Switching to Karat Banking

Moving your business banking to Karat is straightforward. Use the checklist below to ensure a smooth transition.

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1. Open and fund your account

Apply at app.trykarat.com. You’ll receive confirmation by text and email once approved. To fund your account, go to Banking > Move Money > Add Money in your dashboard. You can begin using your virtual Banking Card immediately while waiting for your physical card to arrive.

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2. Update deposits and income sources

Provide your new Karat account details to any platforms or partners that send you payments, such as payroll providers, clients, marketplaces, or ad platforms. Make sure future direct deposits are routed to your Karat Checking account.

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3. Update recurring payments

Update any services that charge your previous bank account or card. This includes subscriptions, utilities, rent, insurance, software tools, and linked payment platforms such as PayPal or Venmo. For detailed instructions, see Update your subscriptions after switching to Karat.

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4. Transfer remaining funds

Move any remaining balance from your old account once pending transactions have settled. Keep sufficient funds in your old account for 30 to 60 days to avoid missed or delayed charges.

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5. Monitor and close your old account

After confirming that deposits and recurring payments are successfully routing through Karat, you can close your previous account. _{Karat is a fintech company, not an FDIC-insured bank. Banking and Card services provided by Grasshopper Bank, N.A., First Internet Bank of Indiana, and Cross River Bank, Members FDIC.}