Grasshopper Bank Reviews | Read Customer Reviews of grasshopper.bank

Grasshopper Bank Reviews | Read Customer Reviews of grasshopper.bank

Grasshopper Bank reviews

Showing 94 reviews with 1 star · Clear filters

Desiree G.
Apr 26, 2023
I was kicked out for a mistake in the…
I was kicked out for a mistake in the enrollment process. They should have given me a chance to correct the information. I wasted a lot of time and received my sensitive information. Customer service should have given me a warning and an opportunity to correct the mistake.
Response from Grasshopper BankOct 9, 2023
Hi Desiree - We're sorry to hear your experience with us did not match your expectations. At Grasshopper we pride ourselves on our account opening process, which does allow clients to open a fully digital, paperless deposit account in as little as 5 minutes. However, we also take account security very seriously. In some cases, accounts may be locked or closed depending on a variety of factors, such as requirements to fund the account not being met. While this may be an inconvenience, we can assure you that all measures we take are to help keep our clients and bank safe. Although we could not offer you an account at this time, we hope you have found another bank that is the right fit for your business.
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Me
Apr 25, 2023
Account closed with no warning
My account was closed with no warning or notification to me whatsoever. Couldn't log in (said the account didn't exist), and other banks said my deposits to the Grasshopper account wouldn't go through. Thank god I hadn't put any serious funds into the account yet. They continued to send me generic emails about their service and how great it was, though... Terrible experience. Would not recommend.
Response from Grasshopper BankOct 9, 2023
Thanks for the feedback. We're sorry to hear your experience with us did not match your expectations. At Grasshopper we pride ourselves on our account opening process, which does allow clients to open a fully digital, paperless deposit account in as little as 5 minutes. However, we also take account security very seriously. In some cases, accounts may be locked or closed depending on a variety of factors, such as requirements to fund the account not being met. While this may be an inconvenience, we can assure you that all measures we take are to help keep our clients and bank safe. Although we could not offer you an account at this time, we hope you have found the right bank for your business.
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Juan V.
Apr 18, 2023
Deposits were taking too long
Deposits were taking too long, you could see the “partial credit” but it was not reflected to your account, and as a start up business owner it was harder for me to actually spend or invest my profits
Response from Grasshopper BankApr 20, 2023
Hi Juan - We are disappointed to hear that your experience did not meet your expectations! As a federally charted bank, we are regulated by the Office of the Comptroller of Currency (OCC) and follow all guidelines related to funds availability in order to remain in compliance with Regulation CC. As such, we are required to provide account holders with disclosures that indicate when deposited funds will be available, which is provided at account opening. We also provide disclosures at the time of deposit and notices to inform our clients when a hold is placed. As a client-first digital bank, we understand that banking is not one size-fits-all, but we always strive to the best digital banking experience possible. While our bank may not be the best fit for your business, we hope this helps clear things up for you! For more information about our Funds Availability policy, we ask that you refer to page 7 of our Master Service Agreement. All of our legal agreements can also be found on our website at https://www.grasshopper.bank/legal.
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Henry N.
Apr 18, 2023
Open and closed account in 2 days
We opened our account and Grasshopper closed it two days later without an explanation. No details, no calls no emails, nothing. It's ok, we've moved on, but the entire ordeal was subpar. To be honest, it was expected when dealing with a non traditional bank, even if the initial process was easy. Overall, i couldn't recommend Grasshopper to anyone with a pulse, as their lack of customer service overshadows their product. UPDATE: 4/24/23: Thank you for your reply. It would have been nice to get a hold of someone when I needed to months ago, whatever that security reason may be, but nobody returned my emails. But, as i stated in my original review, the lack of customer service overshadowed your product.
Response from Grasshopper BankApr 24, 2023
Hi Henry - We're sorry to hear that are not happy with your experience! We pride ourselves on our seamless digital account opening process, however, we also take account security very seriously. For your protection and ours, we have several precautionary measures in place to ensure the safety and integrity of our platforms. In some cases, accounts may be closed depending on a variety of factors, such as returned funding deposits. While this may be an inconvenience, we can assure you that all measures we take are to help keep our clients safe. If you would like to discuss your experience further, we encourage to reach out to our Client Services team. For your convenience, we offer a number of ways to receive support. For more information about our Deposit Account Terms & Conditions, we ask that you refer to page 2 of our Master Service Agreement. All of our legal agreements can also be found on our website at https://www.grasshopper.bank/legal.
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Jason
Apr 18, 2023
Don't bother with this bank if you own a business.
Their several-day bank holds on deposits prevent business operations from running efficiently. They put 5-day holds on deposited checks, even when they are from the company's owner. I've never experienced this at any other bank, which made me end my business account with Grasshopper Bank very quickly.
Response from Grasshopper BankApr 19, 2023
Hi Jason - We are disappointed to hear that you were not satisfied with your experience! As a federally charted bank, we are regulated by the Office of the Comptroller of Currency (OCC) and follow all guidelines related to funds availability in order to remain in compliance with Regulation CC. As such, we are required to provide account holders with disclosures that indicate when deposited funds will be available, which is provided at account opening. We also provide disclosures at the time of deposit and notices to inform our clients when a hold is placed. As a client-first digital bank, we understand that banking is not one size-fits-all. While we can not speak to the policies and procedures of other financial institutions, we set high standard for ourselves and always strive to provide the best digital banking experience possible. While our bank may not be the best fit for your business, we hope this helps clear things up! For more information about our Funds Availability policy, we ask that you refer to page 7 of our Master Service Agreement. All of our legal agreements can also be found on our website at https://www.grasshopper.bank/legal.
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Roger
Feb 24, 2023
Disappointing and slow
My experience with Grasshopper was disappointing. They advertise that I could open an account in 5 minutes. That is not accurate. You can fill out their form in 5 minutes but it took them 4 days to actually open the account even with my 830 credit score. After 1 day they stated that my credit was frozen. That took me 5 minutes for me to fix. Three days later, after many phone calls and setting up a checking account with another institution (that took 10 minutes to activate my account) they decided to approve me. Sorry, that is not 5 minutes, so I told them not to activate the account.
Response from Grasshopper BankMar 16, 2023
Hi Roger, We're sorry to hear your experience with us did not match your expectations. At Grasshopper we pride ourselves on our account opening process, which does allow clients to open a fully digital, paperless deposit account in as little as 5 minutes. However, we also take account security very seriously. In some cases, applications may require manual review depending on a variety of factors, such as a credit or security freeze placed on an applicant's credit report. In which case, applications undergo manual review and could take up to 3 business days once the freeze has been lifted or removed. While this may be an inconvenience, we can assure you that all measures we take are to help keep our clients and bank safe. As it may be too late to reconcile, we're here to help should you be interested in giving Grasshopper another chance in the future. For more information about our account opening process, please visit https://www.grasshopper.bank/faqs/when-will-my-application-be-approved.
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