Grasshopper Bank vs Live Oak Bank: what each publishes
As of October 17, 2026, Grasshopper Bank takes these industries by its own published rules: Unlicensed financial services, with conditions; Forex and CFD, with conditions; Marketplace, with conditions. Live Oak Bank: AI and SaaS, with conditions.
Not a ranking: the two names are in alphabetical order. The free check applies every provider’s rules to your own answers.
Where it takes companies from
Policy by industry
| Industry | Grasshopper Bank | Live Oak Bank |
|---|---|---|
| Unlicensed financial services | With conditions | No published rule |
| AI and SaaS | No published rule | With conditions |
| Forex and CFD | With conditions | No published rule |
| Marketplace | With conditions | No published rule |
| Crypto | Sources disagree | No published rule |
| iGaming | Sources disagree | No published rule |
| Adult | Sources disagree | No published rule |
Where owners must live
Grasshopper Bank
To open an account, you must be 18 years of age or older and a U.S. citizen or permanent U.S. resident with a verifiable address in one of the 50 states or District of Columbia.
Live Oak Bank
No published rule
Rules about countries
Grasshopper Bank
No published rule
Live Oak Bank
Account holders and authorized signers must be a United States citizen or Permanent Resident with a valid Social Security number. People lawfully admitted to the United States on a temporary basis who have DHS authorization to work are not eligible to open an account.
Fees
Grasshopper Bank
| Plan | Account opening | Monthly | Checked |
|---|---|---|---|
| Innovator Business Checking | Not stated | None ('Monthly Account Maintenance Complimentary'); USD 5 a month once the account is dormant ('Dormant Account') | · Source |
| Accelerator Checking | Not stated | None ('Monthly Account Maintenance Complimentary'); USD 5 a month once the account is dormant ('Dormant Account') | · Source |
Live Oak Bank
| Plan | Account opening | Monthly | Checked |
|---|---|---|---|
| Business Essential Checking | Not stated | USD 10, waived with a USD 1,000 average daily balance | · Source |
| Business Plus Checking | Not stated | USD 25, waived with a USD 25,000 average daily balance | · Source |
| Business Plus Analysis | Not stated | USD 100, an earnings credit can offset it | · Source |
Closing an account
Grasshopper Bank
Closing Account. We may close the account at any time, with or without cause, after sending you notice if advance notice is required by law. If applicable, a notice may be sent to you that specifies when the account will be closed.
Live Oak Bank
We may close an account at any time upon reasonable notice to you, and, if we close an account, tender the balance of the account to you, at our option, personally, by mail, or as otherwise requested by you.
Licence
| Licensee | Grasshopper Bank | Live Oak Bank |
|---|---|---|
| Licensee | Grasshopper Bank, N.A. · national bank chartered by the OCC, Member FDIC (FDIC cert 59113) | Live Oak Banking Company · North Carolina state-chartered bank, Member FDIC (FDIC cert 58665) |
| Regulator | FDIC / OCC · | FDIC · |