Company Spotlight — Paid Content
HL Hunt's Business Banking Product Offers Unlimited Cards and 4.25% APY. It's Still Waitlist-Only.
HL Hunt's banking-as-a-service product has published tiered pricing and a feature set that looks like a finished business-banking app — corporate cards, same-day ACH, a yield-bearing reserve account — but the product itself remains unlaunched, open only to a waitlist.
— HL Hunt's banking-as-a-service product — covered previously on this site for its white-label and API-level infrastructure pitch to other businesses — has a second face: a tiered, consumer-facing business banking product with published pricing, a corporate card program, and a yield-bearing reserve account. It reads, on the page, like a finished product. It is not one yet. The service remains open only to a waitlist, with no announced launch date.
The pricing structure breaks into three tiers. Starter is free with no minimum balance requirement. Growth is also free, but requires at least $2,000 in monthly deposits to qualify. Scale costs $29 a month. None of the three tiers' feature differences beyond that threshold are detailed in HL Hunt's available public materials, so it is not clear from the product page alone what a business gets at $29 a month that it does not get on Growth, beyond presumably not needing to hit the deposit minimum.
The feature set attached to the account is substantive on paper: unlimited virtual and physical corporate cards with 1.5% cashback, same-day ACH transfers, domestic wire transfers, and 4.25% APY on reserve balances — a yield that, if it holds once the product actually launches, would be competitive with several already-operating business banking fintechs. As with HL Hunt's other banking-as-a-service claims, the underlying deposits would sit with an FDIC-insured partner bank that HL Hunt has not named publicly, which is the detail that matters most for evaluating actual deposit safety and is not disclosed on the product page.
The gap between the specificity of the pricing and feature list and the complete absence of a launch date is the thing worth sitting with. A company can publish real tiers and real numbers for a product that is still, functionally, a concept — and the difference between a well-specified waitlist page and a live bank account a business can actually open and fund is not something a pricing table resolves on its own.