No monthly fees, no minimum balance fees, and no ACH or wire fees. Apply in less than 10 minutes with your EIN and formation documents, then run cards, payments, and accounting from one account.
Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank, a division of Santander Bank, N.A. Member FDIC.
What you get with Rho's Business Checking Account
¹ The Rho Business Savings Account is a separate account from Rho checking. Savings account services and up to $75M in FDIC deposit insurance per depositor provided by American Deposit Management Co. and its partner banks, subject to FDIC requirements. Checking deposits are FDIC-insured up to $250,000 per entity through Webster Bank, a division of Santander Bank, N.A. Member FDIC.
- 01
Gather your documents
You need your EIN, your formation documents, and a government ID for each owner. LLCs should also have their operating agreement ready.
- 02
Apply online
The application takes less than 10 minutes. No branch visit and no paper forms.
- 03
Get verified
Our team reviews your application and reaches out if anything else is needed.
- 04
Fund and start banking
Send ACH and wires, issue corporate cards, and connect your accounting software from day one.
No monthly fees. Ever.
- Business checking account with no subscription tiers
- ACH and domestic wires at no cost
- Corporate cards with up to 2% cashback on all card spend (terms apply)
- Built-in accounts payable and expense management
- QuickBooks, NetSuite, and Sage Intacct integrations
- 24/7 support by phone, in-app chat, and SMS, at no cost
Banking services by Webster Bank
Checking account and card services provided by Webster Bank, a division of Santander Bank, N.A. Member FDIC.
FDIC-insured deposits
Checking deposits are FDIC-insured up to $250,000 per entity through Webster Bank, a division of Santander Bank, N.A. Member FDIC.
24/7 support
24/7 support by phone, in-app chat, and SMS.
| Rho | |
|---|---|
| Monthly subscription fee | $0 |
| FDIC deposit insurance | $250K on checking; up to $75M with a Rho Business Savings Account¹ |
| Rho | Mercury | Chase | Wells Fargo | |
|---|---|---|---|---|
| Monthly subscription fee | $0 | $0 ($35 to $350 paid tiers) | $15 | $15 |
| FDIC deposit insurance | $250K on checking; up to $75M with a Rho Business Savings Account¹ | Up to $5M | $250K | $250K |
Competitive data collected from Mercury, Chase, and Wells Fargo websites as of 08/20/2026, and may change. ¹ The Rho Business Savings Account is a separate account from checking. Up to $75M in FDIC deposit insurance per depositor provided through the Rho Business Savings Account by American Deposit Management Co. and its partner banks, subject to FDIC requirements. Rho checking deposits are FDIC-insured up to $250,000 per entity through Webster Bank, a division of Santander Bank, N.A.
Every US financial institution is required to verify the business and the people behind it before opening an account. Applying online goes fastest when you have four things ready.
- EIN from the IRS (sole proprietors can sometimes apply with an SSN, but an EIN is required to move money on Rho)
- Formation documents: Articles of Organization for an LLC, or Articles of Incorporation for a corporation
- Ownership details for anyone who owns 25% or more of the company
- A government-issued photo ID for owners and account signers
An LLC needs its own bank account to keep its liability protection intact. Commingling personal and business funds is the most common way owners undermine the legal separation an LLC exists to create, and it makes tax filing measurably harder.
Single-member LLCs can usually open an account with formation documents, an EIN, and an ID. Multi-member LLCs should also bring the operating agreement, since it shows who is authorized to sign for the company.
Because many LLCs are young companies watching every dollar, the practical checklist is short: no monthly fee, no minimum balance fees, and software integrations that keep bookkeeping automatic. Rho checks all three, and companies holding larger balances can add a separate Rho Business Savings Account with up to $75M in FDIC deposit insurance.
- Single-member LLCs need formation documents, an EIN, and a government-issued ID
- Multi-member LLCs should also provide the operating agreement
- Look for no monthly fees, no minimum balance fees, and automatic bookkeeping integrations
- The separate Rho Business Savings Account offers up to $75M in FDIC deposit insurance per depositor through American Deposit Management Co. and its partner banks
The main trade-off is physical infrastructure. Online-first platforms remove fees and paperwork; traditional banks offer branches and cash handling.
If your business handles significant physical cash, a bank with a branch network may genuinely fit better. For companies that operate digitally, an online business bank account eliminates recurring fees and manual reconciliation.
- Online-first (Rho, Mercury, Novo): Often $0 monthly fees, fully online account opening, built-in software integrations, phone and chat support
- Traditional (Chase, Wells Fargo): Typically $15 monthly fees (sometimes waivable), may require a branch visit, branch hours support
- Digital-first companies benefit most from automated online banking platforms
Start with the fee schedule. Monthly maintenance, ACH, wire, and minimum-balance fees compound quietly.
