The best business bank accounts for freelancers cost nothing each month, help you set money aside for taxes and keep your business income separate from your personal life. After comparing fees, interest and tax tools on each provider’s website, these are our picks for 2026:
- Found: best for putting your taxes on autopilot
- Lili: best for saving with tax buckets and interest
- Bluevine: best for earning interest on your checking balance
- Relay: best for splitting money into many accounts
- Novo: best simple free account for online freelancers
- Chase Business Complete Banking: best if you handle cash or want a branch
Whether you work as a sole proprietor or run an LLC, any of these can be your main business account. Not sure which structure you have? Read our guide on LLC vs sole proprietor.
Business bank accounts for freelancers compared
| Account | Monthly fee | Interest | Cash deposits | Best for |
|---|---|---|---|---|
| Found | $0 (paid plans $35–$80) | Paid plans only: 1.50%–2.50% APY | Retailers: 1 free a month, then $2 | Automatic tax savings |
| Lili | $0 (paid plans $15–$55) | 2.25% APY on savings up to $500,000 | Retailers, which may charge up to $4.95 | Tax buckets plus interest |
| Bluevine | $0 (paid plans $30–$95) | 1.3% APY with monthly activity | ATMs ($1 + 0.5%) or retailers ($4.95) | Interest on checking |
| Relay | $0 (paid plans $30–$90) | 1.19% APY on savings | Allpoint+ ATMs free; retailers up to $4.95 | Many sub-accounts |
| Novo | $0 | None | Not accepted | Simple online banking |
| Chase Business Complete | $15, can be waived | None | $5,000 free per cycle in branch | Cash and branches |
Fees and rates checked on each provider’s website in October 2026. They change often, so confirm the current terms before you open an account.
What to look for in business bank accounts for freelancers
A freelancer’s needs are different from a store’s or a startup’s. Before you pick, check these five things:
- No monthly fee. Most online accounts are free, so there’s rarely a reason to pay just to hold your money.
- Tax tools. Sub-accounts or “pockets” let you move a share of each payment aside for taxes. Our guide on how much to set aside for taxes shows what percentage to use.
- Easy quarterly payments. Some apps even let you pay your quarterly estimated taxes straight from the account.
- Interest. Your tax money sits for months, so a savings rate of 1% to 2% earns you something along the way.
- Cash deposits. If clients ever pay in cash, make sure the account accepts it and check the fee.
Reviews of the 6 best accounts
Found
Found is built for self-employed people, and its tax tools are the best we’ve seen. A Taxes Pocket automatically sets aside part of every payment. The app also estimates your taxes in real time and can generate a Schedule C at the end of the year.
- Cost: the basic plan is free, with no minimum balance. Found Plus costs $35 a month and pays 1.50% APY on up to $20,000. Found Pro costs $80 a month and pays 2.50% APY with no cap.
- Extras: unlimited free invoicing and up to 20 sub-accounts.
- Cash: deposits at more than 79,000 retailers, with one free deposit a month and $2 after that.
- Bank partner: Lead Bank, Member FDIC, up to $250,000.
The catch: quarterly tax payments from the app and interest are only on the paid plans.
Lili
Lili combines a free checking account with savings that pay 2.25% APY on balances up to $500,000. That makes it a strong home for your tax money.
- Cost: Lili Core is free. Pro costs $15 a month, Smart $35 and Premium $55, with discounts for the first three months.
- Tax tools: Pro sorts expenses into tax categories. Smart and Premium add automatic tax savings, bookkeeping and unlimited invoicing.
- Cash: deposits at more than 90,000 retailers. Lili doesn’t charge, but the store may charge up to $4.95.
- Bank partner: Sunrise Banks, N.A., Member FDIC, with coverage up to $3 million through a sweep network.
The catch: the best tax features cost $35 a month or more.
Bluevine
Bluevine is the pick if you want your checking balance to earn interest. Its free Standard plan pays 1.3% APY on balances up to $250,000. To qualify, you spend $500 a month with the debit card or receive $2,500 a month in deposits.
