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Does Grasshopper Bank accept unlicensed financial services businesses? (October 2026)

With conditions

As of October 6, 2026, Grasshopper Bank, N.A. (FDIC / OCC) accepts unlicensed financial services businesses with conditions, per its published policy.

What the policy says

we have identified the below business activities as requiring a tailored due diligence process. ... Money Service Businesses

Grasshopper Bank · Financial services without a licence · With conditions · · SourceConditions: tailored due diligence; the bank verifies proper licensing (for a US money services business: state money transmitter licences / FinCEN registration)

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