What is Heard Business Banking? – Heard

Heard Business Banking*, powered by i3 Bank, is a free business checking and savings account built right into your Heard experience. It plugs into the rest of Heard (bookkeeping, tax, and reporting) the same way any other connected account does.

This article explains what Heard Business Banking is, what's included, who can use it, and how it fits with the rest of Heard.

What Heard Business Banking is

Heard Business Banking is an embedded business checking and savings account inside Heard. Here's what "embedded" means in practice:

The account is opened and verified inside Heard. No separate app, no second login.
Banking services are provided by i3 Bank, Member FDIC. Banking technology is powered by Unit Finance, Inc.
Once your account is open, it connects to Heard through Plaid, just like any other bank. Transactions flow into your bookkeeping automatically.

It isn't a separate product or a new subscription. It's simply one more way to set up a business bank account. Especially useful for therapists who are just starting a practice and don't have one yet.

What's included

Every Heard Business Banking account comes with:

Free business checking. No monthly fees***, no minimums, no overdraft fees, unlimited transactions.
Free business savings. Included alongside the checking account.
1% Annual Percentage Yield (APY)** on your balance. Most business checking accounts earn nothing. The savings account earns 1% APY from day one, and the rate increases as your balance grows: 1% on any balance below $50,000, 1.875% on any portion from $50,000 to $249,999, and 2.5% on any portion of $250,000 or above
A Heard Visa® Debit Card. Issued with your account by i3 Bank, with both virtual and physical card options. Use it anywhere Visa is accepted.
Auto-sync with your Heard bookkeeping. A one-time Plaid connection handles it from there.
FDIC insurance. Banking services are provided by i3 Bank, Member FDIC. Deposits may be eligible for FDIC insurance up to $3 million through a network of participating banks (each insured up to $250,000 per depositor, per bank), provided all requirements for pass-through insurance are satisfied.

Who Heard Business Banking is for

Heard Business Banking is available to every Heard member. You can open an account during signup or at any time from your Heard dashboard.

It's especially useful if you:

Don't have a business bank account yet
Use a personal account for your practice
Want a Plaid-compatible account that auto-syncs to Heard
Want a second account that lives alongside your current bank

How to open an account

Opening an account is quick and lives inside your Heard dashboard.

Go to the Heard Banking page. From your Heard dashboard, click Heard Banking in the left-side menu. The application opens directly. There's no separate signup or app to download.
Submit your information. The application asks for basic personal and business details: your name, address, date of birth, Social Security number, business name, and EIN (if you have one). Sole proprietors without an EIN can apply using their personal information.
Get approved. Most applications are approved quickly. If additional documents are needed, you'll receive an email with what to send.
Fund your account. Once approved, you can move money in via ACH transfer from another business or personal account.
Start using your account. Direct your client payments to your Heard Business Banking account, and use your Heard Visa Debit Card for business purchases. Transactions sync to your Heard books automatically.
Connect to your bookkeeping. From your Heard dashboard, connect your new Heard Business Banking account through Plaid. Once it's linked, transactions flow into Heard's bookkeeping without any manual uploads or matching.

How Heard Business Banking fits with the rest of Heard

Once your Heard Business Banking account is open and connected via Plaid, the rest of the Heard experience works the way it always has, with less friction than before:

Bookkeeping. Transactions sync into the Heard ledger automatically.
Tax prep. Income and expenses flow into year-end filing like any other connected account.
Other banks. A Heard Business Banking account can sit alongside any other business accounts already connected to Heard.

A Heard Visa® Debit Card comes with the account so you can spend directly from it like any other business checking account.

FAQs

Can I set up multiple accounts? Yes, Heard Banking launches with both a checking and savings account. You can set up multiple accounts to allocate funds however works best for your practice, whether that's separating operating expenses, setting aside taxes, or building a reserve.

What if I don't want to deal with switching my direct deposits or payments? You don't have to. You can use Heard Banking however it fits your setup — some members use it as their main account, others use it alongside their existing bank. There's no requirement to move anything over.

Can I connect my Heard bank account to tools like QuickBooks or Stripe? Yes, you can securely link it to tools like QuickBooks, Xero, and Stripe for seamless bookkeeping and faster payouts.

Need help?

For anything tied to your Heard bank account, please reach out to Heard Business Banking Support directly. The fastest path is the chat icon on the Heard Business Banking page inside Heard. For more details, see: Getting help with Heard Business Banking.

*Heard Business Banking is a financial technology, not a bank. Banking services are provided by i3 Bank, Member FDIC. The Heard Visa® Debit Card is issued by i3 Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

Deposits may be eligible for up to $3 million of FDIC insurance through a network of participating banks. Each participating bank is FDIC insured up to $250,000 per depositor, per bank. Accounts are eligible for pass-through deposit insurance only to the extent pass-through insurance is permitted by the rules and regulations of the FDIC, and if the requirements for pass-through insurance are satisfied. There may be a risk that pass-through deposit insurance is not available because conditions have not been satisfied. In such cases, funds may not be fully insured in the event the insured depository institution where the funds have been deposited were to fail.

**Annual Percentage Yield (APY) is variable and subject to change after account opening. Rate is compounded monthly and credited monthly.

***No account or domestic transaction fees. Some foreign transaction fees may apply in limited circumstances.