Grasshopper
Chartered digital bank for startups + SMBs.
- Who holds it
- The company itself — it holds a full banking licence — National bank charter (de novo 2019).
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from Grasshopper’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · SMB & startups |
| HQ | New York, US |
| Founded | 2019 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | National bank charter (de novo 2019) |
| Card | Visa · Business debit |
| Cashback | 1% |
| Yield | Competitive APY |
| Stablecoins | No |
| KYC | Yes |
| Active regions | North America |
Verified links: official site ↗
Common questions about Grasshopper
What is Grasshopper?
Grasshopper is a fiat neobank built for SMB & startups, headquartered in New York, US and founded in 2019. Your money is held custodially, so Grasshopper or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (National bank charter (de novo 2019)).
Does Grasshopper have a card, and where can you use it?
It issues a Visa business debit card. It is available in North America.
Does Grasshopper require KYC?
Yes. Grasshopper requires identity verification (KYC) to open an account, as a licensed bank.
What does Grasshopper cost?
From the verified fields: cashback 1%; yield Competitive APY. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Grasshopper before relying on them.
Head-to-head
Grasshopper vs NorthOne · Grasshopper vs Rho · Grasshopper vs Always.bank
Peers
Chime · Wise · Varo · Current · SoFi · Ally Bank
Grasshopper appears in
Neobanks that hold their own banking license (132) · Neobanks available in North America (126) · Neobanks for small businesses and startups (33) · Neobanks that issue a Visa card (182) · Neobanks in United States (66)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.