and it is Top notch annual percentage yield provider and it’s privately owned bank based out of New York.
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manu raj
13 days ago
Good experience with the bank
Good experience with the bank
G
g budden
a month ago
WARNING!!! THEY LOST MY MONEY!!!
I opened a business checking account with this so-called bank. I decided to close the account in May and requested to have my funds returned upon closure. Here we are in November and I still do not have the funds from my account that were to be returned to me. I called to inquire and was told that they do not know where my money is and that they would have to reach out to the "OPERATIONS DEPARTMENT" and call me back or send me an email. I have never in my life had to deal with this sought of incompetency in a bank! They closed my account and kept the money!!! There are too many other options out there for you than to choose this "so-called bank" for your business! I DO NOT RECOMMEND this bank!!!!
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philip keiter
a month ago
Simple Fast Easy
Simple Fast Easy. 1 of the 3 banks I recommend for small business owners. No nonsense account creation. Easy to do the important things. Advanced bill pay feature. No marketing spam. Fast page loads.
A
alex
2 months ago
Great experience so far!
Great experience so far! I have been a client at Grasshopper for about 4 months now and have nothing but amazing things to say about their support team. Always friendly and helpful with any questions I have. Would recommend to anyone looking for a business bank account!
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customer
2 months ago
This bank is absolutely awful!!
This bank is absolutely awful!!! They closed my account saying my business was "outside of their objectives" and froze my money for 17 days!!!
J
joanne santos
2 months ago
Day #2.
Day #2. I am beyond annoyed and disappointed with Grasshopper. I sent three emails in one day, with no response. I was told that someone would respond to me the same day. I cant understand how they can close my account with no advance notice. I deposited a invoice payment, it took over 5 business days for it to clear. Once it cleared I sent a wire transfer to Workers Comp to pay my employees. I received a message from Workers Comp that the payment was stopped. I receive an email from Grasshopper that my account was closed, and that I needed to send them the invoice of payment, so they could investigate the funds deposited. I was so embarrassed, did not know how to explain to my employees that they would not get paid. I had to pay part of my employees from my personal account. Grasshopper for your information the IRS sends notices. What makes you different???? I will contact every person I need to contact until Iget my money back.
J
joanne santos
2 months ago
I am extremely disappointed with this…
I am extremely disappointed with this bank. I am a person who does extensive research sadly I did not do enough with this bank. The only reviews I read were good ones. I miss this page. After waiting about 7 days for my check to clear, my account was frozen the next day. I was told that since I have a new account, the money that I put in my account had to be investigated. I just sent a wire transferred for my employees to get paid, and sadly they did not. They were not happy. They froze my account, I can't log in, and they tell me we need to investigate this transaction before we give you "your money" Yes my money. How dare they think it's okay to freeze your account with no advance notice. My staff worked hard to get paid, and they can not until "My Money" is given to me. You ask to speak to the department (operations) department they call it. The staff tells you there's no phone number for them. I will never recommend Grasshopper bank to anyone.
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tammy breymaier
2 months ago
NOT a good bank for a business
This bank touts being a good bank for small business, but they miss the mark. I transfered money from my personal account to my grasshopper business account. The website says the transfer will clear in 2-3 business days. Day 1.5 the money is taken from my personal account and day 4 my business account still does NOT have the transfered funds. Apparentley, the wesbiste says 2-3 days, but they put a 5 day business hold on business accounts. I do not recommend this bank. You can do much better.
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jedidia n
2 months ago
Account closure with no explanation.
Came to this bank highly recommended by business associates. But said to say I was highly disappointed and humiliated while banking with them. Been a customer to this bank for close to a year. Out of the blue I got an email saying my account has been closed effective immediately. No prior communication was sent to me with regards to the closure. No reason was given why my account was closed. They said I am too much of a risk. Explain to me what risk are you talking about. What fault have I committed As to why my account was suddenly closed. No one can accurately tell me what I did wrong. I have never done anything on my account that could raise any. concern. I am a business owner I have vendors and contractors I pay using this bank account. Now I look like an unserious individual in-front of my vendors and contractors. Very unserious way to conduct business. At least have the professionalism to inform me prior about closing my account so I can safely transfer and move my funds without any inconvenience. This is the most humiliating experience I have ever had banking.
