Key Takeaways
- Bushel introduces interest-bearing business accounts for farmers and agribusinesses, offering 3.43% interest rates and FDIC insurance up to $5 million.
- Bushel Farm™ will integrate a digital wallet to streamline financial and operational farm management.
- New features include payment requests, access to lines of credit, and online bill pay for 2025.
- Agribusinesses can generate returns on operational float by utilizing the new financial tools instead of paper-based payments.
- Check fraud has surged 385% since the COVID-19 pandemic, increasing demand for secure digital payment solutions.
Bushel Launches Financial Tools for Agriculture
Bushel, a leader in digital payments and workflow solutions for agriculture, has announced the expansion of its platform with enhanced financial services for farmers and agribusinesses.
As part of this rollout, Bushel is introducing a new business account, offered through The Bancorp Bank, N.A., a wholly owned subsidiary of The Bancorp, Inc.. The account provides:
- Competitive interest rates—currently 3.43% as of February 26, 2025.
- FDIC-insurance up to $5 million through a sweep program.
- Secure and streamlined financial transactions tailored to the needs of farmers and agribusinesses.
“When you consider the whole package, this continues to strengthen the business relationships between farmers and agribusinesses,” said Jake Joraanstad, CEO of Bushel. “When a farmer can immediately begin earning interest on their grain settlement, that’s meaningful to the bottom line. When a retailer can collect payments online with lower fees and ensure on-time payment, that is meaningful to the bottom line.”
New Bushel Farm™ Experience
Starting this spring, Bushel Farm™ will integrate a digital wallet, providing an all-in-one financial and operational management tool for farmers.
Key Features:
- Interest-bearing business account—earn competitive interest while ensuring liquidity.
- Send and request payments—streamline transactions directly within the platform.
- Access and repay lines of credit—seamlessly manage funding needs.
- Upcoming Features (2025):
- High-limit mobile check deposits for grain settlement checks.
- Online bill pay for streamlined expense management.
- Debit card access for direct financial transactions.
With these new financial tools, farmers gain greater control over their cash flow, improving profitability and operational efficiency.
Benefits for Ag Retailers and Grain Companies
Bushel’s new payment solutions offer agribusinesses a more secure and profitable way to manage funds and reduce reliance on paper-based payments.
- Earn interest on operational float by keeping funds in the Bushel business account.
- Reduce delays and risks associated with mailing paper checks.
- Improve cash flow management with digital transactions.
According to the U.S. Postal Service, security concerns surrounding mailing checks have increased, with check fraud surging 385% since the COVID-19 pandemic.
- Mailing delays in rural areas could lead to slower payment processing, disrupting cash flow.
- The U.S. Treasury Department has advocated for more secure digital payment methods to combat rising fraud risks.
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