North One Business Banking Review 2024

NorthOne Bank Review image - 4.2/5

Disclaimer: North One is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank, Member FDIC.

Entrepreneurs looking for a banking service with simple eligibility requirements may find their perfect fit with North One. The company boasts minimal eligibility criteria making it ideal for new businesses looking to avoid high deposit or minimum balance requirements.  

North One offers a convenient, affordable solution for startup banking that most entrepreneurs will appreciate. The company offers two banking plans ranging from $0 to $20 per month as well as some incurred fees for domestic wires and physical checks. Additionally, North One customers benefit from an extensive number of included features, integrations, and discounts from North One’s partners.

North One — Your Digital Financial Compass

Check out North One’s online digital banking and money management platform.

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North One Eligibility Requirements

North One is easy enough to get an account with. You just need to meet the standard minimum requirements that most banks have for account holders:

  • Must be 18 years old
  • Must be a US citizen or legal resident living in one of the 50 states or Washington D.C.
  • Must have a verifiable US street address (i.e., not a P.O. box)
  • Must have a valid government ID 
  • Must provide an employer identification number (EIN) or social security number (SSN)
  • Must provide a business license or permit 
  • Must provide business formation documents such as Articles of Organization

Pros and Cons of North One


  • Free plan available 
  • Deposits are FDIC insured up to $250,000
  • Real time sync with Quickbooks included with all accounts 
  • Bill pay, expense management, and other digital banking tools
  • Ability to create Envelopes (sub-accounts) for budgeting purposes
  • Access to perks such as discounts, free trials, and offers from partner platforms


  • Free physical checks and same day ACH payments only available with paid plan
  • Receiving domestic wires costs $20 per wire 
  • No ability to send or receive international wires
  • Debit cards available only for the startup’s co-owners

Simplify Your Financial Ecosystem With North One

North One is best for small businesses that need a high number of fintech integrations.

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North One Pricing and Features

North One offers two plan options: North One Standard ($0/month) and North One Plus ($20/month). While there are a few additional features included with the North One Plus plan, the biggest benefit is the decreased fees. 

With the free North One Standard plan, users pay 1.5% for same day ACH payments, $1 for physical checks, and $20 per domestic wire for both sending and receiving. Alternatively, users that opt for the North One Plus plan are charged fees for same day ACH payments or physical checks and domestic wire sends are $15 rather than $20.

Rewards and Benefits

  • Free included bill pay features on all plans 
  • Included features for easy budgeting 
  • Discounts and special offers from partner platforms 
  • Integrates with business tools like QuickBooks, Shopify, and Gusto

Interest Rates

  • Checking accounts do not earn interest


  • North One Standard plan fee: $0 per month
    • Physical checks: $1 per check 
    • Domestic wire send: $20 per wire 
    • Domestic wire receive: $20 per wire
  • North One Plus plan fee: $20 per month
    • Domestic wire send: $15 per wire 
    • Domestic wire receive: $20 per wire 

For startups looking for a banking solution with robust integrations as well as extensive discounts and offers on partner services, North One is a strong option. Their free plan does incur fees for common banking activities, however, making this a potentially less suitable option for businesses that send and receive an extensive amount of domestic wires.

Customer Reviews

North One has nearly 200 reviews on Trustpilot, earning them 4.3 out of five stars. Many reviewers praised the company’s customer service and straightforward process to open and manage a bank account. Negative reviews cited slow account closures and delays for basic banking services. 

Here are some verified customer reviews from Trustpilot by people who use North One Bank:

“Great solution for businesses with multiple offices, it’s simple & easy to use and has lots of great tools. The transition was quick & simple & customer service is very helpful.”

“I’m so glad I made the switch to NorthOne! Their platform is very user-friendly, and they provide so many great tools I’m able to use daily for my business. NorthOne has a great customer service team who are very [helpful], and communicative.” 

“As a first-time small business owner, the straightforward, helpful solutions that were all in one place made a huge difference for me to be able to [free] up time to focus on my strengths which are sales and customer experience. Thanks!”

North One Alternatives

With so many banking solutions available to startups, it is important to see how a service measures up to the competition before opening your business bank account. Here’s how North One compares to popular banking platforms Mercury, Lili, and Relay.

North One vs. Mercury 

North One and Mercury both offer feature-rich banking solutions for startups and small businesses. Both platforms offer checking accounts with no monthly fee, no minimum balance requirement, and no overdraft fees. 

One of the key differences between North One and Mercury, however, is savings account offerings. Mercury customers receive one free savings account with more available upon request while North One does not offer savings accounts. Additionally, Mercury doesn’t charge wire fees whereas North One charges $15 to $20 per wire. 

Mercury is a fintech company, not an FDIC-insured bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust ®, Members FDIC.

North One vs. Lili 

Both North One and Lili offer free banking plans for businesses with no minimum deposit. One of the most notable benefits of Lili’s banking services compared to North One is their early pay features that allow users to get paid up to two days early. Additionally, with Lili users gain access to a free, automatic savings account. 

Lili also offers multiple paid plans ranging from $15 to $55 per month. The platform’s lowest tier paid plan, Lili Pro, boasts extensive expense management features as well as 4.15% APY on savings accounts. In contrast, North One does not offer savings accounts or any APY features, however, they do offer expense management features included with all of their packages. 

Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC.

North One vs. Relay 

Relay, like North One, offers two banking plans for businesses. Relay’s free business banking option is comparable to North One with no overdraft fees or minimum balances and integrations with QuickBooks Online and Xero. However, a key difference between Relay and North One’s free banking services is that Relay includes up to 20 individual checking accounts and two free savings accounts for users. 

Relay also has lower wire fees than North One with no fees required for incoming domestic and international wires and free outgoing wires for their premium plan, Relay Pro. Users of Relay’s free plan are charged just $5 to send domestic wires and $10 for international wires. 

Relay is a fintech company, not a bank. It partners with Thread Bank, Member FDIC, to provide banking services.

Final Thoughts on North One

North One is a suitable banking solution for businesses looking for a free banking platform with features to save time on bill pay and financial management tasks. Plus, users can take advantage of unlimited Envelopes (sub-accounts) to budget effectively for their business.

However, North One’s fees are substantially higher relative to competitors, charging fees for all domestic wires as well as physical checks/ACH payments (if you opt for their free plan). Due to this, businesses that require a significant amount of wire transfers to do business may not be suited to North One’s offerings.

Frequently Asked Questions

What bank does North One use?

North One uses The Bancorp Bank.

How long does an ACH transfer take from North One?

ACH transfers take one to three business days from North One.

Does North One have a mobile check deposit?

Yes, North One has a mobile check deposit.

Is North One a good business bank?

North One is a solid option for businesses looking for free banking services with robust budgeting and bill pay features. However, they do charge higher fees than some competitors.