Online Banking Logo
1

Hot New Offers!

Alt Example
Visit Site
Updated on

NorthOne is a fintech company partnering with The Bancorp Bank to provide FDIC-insured business banking services. Its business checking options include NorthOne Standard (no monthly fee) and NorthOne Plus (monthly fee). NorthOne Standard offers unlimited sub-accounts (called Envelopes) to help organize funds, along with seamless integration with various business tools such as QuickBooks, Gusto, and Shopify. It’s ideal for freelancers, contractors, and small business owners who manage their finances online. However, NorthOne lacks support for international wire transfers and free ATM access, making it less suitable for businesses that deal heavily in cash or international payments.

review hero image
Alt Example
5
Visit Site
Written by:Casey Newton

Benefits

  • No Monthly Fee for NorthOne Standard
  • Unlimited Sub-Accounts (Envelopes) for organizing business finances
  • Generous Transfer Limits.

Accounts Payable Automation

NorthOne integrates with several financial and HR tools, including QuickBooks, Gusto, Shopify, and FreshBooks, enabling businesses to streamline accounts payable processes. This integration allows for syncing transaction details, automating payroll, and making bill payments directly from your NorthOne account.

Vendor Payments

NorthOne’s bill payment hub makes it easy to handle one-off or recurring invoices. NorthOne Plus offers free bill payments. The platform also supports real-time payments from platforms like PayPal, Square, and Venmo, providing faster access to funds.

Transactions

NorthOne allows unlimited transactions with no fees for ACH transfers or payments. NorthOne doesn’t support international wire transfers, and cash deposits are limited.

Safety and Security

NorthOne accounts are FDIC-insured up to $250,000 through The Bancorp Bank. The platform offers standard security features such as multi-factor authentication and encryption to safeguard your account. You can also add up to four authorized users with customized permissions, helping ensure only trusted individuals have access to your account.

Mobile App

NorthOne’s mobile app, available for iOS and Android, allows users to manage their business accounts on the go. Key features include:

  • Creating and managing sub-accounts (Envelopes)
  • Sending payments and transferring funds
  • Real-time payment processing from platforms like PayPal and Square
  • Live chat support during business hours

The app is user-friendly and ideal for freelancers and small business owners who need to manage their finances digitally.

Who Should Use This Business Checking?

NorthOne is a great option for:

  • Freelancers, contractors, and self-employed individuals who need a low-cost, online business checking account
  • Small businesses that require seamless integration with popular business tools like QuickBooks, Shopify, and Stripe
  • Businesses not reliant on cash deposits or international wire transfers 

How to Open an Account

You can open a NorthOne business checking account online or via the mobile app. Requirements include:

  • Be at least 18 years old and a U.S. citizen or legal resident
  • Basic personal information: Name, home address, mobile phone number, date of birth, and Social Security number
  • Business information: Business name, entity type, annual revenue, EIN or tax ID, physical address, and phone number
  • Required documents: Valid government ID and business-related documents such as your business license or operating agreement.


Conclusion

NorthOne offers a versatile digital banking solution for freelancers, contractors, and small business owners. It's no-fee NorthOne Standard account, integration with popular business tools, and unlimited sub-accounts make it a solid choice for those who primarily manage finances online. However, the lack of international wire transfer support and limited cash deposit options may pose challenges for cash-heavy or globally operating businesses.