North One
Smart business banking with built-in budgeting envelopes.
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North One is a digital business banking account designed for entrepreneurs, freelancers, and small business owners. Its standout feature is "Envelopes" — virtual sub-accounts that let you set aside money for taxes, payroll, software subscriptions, and other recurring expenses. Think of it as digital cash envelope budgeting for your business.
Our Scores
4.3
Ease of Use
4.1
Features
4.2
Value
4.0
Support
Pros & Cons
Pros
- ✓Envelopes feature for automatic tax and budget separation
- ✓Integrates with QuickBooks, Wave, FreshBooks, and Stripe
- ✓Fast account opening (as little as 3 minutes)
- ✓Mastercard business debit card
- ✓US-based customer support
Cons
- ✗$10/month fee — not free like Relay or Novo
- ✗No interest earned on deposits
- ✗US-only
- ✗No business lending products
Best For
- →Freelancers who want envelope-style budgeting for business
- →Entrepreneurs who want to separate tax money automatically
- →Small businesses that want integrated payment processing
- →Those who prefer a flat monthly fee over percentage-based costs
Not Ideal For
- ✗Businesses needing multi-currency accounts
- ✗Those who want a free account
- ✗International freelancers
Pricing
North One Standard
$10/month
- ✓Business checking
- ✓Unlimited Envelopes
- ✓Debit card
- ✓ACH and wire transfers
- ✓Accounting integrations
Frequently Asked Questions
What are North One Envelopes?
Envelopes are virtual sub-accounts within your North One checking account. You can create an Envelope for taxes, one for software expenses, one for payroll — and money stays separate without needing multiple bank accounts.
How does North One compare to Relay?
Both offer sub-account budgeting. Relay is free and offers up to 20 sub-accounts. North One costs $10/month but has a simpler interface. For most freelancers, Relay offers more value at zero cost.
Is North One FDIC insured?
Yes. North One banking services are provided by The Bancorp Bank, N.A., Member FDIC. Your deposits are FDIC insured up to $250,000.
Other Banking Options
Tax Information Notice
This content is for informational and educational purposes only. It does not constitute tax, legal, or financial advice. Tax laws change frequently. Always consult a qualified CPA or Enrolled Agent for your specific situation.