North One

North One has completely overhauled its pricing to compete directly with free fintechs. It now offers a Standard Plan with a $0 monthly fee, making its powerful "Envelope" budgeting tools accessible to everyone without a subscription. While it still offers a premium Plus Plan ($30/mo) for power users who need cheaper wires and priority support, the core banking experience is now free. This change makes North One a top-tier contender for "Profit First" businesses that previously avoided it due to the cost.

At a Glance

• Account Type: Business Checking (Fintech)
• Monthly Fee: $0 (Standard) or $30 (Plus)
• Minimum Opening Deposit: $50
• Transaction Fees: $0 for standard ACH and incoming wires; $20 (Standard) or $15 (Plus) for outgoing domestic wires.
• APY (Interest): None on standard checking; Savings functionality available via Envelopes (rates vary).
• ATM Access: Fee-free at 90,000+ Green Dot® and Allpoint® ATMs.
• Key Feature: Envelopes (Unlimited sub-accounts for budgeting) & Integrations (Connects to QuickBooks, Shopify, Square, Etsy, etc.)
• Eligibility: Available to U.S. businesses, including Sole Proprietors.

Overview

North One is a fintech banking platform built for "builders and makers." It targets freelancers, agencies, and e-commerce shops that need help organizing their money. With its recent pricing shift to a freemium model, it now competes aggressively with Novo and Relay by offering its robust budgeting software for free, monetizing instead through transaction fees (wires/checks) and a premium subscription tier.

Features & Benefits

• Envelopes: This feature mimics the cash envelope system. You can set up custom rules to allocate funds automatically. If you receive a $1,000 payment from a client, North One can instantly allocate $300 to "Taxes," $500 to "Payroll," and leave $200 in "Operating."
• Integrations: North One plays nice with almost everyone. If you use Stripe or Square, you can see your sales data right inside the North One app.
• Debit Cards: You get a physical Mastercard® Debit Card and can issue virtual cards for online spending.
• Cash Deposits: Being able to deposit cash at Walmart, 7-Eleven, or CVS (via Green Dot) makes this viable for local businesses.

Fees & Requirements

• North One Standard ($0/mo):
  • Monthly Fee: $0
  • Domestic Wire Send: $20
  • Physical Check Send: $1
  • Same-Day ACH: 1.5% fee ($1 min, $20 max)
• North One Plus ($30/mo or $300/yr):
  • Monthly Fee: $30
  • Domestic Wire Send: $15
  • Physical Check Send: $0
  • Same-Day ACH: $0
  • Priority Support & Dedicated Manager
• Green Dot Fees: Retailers typically charge ~$4.95 per cash deposit.

Borrower Experience

• Mobile First: The app is beautiful and responsive. It is clearly designed for the business owner who runs their company from their phone.
• Customer Support: Plus members get priority support, but standard users still have access to in-app chat.

Who It’s Best For

• "Profit First" Adherents: North One’s Envelopes make the Profit First method automated and painless. Now that the account is free, it is the best tool for this strategy.
• Disorganized Freelancers: If you struggle to save for taxes, the automated "percentage-based" transfers are a lifesaver.
• Cash-Based Solopreneurs: If you need a digital bank but also need to deposit cash tips or weekly revenue, access to the Green Dot network is crucial.

Who Should Skip It

• Wire-Heavy Businesses: If you send 5 wires a month, you will pay $100 in fees on the Standard plan. Mercury (free wires) is a much better choice.
• Check Writers: If you mail 20 checks a month, the $1/check fee on the Standard plan adds up. Axos or Bluevine (free check writing) is better.
• Interest Seekers: If you want your idle cash to earn money, Bluevine (2.0% APY) or Grasshopper are superior choices.

Bottom Line

North One has significantly improved its value proposition by removing the mandatory monthly fee. The Standard Plan ($0) is excellent for businesses that need automated budgeting and cash deposits but don't send many wires or checks. However, be careful about transaction fees; if you move money frequently via wire or paper check, "free" can quickly become expensive.