S
small service business owner
2 months ago
Don't Apply if You're Over 55
After being almost immediately approved by Grasshopper, and having the initial deposit transferred, I tried to access my new account, and was unable to log in. When I contacted Customer Service I was told my account had been rejected because I was too much of a risk. WHAT? I've been in business for more than 20 years, my credit rating is in the 800s, I have never bounced a check.... my financial record is stellar, and it made no sense. I asked, but all they kept repeating was that "These decisions are risk-based and made in order to protect the Bank." So - I believe I have figured it out. I'm too old! This is ageism at it's most obvious... Grasshopper doesn't want to do business with a company that is run by someone over the age of 55. That's, literally, the only "risk" I might present. Their loss. (PS, it took 10 days to get my initial deposit back.)
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kalyn wisniewski
3 months ago
Everything I need
They have everything I need in a bank and the customer service is fantastic!
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brittany kendrick
3 months ago
Virtual Banking with a warming banking relationship
Since opening an account with grasshopper, the experience has been top tier. From the banker to the supportive tech staff, the grasshopper team were able to remedy our application discrepancy submission. Its been smooth sailing ever since. My company has an account with a major bank institution, and we dont have a relationship with any banker there. As grasshopper, its refreshing to have a banking relationship and informative call center. The cashback rewards is a major plus too!
B
brooke
3 months ago
Quick & easy
Quick; easy; good interest rate for checking
S
sarah s.
3 months ago
Great Bank!!
Great client service team and mobile app!
g
grasshopper client
3 months ago
Highly recommended
US company with human staff in NY that pick up the phone/talk on video, even for client on-boarding. Simple account was all our fund needed, so completely satisfied with the features of the service. Highly recommended especially to companies/teams outside the US who would like a US current account.
T
thomas pt
3 months ago
Best business account
Best business account. All digital with amazing customer service!
C
colon-perez
3 months ago
No charges and pay interests
Both the mobile and computer applications are easy to use. The best of all is that there are no service charges and, on the contrary, they pay me interest.
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pj lavery
3 months ago
Terrible - Avoid at all cost.
Terrible, do not trust them. They have poor customer service and are a financial services scam artist. Stick with a reputable brick and mortar bank for your business.
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su fern khoo
3 months ago
Great online platform and app!
Great online platform and app! Transfers have been flawless and fast!
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gigi bossart
3 months ago
Amazing Perks + Good Customer Service
They have a good customer service. They helped me log into my account when the app was being weird and I called them. What really makes the bank great in no particular order is: They don’t have foreign transaction fees on the debit card; They give you one percent back for using the debit card; If you have a certain amount of money in this bank account, they will give you up to 2.25% interest; they don’t make you jump through hoops like receiving deposits or spending money to collect your interest. This bank is solid in my book.
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rhonda
3 months ago
Starting my new Etsy store
Starting my new Etsy store, was really easy to set up. I encourage people to try this new way to have a bank account.
R
research by she incorporated
3 months ago
I appreciate the high level of customer…
I appreciate the high level of customer service.
M
michael sis
3 months ago
No-frills Free Commercial Banking
If you are looking for a no-bones free monthly checking account to start your MMO business, this is the bank.
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layne rushforth
3 months ago
Great Online Banking Experience
Opening a business account with Grasshopper Bank was painless. Customers are given a superior interest rate, cash-back benefits, the use of a debit card, and a useful smart-phone app. Transferring funds to and from other banks is easy and painless. All of those benefits make banking with Grasshopper a no-brainer.
