How does Bonsai's business banking work?

Save, manage and spend the funds you're earning in Bonsai with a simple and integrated business banking solution.

Updated over a week ago

Please note Bonsai's business banking solution is only available to US users.

What is Bonsai's business banking?

You'll find it under the Balance section. It's a bank account dedicated to your business funds. Receive your invoice payments directly in your account and use the dedicated spending card for your expenses.

Here's what your banking dashboard looks like:

Your "Available Balance" is your main balance. This is where all incoming transfers will arrive, and outcoming transfers will leave from. Spending from your Bonsai business card is also deducted from this balance.

How do I use the virtual and physical cards?

Just like you would any other bank. You'll receive your physical card in the mail and you can add your virtual card to your phone's wallet for easier access.

You can use your physical card to take money out at ATMs.

What are envelopes and how do I use them?

Envelopes are an easy way to budget your funds into different buckets (e.g. tax savings, equipment, or anything else). To move funds between your balance and envelopes (and vice versa) you can use the "Transfer Funds" button, and the "Within Bonsai" option.

Send any incoming funds to your account directly into specific envelopes to automate your budgeting. Just click on Edit Automations and New Automation:

How do I see my account info?

Clicking on "View Account Info" to display your account number and routing number. This is the information you will use to send ACH bank transfers to fund your Balance account from your online banking, or set it up as a payout method for other payment platforms.

How do I transfer money outside of Bonsai?

Clicking "Transfer Funds" and "Outside Bonsai" will let you send outbound ACH bank transfers to an external bank account, such as when you want to pay yourself from your Balance.


Can I use business banking to withdraw funds from an ATM?

Yes you can! There is a daily limit of $300 for ATM withdrawals.

How long to transfers take between Bonsai Payments and my Balance

For now the timelines will be the same as transferring to another business account.

What are the fees involved with business banking?

As of right now, there are no fees incurred.

Who is eligible for business banking?

Currently, only users in the United States are eligible to use business banking.

What is "Evolve Bank & Trust?"

When you activate business banking through Bonsai and store funds in your Balance, those funds are held at Evolve Bank and Trust (Member FDIC)

How do I get my physical Bonsai card?

When we're ready to send you your physical card, we will prompt you in-app for the information we need to get you that card!

Is my "available balance" a summary of my envelopes?

No, each envelope is its "own" individual balance within your Balance.

© 2023 Bonsai Technologies Inc - Bonsai partners with Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC. Bonsai cards are issued by Celtic Bank. Bonsai is not a law firm, and does not provide legal services, advice, or representation.

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