Grasshopper Bank vs Live Oak Business Savings: which one fits your business?
Side-by-side comparison of Grasshopper Bank and Live Oak Business Savings — fees, features, ease, support, and which one fits your business. Scored on the same rubric.
Short answer: Live Oak Business Savings wins on our scorecard (8/10 vs 7.8/10).
| Scored on | Grasshopper Bank | Live Oak Business Savings |
|---|---|---|
| Right fit for small biz | 7 | 9 |
| Ease of use | 8 | 8 |
| Fees & pricing | 9 | 9 |
| Customer support | 6 | 7 |
| Features | 8 | 7 |
| Monthly Maintenance Fee | $0 | $0 |
| Minimum Opening Deposit | $100 | $0 |
| Domestic Outgoing Wire | $10 | — |
| Incoming Wires | $0 | $0 |
| ACH Transfers | $0 | — |
| Minimum Balance for Interest | — | $0.01 |
| Domestic Outgoing Wires | — | $19.00 |
Grasshopper Bank in one paragraph
A powerhouse for digital businesses that want the security of a chartered bank without the fees of a national chain.
Skip it if: You handle more than $500 in physical cash monthly or need 24/7 phone support.
Live Oak Business Savings in one paragraph
A powerhouse for idle cash, offering top-tier interest rates with zero monthly maintenance fees for businesses that don't need physical branches.
Skip it if: You need to deposit physical cash daily or require complex spend management tools for a large team.
Frequently asked questions
Which is better, Grasshopper Bank or Live Oak Business Savings?
On our five-axis scorecard, Live Oak Business Savings scores higher (8/10 vs 7.8/10). A powerhouse for idle cash, offering top-tier interest rates with zero monthly maintenance fees for businesses that don't need physical branches.
Who should skip Grasshopper Bank?
You handle more than $500 in physical cash monthly or need 24/7 phone support.
Who should skip Live Oak Business Savings?
You need to deposit physical cash daily or require complex spend management tools for a large team.