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NorthOne partners with Bancorp Bank and Galileo to help small business owners

By Pavithra R

May 26, 2021

  • America
  • Northone

NorthOne partners with Bancorp Bank and Galileo to help small business ownersNew York-based NorthOne, the FinTech that built one of the country’s leading banking apps for small businesses has announced partnering with The Bancorp Bank, Member FDIC, to provide banking services to its fast-growing customer base, and Galileo Technologies to deliver more processing services to new and existing NorthOne customers.

“We’re assembling the best of everything for our small business customers. We have the team, the research insights, the platform and customer experience, and now we have the absolute best infrastructure and bank partners in the world. We’re so determined to build the primary banking platform that small businesses deserve – it’s our privilege and opportunity to serve them – and now we’re set up for incredible scale,” said NorthOne CEO and co-founder Eytan Bensoussan.

NorthOne’s goal is to change the way that small businesses and freelancers think around banking and finance. Its challenger banking app has removed complexities by eliminating non-sufficient funds (NSF) and overdraft fees, further reducing processing times compared to other challenger banking apps, and is set up to offer a full suite of transaction methods with limits engineered to allow a small business to use their NorthOne Account as their primary bank account.

Through its partnership with The Bancorp Bank, Member FDIC, current and new NorthOne customers will now have access to updated account features, including:

  • Deposit funds from checks through the NorthOne mobile app with the ability to access funds at any time of day
  • No NSF fees, overdraft fees, or fees for ACH payments or direct deposits from popular POS providers
  • Withdraw cash at more than 2 mn Cirrus ATMs worldwide with no additional fees charged by NorthOne
  • Transfer cash to a NorthOne Account at nearly 100,000 Green Dot locations nationwide
  • Budget and plan for important expenses like taxes, payroll, and rent with NorthOne Account Envelopes
  • Powerful invoicing features
  • NorthOne’s mobile and web banking app helps small business owners make payments and keep track of their company’s finances

“Small business owners today are under extreme pressure and stress to manage and grow their companies. Through our partnership, NorthOne has the ability to scale their platform and help small business owners save time, budget and plan their finances, and run their business with confidence,” said Steve Turza, Director Business Development at The Bancorp Bank.

NorthOne is a financial technology provider, not a bank. Banking services are provided by The Bancorp Bank, Member FDIC.

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