Grasshopper Innovator Business Checking Review

Interest-bearing business checking at a national bank, with no monthly fee after a $100 opening deposit and 1% cash back at a $10,000 balance.

By Michael Hewitt, Founder & Editor-in-Chief.

Our verdict

Grasshopper is a national bank (FDIC certificate 59113) with no monthly or overdraft fees after a $100 opening deposit. Its checking pays up to 1.35% APY, and only on balances of $25,000 to $250,000; below that it pays 1.00%, and the 3.00% in its headline belongs to a separate money market savings account. The 1% cash back needs a $10,000 average monthly balance. Its page dates the checking rate November 3, 2025.

Skip it if you keep under $10,000 in the account, need Zelle or branch deposits, or run a business in one of its excluded industries.

About Grasshopper Innovator Business Checking

Interest-bearing business checking at a national bank, with no monthly fee after a $100 opening deposit and 1% cash back at a $10,000 balance. Grasshopper Innovator Business Checking is offered by Grasshopper Bank, N.A. We could not find a published customer rating for it on Trustpilot or the Better Business Bureau, so none is shown.

Best for: Small businesses that keep $10,000 or more on hand and want interest and cash back.

Editorial grade: B (composite score 76/100).

Highlights

Pays 1.35% APY on balances of $25,000 to $250,000 and 1.00% below and above that range (Grasshopper: "accurate as of 11/03/2025" on its product page and "current as of 01/05/2026" on its rate sheet)
No monthly maintenance, overdraft or minimum-balance fees once the account is open; free ACH and incoming domestic wires. Its product page lists $5 for an outgoing domestic wire while its fee schedule lists $10
1% cash back on signature-based debit purchases needs an average monthly balance of $10,000 or more and no NSF items in the past 12 calendar months

What we like

A chartered national bank (Grasshopper Bank, N.A., FDIC certificate 59113) rather than a fintech partnership
Fee-free withdrawals at 37,000+ MoneyPass and 8,500+ SUM ATMs, by Grasshopper's count
Unlimited mobile check deposits at no charge, and cash deposits at select MoneyPass ATMs
An optional ICS Deposit sweep for up to $125 million of FDIC coverage, subject to its terms

Where it falls short

The 3.00% APY in Grasshopper's headline belongs to a separate Innovator Money Market Savings account on balances of $25,000 or more; checking pays up to 1.35%
The cash back needs a $10,000 average monthly balance and a clean 12 months with no returned items, and the value may be reported to the IRS as income
No Zelle, no branch deposits and no cash deposits except at select MoneyPass ATMs

Fees, minimums, and rates

Monthly fee: $0/month. Minimum to open: $100. Current APY: Up to 1.35%. Rates and promotional offers change often, so check the provider's own page before you apply.

How we reviewed it

This is a desk review: we have not opened an account with Grasshopper Bank, N.A.. It is built from Grasshopper Bank, N.A.'s published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the Business Checking shortlist. Our bank-account reviews weight APY (30%), fees (20%), access and convenience (15%), account features (15%), trust and safety (10%), and customer support (10%). The rubric is the same for every brand.

The bank behind this account

Grasshopper Bank, FDIC certificate 59113: capital, loan quality, every office and the complaint record.

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Read our full editorial methodology for how we review products.