Azlo – Fee-free small business banking

We were recommended Azlo by Stripe Atlas. I would not recommend them... it&#x27;s a pain to switch to anything else, their support can&#x27;t do anything except tell you to open a new account to change anything at all, and they have no method of editing anything or viewing docs or sending information. They&#x27;re supposed to integrate perfectly with Stripe but they don&#x27;t; not only can I not change the information in Stripe, but I have no way of changing the default user or address. It also has no international support which is a major pain as we frequently travel to different countries for long periods of time. I thought Natwest and UK banks were terrible with allowing international users to move money, but Azlo straight up doesn&#x27;t support it.<p>According to their support the only way to change basically anything is to open an entirely new account. So we&#x27;re currently tracking down and collecting documents all over again, except this time we have to spend a bunch on legal fees since we had Atlas to help us through the first time.

I don&#x27;t know if I&#x27;d recommend them. We had a really hard time trying to switch to them. We were with Seed which closed down and they offered a &quot;seamless&quot; migration to Azlo. We kept getting automated emails from them about docs that we already sent to them and no manual response from any one in customer support.<p>Eventually, they just rejected our application and off we went to SVB. It was frustrating, especially since we really were hoping to support another startup.

From their FAQ:<p>&gt; If you don&#x27;t charge fees, how do you make money?<p>&gt; We earn revenue from the interest on deposits in Azlo accounts. We also earn a small sum every time someone makes a purchase with an Azlo card—the merchant pays to process the card transaction, and we get part of that payment.<p>Is this sustainable? From what I’ve seen businesses do not use debit cards, they prefer credit cards so Azlo wouldn’t be making much from the (already limited) debit fees.<p>The interest on deposits is a hell of gamble as well. Assuming they get about 2%, how much would the average account actually have on hand? Anybody with more than a couple $K to pay their rolling bills is better served with their own dedicated business savings account to get the 2% for themselves. That’d leave small accounts that are going earn next to nothing for Azlo.

Last time I tried to switch to Azlo, we ran into the limitation that each account can only have one user. So, only one person can log in. Only one person can have a debit card. This was a deal-breaker for us.<p>Has this been addressed yet?

Another Seed refugee here. Haven&#x27;t heard the best things about Azlo, so still looking for options. Has anyone tried <a href="https:&#x2F;&#x2F;banknovo.com&#x2F;" rel="nofollow">https:&#x2F;&#x2F;banknovo.com&#x2F;</a> ?

You can only have one user with Alzo which makes it tough if you have accountants&#x2F; tax people or other people in co that need access. They def need to solve this- they&#x27;ve said it was on the way but I&#x27;ve heard nothing.

Azlo doesn&#x27;t support IBAN, which is my main issue with them. Other than that I&#x27;ve had a good experience overall but they really need to do something about supporting other currencies and IBAN.

My experience with Azlo is pretty subpar. Their Stripe&#x2F;Square&#x2F;PayPal integration is pretty ridiculous. As a Fintech startup, I expected free invoicing with ACH instead of just providing a buggy interface and subpar integration with existing services. Also, they violated a bunch of regulations opening my business account, which means, they may have done it with others, which can wipe them out of business pretty soon.<p>People are unaware, but Capital One actually offers free business checking.

I’ve been using them with a Stripe Atlas account. It’s a very simple LLC, but it does have two owners and Azlo doesn’t support multiple user accounts! They say it’s coming soon, but I’ve been waiting a while. If this business was more complex, we would have run from Azlo a while ago.<p>I’ve also had issues sending payments and their support was no help.

I&#x27;ve been using them since launching an LLC last summer. Before that I use Capital One Spark business accounts, (which is no longer signing up new accounts) so Azlo has been &quot;fine&quot;. Good app.

I don&#x27;t understand how any product can be aimed at &quot;small business&quot; without credit card and&#x2F;or LOC offerings.

I believe Stripe’s Atlas uses this as well.