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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.

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9 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

4.5
★★★★★

Finder score

Go to site Read review
Bluevine Business Checking took the win for best overall due to its variety of features and free plan option. The Standard plan has no monthly service fees, and offers a high 2% APY on your funds up to $250,000 by meeting activity requirements. There are also two other paid plans called Plus and Premier, costing either $30 or $95 per month (can be waived). None of the plans charge overdraft, foreign transaction fees or require an opening deposit. You'll also get high insurance coverage — up to $3 million through Coastal Community Bank and a network of program banks. It supports many software integrations, such as Quickbooks, Cash App, Square, Wave and Venmo. The Plus plan offers a 3% APY, and Premier offers a 4.25% APY with no activity requirements, and discounts on wire and same-day ACH transfers. Both However, its most notable downside is the 2.9% credit card transaction fee for bill payments.

Best for software integrations

Novo Business

4.2
★★★★★

Finder score

Go to site Read review
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 Amazon, Quickbooks, Stripe, Shopify, Square, Slack, Xero, Ebay and much more. Novo also features free and unlimited invoicing features to make bookkeeping and accounting easier, recurring bill payments and you can create 20 reserve accounts to categorize your finances. While Novo doesn't have an ATM network, it offers out-of-network ATM reimbursements.
Novo is a fintech company; not a bank. Deposit account services provided by Middlesex Federal Savings, F.A., Member FDIC. Physical debit cards issued by Middlesex Federal Savings or Patriot Bank, N.A., Member FDIC; virtual cards issued by Patriot Bank, pursuant to licenses from Mastercard® International Incorporated. Mastercard can be used everywhere Mastercard is accepted. Mastercard is a registered trademark of Mastercard International Incorporated.

Best for multi-member LLCs

Relay

4.8
★★★★★

Finder score

Go to site Read review
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. You have the option to integrate your account with software such as Gusto, Plaid, QuickBooks, Xero and Yodlee. Relay also offers a savings account with 1.00% to 3.00% APY, but you'll need a balance of $1 million or more to earn the 3.00%. Relay Pro, its paid membership, costs $30 per month and offers other perks, such as 50 free direct deposits per month.
Relay is a financial technology company, not an FDIC-insured bank. Banking services and FDIC insurance are provided through Thread Bank and Evolve Bank & Trust; Members FDIC.The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.

Best for ATM access

Axos Bank Basic Business Checking

4.5
★★★★★

Finder score

Open a business checking account by June 30 and get up to $400 when you use promo code NEW400 on your application and maintain a minimum average daily balance of $50,000.
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.

Best for wire transfers

Mercury

4.4
★★★★★

Finder score

Go to site Read review
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.

Best for free business checking

NBKC Business Checking

4.6
★★★★★

Finder score

Go to site
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.

Best for early access to payments

Lili

3.9
★★★★★

Finder score

30 day free trial for Lili Pro, Lili Smart, and Lili Premium
Go to site Read review
Lili is well-suited for small business owners and freelancers. While other accounts also offer early access to payments, Lili stands out because it's simple. Other accounts require third-party app integration or a lengthy setup for early payments. With Lili Basic, you'll also pay no monthly fees, have no opening deposit and no overdraft fees. You can also set up automatic savings for emergencies, enjoy a large fee-free ATM network, and receive domestic wire transfers. The paid plans, which start at $9 per month, offer more perks, like business expense reports, pre-filling your annual 1040 Schedule C form, automatic savings for taxes and cashback rewards. Also, Lili accepts cash deposits at Green Dot locations — a perk missing with most digital banks.
Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC.

Best for rewards

Grasshopper Business Checking

4.5
★★★★★

Finder score

Go to site Read review
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.

Best for freelancers

Baselane

4.6
★★★★★

Finder score

Up to 5% cash back on debit card spend
Go to site
on Baselane's secure site
Baselane is a property management account that accepts LLCs, individuals, partnerships and corporations — and it's free. Designed for landlords and real estate investors, it offers rent collection, accounting and reporting tools. Renters get their own payment platform where they can pay rent for free via ACH transfer to the Baselane account. You can create unlimited virtual accounts and cards for each property, or have an account just for deposits. Earn interest on your balance, up to 4.19% APY for balances over $50,000, or at least 1.95% APY for balances under $10,000. Earn unlimited 1% cashback rewards on all purchases, and up to 5% back on eligible home improvement hardware purchases. It also offers high insurance of up to $3 million with its partner Thread Bank and network of program banks. Software integrations include Airbnb, Cash App, PayPal, Quickbooks and Venmo. On the downside, Baselane doesn't have a mobile app.

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.

Name Product Fee Annual Percentage Yield (APY) FDIC Insured Amount Software Integrations Account management Bank transfer fee Offer
Novo Business
Finder Score: 4.2 / 5: ★★★★★
Novo Business
$0 per month
N/A
Up to $250,000
Amazon, PayPal, Shopify, Square, Stripe and more
Online, App, Phone
$0
Found
Finder Score: 4.5 / 5: ★★★★★
Found
From $0 per month
1.50% on balances of $0 to $20,000
Up to $250,000
QuickBooks, Stripe, Cash App, PayPal, Square, etc.
Online, App, Phone
$0
Chase Business Complete Banking®
Finder Score: 3.8 / 5: ★★★★★
Bonus
Chase Business Complete Banking®
$15 per month
(can be waived)
N/A
Up to $250,00
N/A
Branch, Online, App, Phone
$0
Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
Relay
Finder Score: 4.8 / 5: ★★★★★
Relay
$0 per month
Up to 3.00% on balances of $1,000,000+
2.00% on balances of $250,000 to $999,999
1.50% on balances of $50,000 to $249,999
Up to $2.5 million
QuickBooks Online, Xero, Gusto, Plaid, and Yodlee
Online, App, Phone
$0
Bluevine Business Checking
Finder Score: 4.5 / 5: ★★★★★
Bluevine Business Checking
From $0 per month
4.25% on balances of $0 to $3,000,000
3.00% on balances of $0 to $250,000
2.00% on balances of $0 to $250,000
Up to $3 million
Cash App, Expensify, Quickbooks, Square, Wave, Wise, Venmo, and Xero
Online, App, Phone
$0
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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.

Written by

Bethany Hickey

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full profile

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