C
carl johnson
3 months ago
I am small business owner and…
I am small business owner and Grasshopper Bank met my needs for my business.
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skinnocence
3 months ago
Great customer service and easy to use…
Great customer service and easy to use platform. The only thing I wish was different is, I wish I could place cash deposits in an ATM.
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stephen silverstein
3 months ago
Best bank I have ever worked with
Best bank I have ever worked with. Fast, responsive, accommodating!
A
ashton l
4 months ago
They closed my account for fraud.
Got the recommendation from Nerd Wallet on this Business checking account. Customer service was great, I got my checks and my card, then I had deposited a check from a client that had bounced because he had passed away.. They closed my account almost immediately without notice for fraud..
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mirabile industries
4 months ago
Don't bother with the innovator checking account
I thought a higher interest checking account would be good for our business account. Nope. We've had nothing but issues using this as a business checking account. No company will print checks for our account (presumably because of it being a sort of money market account), every time we've tried to place an order for checks, it gets cancelled. It's been incredibly difficult to make payments for the business. They also use a 3rd party service to verify and link external accounts without having to do trial deposits (cant remember if its Plaid or a different service). Awesome, right? Wrong! I linked my personal checking account and it was confirmed on my Grasshopper account. I initiated a transfer from my personal to the business account only for Grasshopper to say that it was returned as "No Account Found", so either the 3rd party service is useless and doesnt link the account correctly, or Grasshopper themselves can't process the link correctly. Either way, we're closing our account and moving our money to a different business checking
J
js
2 months ago
Deposits Take More than 5 business days to Access... then they quiet quit on me.
Terrible experience when trying to access funds or status of account. As a startup, Grasshopper was a mistake. Multiple 'tickets' went unanswered besides the auto-generated, 'we received your blah blah'. Calls to follow up had be 'escalated' to whomever would made final decision but they aren't available right now and we'll get back to you. I finally got through on a call to followup on 'tickets', emails, chats and was told, Yes, we received all your queries but for some reason, no one responded. Good luck
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erica hansford
4 months ago
I applied for a checking account
I applied for a checking account, told it would take a few moments. Three weeks later I call customer service, who tell me I'm no where in the system. I am able to log in so I'm not sure where the disconnect was. This is concerning that I gave personal information to open this account. No help was offered, so I'm onto another bank.
K
kevin
4 months ago
I have had a business checking account…
I have had a business checking account with Grasshopper for about 7 months now and so far have had a a great experience! The support staff has been so helpful and responsive - shout out to Gabe for being a rockstar! Everything we need in a checking account with 5 star service on top of that. Great job Grasshopper!
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michaelr thomas
4 months ago
Part of the Locked Account Club
Grasshopper ticked all the check-boxes of what I was looking for in a bank with a cherry on top, nuts and whip cream! I did read the reviews and noticed a fair amount of complaints of locked accounts due to suspicious activity, but I was like, I won't have any transactions that could possibly cause issues. LOL. So I created an account and funded with a small amount without any issues. Several weeks later, I successfully linked my personal savings account so I could get the business going. Once linked, I initiated the max I could transfer from my savings. Then after 3 or so days initiating the transfer, BAM! Locked! Glad it happened early on instead of later. I'll let them close the account then humbly crawl to a brick and mortar name-brand branch. I hope what I give up in features I gain in reliability.
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knock off krew
4 months ago
Horrible Unprofessional Business Practices
We are a new start up with an extremely clean record and we were not approved and told we could not know why due to security reasons. We have never been more offended. We have all held Wells Fargo/Wachovia/Bank of America accounts for decades. Grasshopper is not to be trusted if they will not share why they turn good hard working Americans down with out cause.
