Grasshopper Bank Business

I don’t feel confident working with Grasshopper Bank. I initially contacted client services regarding an account error that needed correction, as well as a request for a bank letter. I was advised that the turnaround time would be approximately 24 hours, however it has now been 9 days without resolution. Additionally, the representative I spoke with did not submit the ticket or send the email she offered, which required me to call back and repeat the entire process. Unfortunately, my follow-up interactions have consisted largely of scripted responses rather than meaningful updates or progress toward resolving a simple issue.

I’m a small business owner and didn’t want to pay a lot of money for incoming wires and outgoing wires and ACH transfers. Love that there isn’t a cost for incoming wires nor ACH and outgoing wires is only $10! Heads up though that bounced wires are $45 each time it bounced which I learned the hard way lol also love the dual approval feature! I can also add team members to have view access too

Grasshopper offers a collection of features that not many other banks do. Automated book keeping through auto books integration, high yield checking account (1.5% currently) great customer service, invoicing, and lending options such as SBA. Unfortunately, the amount of time it takes deposited funds to clear is a bit lengthy (About a week). I also had a problem when initially applying where my application got “canceled in error” twice. Also, when transferring money from my personal bank account, I was notified in app that if I login to my personal bank with my credentials via plaid, I would have instant access to the transferred money. However, a transfer hold was still put on it and it won’t be available for a week.