NorthOne Online Business Banking Review 2021

As a small business owner, it can be a challenge to find a bank that is designed with your needs in mind. You want to set up your account and allow it to run in the background without racking up extra fees along the way.

This is especially true if you run a business that involves dozens of bank transactions each month. After all, you don’t want to be nickel and dimed each and every time you handle a business transaction.

Luckily, NorthOne Bank offers online business banking solutions that were designed with you in mind. Let’s that a closer look at what NorthOne Business Banking has to offer. 

NorthOne was founded in 2017 with the goal of providing better banking solutions for small business owners of all kinds. Throughout the first year of the bank, the team interviewed thousands of small business owners to pinpoint exactly what was needed.

With that detailed information, NorthOne built an online bank experience that is designed to help small business owners, freelancers, and startups manage their banking needs efficiently. And the intention of the bank’s founders shines through its wide selection of features that are genuinely helpful to small business owners everywhere. 

NorthOne offers a deposit account to small business owners. Here’s how this offering stands apart from the crowd. 

Any small business owner knows that transaction fees can quickly eat into your bottom line (and some banks have super-low limits on transactions before you pay). Although it can be hard to get away from these pesky transaction fees at big banks, you won’t have to deal with any transaction fees with NorthOne.

That’s right, you can make payments, deposits, transfers, and purchases with your debit card without any fees. Plus, you won’t be charged for any ACH payments or mobile check deposits. All in all, you’ll be able to avoid a wide minefield of fees that you’d normally have to navigate at a traditional bank.

NorthOne gives you the power to seamlessly manage your business bank account online. You won’t have to check in with a physical branch to handle anything. Instead, you can pull out your phone and tackle banking tasks quickly.

Need physical cash to run your business? You’ll be able to withdraw and withdraw cash at over 300,000 fee-free ATMs across the nation. That can come in handy. 

If you already have an accounting system or important business tool in place, you can likely connect it to NorthOne. You’ll be able to integrate your NorthOne bank account with payroll tools and accounting software like PayPal, Gusto, Expensify, Xero, Etsy, Stripe, QuickBooks, Wave, Shopify, and more.

You can manage and pay your invoices directly from your NorthOne account. Not only that, but you’ll also be able to take advantage of a sub-account system that will help you budget for big expenses.

For example, you could have a sub-account for your material costs which you can use to cover the appropriate invoices as they come in. 

Related: 5 Best Business Budgeting Systems And Tools

If you work with NorthOne, you’ll encounter one major fee. The monthly account fee is $10.

Although there are cheaper options out there, you should consider the fact that you won’t be dealing with any other transaction fees that could run up the total cost of other available options. Additionally, you’ll have to pay $15 for any domestic wires that you send or receive. 

If you need to get in contact with NorthOne, you will need to make a phone call to 332-205-9253 or email support@northone.com. Additionally, you can take advantage of the chatbox on the NorthOne website.

Although the company operates four offices, there are no physical bank locations to work with an in-person customer service representative. 

If you’re looking for a business banking experience, NorthOne isn’t the only game in town. You can find other business banking experiences that provide a stellar experience without any monthly fees.

For example, Novo offers a business checking account without any monthly fees. Plus, Novo provides the option to send and manage invoices.

Another worthy competitor is Radius Bank’s Tailored Checking account. You may still run into a monthly fee. But this account provides cash back opportunities. Plus, the monthly fee is waived  if you meet certain requirements. Check out this quick comparison here:

Want to move forward with NorthOne? You can start by heading to their website. Next, select the “Apply for an Account” button in the upper-righthand corner.

At that point, you’ll be asked a short series of questions. Depending on how quickly you answer the questions, it should take you less than three minutes to run through the questions. Once you submit the application and are approved, you will be able to fund your account.

And if you sign up with our link, you’ll enjoy one month free. Get started here >>>

NorthOne provides FDIC insurance on its deposit accounts. With that, your funds will be provided for at least $250,000. Additionally, NorthOne uses TouchID and Face ID to help you keep your account secure. 

As a small business owner myself, I think that the banking experience offered by NorthOne is valuable. You’ll be able to manage your business funds on the go without dealing with a mountain of fees that can add up quickly. Instead, you can set up a monthly budget for your business and be able to stick to that plan.

Additionally, most will appreciate the digital tools built into the NorthOne banking experience. You’ll find these useful while running your small business with limited time available. However, there are other business bank accounts out there. If you don’t think that NorthOne is a good fit for your situation, then don’t force it. Check out other great business banking solutions here >>>