Best Checking Accounts for LLCs – USA

Best Checking Accounts for LLCs

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USA – February 2024
  • Suitable for: small businesses, freelancers & self-employed.
  • Offerings are backed by regulated financial institutions, deposits are FDIC insured.
  • Compare fees to save money, compare features to save time.
Last Updated February 2024
  • All accounts are FDIC insured.
  • Compare fees to save costs.
  • Suitable for SMBs, freelancers & self-employed.

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Business Banks Monthly Fees Card Regulation Benefits Score
Free plan More info Relay Debit Visa FDIC
  • Best-in-class accounting integrations
  • Open multiple individual business accounts
  • 24/7 support from knowledgeable specialists
9.8

Payments

Domestic Transfers

Free ACH Bank Transfer

$5 fee for sending Wire transfer
International Transfers

Wire transfers

$10 fee for sending Wire transfer
Card

Relay Debit Visa

Cash

Deposits available at 55,000+ AllPoint ATMs.
Withdrawls are fee-free on any ATM

Check

Recieve: Check scanner
Send: Mailed for you on-demand.

 

Accounting Tools

  • green-check-mark Billpay
  • green-check-mark Savings account
  • close-mark-black Free unlimited invoicing
  • green-check-mark Expanse management
  • green-check-mark integration with QuickBooks, Xero, Gusto, Yodlee and more

Security Features

  • Deposits up to $2,500,000 are insured by the Evolve Bank & Trust and Thread Bank; Members FDIC.
  • Secure collaboration with accountants

Account Access

Based on 1,204 reviews
Free plan More info Bluevine Debit Mastercard FDIC
  • 2.0% APY on positive balance up to $250k for eligible customers
  • Quick & easy migration of existing accounts
  • Business loans are available up to $250k
9.5

Payments

Domestic Transfers

Free ACH Transfers
Wire transfers

Standard ACH fee: $0
Same-day ACH fee: $10
Incoming Wire Fee: $0
Outgoing Wire Fee: $15
International Transfers

Transfers to 32 countries outside the U.S in 15 currencies

Outgoing transfer fee (USD): $25
foreign transfer fee: $25 + 1.5% on base payment amount
Card

Business debit Mastercard

Cash

Deposits and withdrawals available at 90,000+ Green Dot ATMs

Checks

Recieve: Check scanner.
Send: 2 free checkbooks.

After 2 checkbooks – $18.22 per checkbook, plus taxes and shipping.
Checking

Accounting Tools

  • green-check-mark Bill pay
  • green-check-mark Free unlimited invoicing
  • green-check-mark Expense Management
  • green-check-mark Payment approvals

Security Features

  • Deposits up to $3,000,000 are insured by Coastal Community Bank; Member FDIC and their program banks.

Account Access

Based on 7,503 reviews
Free plan More info Novo Debit Mastercard FDIC
  • Integration with 50+ automation tools
  • Free & unlimited invoicing automation
9.1

Payments

Card Type
  • Business Mastercard
Domestic Transfers

Free incoming/outgoing ACH
Free incoming wire

International Transfers

Outgoing wire Via Wise (Transferwise)

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Savings tools
  • green-check-mark Bookkeeping
  • green-check-mark Invoicing
  • green-check-mark Integration with Xero, Quickbooks & Zapier

Security Features

  • Deposits up to $250k are insured by Middlesex Federal Savings; Member FDIC

Account Access

Based on 3,018 reviews
$15 / $30 / $95
monthly fee More info
Chase Debit Visa FDIC
  • Fee-free ATMs at 15,000 locations
  • Same-day cash deposits at no additional cost
8.8

Payments

Minimum Balance

$2k min. balance

Domestic Transfers

ACH transfers: Outgoing: $25 per payment

Wire Transfers: Incoming: $15, Outgoing:$25/$35

International Transfers

Wire Transfers: Incoming: $15, Outgoing:$40

Accounting Tools

  • close-mark-black Accounting integration
  • green-check-mark Bill Pay
  • green-check-mark Payment processing
  • close-mark-black Invoicing

Security Features

  • Deposits up to $250k are insured by Chase Bank; Member FDIC

Account Access

Based on 1,474 reviews
Free plan More info Mercury Debit Mastercard FDIC
  • Up to 5.5% APY on savings
  • Unlimited fee-free transactions
8.5

Payments

Cards
  • Mercury Debit Mastercard
  • IO Credit Mastercard
Domestic wires
  • Free
USD international wires
  • Free
Currency exchange
  • 1% rate

Accounting Tools

  • green-check-mark Accounting integration
  • green-check-mark Money management

Security Features

  • Deposits up to $5,000,000 are insured by Choice Financial Group and Evolve Bank & Trust; Members FDIC.

