Best Business Bank Accounts for LLC: April 2026
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The best banks for LLCs have low fees and perks to help your business grow. Compare business banking options to find your match.
Here are some of the top options for LLCs:
- U.S. Bank: best traditional bank with free checking
- Relay: best for multiple checking accounts
- Lili: best business checking with accounting
- Chase: best for physical businesses that take credit cards
- Bank of America: best for cash deposits
- Bluevine: best for earning interest
- Novo: best for integrating business tools
- Wells Fargo: best SBA Lender
- Capital One: best for high activity
- Mercury: best for tech startups
- Digital Federal Credit Union: best credit union for business
- Live Oak Bank: best business savings account
Business Checking Promotions for April 2026
Chase Business Complete Banking® - Up to $500 Bonus
- Earn up to $500 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
- Get added features at no additional costs. Choose Chase Business Complete Banking® to get a fully integrated business solution that can help you control costs. Waive the $15 Monthly Service Fee in multiple ways like keeping a minimum $2,000 balance, plus use built-in offerings such as card acceptance, invoicing, Chase Customer Insights and Tap to Pay on iPhone at no additional cost.
- Bank with confidence. Feel confident knowing we have the largest branch network in the U.S. with 5,000 branches that provide personalized service and can help with your complex banking needs. You can also benefit from our account protection services, which provide safeguards by overseeing employee account activity, monitoring checks, and offering additional protection for your business.
- Access top-rated online business banking. Take advantage of our #1-ranked online small business banking platform with a comprehensive set of features designed for small business owners like you. Our tools enhance your ability to manage cash flow, accept and make payments, create invoices and plan for growth, so you can streamline processes and gain greater control of your finances.
U.S. Bank Business Essentials - $400 Bonus
Promo code Q2AFL26 MUST be used when opening a U.S. Bank Business Essentials® or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
To earn a business checking bonus, open a qualifying U.S. Bank business checking account between 4/01/2026 and 6/30/2026. Make the required deposit(s) in new money within 30 days of account opening, maintain the same required daily balance through the 60th day, and complete 6 qualifying transactions based on posted date within 60 days of account opening.
Business Essentials: $400 bonus with $5,000 deposits and daily balance
Qualifying transactions include debit card purchases, ACH and wire credits or debits, Zelle credits or debits, U.S. Bank mobile check deposit, electronic or paper checks, bill pay (excluding payments made by credit card), and payment received via U.S. Bank Payment Solutions. Other transactions, such as person-to-person payments, credit card transfers, or transfers between U.S. Bank accounts, are not eligible.
New money is defined as funds from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees may reduce the required daily balance during the qualifying period.
Bonus will be deposited into your new eligible U.S. Bank business checking account within 30 days after the month-end in which all offer requirements are met, provided the account remains open with a positive available balance.
Offer may not be combined with other business checking bonus offers. Existing businesses with a business checking account or had one closed within the past 12 months, do not qualify.
All regular account-opening procedures apply. For full checking account pricing, terms and policies, refer to your Business Pricing Information, Business Essentials Pricing Information, and YDAA disclosure. These documents are available at any U.S. Bank branch or by calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice.
Member FDIC
Free Business Checking - Earn $500 Bonus
To earn the $500 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 09/30/2026 using the referral code CD500.
After opening your account, deposit a total of $5,000 within the first 30 days. After 30 days, maintain a minimum daily balance of $5,000 while also completing at least one of the following eligibility requirements every 30 days for 90 days:
- Deposit at least $5,000 from eligible merchant services to your Bluevine account OR
- Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers OR
- Spend at least $2,000 on eligible transactions with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®
Banking services provided by Coastal Community Bank, Member FDIC
LLC business owners have different banking needs than freelancers and sole proprietors.
Limited liability companies are legally required to have a separate business banking account. This is so the LLC and owners remain separate entities.
That's why it's extra important to pick the right bank for your LLC. Not only is it a home for your business finances, but it also helps provide protection if your business is sued.
Most business bank accounts accept LLCs, but they're not all the same. Here are the best business accounts with benefits for LLCs.
U.S. Bank: Traditional Bank with Free Checking
U.S. Bank is one of the few large financial institutions with a free business checking option. The Business Essentials account has no monthly fees or minimum balance requirements.
And they even offer generous cash bonuses for new customers. That's pretty sweet considering that the account is free.
U.S. Bank Business Essentials - $400 Bonus
- Minimum Deposit to Open: $100
- Monthly Fee: $0 monthly maintenance fee
- ATMs: No fees at U.S. Bank ATMs
Why we like U.S. Bank:
U.S. Bank has 2,000+ branches. It's a good option if you're a small local business and want in-person banking and human support.
You get convenient access to your money wherever you are. Besides its own U.S. Bank ATMs, you can also use approximately 40,000 MoneyPass ATMs with no surcharge fees.
When you're ready to grow your LLC, U.S. Bank also offers small business loans (including SBA loans), payment processing, cash management services, and payroll.
