Rho Business Banking
Startup / growth-stage digital treasury + $0 wires/ACH + sweep FDIC on savings; no cash, no branches
Primis Business Checking
$0 monthly + $1 open; pick 1% debit cash-back or 1.75% checking APY, plus 4.00% business savings — online nationwide, cash only in VA/MD footprint
Costs & Fees
| Metric | Rho Business Banking | Primis Business Checking |
|---|---|---|
| Monthly maintenance | $0 unconditional on checking and savings — no paid banking subscription tiers | $0 unconditional on all three digital products |
| Fee waiver | N/A — core banking is $0 | N/A — already $0; no balance or activity waiver needed |
| Transaction fees | Unlimited electronic ACH, wires, checks at $0 on published pricing. Savings limited to 6 outbound transfers/month. | No per-item fees on digital line. Marketing 'unlimited transactions'; operational channel caps on ACH/wires/ATM apply (see limits). |
| Overdraft/NSF | $0 overdraft fees advertised; overdraft facility not published. NSF/return matrix not fully disclosed. | $0 NSF; $0 overdraft item; $0 return deposited item. Not an invitation to overdraw; bank may return items. OD protection not disclosed as priced product. |
| ATM fees | Not offered — cards cannot withdraw cash at ATMs; no cash advance | Primis ATM $0. Any U.S. ATM — no Primis fee; foreign operator surcharge rebated (~15th of month; account must remain open). Daily ATM cash-out cap $550. |
| Wire/ACH | Incoming/outgoing domestic wire: $0. Same-day ACH: $0 before 2pm ET. Incoming intl: $0 Rho-side. Outgoing intl: $0 Rho fee + optional $15 SWIFT + 1% FX via Wise. Returned domestic wire ~$20–$45; recall $30 (conflict with help center 'recalls free'). | Incoming domestic wire $0 (+ originating-bank fee refund + $10 if requested within 30 days with docs). Outgoing domestic $5. Incoming intl $0. Outgoing intl $35 (FX markup not disclosed). App ACH in/out $0 but volume capped. |
Interest & Yields
| Metric | Rho Business Banking | Primis Business Checking |
|---|---|---|
| Checking APY | 0% — non-interest-bearing DDA. Do not treat card cashback or Treasury yield as checking APY. | Unlimited: 0% APY (1% debit cash-back reward). Pro: 1.75% APY on all balances, no tiers, no earnings limit. |
| Savings APY | Variable competitive yield — no public rate sheet number; check live rate at rho.co/business-savings. Requires $25,000 average monthly balance or no interest. | Business Savings: 4.00% APY on all balances; no account maximum on marketing. Separate account from checking. |
| FDIC coverage | Checking: $250,000 at Webster/Santander. Savings: up to $75M advertised via ADM sweep ($250k per program bank). | Standard FDIC $250,000 per depositor per ownership category at Primis Bank. Primis + 316 Financial + Panacea aggregate. |
Features & Access
| Metric | Rho Business Banking | Primis Business Checking |
|---|---|---|
| Branch/ATM network | None. No branches, no ATM cash access. | 24 full-service VA/MD branches (YE2025). Any U.S. ATM for withdrawal — surcharge rebate on checking. Cash deposit at ATM implied Primis machines in VA/MD only. |
| Mobile app | G2 4.8 (~121 reviews); iOS ~4.6–4.8 (small n); Android ~3.8 (5 reviews); Trustpilot low-to-mid 3s | Primis Digital Banking iOS ~4.6 (289 ratings); Android ~4.9 (~232 reviews). Legacy Classic Business Android ~3.0 (~29) — treat as deprecated. |
| Virtual cards | Included — physical + virtual Mastercard with spend controls, merchant locks | Not disclosed |
| Opening deposit | $0 | $1.00 |
| Eligibility | U.S.-based incorporated businesses — LLC, C-corp, S-corp, nonprofits with EIN. Sole proprietorships NOT eligible per FAQ. EIN required to move money. | Sole props and small business marketed. Entity list not fully published. Beneficial ownership information required. |
Pros & Cons
Rho Business Banking
Pros
- $0 monthly, $0 same-day ACH, $0 domestic wires, $0 mailed checks on published pricing
- Checking at Webster/Santander (Santander U.S. org ~$327B post 8/20/2026 close)
- Savings ADM sweep advertises $75M FDIC per entity via 400+ bank network
- Treasury RIA securities book (T-bills + funds) with dated net-yield grid and $50k minimum
- AP, expenses, invoicing, and QBO/NetSuite/Sage/Xero bundled at $0 per seat with role/approval controls
Cons
- No cash, no ATMs, no branches — requires second bank for cash businesses
- Checking earns 0%; operating cash in checking is a yield leak
- $75M FDIC headline is savings-only; checking capped at $250k Webster
- Treasury 4.60% is VFSTX/$20M+/15bp case — SIPC not FDIC, market risk, 2–3 day liquidity
- Sole props ineligible; strict industry/geo KYC; savings APY not published; 6 savings transfers/month
Primis Business Checking
Pros
- Unconditional $0 monthly, $0 NSF/OD, $0 item fees on digital line (12/1/2025 schedule)
- $1 opening; Pro 1.75% APY and Business Savings 4.00% APY with no balance tiers (stamp 7/1/2025; observed 9/1/2026)
- Incoming wires $0 plus originating-fee refund + $10 program
- Nationwide ATM surcharge rebate; automatic extra FDIC up to $2M on Business Savings
- V1BE free cash courier in Mid-Atlantic; real Virginia-chartered FDIC bank (Cert. 57968)
Cons
- Marketing 'no fees' conflicts with $5 domestic / $35 international outgoing wires and ancillary fees
- App ACH capped at $18,000/day and $100,000/month undercuts 'unlimited' claim
- Cash deposit regional only — VA/MD branches and V1BE, no national retail rail
- Integrations and multi-user controls thin vs specialist business banks; export-only QBO
- Digital products unavailable in PR/territories; reviews cite denials, freezes, hold friction
Verdict
Rho Business Banking
Rho is a fintech (Under Technologies, Inc.) with checking and cards at Webster Bank, a division of Santander Bank, N.A. ($250k FDIC). Rho Savings is a separate ADM sweep to $75M (400+ banks) with $25k average balance gate for interest. Rho Treasury is SIPC securities (T-bills + funds) at $50k min with 15–60 bp wrap. Published banking price is $0 for monthly fee, ACH, same-day ACH, domestic wires, and mailed checks. Differentiator is bundled AP, expenses, invoicing, and ERP integrations at $0 per seat. No cash or ATMs. Checking 0% APY. Fits incorporated cashless startups; not sole props or cash businesses. Re-verify savings APY and Treasury yields quarterly.
Primis Business Checking
Primis Bank (FDIC Cert. 57968) offers a digital trio: Unlimited (1% debit cash-back), Pro (1.75% APY), Business Savings (4.00% APY), each $1 to open and $0 monthly. Fee schedule (12/1/2025) prices outgoing wires at $5/$35 despite 'no fees' marketing. Channel limits bind before item fees: app ACH $18k/day and $100k/month. Savings auto-sweeps for up to $2M FDIC. Bill pay, positive pay, and cash-flow analytics included; not a full treasury stack. Strong yield-focused pick for modest-volume digital SMBs.