Grit Bank is free to use, but certain advanced features may come with fees. These include mass payments via API, Grit Treasury account management, non-USD currency exchanges, and optional premium processing for international USD transfers. There are no account minimums, overdraft fees, monthly charges, or account opening fees.

We can accept most startup companies that aren’t money services businesses or involved with adult entertainment, cannabis or internet gambling. Our product is geared towards tech companies, so it might not be the best fit for some other businesses, especially ones that frequently deal with physical cash. We cannot open accounts for trusts.

Customers must have some type of existing or planned operations in international address for their principal place of business. This can be a residential address, but may not be a registered agent, PO box, or UPS box address. Our customer base includes startups and ecommerce companies, as well as venture capital firms with entities in the Cayman Islands, British Virgin Islands, Saudi Arabia, Egypt, Oman, Bahrain, Qatar, Kuwait and United Arab Emirates. Upon applying, we’ll review to ensure you have up-to-date formation documents and otherwise satisfy our onboarding requirements. We cannot currently open accounts for founders operating in the following countries and regions: Afghanistan, Albania, Bosnia & Herzegovina, Botswana, Burundi, Cameroon, Central African Rep, Democratic Republic of the Congo, Congo, Croatia, Eritrea, Ethiopia, Haiti, Kosovo, Libya, Macao, Mali, Mozambique, Myanmar (Burma), Nicaragua, Nigeria, Pakistan, Somalia, Tanzania, Venezuela, Viet Nam, Western Sahara, Yemen, Zimbabwe, Belarus, Iran, North Korea, Cuba, Syrian Arab Republic, Ukraine (specifically, Kherson, Zaporizhzhia, Donetsk, Luhansk, and and Crimea).

Our main revenue source is interest from deposits. Besides, we earn from account usage and merchant transfer fees (interchange), international wire FX processing, and other fees.

At Grit Bank, security is our top priority. We ensure your safety by requiring HTTPS on all pages and using HSTS for secure connections. Our yearly penetration testing by a third-party detects vulnerabilities, and we hash passwords with the bcrypt algorithm for added security. Two-factor authentication employs time-based one-time passwords, never sent via insecure channels like SMS. Additionally, we encrypt our database and uploaded images, with extra protection for sensitive data such as social security numbers. Rest assured, we never store your debit or credit card numbers for enhanced security.