Slash

What is Slash

Slash is a financial technology company that provides a business banking platform designed for entrepreneurs and modern businesses. It is not a traditional bank but partners with federally regulated, FDIC-insured banks like Column N.A. and Piermont Bank to offer its services. Headquartered in San Francisco, California, Slash aims to provide banking solutions tailored to specific industry needs, moving away from the one-size-fits-all approach of legacy banks. The core of its service revolves around high-yield checking and savings accounts, a powerful corporate card program with high cashback rates, and advanced tools for expense management, automation, and security. It is built for businesses such as wholesalers, online travel agencies, and home services companies that require flexible and robust financial tools.

Slash Features

Slash offers a suite of features designed to support and scale business operations.

• Business Checking and Savings: Access high-yield accounts with FDIC insurance up to millions of dollars through partner networks. The platform supports free domestic wires and ACH transfers for Pro users.
• 2% Cashback Corporate Cards: Pro users receive unlimited 2% cashback on spending. The platform allows for the creation of unlimited virtual and physical corporate cards.
• Advanced Spend Controls: Set granular permissions, spending limits, and security settings for each card and user to manage team expenses effectively.
• Working Capital: Through partnerships, Slash provides access to business financing, term loans, and lines of credit to help fuel growth.
• Crypto On and Off Ramp: Users can convert between fiat currencies (like USD) and stablecoins (like USDC and USDT) directly within the Slash application, simplifying digital asset management.
• Developer API: Every account comes with read and write API access, allowing businesses to automate banking tasks and build custom integrations into their existing workflows.
• Multi-Entity Management: Easily switch between bank accounts for different legal entities from a single dashboard, similar to managing multiple workspaces in Slack or Discord.
• Intelligent Financial Tools: Features include virtual accounts for organizing funds, real-time analytics for spending insights, auto-transfers to top up low balances, and ACH authorizations to control vendor payments.
• Robust Security: Security is a priority, with enhanced FDIC insurance, SOC2 Type II compliance, multi-factor authentication, and multi-step payment approval workflows.

Slash Pricing Plans

Slash offers two main pricing tiers to cater to different business needs.

• Free Plan: This plan is designed for businesses needing essential banking features. It includes a competitive cashback rate on card spending, unlimited virtual cards, and access to the core banking platform. Some transactions, like domestic wires and same-day ACH, incur a small fee.
• Pro Plan: Aimed at scaling businesses, this plan offers premium benefits for a monthly fee. It includes a higher cashback rate of 2%, free domestic wires, free same-day ACH transfers, and access to all advanced features. This plan is ideal for companies with higher transaction volumes and a need for more sophisticated financial tools.

Slash Free Plan

Slash offers a comprehensive Free plan that provides full-featured banking essentials without a monthly subscription fee. This plan includes 1.5% cashback on card spending, unlimited virtual cards, and enhanced FDIC insurance. While many core features are included, there are fees for certain services, such as domestic wire transfers ($6), same-day ACH transfers ($1), and international wires ($25). This plan is an excellent starting point for new businesses and entrepreneurs.

How to use Slash

Getting started with Slash is a straightforward process designed to be completed quickly online.

1. Sign Up: Begin by applying for an account on the Slash website. The application process typically takes less than 10 minutes.
2. Fund Your Account: Once approved, you can fund your new checking or savings account via ACH, wire transfer, or other supported methods.
3. Create Virtual Cards: Immediately start creating unlimited virtual cards for different vendors, subscriptions, or employees. Assign specific spending limits and controls to each card.
4. Manage Expenses: Use the dashboard to monitor all transactions in real-time. The analytics tools provide insights into spending patterns across your business.
5. Automate Workflows: Set up auto-transfers to maintain account balances or use the API to connect Slash to your internal systems for custom automation.
6. Manage Team Access: Invite team members and assign custom roles and permissions to control their access to accounts and spending capabilities.

Pros and Cons of Slash

Pros:

• High Cashback: Up to 2% cashback on card spending is very competitive.
• Unlimited Virtual Cards: Excellent for managing vendor payments and employee expenses securely.
• No Monthly Fee Option: The Free plan is robust and suitable for many businesses.
• Crypto Integration: The built-in crypto on/off ramp is a unique feature for businesses using digital assets.
• Developer-Friendly: Full API access allows for deep customization and automation.
• Strong Security: Enhanced FDIC insurance and modern security protocols provide peace of mind.

Cons:

• Fintech, Not a Bank: As a financial technology company, it relies on partner banks, which may be a drawback for those preferring a traditional banking relationship.
• Fees on Free Plan: The Free plan has fees for common transactions like wire transfers.
• No Physical Branches: Service is entirely digital, which may not suit businesses that require in-person banking.
• Best Features are Paid: The highest cashback rate and free transfers are only available on the paid Pro plan.

Slash integrations

Slash is designed to integrate into a modern business's tech stack. While specific native integrations with accounting software like QuickBooks or Xero are standard for such platforms, the most powerful integration capability comes from its API. The API allows for custom connections to sync transaction data, automate payments, and manage cards programmatically. This enables businesses to connect Slash with their accounting software, ERP systems, and other internal tools for a seamless financial workflow.

Slash Alternatives

• Brex: A financial platform popular with startups and tech companies. Brex offers corporate cards, expense management, and business accounts with a strong focus on rewards and venture debt.
• Ramp: A finance automation platform that combines corporate cards with spend management software. Ramp's main differentiator is its focus on helping businesses identify and cut wasteful spending.
• Mercury: A banking platform built specifically for startups. It offers FDIC-insured checking and savings accounts, virtual cards, and venture debt, with a clean user interface and strong API access.
• Relay: A business banking and money management platform designed for small businesses. Relay excels at allowing business owners to organize income, expenses, and cash reserves using multiple checking accounts.

Slash API

Yes, Slash provides a developer-friendly API with both read and write access for all account holders. This allows businesses to programmatically manage their finances, automate tasks, and build custom solutions on top of the Slash platform. API keys and detailed documentation are typically available within the account settings or on a dedicated developer portal on their website. This feature is a significant advantage for tech-savvy businesses looking to integrate banking functions directly into their operations.

Here is a conceptual example of how you might fetch transactions using Python:

import requests

api_key = 'YOUR_SLASH_API_KEY'
headers = {
    'Authorization': f'Bearer {api_key}',
    'Content-Type': 'application/json'
}

response = requests.get('https://api.slash.com/v1/transactions', headers=headers)

if response.status_code == 200:
    transactions = response.json()
    print(transactions)
else:
    print(f'Error: {response.status_code}')

Slash Affiliate program

The Slash website does not publicly detail a formal affiliate or referral program. Businesses or individuals interested in partnership opportunities are typically encouraged to contact the company's support or business development team directly. They may offer custom partnership arrangements for influencers, agencies, or platforms that can refer new customers to their service.