- Best overall: Bluevine Business Checking
- Best for wire transfers: Mercury
- Best for multi-member LLCs: Relay
- Best for freelancers: Lili
- Best for software integrations: Novo Business
- Best for ATM access: Axos Bank Basic Business Checking
- Best for free business checking: NBKC Business Checking
- Best for rewards: Grasshopper Business Checking
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Best business bank accounts for LLCs
Keep your personal assets separate with a business bank account suited for LLCs.
With a limited liability company (LLC), it’s important to have a business checking account separate from your personal account to protect your personal assets. A business bank account helps streamline your business’s operations for bookkeeping, tax purposes and day-to-day expenses.
8 best business bank accounts for LLCs
The best bank accounts for LLCs have minimal fees, no required opening deposits and feature business software integrations. A few are also interest-bearing, which could yield extra funds throughout the year.
Best overall
Bluevine Business Checking
Finder Rating: 4.6 / 5 ★★★★★
Bluevine Business Checking took the win for best overall, largely due to its lack of fees. There are no monthly service fees, no minimum balance requirements, no overdraft fees and no opening deposit requirement.
It also supports software integrations, connecting you to popular services, including Quickbooks, Cash App, Square, Wave and Venmo. But the cherry on top is that it's interest-bearing, offering 2% APY on your funds up to $250,000 if you meet spending and payment requirements. However, its most notable downside is the 2.9% credit card transaction fee for bill payments.
| APY | 2.00% |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
verified_user FDIC Insured
Best for wire transfers
Mercury
Finder Rating: 4.5 / 5 ★★★★★
Mercury doesn't charge you for incoming or outgoing domestic or international wire transfers in USD, making a good option for e-commerce business with international suppliers. While many other providers allow free incoming wire transfers, most charge a fee for outgoing transfers, especially for international ones.
Mercury is also a great option for a free checking account for startups and small businesses, requiring no opening deposit, no monthly fees and no overdraft fees. However, like many online banks, Mercury doesn't accept cash deposits.
| APY | N/A |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
verified_user FDIC Insured
Best for multi-member LLCs
Relay
Finder Rating: 4.2 / 5 ★★★★★
If you're part of a multiple-member LLC, Relay is worth considering. It allows you to open up to 20 checking accounts to separate cash for easy organization and issue up to 50 physical or virtual cards to other members.
You can also place spending limits on the cards and automate transfers between the separate checking accounts, identify who did what, and offer separate logins for each member. The accounts also integrate with Quickbooks and Xero. Relay Pro, its paid membership, costs $30 per month and offers other perks, such as 50 free direct deposits per month.
| Fee | $0 per month |
|---|---|
| Minimum deposit to open | $0 |
verified_user FDIC Insured
Best for freelancers
Lili
Finder Rating: 4.6 / 5 ★★★★★
Lili is well-suited for small business owners and freelancers. Its standout features are its ability to automatically set aside a percentage of your income for your taxes into a Tax Bucket, and lets you track tax write-offs right in the app.
It also generates a quarterly and yearly business expense report, and it can pre-fill your annual 1040 Schedule C form. Choose between the free Lili Basic account or the Lili Pro account for $9 per month, which offers overdraft protection, cashback rewards, and a savings account.
| APY | 2.00% |
|---|---|
| Fee | From $0 per month |
| Minimum deposit to open | $0 |
verified_user FDIC Insured
Best for software integrations
Novo Business
Finder Rating: 4.4 / 5 ★★★★★
Novo had the most software integrations compared to other providers, with more than 15 app integrations, making it a great choice for online businesses. Connect to business applications such as Quickbooks, Stripe, Shopify, Square, Slack, Xero, Ebay, Etsy and much more.
Novo also features free and unlimited invoicing features to make bookkeeping and accounting easier, and lets you create up to 10 reserve accounts to categorize your finances. While Novo doesn't have an ATM network, it offers out-of-network ATM reimbursements. But Novo charges a $27 fee for overdrafting, and like many online banks, there are no physical locations.
| APY | N/A |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
verified_user FDIC Insured
Best for ATM access
Axos Bank Basic Business Checking
Finder Rating: 4.5 / 5★★★★★
Axos is an online FDIC-insured bank with over 20 years in the industry, beating out many other online banks in its longevity. With its Basic Business Checking account, you can use any ATM nationwide with unlimited domestic ATM fee reimbursements. There are also no monthly maintenance fees and no required opening deposit.
