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 (8.3/10 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 | 10 |
| Customer support | 6 | 7 |
| Features | 8 | 7 |
| Monthly Maintenance Fee | $0 | $0 |
| Minimum Opening Deposit | $0 | $0 |
| Domestic Outgoing Wire | $25 | — |
| ACH Transfers | $0 | $0 |
| Debit Card Cash Back | 1% (Terms apply) | — |
| Stop Payment Fee | — | $25 |
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.
Live Oak Business Savings in one paragraph
Live Oak Business Savings is the premier 'set-it-and-forget-it' vault for small business owners who want top-tier interest rates without the complexity of fintech apps or the fees of big banks.
Skip it if: You need to deposit physical cash regularly or require a debit card for immediate spending from your savings.
Frequently asked questions
Which is better, Grasshopper Bank or Live Oak Business Savings?
On our five-axis scorecard, Live Oak Business Savings scores higher (8.3/10 vs 7.8/10). Live Oak Business Savings is the premier 'set-it-and-forget-it' vault for small business owners who want top-tier interest rates without the complexity of fintech apps or the fees of big banks.
Who should skip Grasshopper Bank?
You regularly need to deposit physical cash or require 24/7 phone support for your banking.
Who should skip Live Oak Business Savings?
You need to deposit physical cash regularly or require a debit card for immediate spending from your savings.