Banking Built for Consumer Brands Now with 4.54% APY

The challenge

At Ampla, we’re deeply invested in understanding the wants and needs of brands. We appreciate the challenges of navigating demand planning alongside consumer preferences, managing your budgets and sourcing working capital for dynamic demand amidst a challenging economic environment.

What makes things more complicated is that managing all these duties is often spread across multiple systems. When it comes to financial management, for instance, brands ideally want only one primary business checking account, but they tend to open at least four on average.

They likely have a credit card account for marketing and ad spend and rely on separate accounts payable software that may or may not be integrated with their checking accounts to make payments to their vendors. With this information across multiple systems, it can be overwhelming for founders and their teams to understand the current state of their cash flow and the financial health of their business.

The solution

This is where Ampla Banking comes in. We’re building an all-in-one financial management system designed for brands with a business checking account at its core. We’re dropping the need for separate bank accounts, multiple systems, and clunky integrations that take up your time and resources.

With Ampla Banking, the checking account is the financial nucleus of a business. Brands use it for routine operations every day, including making payments to vendors, accepting payments from clients, running payroll services, and so on. We hope that having a platform that combines all of the day-to-day needs saves growing brands time, energy, and money they can use for other areas of their business. Below are some key highlights of Ampla Banking.

4.54% APY on all deposits

As of April 23rd, Ampla Banking is offering 4.54% APY on deposits, up to 12x the national average. This changes is part of our effort to help emerging brands get the most from their financial platform, and works in tandem with other features, including:

No fees*

Unlike many other systems, we’ve removed the many fees that typically come packaged with a business checking account. We do not charge monthly account fees, ACH and wire transfer fees, excess transactions fees, or annual fees from a debit card. You won’t find any hidden charges either.

Seamless money movement

Ampla offers several ways to deposit and withdraw funds, including checks, ACH, and domestic wires.

Checks. A written and signed instrument directing a bank to pay a third-party a specific sum of money.

Free Automated Clearing House network (ACH). An electronic funds transfer between institutions.

Free Domestic wires. A form of wire payment that takes place between two institutions within the same country. 

Business debit card

With Ampla Banking, you can feel empowered to seamlessly generate and issue cards, set spend controls and manage employee spend. Create unlimited virtual cards for easy vendor management.

Complimentary bill pay

We’re offering a free bill pay solution to help owners and operators streamline their accounts payable workflow. With Ampla Bill Pay, users can easily upload invoices, pay bills via ACH or domestic wire, and keep track of all bills and bill payments in one place. In addition, users have the ability to pay from their business checking account or Growth Line of Credit (if qualified). Current QuickBooks Online users can also choose to sync Bill Pay with their QuickBooks Online account to unlock auto reconciliation, helping you save more time from manual accounting tasks (Netsuite integration coming soon).

Fully insured Banking

All deposits within your Ampla account are also FDIC insured. As stated on the FDIC website: “No depositor has ever lost a penny of insured deposits since the FDIC was created in 1933.”

Ampla Banking makes FDIC insurance a priority, covering up to $250K in deposits.

Path to Growth Line of Credit

We’re constantly looking for new ways to bring accessible financial solutions to emerging and growing brands. With the release of business checking, we’re also unlocking a path to our Growth Line of Credit when you are in the position to do so.

As your business evolves, we'll proactively let you know when you're qualified for our Growth Line of Credit. And since our team provides a proposal within 48 hours, you can feel confident in knowing you will have our support in an instant.

How to get started

Getting started with Ampla Banking is simple. The application takes just a few minutes, and you'll hear back from us in less than 24 hours.

To learn more about Ampla Banking and sign up, click here.

Ampla is a financial technology company, not a bank. Banking services provided by Blue Ridge Bank N.A. and Thread Bank; Members FDIC. The Ampla Visa Debit Card is issued by Blue Ridge Bank N.A. and Thread Bank, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa is accepted. FDIC Insurance is available for up to $250,000 of your funds on deposit through Blue Ridge Bank, N.A. or Thread Bank; Members FDIC.*Annual Percentage Yield (APY) of 4.97% is effective as of July 27, 2023 with Blue Ridge Bank N.A. Annual Percentage Yield (APY) of 4.54% is effective as of September 25, 2023 with Thread Bank. This is a variable rate and may change after the account is opened. Eligibility is contingent on funding your account within the first 30 days of approval. APY accrues daily based on EOD balance, paid out on the 1st of the month. New customers will accrue the current APY until the end of their approval and then each following month. Full terms and conditions can be found here <https://www.getampla.com/business-deposit-account-agreement-blueridgebank> for Blue Ridge Bank N.A. and can be found here <https://www.getampla.com/business-deposit-account-agreement-threadbank> for Thread Bank. Fees could affect earnings on the account.