Grasshopper

Grasshopper Bank is a chartered national bank and holds deposits itself, with an opt-in deposit placement account available for cover above the statutory limit. It has no branches and runs the account entirely online.

There is one small business product and one price. It carries no monthly fee and no ongoing minimum balance, though it does require an opening deposit, which is unusual among the free accounts here, and it holds that initial funding for several business days. Its published fee schedule prices wires, returns and expedited cards, and marks ACH, including same-day ACH, complimentary.

Interest is paid on the checking balance on a banded ladder that rises and then falls back at the top band, so the rate a business earns depends on where its balance actually sits. A linked money market savings account carries its own separate ladder. Note that Grasshopper runs a second checking product for startup and venture-backed companies, with its own separately published fee schedule, which is a different account from this one.