ATM LIMIT: NONE
ATM FEE: FREE
PREMIUM OPTION: NO
APP: iOS, Android
CUSTOMER SUPPORT: Email, Live Chat
MONTHLY FEE: $0
LOADING OPTIONS: Bank transfer or Check
CARD CHARGE: $0
What Is The Hatch Debit Card? 📖
The Hatch debit card is designed with small businesses in mind. It enables them to get the clarity and transparency that they need to protect their prosperity. You only need to pay a modest monthly fee for access to the card, and there are many generous rewards to look forward to with this checking account. If you’re a startup, sole trader or an independent contractor, there’s many reasons to believe that Hatch could be a great match for your specific needs.
How Does The Hatch Debit Card Work? 👨🏫
The Hatch debit card has become a favorite amongst small business owners due to the exclusive discounts that it offers. It also offers transparent pricing and won’t charge you non-sufficient funds or NSF fees. However, it doesn’t come with a savings account, and there are no physical branches for you to visit as everything is carried out online. This could be a drawback for small business owners who do like to speak to banking staff in person. Nonetheless, you won’t be charged sizeable fees for using Hatch, and you can receive cash rewards of up to 5%.
Key Features Of The Hatch Card ⚙️
Your Hatch account will come complete with a Hatch Debit Cashback. This can pay you up to 5% cashback on certain purchases that you make. These include 5% on car rentals, 4% on dining and hotels, 3% on business vendors and 1% at some gas stations. However, these purchases do need to be made with participating retailers. Your cashback will appear in your account automatically. You won’t need to do anything to get hold your cashback. Another big draw is the lack of NSF fees. You won’t have to pay these as long as you don’t go overdrawn by more than $50.
You can also make five free cash withdrawals a month with Hatch from 55,000 Allpoint ATMs. You’ll only need to pay a dollar for each withdrawal you make subsequently, as long as the cash machine is part of the Allpoint network. It’s also simple to send money to others via the Hatch Dashboard. You won’t need to pay for the first five withdrawals you make each month, but subsequent ones will generate a $1 fee.
There are several other perks you should be aware of. These include extended warranty coverage for any purchases that you make and discounts on Mastercard’s Global Airport Concierges Services. Other benefits include car rental insurance. These are the kind of benefits one might normally associate with a business credit card so should make Hatch appealing for small business owners who don’t want to use one of these.
How Much Does The Hatch Card Cost? 💸
Hatch is well-known for its transparent pricing. It will cost you $10 per month to use a Hatch Business Checking Account. This is substantially lower than what you’ll be charged for many other banking services for small businesses.
The Hatch Card App 📱
The Hatch Business Checking app is available to Android and iOS users. This allows you to manage your account on the move wherever you are.
Is The Hatch Card Safe And Secure? 🔒
The Hatch banking platform is supported by big-name finance organization LendingClub Bank alongside Equal Housing Lender and Member FDIC. Any deposits that you make up to $250,000 are protected, with the online platform being powered via banking-grade encryption technology. Your Hatch debit and credit card will be powered by MasterCard and Visa, who obviously have world-class protection in place.
Advantages of the Hatch Card 👍
- Modest fees
- Clear, transparent pricing
- Exclusive discounts available for small business owners
- No NSF fees
Disadvantages Of The Hatch Card 👎
- No physical branches
- No savings account available
If you are a small business owners seeking own a new way to manage your money, Hatch may be ideal for your needs. It also comes with an optional credit card facility called the Hatch Business Line of Credit Visa Card. This is similar to the kind of no annual fee small business credit card that you may have used in the past. However, you’ll need to wait for an invite from Hatch if you wish to take advantage of this. You are more likely to be invited once you’ve built up an impressive payment history and you have shown evidence of good money management. The credit limit you’re offered will be determined by factors such as your specific situation. You can avoid high interest rates by paying your balance off each month.
A new service called Hatch Sprout is being prepared to help you form and register a business. It will be able to assist with incorporation, help you register your EIN and support registered agent fee payments.
The transparent fees offered by Hatch have proved to be very appealing for all kinds of small business owners from various sectors. It’s also worth noting that your first five paper checks each month will also be free, with a $1 charge being incurred each time after that. Hatch can also help you avoid debit card replacement fees and fees for foreign transactions alongside ACH transfers.
The sign-up process is straightforward and simple. You’ll just need to ensure you have important details available like your tax ID number or social security number. You may also need to provide copies of official documents including those provided by the Government.
There are also several further perks that may be of interest to you. These include 20% off Constant Contact, $200 in Indeed Sponsored Job Credits and six months of half-price Quickbooks. You’ll also get a two-week SEMRush trial, and 30 days of free We Advertise Your Business activity. Should you need to speak to someone at Hatch, you can reach the customer service team by calling 888-516-2369.
Most small businesses will be eligible for Hatch. The company counts a wide range of independent contractors, LLCs and corporations amongst its customer network. It may also be great for you if you’re a freelancer wishing to keep your business finances separate from your personal ones.