Rho Startup Deals & Discounts

Our listing for Rho is a deposit bonus: $1,600 back when a new account keeps at least $20,000 for its first 60 days. None of the Rho pages we reviewed (home, pricing, cards, startups and rewards) mention that bonus, so confirm the terms with Rho before moving money for it. Note also what the headline figure is. Our catalog's $20,000 is the minimum balance, while the reward itself is $1,600, or 8% of that balance.

That is still generous against what the money would earn elsewhere. Parked in Rho's Treasury product at the advertised yield of up to 4.57% net, $20,000 earns about $152.33 over two months, so the bonus is roughly 10.5 times that.

Compared with other banks in our catalog:

• Mercury lists $500 back for $10,000 deposited within 90 days.
• Brex lists up to $500 off and 50,000 points for $100,000 in deposits.

In cash, Rho's $1,600 is the largest of the three, and its $20,000 balance is double Mercury's $10,000, though Brex's points need $100,000 on deposit. The dollars only come to you if the company can leave $20,000 untouched for two months.

A seed-stage company with a US entity and more than $250,000 in the bank. Checking is insured to $250K per bank, and Rho's savings product advertises coverage of up to $75M through a partner sweep network, so a freshly raised round has a place to sit.

A team that wants a corporate card with no personal guarantee. Rho underwrites to the business, and it does not run a credit check on the founder.

A founder who spends mainly on SaaS and ads in US dollars. The cashback rates below apply to that kind of spend.

Skip: a company without a US entity. Applying for the card needs US incorporation and an EIN, and our listing notes a US operating address.

Skip: a business that pays suppliers abroad every week. Foreign currency transfers carry a 1% fee, so a $10,000 payment costs $100 in conversion.

Skip: a company that cannot park $20,000 for two months. The bonus is the headline reason to switch; without the balance, the account is simply a fee-free account.

Rho publishes this fee table: same-day ACH, wires and checks, subscription, minimum-balance, per-user and domestic wire-recall fees are all $0; a foreign currency transfer or conversion costs 1%; recalling an international wire costs $30; an optional SWIFT fee is $15. Corporate cards carry no annual, subscription or per-card fee.

Cashback depends on payment terms and on Platinum status (Platinum applies when payroll and revenue run through Rho, 50% or more of assets sit there, and a card is open):

Terms	Standard	Platinum	On $100,000 of spend
Daily	up to 1.25%	up to 2%	$1,250 to $2,000
Monthly	up to 1%	up to 1.75%	$1,000 to $1,750

Monthly Terms open at $25,000 held at Rho, or $75,000 including linked outside accounts. Cashback is a statement credit that must be redeemed within 12 months, and categories such as utilities and non-US transactions are excluded.