Best Business Bank Accounts for LLCs

We started by identifying the most popular business bank accounts used by LLC owners in the U.S., filtering for both online-only neobanks and traditional institutions with branch networks. We reviewed published fee schedules, interest rates, FDIC coverage limits, transfer policies, and mobile app ratings for each provider.

Each account was scored across four categories: pricing and value (35% weight), features and benefits like wire transfers and interest rates (25%), ease of use including app quality and onboarding speed (20%), and customer support accessibility (20%). We pulled user reviews from Trustpilot, the BBB, Google Play, and the App Store to validate real-world experience against marketing claims.

We gave heavy preference to accounts with $0 monthly fees and no minimum balance requirements, since most new LLCs cannot guarantee a consistent daily balance. We also penalized providers with documented patterns of sudden account freezes or closures, since losing access to your operating funds can shut down a business overnight.

Every LLC needs a dedicated business bank account. Mixing personal and business finances is the fastest way to lose your LLC's liability protection. Courts call it "piercing the corporate veil," and it means your personal assets become fair game in a lawsuit. A separate business checking account creates a clear paper trail between your LLC and your personal finances.

Beyond legal protection, a business bank account simplifies tax filing, makes bookkeeping dramatically easier, and is required by most payment processors, payroll providers, and accounting tools. If you plan to accept payments, hire contractors, or apply for a business credit card, you need a dedicated EIN-linked bank account.

The one exception: if you are a sole proprietor who has not formed an LLC and handles very few transactions, you can technically operate with a personal account. But the moment you file LLC paperwork with your state, open a separate bank account the same week. The cost is $0 at Mercury, Relay, or Bluevine, so there is no financial reason to delay.

Mercury and Relay are the two strongest options for most LLCs, but they solve different problems. Mercury wins on raw value. It charges $0/month, offers free domestic and international USD wire transfers (a feature that saves $20 to $35 per wire compared to Chase or Bank of America), and provides FDIC insurance up to $5M through its partner bank sweep network. Mercury Treasury also earns up to 3.71% APY on idle cash, which turns your operating account into a revenue source.

Relay, on the other hand, shines for LLC owners who need granular financial organization. Its free plan lets you create up to 20 separate checking accounts under one business, which is perfect for profit-first budgeting or separating funds by project, client, or expense category. Relay does not match Mercury's interest rates or wire transfer savings, but its multi-account structure is something Mercury does not offer at the same level.

Chase Business Complete sits in a different category entirely. Its $15/month fee (waivable with a $2,000 daily balance) and per-wire charges make it more expensive than either Mercury or Relay. But Chase offers something no online bank can: physical branches, in-person support, and cash deposit capability. If your LLC handles any amount of physical currency, Chase is the practical choice despite the higher cost.

Bluevine fills a niche for LLCs that want interest on their checking balance without the complexity of a separate treasury or savings product. Its checking account pays interest with no monthly fee, which is appealing for businesses that keep moderate balances but do not want to manage multiple accounts. However, Bluevine's overall feature set is thinner than Mercury's, and its FDIC coverage is limited to the standard $250,000.

Bank of America Business Advantage rounds out the list as the legacy option. At $16/month (waivable with $5,000 in combined balances), it is the most expensive account here. Its primary appeal is ecosystem integration. If you already bank with BofA personally, linking accounts can simplify transfers and potentially unlock fee waivers. But for a brand-new LLC with no existing BofA relationship, there is little reason to choose it over Mercury or Relay.

Watch out for monthly maintenance fees that quietly drain your account. Chase charges $15/month unless you maintain a $2,000 daily balance, and Bank of America charges $16/month unless you keep $5,000 on deposit. Over a year, those fees cost $180 to $192 if you slip below the threshold even once. For a new LLC with fluctuating cash flow, that is money you cannot afford to lose on banking overhead.

Also be cautious about fintech account closures. Mercury, despite its excellent fee structure, has documented cases of closing accounts without warning or clear explanation. Users on Reddit and Trustpilot report being locked out of funds for weeks or months. If your LLC depends on fast access to every dollar, consider keeping a backup account at a traditional bank. Never put 100% of your operating capital in a single institution, especially one without physical branches.

If none of the top three picks fit your LLC, Bluevine is a solid alternative for business owners who want a simple, interest-bearing checking account without monthly fees. It lacks Mercury's free wire transfers and $5M FDIC coverage, but its straightforward interface and interest on checking balances make it a good fit for LLCs that keep moderate cash reserves in one account.

Bank of America Business Advantage is worth considering only if you already have a BofA personal account and value branch access. The $16/month fee is steep for what you get, but the ability to walk into a branch and handle issues face-to-face has real value for business owners who prefer traditional banking. If you regularly deposit cash and BofA has more convenient locations than Chase in your area, it becomes a reasonable choice.

For LLCs focused on international payments or operating across multiple currencies, Mercury's free international USD wires give it an edge over every other option on this list. But if you need true multi-currency accounts with local payment rails in Europe or Asia, you may want to explore Wise Business or Payoneer as supplementary accounts alongside your primary U.S. business checking.