NorthOne Business Checking Account Review 2023

Finding the perfect business checking account is pivotal for the smooth functioning of your financial operations. NorthOne aims to streamline this process by offering a digital banking solution for small businesses and freelancers. In this comprehensive review, we delve into the features, pros, and cons of the NorthOne Business Checking Account.

Key Takeaways

  • Digital Banking: NorthOne provides an entirely digital banking service designed with small businesses and freelancers in mind. This includes mobile check deposits and in-depth financial reports.
  • Integration Features: Their service seamlessly integrates with popular business tools like QuickBooks, Stripe, and Shopify, facilitating easier business financial management.
  • Flat Fee Structure: Unlike many business bank accounts, NorthOne offers unlimited transactions, mobile check deposits, transfers, and customer support with a small monthly fee.
  • Downsides: There are a few cons to consider; there’s no expansive ATM network, no physical branches, and the account isn’t free.

Who is NorthOne?

NorthOne is a fintech firm that provides fully digital banking services designed specifically for small businesses, startups, and freelancers. Their services extend beyond everyday banking to include tools that can integrate with essential business tools, making financial management convenient and modern.

Features of the NorthOne Business Checking Account

NorthOne offers a host of features that cater to the specific needs of small businesses and freelancers. These include:

  • Digital Banking: NorthOne offers a fully digital banking experience, allowing users to manage their accounts conveniently from their devices.
  • Integration with Business Tools: This feature enables you to connect your account with popular business tools like QuickBooks, Stripe, PayPal, and Shopify.
  • Mobile Check Deposits: This handy feature makes it easy to deposit checks into your account using the NorthOne mobile app.
  • Insightful Financial Reports: The NorthOne app provides comprehensive financial reports, making it easier to understand your business’s financial state.
  • Bill Pay and Transfer Services: Users can pay bills and transfer funds directly from their account.
  • Dedicated Account Support: NorthOne offers an in-app chat feature where users can connect with the support team for troubleshooting and assistance.

Pricing

NorthOne charges a flat fee of $10 per month for access to their business checking account and a suite of financial services. This fee includes unlimited transactions, mobile check deposits, transfers, and customer support.

Pros

The advantages of the NorthOne Business Checking account are:

  • User-Friendly Interface: NorthOne provides a simple, intuitive, and user-friendly interface where users can easily navigate.
  • Unlimited Transactions: For a flat monthly fee, users can make unlimited transactions without worrying about incurring extra charges.
  • Excellent Integration: The ability to integrate with popular bookkeeping and business tools is a big plus for small businesses and freelancers.

Cons

The downsides to consider are:

  • Monthly Fee: Unlike some digital business checking accounts, NorthOne charges a flat monthly fee.
  • No ATM Network: Presently, NorthOne does not have a specific ATM network. This might lead to users incurring third-party ATM fees.
  • No Physical Branches: As a fully digital banking service, NorthOne has no physical branches. Users who prefer in-person banking might find this problematic.

Comparison with Other Business Checking Accounts

In this section, we will compare NorthOne Business Checking Account with three other popular business accounts: Novo Business Checking, BlueVine Business Checking, and Azlo Business Checking. This comparison covers their key features, benefits, and downsides.

NorthOne vs. Novo Business Checking

NorthOne Business Checking:

  • Fully digital banking.
  • Seamless integration with major business tools like QuickBooks and Stripe.
  • Flat monthly fee of $10.
  • Mobile check deposits.
  • No dedicated ATM network; users may incur third-party ATM fees.
  • Unlimited transactions.

Novo Business Checking:

  • Fully digital banking.
  • Integration with business tools like QuickBooks, Xero, Stripe, and more.
  • No monthly fees.
  • Mobile check deposits.
  • No ATM transaction fees at 3,000+ in-network ATMs
  • Unlimited transactions.
  • Restaurant and travel rewards for using the debit card.

NorthOne vs. BlueVine Business Checking

NorthOne Business Checking:

  • Fully digital banking.
  • Seamless integration with major business tools like QuickBooks and Stripe.
  • Flat monthly fee of $10.
  • Mobile check deposits.
  • No dedicated ATM network; users may incur third-party ATM fees.
  • Unlimited transactions.

BlueVine Business Checking:

  • Fully digital banking.
  • Compatible with business tools like QuickBooks, Stripe.
  • No monthly fees.
  • Mobile check deposits.
  • Access to 38,000+ MoneyPass ATMs with no transaction fees.
  • Unlimited transactions.
  • Earn interest at a competitive APY.

NorthOne vs. Azlo Business Checking

NorthOne Business Checking:

  • Fully digital banking.
  • Seamless integration with major business tools like QuickBooks and Stripe.
  • Flat monthly fee of $10.
  • Mobile check deposits.
  • No dedicated ATM network; users may incur third-party ATM fees.
  • Unlimited transactions.

Azlo Business Checking:

  • Fully digital banking.
  • Integration with business tools like QuickBooks, PayPal, Stripe, and more.
  • No monthly fees.
  • Mobile check deposits.
  • Participates in the Allpoint ATM network with 55,000+ fee-free ATMs.
  • Unlimited transactions.
  • Capabilities to send customized invoices.

Conclusion

NorthOne Business Checking offers a comprehensive range of features catering to the needs of small businesses and freelancers, especially integrating popular bookkeeping and business tools. However, it charges a $10 monthly fee and lacks its dedicated ATM network.

On the other hand, competitors like Novo, BlueVine, and Azlo provide no monthly fees and in-network ATMs to withdraw funds without transaction fees. Additionally, BlueVine Business Checking offers interest at an attractive APY.

Overall, while each account has unique strengths, assessing your business needs and preferences will enable you to make the best choice for your financial management.

The NorthOne Business Checking Account is a solid choice for small businesses, startups, and freelancers, offering digital convenience and unprecedented control over your business finances. While it lacks some traditional banking features, its tech-forward focus may appeal to a modern audience keen on digitizing their financial operations.

FAQs

What is NorthOne?

NorthOne is a fintech company offering digital banking solutions for businesses and freelancers. They have an application designed to streamline everyday banking tasks and provide insights into your business’s financial state.

Is there a fee for the NorthOne Business Checking Account?

Yes, the NorthOne Business Checking Account comes with a flat fee of $10 per month. This fee allows for unlimited transactions, as well as access to customer support and other features.

Can I deposit checks with NorthOne?

Absolutely! One of NorthOne’s features is mobile check deposits. This allows users to conveniently deposit checks through their NorthOne mobile app.

Does NorthOne support integrations with other business tools?

Yes, NorthOne supports integrations with popular business tools like QuickBooks, Shopify, PayPal, and Stripe. This feature allows for the easy tracking of transactions, invoices, and overall financial standing.

Can I withdraw cash from ATMs with NorthOne?

Users can withdraw cash from any ATM, but NorthOne doesn’t have a dedicated ATM network. Therefore, account holders might incur third-party ATM fees.

Does NorthOne have physical branches?

No, NorthOne is a fully digital banking service and does not have any physical branches.