When you started dreaming of running your own business, you probably fantasized about operating your store, interacting with your customers, or providing excellent service by doing whatever you do best. Managing finances is not the part of business ownership that most people enjoy.
Fortunately, there’s a way to spend less time on your money management and more time running your business. It all comes down to banking with NorthOne.
NorthOne is an online banking service offering a deposit account exclusively built for small businesses. It allows you to manage your money quickly and efficiently without entering a bank branch. True to its slogan, NorthOne is business banking made for America.
- Almost entirely fee-free
- Access to over 1 million ATMs for withdrawal and 90,000 for deposits
- Deposit cash using retail GreenDot locations
- Integrations with Quickbooks, Stripe, Shopify, and more.
- Segment and organize money using virtual envelopes
- Customer support via email, chat, or phone.
- $10 monthly fee that cannot be waived.
- Minimum opening deposit, albeit a low one
- Cash deposit limits are low
- Fee for cash deposits
- No support for multiple unique accounts
- Minimum to open: $50
- Minimum daily balance: $0
- ATM Fees: $0 (in-network)
- Insufficient funds: $27
- Transaction fees: none
- Incoming wires: $0
- Incoming & outgoing ACH: $0
- Stop payments: $0
- Cash deposit fee: $4.95
- Cash deposit limit of $1,500/day, $3,000/week, $5,000/month
Who Benefits Most from NorthOne?
NorthOne is an exceptional choice for anyone who operates a small or independent business. They cater to small e-commerce retailers, Etsy sellers, Amazon sellers, startups, freelancers, independent retailers, and other small business operators. NorthOne’s features, policies, and integrations are designed to meet small business needs.
What NorthOne Has to Offer for Small Businesses
What makes NorthOne such a popular choice for small businesses, and what does it have to offer you? Several exceptional benefits come from a NorthOne online deposit account.
Essential Banking Features
A NorthOne deposit account has all the features you could want in a bank account, so you can use it the same way you would use an account at a brick-and-mortar bank. That includes direct deposit, mobile check deposits, ACH payments, wire transfers, cash withdrawals, online bill pay, etc. The only thing missing is a physical bank branch; waiting in that long line isn’t something you’ll miss in your routine.
Who has time to hop back and forth between various tools, resources, and apps to manage their money? Small business owners certainly don’t. NorthOne knows, and that’s why it combines all your financial and banking needs in one place. All you need is one login to keep your funds on track.
Because NorthOne is all about supporting small businesses, your account comes with the essential features businesses need. NorthOne offers features like receipt tracking to keep your documentation together, purchase categorization to watch where your funds are going, and ACH and wire transfers to quickly and securely pay your suppliers and make other payments.
One unique small business feature NorthOne provides is a budgeting envelope system. Within one bank account, you can set up “envelopes” to set aside money for specific purposes like payroll, taxes, insurance, etc. This helps you save for anything you may need to grow your business and help it thrive.
There are enough expenses associated with running a small business. Keeping track of your money shouldn’t take a chunk of that money. NorthOne is priced competitively to help startups and established small businesses alike. Pay one low price every month without hidden fees or surprises.
Small business banking is far different from personal banking and corporate banking. You need a banking solution that understands you and your needs. That’s the benefit of NorthOne: they exclusively offer small business banking, so they know what small businesses need from their deposit account.
Most small business owners use several tools to manage and document their finances, like bookkeeping software, POS systems, or payment processing software. It can take hours to record which invoices have been paid, track and transfer incoming funds, etc.
NorthOne easily integrates with many of these crucial tools, including Square, PayPal, Shopify, Amazon, Stripe, Quickbooks, and more, to make this easier. You’ll be able to receive money in your account quickly while efficiently managing your funds.
Security is a critical concern for anyone’s finances, but that is especially true for small business owners whose livelihood depends on their business staying strong. NorthOne provides a secure platform for your money management, with TouchID or FaceID access to ensure that only you can access your account. NorthOne is also insured with the FDIC, so you can feel confident that your hard-earned dollars are safe.
As convenient and secure as digital banking is, there will be times when you need cold, hard cash. A common misconception is that digital banking takes away your ability to operate with cash, but the opposite is true. NorthOne is a Cirrus network of ATMs members, with over two million ATMs available for your use.
You aren’t left in the lurch when depositing cash, either. NorthOne accepts cash deposits at over 90,000 Greendot locations.
One of the most common complaints people have about their banks is the excessive nickel-and-dime fees for unnecessary issues. This is especially true for small businesses. Did you know some large banks even charge excess transaction fees and cash handling fees?
NorthOne is known for cutting out these unnecessary fees. It doesn’t charge overdraft fees, insufficient funds (or NSF), deposit, transfer, ACH payment, or app integration fees. This makes NorthOne easier on your wallet and more straightforward to budget for predictably.
Choosing NorthOne for Your Small Business Banking
Online banking has been the answer for countless Americans in this digital age, but you need a platform that has explicitly the features and tools your small business needs. NorthOne is built for small businesses and small businesses alone. Whether you’re in the business of e-commerce, freelance work, or any number of other ventures, NorthOne has the low pricing, integrations, features, and convenience you need. Learn more about a NorthOne deposit account and apply online today.
We ensure our product and service reviews remain unbiased through a set of rules and guidelines we follow. We paid for many of the products we’ve reviewed. We may earn commission through affiliate links in these reviews, which helps fund our independent testing efforts. Learn more about our review guidelines and affiliate link policies. As an Amazon Associate, The Seller Journal earns from qualifying purchases.