Digital Bank Rho Expanding Offering to Larger Companies

Digital bank Rho is moving beyond the small companies it initially served to begin working with companies that have 100 – 200 employees; the company will charge no fees to send international wire transfers, aside from a 0.5% foreign exchange fee, clients can get up to five checking accounts per single tax ID, and the account owner can customize permissions so that people from a variety of roles in a single company; “This enables companies to offer their whole teams a place within Rho,” Alex Wheldon, a Co-Founder of the New York-based company, said in an interview with American Banker. “That could be an employee simply getting free access to safe and controlled spending to investors that want read-only access.”; the company has hundreds of businesses that bank with the firm so far and they work with a network of banks for credit and treasury products. American Banker.

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