- Cost: Standard is free, with no overdraft fees and no minimum balance. Plus costs $30 a month for 1.75% APY, and Premier costs $95 a month for 3.0% APY.
- Cash: at Allpoint+ ATMs for $1 plus 0.5% of the deposit, or at Green Dot retailers for $4.95.
- Bank partner: Coastal Community Bank, Member FDIC, with coverage up to $3 million through program banks.
The catch: it has fewer tax-specific tools than Found or Lili.
Relay
Relay is ideal if you like to split income into separate accounts for taxes, profit and expenses. Even the free plan includes 20 checking accounts.
- Cost: Starter is free and pays 1.19% APY on savings. Grow costs $30 a month for 1.87% APY, and Scale costs $90 a month for 3.21% APY.
- Extras: invoicing, unlimited users and integrations with QuickBooks and Xero.
- Cash: free at Allpoint+ ATMs. Green Dot retailers may charge up to $4.95.
- Bank partner: Thread Bank, Member FDIC, with extra coverage through a sweep program.
The catch: it’s designed for teams too, so some features are more than a solo freelancer needs.
Novo
Novo is a clean, free account for freelancers who work online. There’s no monthly fee and no minimum balance, and Novo refunds up to $7 a month in ATM fees.
- Tax tools: Reserves lets you set money aside for taxes inside your account.
- Extras: free invoicing, unlimited ACH transfers and integrations with Stripe, Shopify, QuickBooks and Square.
- Bank partner: Middlesex Federal Savings, F.A., Member FDIC, up to $250,000.
The catch: Novo doesn’t accept cash deposits, and it pays no interest.
Chase Business Complete Banking
Chase is the only traditional bank on our list. It makes sense if you take cash, deposit checks often or simply want a branch nearby.
- Cost: $15 a month. You can avoid it with a $2,000 minimum daily balance, $2,000 in Chase QuickAccept deposits or $2,000 in Chase business card spending.
- Cash: up to $5,000 in branch cash deposits free every statement cycle.
- Extras: QuickAccept lets you take card payments with same-day deposits at no extra fee.
The catch: the account pays no interest, and the fee applies if you don’t meet a waiver.
Are business bank accounts for freelancers safe?
Most of the apps on this list are financial technology companies, not banks. Your money is held at a partner bank that’s insured by the FDIC, usually up to $250,000. Some apps raise that limit to $3 million by spreading deposits across several banks.
However, FDIC insurance protects you if the partner bank fails, not if the app company does. The FDIC explains the risks in its guide to banking with third-party apps. For that reason, keep your records, check which bank holds your money and avoid keeping more than you need in any one app.
How to open a business bank account
Opening an account online usually takes 10 to 15 minutes. You’ll need:
- Your Social Security number or an EIN
- A government-issued photo ID
- Your business name, or your own name if you’re a sole proprietor
- Your LLC’s formation documents, if you have an LLC
- A U.S. address
After that, move your client payments to the new account and pay business expenses only from it. Mixing personal and business money makes taxes harder and, for an LLC, can weaken your liability protection.
Frequently asked questions
Do freelancers need business bank accounts?
Sole proprietors aren’t legally required to have one. Still, a separate account makes bookkeeping and taxes much easier, and it looks more professional to clients. If you have an LLC, a separate account is strongly recommended.
Which business bank accounts for freelancers have no fees?
Found, Lili, Bluevine, Relay and Novo all offer free plans with no minimum balance. Chase charges $15 a month unless you meet one of its waivers.
Can I open a business account with just my SSN?
Yes. As a sole proprietor, you can usually open an account with your Social Security number. Many freelancers still get a free EIN to keep their SSN private.
Is interest on a business account taxable?
Yes. Interest counts as income, and you’ll usually get a Form 1099-INT if you earn $10 or more in a year.
This article is for general information only and is not financial advice. Self Finance Hub may earn a commission from some providers in the future, but that doesn’t affect our rankings. Check each provider’s current terms before you open an account.