Grasshopper business checking: what it really earns and costs
Grasshopper business checking charges no monthly maintenance fee and pays interest on every balance, but the extras come with conditions. The 1% cash back needs a $10,000 average balance and signature-based purchases, and outgoing domestic wires are free only at a $25,000 average balance. The calculator below applies those rules to your numbers.
SwitchWize has a partnership with Grasshopper Bank through an affiliate network, so we may be compensated if you open an account through links on this page. That does not change what the calculator shows or how we describe the terms.
Who this fits, and who should look elsewhere
It fits when
- You keep $10,000 or more in checking all month and pay suppliers by debit card, so the cash back can actually be earned.
- You keep $25,000 or more on average and send domestic wires, so wires stay free.
- You want some interest on operating cash without a monthly fee.
Look elsewhere when
- Your balance usually sits under $10,000: the interest is 1.00% and there is no cash back.
- Most of your spending is recurring online subscriptions, which may not count as signature-based purchases.
- You expect to hold more than $250,000 in checking: the rate drops to 1.00% above that line, and Grasshopper does not say whether the lower rate then applies to the whole balance.
- You need a rate you can rely on today: Grasshopper dates this rate disclosure 11/03/2025, so confirm it with the bank before you decide.
What you would actually earn
Enter your own numbers. The calculator applies the tiers, the cash back and wire conditions, and the fees exactly as Grasshopper states them.
Estimated value per year
$813 to $900
A range, because Grasshopper does not say whether a tier rate applies to the whole balance or only the dollars in that tier.
- +$452.50 to +$540.00
Interest
Tiered APY at $40,000.00; shown as a range because the tier method is unconfirmed.
- +$360.00
Cash back
1.00% on $36,000.00 of qualifying purchases a year.
- $0.00
Outgoing domestic wires
Free at this average balance.
- $0.00
Monthly maintenance fee
No monthly maintenance fee.
What has to be true
Met: Maintain an average balance of $10,000 or more within the calendar month.
Met: The account must be open, active and in good standing, meaning no NSF (non-sufficient funds) items in the preceding twelve calendar months. Grasshopper may change its definition of good standing.
Met: Only signature-based debit purchases count (choose "credit" at the terminal). Online subscription payments may not count. Returns, cash and cash-like purchases, gift cards, crypto, peer-to-peer payments and loan payments never count.
Met: Outgoing domestic wires are free only with an average monthly balance of $25,000 or more.
The bank does not say whether a tier rate applies to the whole balance or only to the dollars in that tier. The checking wording says each rate "applies to balances of" a band. Grasshopper states the whole-balance rule only for savings. If checking works the same way, a balance of $250,000.01 earns less in total than $250,000.
The bank dates its rate disclosure 2025-11-03, 342 days ago. Rates may have changed.
How this is calculated
- Balance is assumed steady across the year.
- 60% of debit purchases count as qualifying (the bank counts signature-based purchases only, and excludes cash-like purchases and returns).
- This is an estimate from terms Grasshopper published, not a quote or a guarantee. Rates can change after you open the account, and fees may reduce earnings.
The terms, with the quote each came from
| Term | What Grasshopper states |
|---|---|
| Interest (APY) | Under $25,000: 1.00%; $25,000 to $250,000: 1.35%; Above $250,000: 1.00% The bank dates this disclosure 2025-11-03. Rates may change after you open the account, and fees may reduce earnings. Source quote3. Accelerator Checking Annual Percentage Yield (APY) is accurate as of 11/03/2025. The minimum amount to open an account is $100.00. Rate tiers are as follows: 1.00% APY applies to balances of $0.01—$24,999.99. 1.35% APY applies to balances of $25,000-$250,000. 1.00% APY applies to balances of $250,000.01 and above. Rates may change after the account is opened. Fees may reduce earnings. |
| Monthly maintenance fee | $0 Source quotePlus, unlimited fee-free transactions, free ACH & domestic wires, and no monthly fees. |
| Minimum to open | $100 Source quote3. Accelerator Checking Annual Percentage Yield (APY) is accurate as of 11/03/2025. The minimum amount to open an account is $100.00. Rate tiers are as follows: 1.00% APY applies to balances of $0.01—$24,999.99. 1.35% APY applies to balances of $25,000-$250,000. 1.00% APY applies to balances of $250,000.01 and above. Rates may change after the account is opened. Fees may reduce earnings. |
| Debit card cash back | 1.00%, with conditions Needs a $10,000 average monthly balance, good standing and signature-based purchases. See "What has to be true" below. Source quote5. Cash Back rewards offer 1.00% cash-back on all Qualified Purchases made by eligible Accelerator Checking account holders. ... Clients are required to maintain an average balance of $10,000 or more within the calendar month in their Innovator Business Checking account and the account must remain open, active, and in good standing to participate in the program, meaning: No NSF (non-sufficient funds) items during the preceding twelve calendar months. |
| Outgoing domestic wires | $10 each, free with a $25,000 average monthly balance Source quote4. Free outgoing domestic wire transfers are available for Accelerator Checking and Accelerator Savings accounts that maintain an average monthly balance of $25,000 or more. If the required minimum monthly balance is not maintained, applicable outgoing domestic wire fees will apply. The fee for outgoing domestic wire transfers for an Accelerator Checking and Accelerator Money Market Savings Account is $10. |
| FDIC insurance | Insured up to $250,000; extended coverage up to $125 million described, subject to change The extended-coverage network is not named on the page. Ask which accounts it covers. Source quotewhere funds are FDIC-insured up to $250,000 and you can access extended coverage up to $125 million. ... your deposits are protected up to $125 million instead of the standard limit of $250,000, subject to change at any time by Grasshopper. Terms and restrictions apply. |
What has to be true
Maintain an average balance of $10,000 or more within the calendar month.