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stefen rosner
6 months ago
A Bank That Understands Business and Innovation
Grasshopper Bank is the epitome of a client-first digital bank that caters to the business and innovation economy. As a privately owned institution headquartered in New York City, they bring a fresh perspective to banking. What sets Grasshopper apart is their dedication to providing leading-edge technology, tailored products, and exceptional service. They have replaced the outdated one-size-fits-all approach with industry-specific solutions and a team of experts who truly understand the unique needs of their clients. Whether you're a small business, startup, venture capital firm, or fintech company, Grasshopper Bank has the perfect banking solutions for you.
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joe thomas
6 months ago
Unleashing the Power of Digital Banking
This Bank is a game-changer in the world of banking. Their digital-first approach and commitment to innovation make them stand out from traditional banks. From small businesses to venture capital firms, Grasshopper offers a suite of products and services tailored to specific industries. Their obsession with providing leading-edge technology ensures that customers have access to cutting-edge digital resources. What impressed me the most is their team of passionate experts who bring deep industry knowledge to the table. Grasshopper Bank has redefined banking by combining technology, tailored solutions, and superior service to empower businesses and drive innovation.
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creig
6 months ago
Banking Solutions for the Future
Grasshopper Bank is the future of banking. Their forward-thinking approach and suite of products and services reflect their commitment to staying ahead of the curve. Whether you're a startup, a fintech company, or a commercial real estate investor, Grasshopper has the solutions you need. As a client-first digital bank, they leverage leading-edge technology to deliver a seamless and efficient banking experience. Their team of experts brings industry-specific knowledge, ensuring that every customer receives personalized attention and tailored solutions. Grasshopper Bank is a beacon of innovation in the banking industry, setting the standard for the future of financial services.
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casey phillips
6 months ago
Great Experience
My experience with grasshopper has been great. Everything works efficiently and I’ve loved being able to access my funds at any time. Going fully online seemed daunting at first but now I can’t imagine doing it any other way!
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nicole h
6 months ago
Grasshopper has made it easy
Applying for an account was seamless and quick. The app is clean and easy to manage. Overall my experience has been a positive one!
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jonathan gelfand
6 months ago
Terrible service
Terrible service. Long hold times on deposits. Escalation is poor. Liked the interest, but not worth it. Stay away!
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dan
6 months ago
Great for business
I’ve been banking with Grasshopper for a while now. They have a real understanding of what a business needs. Overall a great service.
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aly
6 months ago
Helpful Service
Briana was very helpful and informative during the process to get started. The process to open a business account was quick, much faster than having to go into my local bank.
S
sarah
6 months ago
Easy account opening process and very…
Easy account opening process and very friendly client services team! Glad I switched from my community bank.
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muthu arumugam
4 months ago
Grasshopper Bank closed my startup…
Grasshopper Bank closed my startup business checking account for no reason after 3 weeks into it! I don't like these online banks. BSA team misunderstood probably because we are allowing people to play or trade with NFT. Total ignorance. Innovative ideas can't be misunderstood.
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tim boe
6 months ago
Closed account and wouldn’t return…
Closed account and wouldn’t return funds. No explaination on why they closed it 2 months after opened and using. Horrible. What a waste of time and resources.
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elizabeth addonizio
6 months ago
The website will not allow me to add a…
The website will not allow me to add a payee. This was a problem over a year ago that was fixed, and it has become a problem again. I called customer support, and they could not help. It remains a problem, and I cannot make payments from my account.
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chris
7 months ago
They closed my account!!
They closed my account because, like any small business does, I had payments made into the account from a client (Paying an invoice) and then I subsequently transferred money out to pay staff. This was considered suspicious by Grasshopper. Extremely poor, outsourced service for a bank that apparently doesn't understand how small businesses operate.
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pheobe
7 months ago
Easy to Use!
I've been impressed with how easy Grasshopper is to use. The onboarding process was quick and the online portal is very user-friendly. Definitely recommend to other business owners!