Downsides:
The Business Essentials account has lower free physical transaction limits per month.
U.S. Bank Business Essentials - $400 Bonus
Promo code Q2AFL26 MUST be used when opening a U.S. Bank Business Essentials® or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
To earn a business checking bonus, open a qualifying U.S. Bank business checking account between 4/01/2026 and 6/30/2026. Make the required deposit(s) in new money within 30 days of account opening, maintain the same required daily balance through the 60th day, and complete 6 qualifying transactions based on posted date within 60 days of account opening.
Business Essentials: $400 bonus with $5,000 deposits and daily balance
Qualifying transactions include debit card purchases, ACH and wire credits or debits, Zelle credits or debits, U.S. Bank mobile check deposit, electronic or paper checks, bill pay (excluding payments made by credit card), and payment received via U.S. Bank Payment Solutions. Other transactions, such as person-to-person payments, credit card transfers, or transfers between U.S. Bank accounts, are not eligible.
New money is defined as funds from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees may reduce the required daily balance during the qualifying period.
Bonus will be deposited into your new eligible U.S. Bank business checking account within 30 days after the month-end in which all offer requirements are met, provided the account remains open with a positive available balance.
Offer may not be combined with other business checking bonus offers. Existing businesses with a business checking account or had one closed within the past 12 months, do not qualify.
All regular account-opening procedures apply. For full checking account pricing, terms and policies, refer to your Business Pricing Information, Business Essentials Pricing Information, and YDAA disclosure. These documents are available at any U.S. Bank branch or by calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice.
Member FDIC
Relay: Best for Multiple Checking Accounts
As your business grows, you might start sharing banking duties with your team. And one bank account just doesn't cut it anymore.
That's where Relay Financial steps in. It's designed to empower you and your team to manage multiple accounts while keeping everything organized.
No-Fee Business Checking
- Minimum Deposit to Open: $0
- Balance Requirement: $0
- Monthly Fee: $0
- APY: Earn up to 2.68% APY. Earn 0.91% APY on Starter Plan, 1.55% APY on Grow Plan, and 2.68% APY on Scale Plan.
- ATMs: 55,000+ Allpoint ATMs
- Perks: Up to 20 checking accounts, 50 debit cards, and free checks
Why we like Relay:
Relay lets you open up to 20 individual business checking accounts and up to 2 automated savings that earn interest. Plus, issue up to 50 debit cards - all without extra fees.
User permission settings will make sure everyone has the right level of access. This frees up your time if your team can help pay bills, make purchases, deposit checks, and more.
You can designate each debit card for a dedicated purpose (for example, marketing expenses), and set spending limits for each team member. This lets you keep your costs under control and stay on budget.
Relay also integrates with QuickBooks, Xero, Expensify, Gusto, Plaid, and Wise.
No-Fee Business Checking
- $0 monthly service fee
- $0 minimum opening deposit
- Open up to 20 individual business checking accounts
- Earn up to 2.68% APY with automated savings
- Issue up to 50 Visa® debit cards to your team
Downsides:
With the free Relay Starter plan, you can connect to QuickBooks Online or Xero to enable Bill Pay. While the Starter plan allows you to sync payments and manage vendors, advanced features like customizable approval rules are reserved for higher-tier plans.
Lili: Best Checking with Accounting
Handling business finances can be tricky. Lili is a one-stop shop for business banking, accounting, and taxes - streamlining your operations so you can scale without hiccups.
If you're just starting out, Lili has a basic business checking account that's totally free, no monthly fees at all.
And when your LLC grows and needs more, you can upgrade to one of the paid plans. These come with tools for managing expenses, accounting, and tax preparation. You don't need to use and pay for different software.
Free Checking Account for Small Business Owners
- Minimum Deposit to Open: $0
- Balance Requirement: $0
- Monthly Fee: $0
- APY: up to 4.00% APY on savings
- ATMs: Approximately 40,000 MoneyPass ATMs
- Perks: Get direct deposits up to 2 days earlier
Why we like Lili:
Taxes are stressful, but Lili makes them a breeze. If you upgrade to the Lili Pro plan, it lets you categorize your transactions into tax categories, so you don't miss any write-offs.
Plus, every time you get paid, Lili sets aside the correct percentage into a Tax Bucket. That way, you're always ready for your quarterly self-employment tax payment, and it's not such a pain each time.
And what's more? Lili also generates expense reports and even pre-fills your annual tax form. You can just directly file with the IRS without breaking a sweat.
Downsides:
The tax planning features are only available with the paid plans that start at $15.00 per month. And only the paid plans offer bookkeeping tools, cashback rewards, and invoicing.
