Better business banking.

To be eligible for Rho, your business must be incorporated in the United States. Rho serves small business owners, startups, middle-market and enterprises across industries.

We do not offer services to sole proprietorships or unincorporated businesses, so small business banking services – like a small business checking account – from another financial institution may be a better fit for these types of entities.

No. Rho is not a bank. Rho is a financial technology company that partners with other banks, dedicated to helping organizations take charge of their finances.

At Rho, we provide products for digital banking solutions, business credit cards, accounts payable, and more — all through one, intuitive platform. Checking and card services provided by Webster Bank, N.A., member FDIC; savings account services provided by American Deposit Management Co. and its partner banks.

Checking and card services are provided by Webster Bank, N.A., member FDIC. Savings account services are provided by American Deposit Management Co. and its partner banks.

To be eligible for Rho, your business must be incorporated in the United States. We do not offer services to sole proprietorships or unincorporated businesses. Terms & conditions apply. 



To open a business checking account through Rho, we require general business information and key documents including:


• Articles of Incorporation
  
• Company bylaws
• EIN letter
  
• Beneficial owner information
  
• Additional supporting documents where applicable
  
• Other information, including social security number
  

Yes, the Rho app is available on iOS and Android devices for both Rho account admins and employee users.

Employees can use the Rho app to manage expenses, upload receipts, request spend limit increases, and access virtual cards for card payments.

Rho admins can do the same plus manage mobile banking needs like depositing checks and checking account balances.

Yes. Banking services for the Rho Business Savings Account (formerly known as Treasury Management Accounts) and up to $75M in FDIC insurance per depositor subject to conditions are provided by American Deposit Management Co. ("ADM") and its partner banks.

Currently, qualifying clients earn up to 2.75% APY (annual percentage yield) on Rho Business Savings Accounts, helping you put your money to work as interest rates change.

Once you enroll, interest will be earned by you with the Rho Business Savings Account will be calculated by ADM each statement cycle. This is in contrast to many business savings accounts, which offer 0.01% APY (national average as of June 6, 2024) on your deposits.

Since we do not offer ATM withdrawals at this time, nor do we offer cash deposits or business debit cards, we do not charge ATM fees.

We also don’t charge ACH fees, monthly maintenance fees, or monthly service fees with Rho business checking and savings accounts.

The only exception is Rho Treasury (formerly known as Rho Prime Treasury), our bespoke treasury management solution, that has a small maintenance fee. Learn more about our pricing today.

No, we do not have minimum opening deposit requirements at this time for the checking and savings accounts.

No. Our cash management offering, Rho Treasury (formerly known as Rho Prime Treasury), only invests your idle cash in high-grade assets, like U.S. T-Bills, that align with your customized investment policy and liquidity needs.

If your company’s investment policy allows for high-end investment-grade corporate bonds and U.S. Bank CDs (certificate of deposits), then those may be held in your account as well.

Assets are held in your company’s name, which is an important distinction from money market funds. Read our blog post about money market account for more info, including their risks vs. T-Bills.

No, Rho is not a personal finance solution and only offers business account products with our partner banks.