Common questions
about Rho

Rho is a business banking and finance platform. You can manage cash and expenses, control spend, pay bills, send invoices, and automate accounting in one place, with support available 24/7.

No. Rho is a financial technology company, not a bank. Checking account and card services are provided by Webster Bank, a division of Santander Bank, N.A., Member FDIC, and by Lead Bank, Member FDIC. Savings account services are provided by American Deposit Management Co. and its partner banks.

Your business must be incorporated in the United States, and it must either have a US operating address or have at least one owner based in the United States with a valid tax identification number (SSN). Founders who live outside the US can apply as long as the company meets those requirements.

Rho does not offer accounts to sole proprietorships or unincorporated businesses. If you use a virtual or registered agent address, you also need a physical operating address. Businesses in certain sanctioned or high-risk locations, and in some high-risk industries such as betting and cannabis, are not eligible. See the location list and the industry list for details.

Every applicant provides corporate formation documents, business and industry information, a tax ID, and information about beneficial owners and control persons. Additional documents may be requested depending on your business. Companies applying for a Rho credit card also provide financial information for underwriting. If you have questions while you apply, you can reach support through the chat in the lower right corner of the application.

Rho charges no monthly, per-user, or minimum-balance fees on business checking, and $0 Rho fees on domestic ACH and wires. International wires in USD can carry fees set by recipient, correspondent, or intermediary banks. Other fees can apply on some services, so check Rho's pricing page for the full list.

It depends on where your money sits. Rho Checking is FDIC-insured up to $250,000 through Webster Bank, a division of Santander Bank, N.A., Member FDIC. Rho Savings sweeps deposits across a network of 400+ FDIC- and NCUA-insured institutions for up to $75 million in FDIC insurance. Rho Treasury holds securities rather than bank deposits and is protected by SIPC up to $500,000, including $250,000 for cash, which covers custodian failure and not market loss. FDIC insurance protects against the failure of the insured bank, not the failure of Rho.

Rho support is available 24/7 by live chat from your dashboard, by phone at 1 (855) 743-8746, or by email at clientservice@rho.co.

Rho offers two options. Rho Savings is a savings account with a $25,000 minimum and expanded FDIC insurance through a sweep network. Rho Treasury is an investment account, not a bank account, that holds short-duration securities such as US Treasury bills and money market funds in your company's name. Current rates are on Rho's Treasury page.

You set a spending limit on each card, either recurring, fixed, or single-use. You can limit a card to up to 20 specific merchants or to certain merchant categories, turn international spending off, and set the dates a card can be used. You can also lock a card instantly.

Yes. Cardholders can text a photo of a receipt to Rho's short code or forward it to receipts@rho.co, and Rho matches each receipt to the transaction. Replying to a transaction alert with a receipt also attaches it. Texting requires a U.S. or Canada mobile number. You can also upload receipts from the mobile or desktop app, where you choose the transaction yourself.

Rho has native integrations with NetSuite, QuickBooks Online, Sage Intacct, and Puzzle, and supports bank feed connections to Xero and QuickBooks Online. If you use QuickBooks Desktop, you can download a CSV of your transactions and upload it.

Yes. Rho Invoicing is part of your Rho business account and costs $0 per invoice and $0 per month. Your customers do not need a Rho account. They can pay by ACH, domestic wire, check, or card. Rho charges $0 on domestic ACH, domestic wire, and check payments received. Card payments cost 2.9% + $0.30 each and are paid by your business.

Yes. Rho can incorporate your company as a Delaware C-corp or an LLC and file on your behalf. For a C-corp, that includes your Delaware certificate of incorporation with attorney review and your EIN application (Form SS-4) submitted to the IRS.