SMB Challenger Banking App NorthOne Partners with The Bancorp Bank, Galileo

NorthOne, a banking app for small businesses, today announced a partnership with The Bancorp Bank, Member FDIC, to provide its banking services to NorthOne’s customer base, and Galileo to deliver more processing services to new and existing NorthOne customers.

“We’re assembling the best of everything for our small business customers,” said NorthOne CEO and cofounder Eytan Bensoussan. “We have the team, the research insights, the platform and customer experience, and now we have the absolute best infrastructure and bank partners in the world. We’re so determined to build the primary banking platform that small businesses deserve – it’s our privilege and opportunity to serve them – and now we’re set up for incredible scale.” 

Small business builders today make up 85 per cent of the U.S. economy, yet are historically underserved and forgotten by traditional banks. NorthOne’s infrastructure changes were made first and foremost with their customers’ feedback in mind, with the goal of making their banking experience simple. The challenger banking app has removed complexities by eliminating non-sufficient funds (NSF) and overdraft fees, further reducing processing times compared to other challenger banking apps, and is set up to offer a full suite of transaction methods with limits engineered to allow a small business to use NorthOne as its primary account.

Current and new NorthOne customers will now have access to updated account features, including:

  • Deposit funds from checks through NorthOne’s mobile app with the ability to access funds in minutes, any time of day¹
  • No additional NSF fees, overdraft fees, or fees for ACH payments or direct deposits from popular point of sale providers like Stripe or Square 
  • Withdraw cash at more than 2 million Cirrus ATMs worldwide with no additional fees charged by NorthOne
  • Transfer cash to a NorthOne account at nearly 100,000 locations nationwide2 
  • Budget and plan for important expenses like taxes, payroll, and rent with NorthOne Envelopes 
  • Powerful invoicing features
  • NorthOne’s mobile and web banking app that helps small business owners make payments and keep track of their company’s finances