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grasshopper eater
7 months ago
Not for me but may be for you
I opened an account for my small business. After seeing the negative reviews, I immediately contacted a customer service rep. She was difficult to get a hold of as I wanted reassurance of no delays for my funds. The bank’s rep gave sketchy responses and the trustworthiness of the bank was not satisfactory or convincing. It’s hard to trust a bank with detailed financial mishandling reviews. Due to its reputation I cut my losses and parted ways with this institution. I didn’t give the institution a solid try so this bank could be a good fit for you. Just be cautious. They are quite forceful with ensuring that no bad reviews of them are online to little avail. They can report or “request more information”. You do not have to give them your PII.
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cade cothren
7 months ago
Stay far, far, far, FAR away
I read good things about Grasshopper on several sites - clearly those reviews are fake. After submitting my business information and being approved for an account, I set my ACH deposits to be sent to my new account. Less than 24 hours later, I received a notification from Grasshopper that my account was locked pending review. They asked for additional identifying information, which I submitted. They said they would contact me within 3 days with an update. After 3 days passed, I called them to inquire about where things were. The agent on the phone told me my account HAD BEEN CLOSED. They refused to tell me any information as to WHY and never sent me a notification telling me it was being closed. Absolutely pathetic bank - there's no way this is a legitimate company after reading other similar reviews. Stay far, FAR away.
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greg
7 months ago
Disorganized and unprofessional
After going back and forth with Grasshopper for more than a week, they rejected my application for a checking account, citing 'security reasons' and refusing to provide additional information. Throughout the process, the company was extremely disorganized and unprofessional. I am concerned that I have entrusted this company with personal and financial information and hope that I don't suffer any consequences for it. I highly recommend that you do not do business with this company.
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desiree guyton
7 months ago
I was kicked out for a mistake in the…
I was kicked out for a mistake in the enrollment process. They should have given me a chance to correct the information. I wasted a lot of time and received my sensitive information. Customer service should have given me a warning and an opportunity to correct the mistake.
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carl giordano
7 months ago
The speed of banking and the customer…
The speed of banking and the customer service need work. I've had a chat going with customer support since yesterday with one reply. I've also made large transfers into my account to fund my business, but it takes a very long time to complete any transaction. For example, I initiated a wire transfer in person from my personal checking over a week ago and it doesn't even show as a hold, no update, and trying to get information from customer support is impossible. I also tried to purchase a new POS system for our store and the transaction was stopped by Grasshopper. The thing that has slowed our progress the most so far has been banking with Grasshopper, unfortunately.
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me
7 months ago
Account closed with no warning
My account was closed with no warning or notification to me whatsoever. Couldn't log in (said the account didn't exist), and other banks said my deposits to the Grasshopper account wouldn't go through. Thank god I hadn't put any serious funds into the account yet. They continued to send me generic emails about their service and how great it was, though... Terrible experience. Would not recommend.
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juan vazquez
8 months ago
Deposits were taking too long
Deposits were taking too long, you could see the “partial credit” but it was not reflected to your account, and as a start up business owner it was harder for me to actually spend or invest my profits
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toni r.
8 months ago
Quick and trouble-free online banking
Quick and trouble-free online banking! Glad to be a customer!
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henry n
7 months ago
Open and closed account in 2 days
We opened our account and Grasshopper closed it two days later without an explanation. No details, no calls no emails, nothing. It's ok, we've moved on, but the entire ordeal was subpar. To be honest, it was expected when dealing with a non traditional bank, even if the initial process was easy. Overall, i couldn't recommend Grasshopper to anyone with a pulse, as their lack of customer service overshadows their product. UPDATE: 4/24/23: Thank you for your reply. It would have been nice to get a hold of someone when I needed to months ago, whatever that security reason may be, but nobody returned my emails. But, as i stated in my original review, the lack of customer service overshadowed your product.
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jason
8 months ago
Don't bother with this bank if you own a business.
Their several-day bank holds on deposits prevent business operations from running efficiently. They put 5-day holds on deposited checks, even when they are from the company's owner. I've never experienced this at any other bank, which made me end my business account with Grasshopper Bank very quickly.
