💔BBVA shuts down Azlo small business banking - can you suggest an alternative online bank?https://www.azlo.com/

Mayorgalu·Feb 02, 2021

Posted in:Money

🤲🏼Help a small business owner sister out! BBVA is shutting down Azlo's small business checking accounts, and we are heartbroken. We have loved the experience of banking with Azlo with no fees, ease of payments, and top-notch security. But alas, the service was too good to be true, and now it is being put to sleep. Sigh. Can you suggest other digital banking alternatives to Azlo besides Mercury bank - we love Mercury too!Please tell me your fave, millennial-friendly digital banks that won't kill a growing small business with fees. Thank you! 💚

hannahlake·Feb 03, 2021

Following! I also bank with Azlo for my business and am searching for a new option. I've started looking at all of the online bank comparisons and reviews, but I'm feeling a little overwhelmed. Would love to hear what other Elphas are using. Thank you!!

tutti·Feb 03, 2021

I am in the same boat. I did some research and originally was going to go with Chase as they offered a bonus with my existing Chase credit card but it was way too painful to get it opened with them.Instead I just decided on Monday to switch to Novo as an alternative as two of my colleagues had done that. It’s an easy online signup (they have a page dedicated for Azlo switchers), and I was up and running that day. The money I transferred from Azlo to Novo on Monday was in my account on Tuesday. So far I’m happy with the brief experience and the reviews I’ve read about Novo are good.If you use this code, we are supposed to both get $25. Disclaimer: I did use a friend’s code and haven’t seen the $25 deposited yet so 🤷🏽‍♀️.banknovo.com/r/azlo/0fbbfd39

JGO·Feb 03, 2021

@Mayorgalu I moved my Azlo Account to Novo - it was fast and easy. So far, I'm pretty happy with it I love their website design and that I can customize my dashboard on their phone app ~Get $25 with my referral link! - banknovo.com/r/azlo/7a8f5aad

laurenmccollom·Feb 03, 2021

I invite you to check out Grasshopper Bank - shameless plug as I work here on the banking team :)We're a female-founded, Member FDIC, nationally chartered digital commercial bank for the innovation economy. We believe that proactive authentic relationships, coupled with our technology, are an enabler for delivering meaningful and relevant value to our clients. Grasshopper was built to provide a more efficient, inclusive, and creative experience for clients as a partner in their journey, with an emphasis on supporting the next generation of founders, investors, and communities.We're offering Free Basic Banking For Life. No cost for a checking account, sending and receiving ACH payments, wire transfers in and out, or mobile deposits. It's all included for free for companies that make Grasshopper their primary bank (meaning at least 50.1% of balances held at the bank). Some restrictions apply, see terms and conditions for full details. Apply for an account here: https://www.grasshopper.bank/application/One thing to note is that Grasshopper is a licensed bank - this should be something you take into consideration when selecting a banking partner. Given that both Azlo and Simple recently shut down, you may want to evaluate if going with a fintech provider (that is riding the rails of another bank) is the best long term choice for your business (and your sanity!). If you have any questions about Grasshopper Bank, our Free Banking For Life offer, or want to speak with me, please reach out to me at [email protected] or put time on my calendar: www.calendly.com/mccollom