Offer value details
Grasshopper describes Innovator Business Checking as a digital business checking account with up to 1.35% APY, 1% debit cash back, unlimited transactions, online and mobile banking, digital invoicing, virtual debit cards, ACH, wires, and user-management tools.
Qualification requirements
Grasshopper lists a $100 minimum opening deposit. The product-selection page lists checking APY tiers by balance, and the cash-back terms require a $10,000 or greater average account balance for the calendar month, good standing, active use of Grasshopper digital banking, and qualified signature-based debit-card purchases.
Fees and costs
The fee schedule lists a complimentary monthly maintenance fee, complimentary domestic incoming wires, domestic outgoing wires at $10, international incoming wires at $5, international outgoing wires at $25, instant transfers at 0.65% with $1 minimum and $10 maximum, debit-card replacement at $5, expedited debit-card delivery at $35, and dormant accounts at $5 per month. Cash deposits are not offered.
Availability
Grasshopper's opening guide says applicants must be at least 18, a U.S. citizen or permanent resident, and have a verifiable physical address in one of the 50 states or DC. U.S. territories, foreign businesses, registered-agent addresses, cash-intensive businesses, cannabis, gambling, adult entertainment, digital-currency or money-services businesses, and other restricted categories are not eligible.
What to verify
- APY is variable and can change after account opening.
- The highest reviewed checking APY tier starts at $25,000 and cash back requires a $10,000 average monthly balance.
- Cash-back exclusions include PIN transactions, ATM transactions, fees, cash withdrawals, cash over purchases, mobile wallet and bill-payment transactions, ACH or cash equivalents, peer-to-peer payments, and tax payments.
- The fee schedule and product-page footnotes should be checked before sending wires because fee wording can differ by source surface.
- Cash deposits are not offered, and business type, location, documents, and Grasshopper review can affect approval.
Confirm current provider terms
Rates, rewards, fees, qualification rules, eligibility, and deadlines can change. Review the provider terms before applying.