Grasshopper, the digital bank focused on the business and innovation economy, has launched Accelerator Checking, an operating account and partnership ecosystem designed for startups. The new offering includes a modern operating account, cash management tools, and access to essential business solutions, all through an FDIC-insured bank.
With Accelerator Checking, startups can open a digital account in just five minutes from any device. They will also receive physical and virtual Visa rewards debit cards that earn unlimited 1% cash back on online and signature-based purchases. The account offers free bill pay, check deposit services, digital invoicing tools, and free domestic ACH and wire transfers when maintaining a balance of $25,000 or more. Additionally, international USD and foreign exchange wire transfers are available.
Grasshopper has also integrated with financial data management tools like Autobooks, QuickBooks, and Plaid. Clients have access to multi-million dollar FDIC insurance without the need for multiple bank relationships. Grasshopper believes in a partnership approach to help its clients achieve their goals.
In addition to the Accelerator Checking account and digital tools, clients will have exclusive access to a curated community of partners through the bank’s marketplace and investor network. These partners offer additional benefits such as Ramp corporate cards, non-dilutive growth financing, cloud-based communication services, fundraising support through connections with venture capital and private equity firms, APIs for embedding finance functionality, and special discounts on startup business insurance.
Accelerator Checking complements Grasshopper’s existing startup offerings. The bank’s API-powered platform provides fintech clients with instant account opening, personalized digital invoices, debit card requests, cash flow management, balance monitoring, and more. Grasshopper aims to support the innovation economy, with a focus on venture-backed companies that play an essential role in driving innovation forward.
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