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paul savage
8 months ago
A Happy Customer for over a year
Sign up was easy, just fill in a few details, share your ID and you should be good to go. In my case it took a bit longer, as my business was new, so I had to provide some more documentation. But compare with going into a branch, it was a breeze. Pros: I love the feature that you can easily give your accountant view access to your account in just a few clicks. It's a lot easier than any other bank I've worked with for that feature alone. It connects easily with QuickBooks too, my old bank wanted to charge for access! They offered interest on balances a lot sooner than other banks, many banks in 2023 have started doing this so it may be less of an important factor now. Wires / ACH's all work seamlessly, and a lot easier than than some other US banks I've used. Cons: Small peeve, weekend bank transfers can be created / scheduled, but they actually don't go through. I've left some feedback for the support team to see if they can disable the weekend feature.
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k. g.
8 months ago
Communication breakdown
It's very difficult to get ahold of customer service. I simply asked for the status of my pending account opening, and why my $100 transfer wasn't posted yet, and got very cryptic answers. (4 day hold, which hasn't been released yet, although the debit card is supposed to be on the way now). All I know about my account is that it is "un-locked," so that's good it's not "locked." I'm trying to find who you partner with for further financial offerings, but I haven't discovered a list yet on your website. Grasshopper has quite a ways to go when it comes to ease of, and clarity in, communication. This is ongoing, to this very day, hence the date below under "Date of experience," I chose, on the dropdown selection, today's date, having been further confused by your website again this very morning. I actually don't know if I can use my account for banking yet.
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bernadette mentor
8 months ago
Grasshopper provides excellent customer…
Grasshopper provides excellent customer service.
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xuesheng xu
8 months ago
Had an Issue with the Bank, but It Was then Resolved Efficiently
My account was closed and my $100 initial deposit was never refunded. I will be bring up this issue with the Federal Reserve. Update (4/20/2023): Grasshopper Bank reached out to me, and corrected the issue by assisting me getting my $100 refunded. I was actually quite surprised, and updated my review. I have to say a Thank You to Brana from Grasshopper Bank for resolving my issue.
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roderick
8 months ago
Personal banking
Banking with Grasshopper feels like personal banking.
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paul asenjo
8 months ago
Great experience
Great experience. Easy bank to work with.
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fernando corona
8 months ago
Love the dual approval for wires
I am very impressed by how user-friendly this is. I love the dual approval for wires as well as the user management. Also, there are no limits on online wires. Superb! Keep it up! I'll definitely recommend this bank to families and friends!
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laura
8 months ago
They have been helpful and the online…
They have been helpful and the online portal is super easy to use.
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kyle buckett
8 months ago
Carey Henry rocks!
Grasshopper is a wonderful bank to work with for SBA Loans. I cannot recommend enough. I would especially like to bring attention to Carey Henry, Senior SBA Loan Closer. She has been nothing short of remarkable. Has truly gone above and beyond and a shining example of caring for the customer (us). Our seller has been somewhat frustrating during this process, and the deal has changed, dealing with the lease, but Carey has been instrumental to ensure this process was done in an efficient and timely manner. She even went above and beyond to ensure our seller was communicated with through the process. Cannot recommend Grasshopper and Carey enough!
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roger
9 months ago
Disappointing and slow
My experience with Grasshopper was disappointing. They advertise that I could open an account in 5 minutes. That is not accurate. You can fill out their form in 5 minutes but it took them 4 days to actually open the account even with my 830 credit score. After 1 day they stated that my credit was frozen. That took me 5 minutes for me to fix. Three days later, after many phone calls and setting up a checking account with another institution (that took 10 minutes to activate my account) they decided to approve me. Sorry, that is not 5 minutes, so I told them not to activate the account.
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jason
10 months ago
An easy online platform…
An easy online platform for small business owners to use who want an all digital experience and no messing with the big scam banks. The initial sign up was easy and request for specific verification documents was easy enough!