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Grasshopper Bank Transition - FAQ

Edited

General Information

  • What is changing?

    • Ascend is transitioning to a new banking partner, Grasshopper Bank. This means there will be updates to account details, including new account and routing numbers for certain transactions.

  • Who is Grasshopper Bank?

    • Grasshopper Bank is a digital-first commercial bank that provides financial services tailored for businesses.

  • Why is this transition happening?

    • Ascend is moving to Grasshopper Bank to enhance banking capabilities and ensure a seamless payment experience for our customers.

Customer Impact

  • Will my payments, schedules, or account details change?

    • Yes. Your account and routing numbers will change. This will only affect you if you currently offer check or wire payment options.

  • Do I need to take any action?

    • Yes. You may need to update your payment details to reflect the new account and routing numbers. Additional instructions will be provided.

  • What happens if I don’t accept the new terms?

    • You will not be able to access Ascend’s services until you’ve accepted the new Terms. You can accept the Terms starting today to ensure your business can continue to Ascend.

Security & Compliance

  • Are my funds still safe?

    • Yes. Your funds remain secure and will continue to be held with an FDIC-insured institution.

  • Is my personal and financial information secure?

    • Yes. Ascend and Grasshopper Bank adhere to strict security and compliance standards to protect your data. Your personal and financial information will remain encrypted and secure.

Timeline & Next Steps

  • When will the transition take place?

    • The transition will occur between March and April 2025.

  • How long do I have to accept the new terms?

    • You have until the transition is completed at the end of April, at which point, you will have read-only access to Ascend.

Support & Assistance