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Karat Banking is designed to be simple and transparent. We do not charge hidden fees, and we do not allow overdrafts. Transfers or purchases that would result in a negative balance are automatically declined. Because overdrafts are not permitted, we do not charge overdraft fees.

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Deposits

We do not charge fees for making deposits. Transaction limits may apply depending on the type and frequency of transfers.

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Withdrawals & transfers

Fees may apply depending on the transfer method and your account tier.
  • Domestic outbound wire: $20 per wire (waived for Karat Premium)
  • International outbound wire: $40 per wire

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Karat Premium

Karat Premium has a $20 per month subscription fee per organization. This fee is automatically waived if your organization maintains an average monthly balance of $35,000 or more. Premium members receive additional benefits, including higher APY and free domestic outbound wires.

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International transaction fee

A 1% transaction fee applies to any ATM or point-of-sale (POS) transaction conducted outside the U.S. or online transactions conducted with a merchant outside the U.S. Karat is a financial technology company, not a bank. Banking services provided by Grasshopper Bank, N.A., Member FDIC. The Karat Visa® Business Credit Card is issued by Cross River Bank, Member FDIC, and pursuant to a license from Visa️ USA.