NorthOne Business Checking Account Review

Account Features

All NorthOne's FDIC-insured business checking accounts can be accessed online and through the bank's mobile app. NorthOne offers a single flat-fee business checking account designed specifically for startups, freelancers and small businesses. For $10 monthly, accounts offer unlimited transactions. The only additional fee levied is $15 for outgoing and incoming domestic wire transfers. All accounts come with a free MasterCard debit card, which can be used at over 2 million ATMs worldwide for free deposits and withdrawals. Through NorthOne's mobile app, you can deposit checks for up to $75,000. Customers can set up an unlimited number of envelopes to segregate funds for different purposes. . Live support is available via mobile chat, email, or scheduled phone calls.

NorthOne offers accounts to LLC’s, C-Corps, S-Corps, partnerships, sole proprietors and freelancers. Accounts are only available to US residents.

NorthOne's business checking accounts are designed to work entirely from customers' phones or mobile devices. As such, they offer a variety of additional features that facilitate banking 100% digitally with no branch offices. 

A very useful feature of NorthOne's bank accounts is the ability to set daily spending limits on your debit card, as well as lock and unlock the card at will with the press of a button on your smartphone. Additionally, customers can edit their PINs from the phone, a process that at a normal bank usually requires assistance from representatives. 

Fees and Restrictions

NorthOne offers simple and transparent pricing. Customers pay just two fees: a monthly maintenance fee of $10 and $15 per wire transfer. The company doesn't charge overdraft or insufficient funds fees. 

Account Management and Support

Although NorthOne is a totally digital bank, the company does have multiple lines of support available. Customers can contact a representative through in-app chat. Representatives usually respond pretty quickly. NorthOne customers can also schedule phone calls with the bank's support team—a great alternative to waiting on hold. You can also communicate with the company via email.

In terms of withdrawals and deposits, customers can use the app to make mobile check deposits and withdraw cash at any one of a million US and 2 million Cirrus® ATMs worldwide. Wire transfers in and out of a NorthOne account are available for $15 per transfer 

Integrations

NorthOne has a very robust integration package that allows the bank to seamlessly work with some of the most popular accounting and bookkeeping software. These applications include Quickbooks, Wave, Freshbooks, and Xero. NorthOne also integrates with other commonly-used platforms like CashApp, Shopify, Etsy, PayPal, and more.

Reputation and Financials

Founded in 2017, NorthOne is a relatively new player in the online banking sphere. However, it has garnered over a thousand reviews on Apple’s App Store with an average rating of 4.6 stars. The Android version NorthOne's app earns 3.7 out of 5 stars. NorthOne has been featured by prominent publications such as Forbes, American Banker and The New York Times.Consumers on Trustpilot give the company 3.4 out of 5 stars and the company receives a B- rating from the Better Business Bureau.

NorthOne's actual banking services are provided by Bancorp Bank, Member FDIC. The company is not rated at this time by Moody's or Standard & Poors.