Rho Pricing 2026: Business Banking $0/mo + 4.67% Treasury

Quick Answer

Rho Business Checking is free: $0 monthly fee, $0 ACH, $0 wires, no minimum balance. Rho Treasury yields up to 4.67% net on $50K+ balances (0.15-0.60% AUM fee). FDIC: $250K on checking + up to $75M on savings sweep. Rho Platinum card up to 2% cashback. AP automation included free.

Last verified: Sep 16, 2026.

At a glance

• Checking: $0/mo, $0 ACH, $0 wires, $0 minimum
• Treasury yield (net): up to 4.67% on $50K+ balances
• Treasury fee: 0.15-0.60% AUM, tiered
• FDIC (checking): $250K via Webster Bank
• FDIC (savings sweep): up to $75M via 400+ partner banks
• Card cashback: up to 2% (Rho Platinum)
• AP automation: Included free for Rho customers

The free tier economics

Rho monetizes through interchange on the corporate card and the management fee on Treasury rather than per-transaction fees on the operating account. That makes the pricing schedule one of the simplest in the US business-banking category. The Standard tier is free: $0 monthly fee, no minimum balance, unlimited domestic ACH, free domestic wires, and free Rho Corporate Card issuance. Enterprise pricing is custom and tracks multi-entity consolidation, advanced ERP middleware, and dedicated CSM rather than seat counts.

For a company processing $10M of card spend annually, interchange revenue to Rho at 1-2% is $100,000-$200,000/year — more than subscription revenue would be at $15-25/user/month for the finance team. The economics of free banking plus interchange monetization are why Rho, Mercury, Brex, and Ramp can all offer $0 base banking or card products.

Rho Treasury yield and fees

Rho Treasury is an SEC-registered investment adviser that allocates idle cash across US Treasury Bills, an ultra-short income fund, and a short-term bond fund. The minimum investment is $50,000 — one-fifth of Mercury's published $250,000 minimum. Up to 4.67% net yield, tiered by balance, updates daily; variable, not guaranteed, and principal can lose value (Rho Treasury product page, September 11, 2026).

The management fee is based on assets under management, billed monthly:

The yield shown on the Treasury dashboard is net of fees — it already reflects the management fee deducted. Fees are calculated daily and charged monthly (Rho Treasury help center, 2026).

The FDIC sweep advantage

Rho Business Savings spreads deposits across a network of 400+ FDIC- and NCUA-insured partner banks for up to $75,000,000 in coverage per entity. The sweep is through American Deposit Management Co. and its partner banks. Rho checking accounts are FDIC-insured up to $250,000 per entity through Webster Bank, a division of Santander Bank, N.A. (Rho, 2026).

For companies holding larger cash balances, the $75M sweep is the headline advantage. A company holding $10M in cash gets full FDIC coverage through the sweep; with a single bank, coverage caps at $250,000 and the rest is uninsured. Mercury offers up to $5M via sweep networks; Bluevine offers tiered coverage; Chase and other traditional banks offer the $250K standard FDIC limit. Rho's $75M is the highest in the category.

What about the AP automation?

Rho's AP automation is included for free for Rho checking customers. The platform includes invoice OCR, approval workflows, vendor management, and integration with NetSuite, QuickBooks Online, Xero, Sage Intacct, and Microsoft Dynamics 365 Business Central. No separate subscription fee applies. This is a meaningful differentiator — most business banking platforms charge separately for AP automation (Bill.com, Tipalti, Stampli, Airbase all charge subscription + transaction fees).

For mid-market teams that would otherwise evaluate Bill.com Corporate ($89/user/mo) or Airbase ($500-$2,000/mo), Rho AP automation included with banking is a compelling all-in value proposition. The AP feature set is not as deep as Airbase's PO-to-payment workflow or Bill.com's QuickBooks-native two-way sync, but for most SMB and mid-market companies, Rho's included AP automation is sufficient.

The international wire economics

Domestic wires are free and unlimited on the Rho Standard tier. International wires in USD are subject to correspondent bank fees, which Rho does not control. Rho charges an optional $15 SWIFT fee on international wires, and a 1% foreign currency conversion fee on top of the SWIFT network fee. International wires in USD can be subject to additional fees set by recipient, correspondent, or intermediary banks, in addition to the SWIFT network. Rho charges a $30 international wire recall fee for outgoing wires that need to be reversed (Rho pricing page, September 2026).

For US companies paying international vendors, the Rho fee stack is competitive against Mercury (which charges similar SWIFT correspondent fees) and Bluevine (which charges more for international). For multi-currency accounts and global treasury, Mercury has the edge.

How Rho compares to Mercury

Rho and Mercury are the two leading US business-banking fintechs.

Rho is the stronger choice for companies holding large cash balances ($10M+), for companies needing maximum FDIC coverage, and for companies wanting AP automation included with banking. Mercury is the stronger choice for global companies with significant non-USD payroll and international vendor payments, for companies wanting Mercury-tier integrations with global payment rails, and for companies that need Mercury-tier CSM (Rho, September 2026).

What enterprise buyers should do next

Three actions for organizations evaluating Rho in 2026.

1. Model the Treasury yield against your idle cash balance. For companies with $5M+ in idle cash, the Treasury yield difference between Rho (4.67%) and Mercury (3.89%) on $5M is roughly $39,000/year in yield alone — a meaningful offset against any platform fee.
2. Pressure-test the AP automation depth vs alternatives. Rho's AP automation is sufficient for most SMB and mid-market needs. For deeper procurement and PO-to-payment workflows, Airbase or Stampli is the right choice. Compare total cost of ownership, not just banking fees.
3. Negotiate the FX markup on international wires. The 1% foreign currency conversion fee is the most negotiable line item. Volume commitments can reduce it.

What to watch next

Three near-term datapoints. First, the Treasury yield trajectory — Rho Treasury's yield tracks 90-day Treasury Bill rates, which the Fed's September 16, 2026 hike (25bp to 3.75-4.00%) directly affects. Second, the international wire fee evolution — Mercury and Bluevine are both expanding global payment rails; Rho's international pricing is competitive today but could face pressure as Mercury builds out global ACH and SWIFT integration. Third, the Rho Platinum card cashback terms — the 2% cashback on up to $1M of annual spend is generous relative to Mercury (1.5% flat) and Ramp (0-1.5% variable as of 2026). Rho's card economics are a key retention lever for high-spend customers.