North One: Is Your Business Banking on Point?
Updated April 2025
North One, a fintech platform, simplifies banking for small businesses, freelancers, and startups. Partnering with The Bancorp Bank, N.A., Member FDIC, North One insures checking accounts up to $250,000 per depositor, per ownership category. It does not accept cryptocurrency deposits but allows USD transfers to regulated exchanges via ACH/wires. Learn more at help.northone.com.
Products and Services
North One’s app (4.7/5 App Store) offers:
- Checking Accounts: Standard ($0/month) and Plus ($20/month) plans ($50 opening deposit) with no minimums or overdraft fees. Earn 2.5% APY on up to $250,000 with activity (e.g., $500/month debit card spend). Standard charges for wires ($15), same-day ACH ($2), checks ($5); Plus offers discounts. Includes unlimited transactions, mobile check deposits, and Mastercard debit cards (virtual/physical).
- Envelopes: Unlimited sub-accounts for budgeting taxes, payroll, or rent, with percentage-based or fixed allocations.
- Merchant Services: Invoicing, bill pay, and POS integrations (Stripe, Square, PayPal, Amazon, Venmo, Cash App).
- Loans/Credit Lines: Third-party loans/lines ($10,000–$250,000, 8%–36% APR) via Funding Circle, Kabbage.
- P2P Transfers: Instant internal transfers; external ACH (1–3 days, free Standard, one free same-day/month for Plus), wires ($15 Standard, free Plus).
- Integrations: QuickBooks, Xero, Wave, FreshBooks, Gusto, Shopify, Slack, PayPal, Stripe, Amazon, Venmo, Cash App.
- Cash Deposits: 90,000+ Green Dot locations ($4.95 fee, one refund/month Standard, three Plus).
- ATM Access: 2 million+ Cirrus ATMs; two surcharge refunds/month.
Target Market
North One serves U.S. small businesses, freelancers, and startups (EIN required), excluding high-risk industries (e.g., crypto exchanges, gambling).
Pros and Cons
Pros:
- Intuitive app with invoicing and budgeting (4.3/5 Trustpilot, 200+ reviews).
- Transparent fees; 2.5% APY on checking.
- Robust integrations (QuickBooks, Shopify, Stripe).
- Unlimited Envelopes for budgeting.
- Live support (Monday–Friday 8 AM–9 PM ET, weekends 9 AM–6 PM ET).
Cons:
- No savings accounts; Envelopes substitute.
- No branches; cash deposits via Green Dot ($4.95).
- No international wires/SWIFT.
- Standard plan fees for wires/checks.
- Occasional delays/freezes (mixed feedback).
Rewards Program
North One offers Perks (discounts/free trials with Gusto, Slack) and 1% cashback on select Mastercard purchases (e.g., gas, restaurants).
Marketing Niches
North One’s “Connected Bank Account” emphasizes simplicity, integrations, and concierge banking for small businesses, driven by social media and referrals.
Final Thoughts
North One’s checking accounts, Envelopes, and integrations streamline banking for small businesses, with 2.5% APY and no minimums. Limitations include no savings accounts, no international wires, and occasional delays/freezes. Its 3.9/5 Trustpilot score reflects strong UX but mixed support feedback. Explore at northone.com.
