NorthOne View website

An online bank that's perfect for small business, sole traders and freelancers

Developer description

NorthOne is a business banking platform made for American startups, small businesses, and ... More

Editor's review

Published 2 Jul 2019

Do you remember those heady days when the main people that our banks existed for were the people who invested in it - regular folks like you and me? It wasn't so long ago. The thing that kept banks in the business of banking back then were the small and medium sized businesses and mums and dads. It was their regular injections of cash that forged the great banks as we know them today. Unfortunately, the whole emphasis changed when big companies started to throw their weight around and shareholders became the major priorities of the banking world. In fact, the last few years have been a bit of a nightmare for small and medium sized businesses who are really only now starting to recover from the GFC in 2008-9.

So it's a very pleasant surprise to see new banks emerging with the same spirit that those early banks did. Banks that have geared their business model towards helping out new start-ups, small business and freelancers who are on the frontline of a new look America. It's these companies that will forge forwards and provide all the goods and services that America thrives on. They will also end up providing many of the jobs that will keep America working and will go some way to redressing the balance between the haves and the have nots in the business world.

NorthOne is an online only, business banking platform for iOS that's designed specifically for American start-ups, small businesses and freelancers. It's simple to create a business bank account and it will only take you about 3 minutes to be up and running. It carries a whole bunch of great features that compare favorably with Main Street banking but the big difference here is that that it gears it's transactions in favor of smaller businesses and helps make it easier for them to face the challenges of staying afloat and ultimately thriving. 

Being online only, NorthOne has no branches and there's no paperwork involved. It does, however, have many time and money saving features.  For a start, it's Government assured with company debit cards, dedicated tax accounts - where you can share account numbers, transaction details and custom reports, easy payments direct from your phone, mobile check deposits - you'll never have to wait in line again - and ATM withdrawals and deposits making banking simple. You can give read-only account access to your bookkeeper so you won't have to play the middleman ever again and your team - who all have separate logins - can have account access so they can send payments and deposit money at will. NorthOne makes it easy to understand your revenue and spending and you won't need a finance degree to comprehend the system so it's perfect for sole traders, freelancers and small teams. However, if you do get stuck, there's 24/7 live chat support to help you out.

We tend to take small and medium sized businesses for granted a bit these days. The media is filled with stories about mega huge businesses like Apple, Amazon and McDonalds but it's rare you see a news story about small suburban business. They don't tend to make the front pages of the newspaper yet they are the lifeblood of our societies. In many cases, their workers are the ones who will make their way up the business ladder and their leaders will be the ones who go on to run the top businesses around the country in a decade or two. It's wise for banks to nurture them. A bank was once the champion of the small business owner. It made their lives easier and their companies successful.  Businesses still need that champion, but today’s banks have dropped the ball. With the emergence of new technologies, new business models and the change in customer behavior in the last ten years it's now possible for a bank like NorthOne to become the go-to place for small business. The app is now available for download for iOS through TestFlight.

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