Account Access

Based on 764 reviews
$10 Per month
$5k min. balance More info
Axos Debit Visa FDIC
  • Unlimited domestic ATM fee reimbursements
  • Eligible customers earn 1.01% APY up to $50k
8.2

Payments

Cash Deposits
  • N/A
Minimum opening deposit
  • $100
Domestic Transfers
  • Free ACH transfers
  • $15 for outgoing wire transfers
International Transfers
  • $50 for outgoing international wire transfer

Accounting Tools

  • green-check-mark Savings tools
  • green-check-mark Bill pay
  • close-mark-black Expense Management
  • close-mark-black Invoicing
  • green-check-mark QuickBooks integration

Security Features

  • Deposits up to $250k are insured by Axos Bank; Member FDIC

Account Access

Based on 119 reviews
Best choice overall for LLCs
1
  • Open multiple individual business accounts
  • Best-in-class accounting integrations
More info + Free Plan
2
  • 2.0% APY interest on eligible users’ balance
  • Quick & easy migration of existing bank accounts
More info + Free Plan
Best for single-member LLCs
3
  • Free & unlimited invoicing automation
  • Integration with 50+ automation tools
More info + Free Plan
4
  • Fee-free Chase ATMs at 15,000 locations
  • Same-day cash deposits at no additional cost
More info + $15/$30/$95 month
5
  • Unlimited fee-free transactions
  • Venture debt loans available for startups
More info + Free Plan
6
  • Domestic ATM fee reimbursements
  • Eligible customers earn 1.01% APY up to $50k
More info + $10/month

Why is it Important to Open a Business Bank Account?

Dedicated bank accounts are a smart investment for LLC owners who want to promote growth. Such accounts provide an organized way of tracking money and create a more professional image while separating business and personal finances. Maintaining a clear understanding of your company’s financial position is paramount, and segregated accounts offer clear advantages. Establishing a discrete financial account empowers your LLC to perform better, achieve long-term success, and prevent money-related confusion.

Why is it Important to Open a Business Bank Account?

Dedicated bank accounts are a smart investment for LLC owners who want to promote growth. Such accounts provide an organized way of tracking money and create a more professional image while separating business and personal finances. Maintaining a clear understanding of your company’s financial position is paramount, and segregated accounts offer clear advantages. Establishing a discrete financial account empowers your LLC to perform better, achieve long-term success, and prevent money-related confusion.

How to Compare and Choose the Best Business Checking Account?

Features Icon
Banking Features
At the core, check for payment options, local and international money transfer services, corporate cards, account types and currencies available as well as invoicing and bookkeeping tools.
Fees Icon
Fees
Look for accounts offering simple & clear-cut plans, minimal or no fees on transfers & payments and free withdrawal options.
Corporate Card
All business accounts include corporate cards for you & your employees – either through MasterCard or Visa. Check how many cards are included for free in your chosen plan & how much each additional card will cost if required.
Security Icon
Security
The banks we compare & review on Top10BusinessBanks.com are regulated by local authorities. FDIC regulates deposit insurance to at least $250,000
Accounting Icon
Accounting Tools
Look for built in expense reporting, scheduled/recurring payments & direct debits. Most banks also offer seamless integration with bookkeeping & accounting tools.
Access Icon
Account Access
Today, some banks offer account access 24 hours a day, 7 days a week. While the majority of providers offer access via both mobile and desktop/web apps, some business banks only offer one or the other so check you have the access you need when selecting your preferred bank.

How to Compare and Choose the Best Business Checking Account?

Features Icon
Banking Features
Accordeon button
At the core, check for payment options, local and international money transfer services, corporate cards, account types and currencies available as well as invoicing and bookkeeping tools.
Fees Icon
Fees
Accordeon button
Look for accounts offering simple & clear-cut plans, minimal or no fees on transfers & payments and free withdrawal options.
Corporate Card
Accordeon button
All business accounts include corporate cards for you & your employees – either through MasterCard or Visa. Check how many cards are included for free in your chosen plan & how much each additional card will cost if required.
Security Icon
Security
Accordeon button
The banks we compare & review on Top10BusinessBanks.com are regulated by local authorities. FDIC regulates deposit insurance to at least $250,000
Accounting Icon
Accounting Tools
Accordeon button
Look for built in expense reporting, scheduled/recurring payments & direct debits. Most banks also offer seamless integration with bookkeeping & accounting tools.
Access Icon
Account Access
Accordeon button
Today, some banks offer account access 24 hours a day, 7 days a week. While the majority of providers offer access via both mobile and desktop/web apps, some business banks only offer one or the other so check you have the access you need when selecting your preferred bank.