After months of hard work, we’re excited to announce that we’ve partnered with The Bancorp Bank, N.A., Member FDIC and Galileo Financial Technologies on our mission to help small business owners get the banking experience they deserve. This partnership will pair their world class banking infrastructure and services with our tech designed for small businesses.
(NorthOne is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank, Member FDIC.)
From the start, our goal has been to build a banking app that simplifies the lives of small business owners – not just the startup entrepreneurs of Silicon Valley, but the owner of your favorite restaurant, the plumber who saves the day when a pipe bursts, or the trucker who keeps the supply chain of our country connected. Building a platform for all 30 million small businesses across the country is a big job, and one that we can’t do alone. Our partnership with The Bancorp Bank and Galileo will help these business builders operate with confidence in a time when certainty is in such short supply.
Through this partnership, NorthOne is set up to grow – a lot. Our new partners have supported some of the world’s leading FinTechs with the absolute best infrastructure technology. They’ll help us as we keep building solutions that give our customers a fast, simple and feature-rich way to manage their business’s finances so they have more time to focus on the parts of their business that matter most.
We’ve taken this opportunity to remove overdraft and NSF (non-sufficient funds) fees, which will save small business owners that use NorthOne from needing to pay these fees. NorthOne customers will now pay just $10 a month for a NorthOne Account and $15 to send or receive each domestic wire. That’s it. Radically transparent pricing means that our company benefits when our customers thrive, not when they stumble.
We have countless more updates in store. Now that we are building atop the outstanding infrastructure of our new partners, we can support more innovations that small businesses owners actually need.
You shouldn’t need a finance degree to run a great small business. NorthOne is now positioned to help small business owners overcome financial illiteracy at scale, and this is only the start. We’ve got another exciting announcement that we’ll be able to share very soon. Stay tuned!
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