Bank of America Business Advantage vs Grasshopper Bank: which one fits your business?
Side-by-side comparison of Bank of America Business Advantage and Grasshopper Bank — fees, features, ease, support, and which one fits your business. Scored on the same rubric.
Short answer: Grasshopper Bank wins on our scorecard (7.8/10 vs 7.3/10).
| Scored on | Bank of America Business Advantage | Grasshopper Bank |
|---|---|---|
| Right fit for small biz | 8 | 7 |
| Ease of use | 7 | 8 |
| Fees & pricing | 7 | 9 |
| Customer support | 6 | 6 |
| Features | 8 | 8 |
| Monthly fee (Fundamentals) | $16 (waivable) | — |
| Monthly fee (Relationship) | $29.95 (waivable) | — |
| ACH Transfers | $0 | $0 |
| Cash Deposit Limit | Up to $20,000 free | — |
| Domestic Wire (Incoming) | $0 - $15 | — |
| Monthly Maintenance Fee | — | $0 |
| Minimum Opening Deposit | — | $0 |
| Domestic Outgoing Wire | — | $25 |
| Debit Card Cash Back | — | 1% (Terms apply) |
Bank of America Business Advantage in one paragraph
A powerhouse for businesses with $20k+ in cash who can leverage the credit card rewards stack, but a fee-heavy burden for micro-entities.
Skip it if: You cannot consistently maintain at least a $5,000 average daily balance.
Grasshopper Bank in one paragraph
A top-tier choice for digital businesses that want to earn 1% cash back on daily spending without the hassle of a credit card application.
Skip it if: You regularly need to deposit physical cash or require 24/7 phone support for your banking.
Frequently asked questions
Which is better, Bank of America Business Advantage or Grasshopper Bank?
On our five-axis scorecard, Grasshopper Bank scores higher (7.8/10 vs 7.3/10). A top-tier choice for digital businesses that want to earn 1% cash back on daily spending without the hassle of a credit card application.
Who should skip Bank of America Business Advantage?
You cannot consistently maintain at least a $5,000 average daily balance.
Who should skip Grasshopper Bank?
You regularly need to deposit physical cash or require 24/7 phone support for your banking.