What is Azlo?
Gust Launch has collaborated with Azlo (banking services provided by BBVA USA, member FDIC) to offer digital business banking with no maintenance fees. Eligible Gust Launch customers with an Accelerate or Raise subscription can apply for an Azlo account directly from their Gust Launch dashboard.
With Azlo, Gust Launch users get all the following features at no cost:
- A business checking account, FDIC-insured through BBVA USA.
- An Azlo Visa® business debit card.
- Access to over 55,000 fee-free ATMs.
- Mobile check deposits with the Azlo app.
- Bank-to-bank (ACH) payments and transfers.
- Instant transfers to your other Azlo accounts.
- Unlimited digital invoicing.
One thing to keep in mind: since Azlo is online-only, they can't accept cash deposits. If your business handles cash regularly, they may not be the right banking solution for you. See How can I open a bank account on my own? for more information about applying for bank accounts outside of Gust Launch.
Azlo's eligibility requirements
In order to open an account with Azlo, you and your company's beneficial owners (anyone who owns 25% or more of your company) must meet the following requirements:
- No business entities may be beneficial owners.
- The CEO and all beneficial owners must be at least 18 years of age.
- The CEO and all beneficial owners must be US citizens or US residents.
Note: Azlo also cannot offer accounts to businesses in certain industries (such as internet gambling, certain money services businesses, and businesses that exchange cryptocurrency or cannabis).
If you are not eligible to open an account through Azlo, you can still open a bank account for your business. For more information see How can I open a bank account on my own?.
Last updated on January 20, 2020