If not: No cash back for a month when the average balance is below $10,000.
The account must be open, active and in good standing, meaning no NSF (non-sufficient funds) items in the preceding twelve calendar months. Grasshopper may change its definition of good standing.
If not: No cash back if there was an NSF item in the last twelve months.
Only signature-based debit purchases count (choose "credit" at the terminal). Online subscription payments may not count. Returns, cash and cash-like purchases, gift cards, crypto, peer-to-peer payments and loan payments never count.
If not: Purchases that do not count earn no cash back.
If you or the bank closes the account before the end of the statement cycle, you forfeit rewards accrued that cycle.
If not: Rewards for a partial final cycle are lost.
Outgoing domestic wires are free only with an average monthly balance of $25,000 or more.
If not: A $10 fee applies to each outgoing domestic wire when the average monthly balance is below $25,000.
Where your money sits
Deposits are held at Grasshopper Bank, N.A., a directly chartered bank that states it is a Member FDIC, with insurance up to $250,000 per the standard limit.
Grasshopper also describes extended coverage up to $125 million through a network of FDIC-insured banks. It says this is subject to change at any time, and the page does not name the network. Ask the bank which of your accounts it covers and what the placement terms are before you rely on it.
Go to Grasshopper
How these terms have changed
Every figure on this page is tied to a quote. We re-read the bank's page and check that each quote is still there. If one is missing, the page flags it for review instead of quietly showing a stale number.
- 2026-10-08First read
We recorded the terms shown above from the bank's own page. The bank dates its rate disclosure 2025-11-03.
No re-checks are recorded yet. The first one will appear here.
Questions people ask
How much interest does Grasshopper business checking pay?
Grasshopper lists three tiers: 1.00% APY on balances from $0.01 to $24,999.99, 1.35% APY from $25,000 to $250,000, and 1.00% APY from $250,000.01 up. The bank dates this disclosure 11/03/2025 and says rates may change after you open the account. It does not say whether each rate applies to the whole balance or only to the dollars inside that tier, so our calculator shows a range.
Does the 1% cash back apply to all my spending?
No. Grasshopper pays 1.00% cash back on qualified purchases only. You need an average balance of $10,000 or more within the calendar month and no NSF items in the preceding twelve calendar months. Only signature-based debit purchases count (choose "credit" at the terminal), online subscription payments may not count, and returns, cash and cash equivalents, gift cards, crypto and peer-to-peer payments never count. Closing the account before the statement cycle ends forfeits that cycle's rewards.
Are wires free?
Outgoing domestic wires are free only for accounts that keep an average monthly balance of $25,000 or more. Below that, Grasshopper charges $10 per outgoing domestic wire. The bank's page also describes free ACH and domestic wires in general terms, so read the fee schedule for your case.
Is the account called Innovator or Accelerator?
Both names appear. Grasshopper's startup banking page headlines the account as Accelerator Checking, while its cash back terms and its partner program call it Innovator Business Checking. We treat them as the same account and say so wherever the name matters.
Is my money FDIC insured?
Grasshopper Bank, N.A. is a Member FDIC bank, and the page says funds are insured up to $250,000. It also describes extended coverage up to $125 million through a network of FDIC-insured banks, subject to change at any time by Grasshopper. The network is not named, so ask which of your accounts it covers before you rely on it.
Keep reading
How we built this page: every figure was read from Grasshopper's own pages and is shown with the exact quote and the date the bank puts on it. Some figures are partner materials, which are labeled where used. This is an estimate, not a quote, and not financial advice. Rates are variable and can change after you open an account.