Other perks include software integration with Quickbooks, and a welcome bonus if you meet its balance requirements or if you're a new business. On the downside, it doesn't have any physical branches and has fewer software integrations compared to other options on this list.
| APY | N/A |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
verified_user FDIC Insured
Best for free business checking
NBKC Business Checking
Finder Rating: 4.5 / 5 ★★★★★
NBKC's business checking account takes the win for best free option. There's no deposit required, and there are no fees for overdrafts, non-sufficient funds or stop payments. NBKC allows for cash deposits at MoneyPass ATMs with no charge as well. And NBKC is highly rated on review platforms — a rarity for many long-term banks. But if you frequently do international wire transfers, know that NBKC charges a hefty $45 fee.
| APY | N/A |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $0 |
verified_user FDIC Insured
Best for rewards
Grasshopper Business Checking
Finder Rating: 4.6 / 5 ★★★★★
Grasshopper is an online, FDIC-insured bank that offers 2.25% APY on balances between $25,000 and $250,000. Balances under $25,000 earn 1.51% APY. Grasshopper also offers unlimited, free ACH and incoming wire transfers and unlimited 1% cashback on online and signature-based purchases. But to qualify for cash back, you must maintain an average balance of $10,000 and have an account in good standing. And unlike most other banks on this list, Grasshopper requires an opening deposit of $100.
| APY | Up to 2.25% |
|---|---|
| Fee | $0 per month |
| Minimum deposit to open | $100 |
verified_user FDIC Insured
Methodology: How we choose the best accounts
Finder’s banking experts research and compare 40 business bank accounts before narrowing down the best accounts for LLCs. The features that hold the most weight are the existence of software integrations such as Quickbooks or services that assist with tax filings, the number of free ATMs available in the provider’s network, and monthly fees. We also regularly update and revise our list to reflect the best options available in the current market.
We weigh these six factors when choosing the best accounts:
- Has at least one software integration or comes with tax features
- Free ATM access or offer ATM reimbursements
- $0 in monthly maintenance fees
- Opening deposits less than $100
- Available in most states
- No membership requirements
How to pick a top business account
Because there are several types of LLCs, the best bank account for yours depends on what you consider most important — but there are a few things that every business owner should consider:
- Fees. Compare monthly maintenance fees, overdraft fees and opening deposit requirements. Beyond these, look at fees attached to wire transfers and ATM withdrawals.
- Interest. While not common, there are some interest-bearing business checking accounts. Though, they might come with a minimum balance requirement to start earning interest.
- Rewards. If you plan on using your business debit card frequently, consider an account with a cashback rewards program for possible earnings.
- Cash deposits. If you’re a cash-based business, you may want to consider a bank with physical branches to make cash deposits easier. For online-based businesses, cash deposits are usually not possible or come with a fee.
- Software integrations. For taxes, expense reports, bank statements and more, having a bank with software integrations, such as Quickbooks or Xero, can make bookkeeping easier.
Dive deeper Guide to business banking
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Narrow down top business bank accounts by fees, software integrations, APYs and more to find the best for your budget and financial goals. Select Compare for up to four products to see their benefits side by side.
How to open a business account for your LLC
It doesn’t take long to open a business bank account — especially if you’re going with an online bank. Most LLCs will need to provide the following documents when opening an account:
- Government-issued ID or valid driver’s license
- Employer Identification Number (EIN), SSN or Taxpayer Identification Number
- Business license
- LLC operating agreement
- Articles of organization and amendments
Can I use my own bank account for my LLC?
While you can use your personal bank account to run your LLC, it’s generally not recommended since it can affect liability and make business bookkeeping a pain. Having a dedicated business bank account for your LLC helps protect your personal assets and any other LLC member’s assets.
A business account for your LLC helps you keep track of expenses, tax deductions or credits, and keep your income separate from your personal assets. This separation ensures clear financial organization and minimizes any potential challenges with the IRS in the future.
Also, a business bank account can make applying for business loans for an LLC easier. Business loan providers almost always require business bank statements for evaluation. Keeping personal and business accounts separate avoids complications and makes it easier to provide the necessary financial documentation, increasing your chances of securing business loans.
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