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Find a Location

Grasshopper Bank has 1 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

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    Business ProfileforGrasshopper Bank

    Banking Services

    At-a-glance

    Customer Reviews

    1/5stars

    Average of 4 Customer Reviews

    Customer Complaints

    4 complaints closed in last 3 years

    3 complaints closed in last 12 months

    Customer Reviews are not used in the calculation of BBB Rating

    Reasons for BBB Rating

    Overview

    Grasshopper is a client-first digital bank serving the business and innovation economy. Grasshopper’s banking solutions cover small business, startups, venture capital and private equity firms, fintech-focused Banking-as-a-Service (BaaS) and commercial API banking platforms, SBA lending, and commercial real estate lending.

    Business Details

    Location of This Business
    261 5th Ave Ste 610, New York, NY 10016-7701
    BBB File Opened:
    7/12/2023
    Years in Business:
    5
    Business Started:
    5/7/2019
    Business Incorporated:
    4/24/2018
    Type of Entity:
    Corporation
    Alternate Business Name
    • Grasshopper Bancorp, Inc.
    Business Management
    • Mr. Mike Butler, President/CEO
    Contact Information

    Principal

    • Mr. Mike Butler, President/CEO
    Additional Contact Information

    Website Addresses

    Industry Tip

    BBB Tip: How to choose a new bank or credit union

    Customer Complaints

    4 Customer Complaints

    Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews

    File a Complaint

    Most Recent Customer Complaint

    07/12/2023

    Complaint Type:
    Service or Repair Issues
    Status:
    Unanswered
    Grasshopper bank was a nightmare to deal with. I started my startup and found them and trusted them to be my primary business account. On receiving 100k investment from my first investor and transferring it in they noticed it was coming from a crypto exchange, and froze my account, froze my outgoing transfers, and when I called, the staff claimed to have no idea what was going on, saying only "its probably because its crypto". In the end after holding my funds hostage for 6 days with only cryptic email explanations that did not make sense, and reference to "rules" which were directly contradicticted by the terms of service they were sending, they told me I am not the right kind of customer and closed the account. I was patient and reasonable explaining that my investor and the business and the funds were all legit and could be accounted for, and that I would honor any boundaries that they have, and they implied that because my investor paid in crypto, then this money was somehow "dirty" and that they would not allow it in the bank. When I asked for clarification they sent some rules on crypto that said nothing about this new "rule". So why am I not an ideal account?They claim in their market to be working for the innovation economy, and specializing in small businesses "The best digital checking account for small businesses."As far as I can tell, they are literally so upset that someone used crypto that they are banning me from the bank for thinking that I can consider my investors crypto as a valid asset. I trusted them with the inner workings of my business and with my first 20k of investment, and trusted them to communicate clearly if there was an issue, and to show up to fulfill the promise they claim to offer. And that has been the 2nd biggest mistake since starting my business.

    Customer Reviews

    4 Customer Reviews

    What do you think? Share your review.

    How BBB Processes Complaints and Reviews

    Start a Review

    Most Recent Customer Review

    Virgil V

    1 star

    06/12/2024

    Grasshopper claims to be client-facing and is instead a wannabe Silicon Valley facade of a business with tons of code rot left to CSR to navigate and deal with on a daily basis. All I've ever heard about them after all these problems I've dealt with have been so negative that I wish I looked at more reddits or BBB to begin with. Do no make the same mistake some of us have made and use another bank or leave money under your bed-- at least you'll have access to it.-I opened my account -No email to confirm onboarding -funds deposited and account put under review -still haven't received my money back -FRAUD FRAUD FRAUD

    Local BBB

    BBB Serving Metropolitan New York

    BBB Reports On

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