- Best overall: Bluevine Business Checking
- Best for software integrations: Novo Business
- Best for multi-member LLCs: Relay
- Best for ATM access: Axos Bank Basic Business Checking
- Best for wire transfers: Mercury
- Best for free business checking: NBKC Business Checking
- Best for early access to payments: Lili
- Best for rewards: Grasshopper Business Checking
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.
Bluevine Business Checking
Best for software integrations
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.
Best for multi-member LLCs
Best for ATM access
Axos Bank Basic Business Checking
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.
|Fee||$0 per month|
|Minimum deposit to open||$0|
Best for wire transfers
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.
Best for free business checking
NBKC Business Checking
|Fee||$0 per month|
|Minimum deposit to open||$0|
Best for early access to payments
Best for rewards
Grasshopper Business Checking
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.
Compare business bank accounts
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.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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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