Free banking and bookkeeping for small businesses

PROFIT automatically creates and manages your P&L, balance sheet and cash flow statements while providing you with free checking accounts and employee debit cards.

 

Trusted by

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FREE All-in-One Banking & Bookkeeping

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Free Checking Account

No hidden fees or minimum balance required.  Sign up in just 10 minutes.

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Free Employee Debit Cards

Eliminate expense reports by issuing your employees virtual or physical debit cards.

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Free Bookkeeping & Auto-reconciliation

Focus on growing your business while we categorize and reconcile your transactions.

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Free Receipts
Collection

We send your employees a text to reply with a picture of their receipt, we then match it to their transaction

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Free Financial Statements

We auto-generate your P&L, Balance sheet, and Cashflow statements to help you track profitability

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Free Bill Pay

Pay vendors for FREE via ACH or we can mail them a check on your behalf

How does it work?

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Sign up for a free checking account online in only 10 minutes.

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PROFIT automatically builds and updates your P&L, balance sheet and cash flow statements.

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If you like, you can immediately issue your team physical or virtual debit cards you control.

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Start spending money as usual, PROFIT automatically begins to auto-reconcile your transactions to your financial statements using its built-in accounting software(No need to use or integrate with external accounting software)

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Your PROFIT cardholders are sent a text the moment they use their card to reply back with a photo of their receipt. We automatically collect & match receipts to the correct transactions.

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Conveniently track your financials and all your team's spend on PROFIT.

Your Money & Data is Safe

FDIC insured

Your Money & Data Is Safe

Deposits are insured up to $250,000 through our partner bank Evolve Bank & Trust Member FDIC.

real person support

U.S. Real Person Support

Call (800) 899-4054 and talk to a real customer support agent Mon-Fri 9am-5pm EST.

security and privacy

Security & Privacy

We use bank-grade security encryption. Customer privacy is also a top priority & your data is highly secured.  

Our story

PROFIT was started by two small business owners who found banking costly and accounting software complicated to manage. They were fed up with paying all kinds of banking and accounting software fees just to manage their Company’s finances.  

Luckily these two Software Engineers decided to build the world’s first online bank with built-in accounting software that automatically creates and manages a company’s P&L, balance sheet, and cash flow statements, saving business owners time and money.

Both founders are minority business owners who know what it’s like to be underserved hence why they offer PROFIT for free to all business owners.  PROFIT’S mission is simple, “to make small businesses more profitable”.

OPEN AN ACCOUNT IN 10 MINUTES

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Tell us about yourself

Tell us about your business

Get your PROFIT bank account

Applying will NOT affect your credit score in any way.  We will NOT check your credit history.

Benefits

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Save on fees with our free business checking account

FDIC Insured

No monthly fee

No minimum balance required

No hidden fees

Free ACH transfers

Accept ACH and check deposits with no fees

Free automated bookkeeping

We reconcile your transactions and provide you with your P&L, balance sheet, and cash flow statements.

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Issue your employees physical or virtual debit cards

No more sharing cards.  Save time by eliminating employee reimbursements and expense reports.

We collect & match your receipts

Cardholders are sent a text the moment they swipe their card to reply back with a photo of their receipt. We automatically collect & match receipts to transactions, saving you valuable time. 

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Employee
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Owner
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Fund your employee debit cards on-the-go via text

Employees can text PROFIT their spend request and we forward it to you for approval.  Reply "Yes" and their card gets funded immediately.

All your expenses tracked & managed in one place 

Convenient and easy to track

Adjust spend before it's too late

Track spend by:  Employee, Category & Merchant

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BILL PAY

Pay vendors via ACH, wire, or we can even mail them a check for free.

Superior banking for superior results

FDIC insured
 
Bill Pay
 
Open an account in under 10 min.

No hidden fees

No minimum balance required

Bookkeeping & Auto-Reconciliation


P&L, Balance sheet and Cash flow statements 
 
Auto-Receipt collection & matching

Text-to-Fund Employee debit cards

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Other Banks

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Frequently Ask Questions

How does PROFIT make money if they are providing me with FREE banking and automated-bookkeeping?

PROFIT makes money a couple of ways.  
1. PROFIT gets part of the interchange fees collected by Mastercard from merchants when a PROFIT debit card is used.
2. If a client wants to pay for premium bookkeeping services PROFIT offers plans starting at $149/month. 
3. The first two employee debit cards are free, additional employee cards are $5/month. 
4. Your first checking account is free, additional checking accounts are free if you spend at least $500/month on the account's debit card,  if not they are $9/month.

What type of companies can open a PROFIT account?

PROFIT accepts Corporations, LLCs and  Sole Proprietors that were incorporated in the U.S. only.  See more details here.

Is my credit affected when I apply for a PROFIT business bank account?

No, we do not run your credit history, so it will NOT impact your credit score.

What do I need to open an account with PROFIT?

1. A picture of your valid driver's license front & back.
2. A picture or copy of your EIN Tax ID verification letter (may not apply to Sole Proprietors).
3. A picture or copy of your company's articles of incorporation (does not apply to Sole Proprietors).  See more details
here.