How to Open an Innovator Savings Account

Running a business keeps you busy—saving for the future shouldn’t slow you down. With our 3x award-winning digital banking platform, you can open an Innovator Savings account in just a few minutes, from any device, anywhere. Whether you're planning your next big move or just carving out a moment between tasks, getting started takes only a few steps. And if you need a hand, our easy-to-follow guide will walk you through the process.

How to Open An Account

You can start your application from a few different places, such as our homepage, the Small Business Savings page, or even directly through our mobile site or app. No matter where you begin, the steps to open your account are the same. Here's what the first screen looks like:

1. Start Your Application

Once you’ve reached the application page, we'll start off by collecting some basic contact information. To confirm your identity and set up your profile in our secure application portal, we’ll send a one-time passcode to the email you provide.

1. Fill in your first name, last name, email address and cell number.
2. Click Continue
3. Check your inbox for an email from us with a one-time passcode
4. Copy the one-time passcode provided to you in the email
5. Paste the code into the online form to verify your identity and resume your application.

Note: If you don't see the email right away, check your spam or junk folder—or click Resend Passcode to try again. In some cases, there may be a slight delay due to your internet connection or your email provider’s server response time.

2. Tell Us About Your Business

Next, we’ll ask for a few key details about your business to help us understand how you operate and set up your account properly. This includes things like your business name, structure, tax ID, industry, and where you're located. It only takes a minute or two to complete.

3. Information About You & Your Team

As part of the application, we’ll need a few details about you and anyone else who has a significant stake in the business. This includes personal information like: name, email, cell number, physical home address, date of birth, social security number, and business role.

Note: Beneficial owner information is required for each individual who owns 25% or more of the company, directly or indirectly.

4. Fund Your Account

To complete your account setup, you’ll need to choose how you'd like to fund your new account. When opening an Innovator Savings account, we will ask for a minimum deposit of $100, and you will have two options for funding:

• Bank Login: Use your existing online banking credentials to securely connect your external account and transfer funds instantly.
• Manually Entry: Provide your existing bank account number and routing number to initiate a transfer from your external account.

Note: Funding deposits are processed either through an ACH transfer using account and routing numbers (manual entry) or via a secure connection to your external bank account at another financial institution via Plaid (bank login). The transaction for your funding deposit will not be processed until your application is approved and your new account is officially opened in our system. If, for any reason, your application is not approved, the deposit will not be completed and no funds will be withdrawn from your external bank account.

5. Review Application & Attestations

Before you submit your application, you’ll have a chance to review all the information you’ve provided to make sure everything looks accurate. At this stage, you’ll also be asked to review and agree to a few standard disclosures and attestations. 

These are required to confirm that the information you've provided is truthful, that you're authorized to open the account on behalf of the business, and that you understand and accept the terms of the account. Take a moment to confirm your details — this helps avoid delays and ensures a smoother approval and account opening process.

Note: All applications are subject to our Prohibited and Restricted Activities Policy. Certain business types or activities may not be eligible for account approval. We encourage you to review the policy before submitting your application to ensure your business meets the requirements.

What Happens Next

In most cases, applications are reviewed and approved instantly, and you’ll be able to start using your account right away. However, in some cases, we may need a little more time to take a closer look. If that happens, we’ll follow up by email with next steps or requests for any additional information needed to complete your review.

If You’re Instantly Approved

Great news — your account is ready! You’ll receive:

• A welcome email with login instructions for enrolling in online banking
• Immediate access to online and mobile banking upon new user enrollment
• The option to add authorized signers and/or open an Innovator Business Checking account
• Links to download our mobile app in the Apple App Store or Google Play Store
• Tools to link external accounts, deposit checks, pay bills, and more

If We Need More Time to Review

No worries — we just need to verify a few details before we can finalize your application. This could include:

• Verifying your identity and/or address
• Reviewing additional business documentation
• Confirming company ownership, directors, and/or members
• Additional information is required to comply with regulations

Note: You’ll receive an email within 1-3 business days outlining next steps. Be sure to check your inbox (and spam folder) for messages from us. Our team may reach out to you directly if clarification is needed.  In the meantime, there’s nothing else you need to do. 

Opening a Second Business Account

If you’ve already opened an account with us and are looking to open a second, the process is slightly different. To learn how to open a second business account by returning to our secure application portal or directly from within your existing online banking experience, refer to our step-by-step guide How to Open a Second Business Account.

Support

For questions or assistance with your application, you contact Client Services Monday-Friday 9am-9pm ET by dialing 888.895.9685 or emailing support@grasshopper.bank.

For your convenience, we also offer support via secure message or chat.