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.

Novo and Mercury are the two strongest options here. They solve different problems. Novo wins on what it does for you. It costs $0 a month. The account brings invoicing, expense categorization, Reserves for tax money, and profit and loss reports. For a founder with no bookkeeper, that is a whole back office inside the banking app.

Mercury wins on where money sits. It is also free monthly. Its domestic and international USD wires cost nothing, and FDIC coverage runs to $5M through its partner bank sweep network. Novo tops out at $250,000 through Middlesex Federal Savings. Below that ceiling the difference is theoretical. Above it, Mercury is the safer home.

Relay suits owners who need granular organization. Its free plan creates up to 20 separate checking accounts under one business. That fits profit first budgeting, or splitting funds by project. It does not match Novo's built in bookkeeping or Mercury's wire savings.

Bluevine fills a narrower niche. Its checking pays interest with no monthly fee, which suits businesses holding moderate balances. It is also the only account here that takes cash at all, through Green Dot retail locations for a fee.

One gap none of these fills. Daily cash businesses are not served well by any online account. Pair one of these with a local bank that has branches. Use the online account for everything else.

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.

Once your bank account is set up, the next step is getting your bookkeeping in order. If you want AI to handle transaction categorization and reconciliation instead of doing it by hand, our guide to AI bookkeeping for small business covers the tools that connect directly to your bank feeds.