Understand how deposits are insured. A single bank insures up to $250,000 per depositor per ownership category. Platforms like Rho extend coverage by placing savings deposits across a network of FDIC-insured partner banks, which is how the Rho Business Savings Account, a separate account from checking, reaches up to $75M in available coverage. Rho checking deposits are insured up to $250,000 per entity through Webster Bank, a division of Santander Bank, N.A.
Check the software, not just the account. Rho connects natively to QuickBooks, NetSuite, and Sage Intacct.
- FDIC deposit insurance covers up to $250,000 per depositor per ownership category
- Rho checking deposits insured up to $250,000 through Webster Bank, a division of Santander Bank, N.A.
- Rho Business Savings Account extends FDIC coverage up to $75M via partner banks
- Native QuickBooks, NetSuite, and Sage Intacct integrations for automatic bookkeeping
Apply online in less than 10 minutes. No monthly fees, no minimum balance fees, and no branch appointment.
Frequently asked questions
Four things: an EIN from the IRS, your formation documents (Articles of Organization for an LLC or Articles of Incorporation for a corporation), ownership details for anyone holding 25% or more of the company, and a government-issued photo ID for owners and signers. With those ready, the Rho application takes less than 10 minutes.
Yes, in some cases. Stripe Atlas states that founders can accept US card payments, open a business bank account, and begin fundraising before the IRS assigns an EIN, with payouts capped at $100,000 until it arrives. This matters most for founders without a US Social Security number, who face an IRS processing time of 15 to 45 business days rather than the 1 to 3 business days typical for applicants with an SSN.
Rho takes the same approach directly: your business account opens in the same flow as incorporation, so banking, invoicing, cards, and bill pay are live once your account is approved rather than after your EIN arrives. Your EIN application is filed for you as part of the process.
Yes. Rho incorporates Delaware C-corps at no cost — the $400 fee is credited back once you deposit $10,000 of new money into your Rho checking account and keep your daily average balance $10,000 above where it started for the 60 days after you incorporate. There are no legal fees, the registered-agent fee is included for your first year, and your SS-4 (EIN application) is filed for you. It requires at least one US-based owner or officer and a physical US operating address. Delaware state fees and annual franchise taxes are separate — every formation path pays those.
A real human, 24/7, on every account and tier at no cost: phone 1-855-7-GETRHO, in-app chat, or SMS (verified 2026-08-02).
Deposits aren't at Rho — checking sits at Webster Bank, a division of Santander Bank, N.A. (Member FDIC) and savings at ADM's network of 400+ FDIC-insured institutions; FDIC insurance protects deposits at those chartered banks. Treasury securities are held in your company's name through Rho's custodial partners (Apex Clearing Corp. and Interactive Brokers LLC, Members FINRA/SIPC) (rho.co, 2026-08-02).
No, Rho is a financial technology company, not a bank. Checking account and card services are provided by Webster Bank, a division of Santander Bank, N.A., member FDIC. Savings account services are provided by American Deposit Management Co. and its partner banks.
Checking deposits are held at Webster Bank, a division of Santander Bank, N.A. Savings deposits are swept across a network of 400+ FDIC-insured banks, so FDIC coverage applies at each receiving institution.
No — checking is FDIC-insured up to $250,000 at Webster Bank, a division of Santander Bank, N.A. The up-to-$75 million coverage applies to Rho savings via the sweep network of 400+ FDIC-insured banks.
Rho Capital is a revolving working-capital credit line for businesses that pay for growth before they get paid — covering gaps like inventory purchases, supplier payments, payroll bridges, and marketing spend. It's underwritten on your real business cash-flow data, not just credit scores. Draw when the gap opens, repay as the cash comes back, and the line replenishes as you pay it down — with flexible repayment terms up to 180 days, no origination fees, no prepayment penalties, and funds landing directly in your Rho account.
Rho is a fintech, not a bank. Checking deposits — including drawn Capital funds — sit at Webster Bank, a division of Santander Bank, N.A., Member FDIC (a national bank founded in 1935, part of Santander's $327B-asset U.S. banking organization — per Santander, 8/20/2026), and Rho Business Savings is swept across American Deposit Management Co.'s network of 400+ FDIC-insured institutions for up to $75M in FDIC coverage per entity.
Mutual fund redemptions arrive the next business day. T-Bill sales settle in 2–3 business days. There are no lockups; you choose what to sell.
Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank, a division of Santander Bank, N.A. Member FDIC. Savings account services provided by American Deposit Management Co. and its partner banks. FDIC insurance coverage is only available to protect you against the failure of an FDIC-insured bank that holds your deposit; it does not protect you against the failure of Rho. Savings account services and up to $75M in FDIC deposit insurance per depositor provided by American Deposit Management Co. and its partner banks, subject to FDIC requirements. Competitive data collected from Mercury, Chase, Wells Fargo, and Novo websites as of 08/20/2026, and may change. Product claims current as of August 2026.