Grasshopper Bank vs Bank of America Business Advantage

Two banking tools side by side. Prices are the starting plan a small business would pick, in USD.

Short version

  • Grasshopper Bank costs less for a six-person team.
  • Bank of America Business Advantage fits retail shop, restaurant or café, trades or contractor.
  • Grasshopper Bank fits agency or studio, online store.
CompareGrasshopper BankGrasshopper Bank, N.A.Bank of America Business AdvantageBank of America
In one lineChartered digital bank with free checking that pays interestBranch checking with the first year free
Starting priceFreeFrom $16/mo
Six-person team$0/mo$16/mo
PlansNo monthly fee; $100 to open; ACH and incoming wires free; outgoing wires $5 domestic, $25 international; checking earns variable interestFundamentals: $0 for 12 months, then $16/mo unless you keep a $5,000 combined average balance, spend $500/mo on the debit card, or join Preferred Rewards; Relationship: $29.95/mo or $0 with waivers
Pricing modelFreePaid
Free trial——
UsersMultiple, with approval rulesUnlimited
Both connect toQuickBooks Online
Also connects toNo others on recordXero
Team sizeJust me · 2–10 people · 11–50 peopleJust me · 2–10 people · 11–50 people
Available inUSUS
Phone supportPlans not statedPlans not stated
Live chatNone listedNone listed
Support hoursPhone: M-F 9am-9pm ETPhone: Mon–Fri 7 a.m.–11 p.m. ET; Sat 8 a.m.–8 p.m. ET
Incidents postedWe found no public status page for Grasshopper Bank, N.A..We found no public status page for Bank of America.
Trustpilot score4.1 / 5 from 471 reviewsNot listed
Fit: Retail shop5582
Fit: Restaurant or café4580
Fit: Service business8072
Fit: Agency or studio8055
Fit: Trades or contractor6075
Fit: Online store7250
Why people pick it
  • Checking that pays interest
  • A chartered bank, not a fintech layer
  • First year free
  • Large branch network
Where it falls short
  • Outgoing wires cost $10 domestic, $25 international
  • Cash deposits only at select MoneyPass ATMs
  • $16 fee after a year unless waived
  • Low interest
Visit Grasshopper Bank Visit Bank of America Business Advantage

Six-person prices are what a team of six would pay on the published plans; "Not listed" means those plans don't cover six. How we calculate prices

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