Free Checking Account for Small Business Owners
- Sign up in 3 minutes; no credit check
- No account fees - $0 monthly fee, overdraft fee, foreign transaction fee, or ATM fees at approximately 40,000 locations
- Automatic Savings
- Get paid up to 2 days early
- Savings with up to 4.00% APY
Lili Pro Business Checking
- $15.00 monthly service fee (30 day free trial)
- Track write-offs with a swipe
- Auto-save for taxes
- Savings with up to 4.00% APY
- Cashback with selected merchants
- Fee-free Overdraft up to $200
Chase: Best for Physical Businesses
Chase is one of the best banks in the U.S. in terms of branches, products, and customer service.
It offers a unique Chase Business Complete Banking account that has built-in payment processing. It's a great choice for LLCs that accept credit card payments. You don't need to open a separate merchant account, so it saves you time and hassle.
Chase also has frequent welcome offers for new customers. Check out the current bonus offer below!
Chase Business Complete Banking® - Up to $500 Bonus
- Earn up to $500 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
- Get added features at no additional costs. Choose Chase Business Complete Banking® to get a fully integrated business solution that can help you control costs. Waive the $15 Monthly Service Fee in multiple ways like keeping a minimum $2,000 balance, plus use built-in offerings such as card acceptance, invoicing, Chase Customer Insights and Tap to Pay on iPhone at no additional cost.
- Bank with confidence. Feel confident knowing we have the largest branch network in the U.S. with 5,000 branches that provide personalized service and can help with your complex banking needs. You can also benefit from our account protection services, which provide safeguards by overseeing employee account activity, monitoring checks, and offering additional protection for your business.
- Access top-rated online business banking. Take advantage of our #1-ranked online small business banking platform with a comprehensive set of features designed for small business owners like you. Our tools enhance your ability to manage cash flow, accept and make payments, create invoices and plan for growth, so you can streamline processes and gain greater control of your finances.
Why we like Chase:
It's really convenient to get credit card processing with your checking. And what's even better? You get same-day deposits into your checking account when you take payments with the Chase QuickAccept reader.
If you have a separate merchant account, it usually takes 1-2 business days to receive funds from your sales. But you can get it the same day with Chase, which frees up your cash flow so you can do more with your money.
As your LLC grows, Chase offers two higher-tier business checking accounts with higher transaction and cash deposit limits.
Chase is also well known for their business credit cards. They offer some of the best sign-up bonuses, cashback, and travel rewards.
Downsides:
Their business bank accounts have higher minimum requirements than other big banks to waive the monthly fees.
Bank of America: Best for Cash Deposits
Bank of America is a great choice for new small local businesses that want in-person support. It stands out from other traditional banks with its built-in tools to help you manage your business.
Their Business Advantage Banking account lets you switch between 2 tiers. Businesses don't just stay the same, so this lets you be totally flexible if your business income fluctuates.
Business Advantage Fundamentals™ Banking
- Best for new businesses with simple banking needs.
- No fee for first 20 transactions per statement cycle.
- No fee for first $5,000 in cash deposited per statement cycle at an ATM or Financial Center.
- Bank of America, N.A. Member FDIC
- Minimum Deposit to Open: $100
- Balance Requirement: None
- Monthly Fee: $16 or $0 – No monthly fee for the first 12 statement cycles. To avoid the Monthly Fee after, meet one of the following requirements each statement cycle:
- Maintain a $5,000 combined average monthly balance in eligible linked business deposit accounts.
- Use your Bank of America business debit card to make at least $500 in new net qualified purchases.
- Be a member of Preferred Rewards for Business (first 4 checking accounts per enrolled business)
- APY: N/A
Why we like Bank of America:
The basic tier business checking account has more generous transaction limits compared to other big banks. There's no excess transaction fee for the first 20 transactions and the first $5,000 in cash deposited per statement cycle. When you outgrow it, just level up to the next tier with no hassle.
BofA also has better digital tools than other basic accounts. You can connect your checking account with apps like QuickBooks, Google Analytics, Expensify, and more. This gives you a crystal clear view of how you're doing.
You even get cash flow projections based on your scheduled transactions. So you can make the best plan for your business and stay ahead of the game.
And if you need help along the way, Bank of America's dedicated business specialists are there to listen to your needs and provide guidance when you need it. You can rest easy knowing someone's got your back.
Downsides:
Bank of America charges many other banking fees, like overdrafts, stop payments, and wires.
Bluevine: Best for Earning Interest
Bluevine stands out for the high interest rate. You get 3.00% APY on balances up to $3M for Premier customers; 1.75% APY on balances up to $250,000 for Plus customers; 1.30% APY on balances up to $250,000 for Standard tier customers that meet monthly eligibility requirements.
And with free unlimited transactions and a free basic account, you get to keep more of your money while watching it grow.
Bluevine gives you the best of both worlds. You get the high APY, but also good traditional banking features. So it works for lots of different businesses - even those with a physical presence.
Free Business Checking - Up to 1.3% APY
- Minimum Deposit to Open: $0
- Balance Requirement: $0
- Monthly Fee: $0
- APY: 1.3% APY on balances up to $250,000 with monthly eligibility requirements; 0% APY on balances over $250,000
- ATMs: Approximately 40,000 MoneyPass ATMs
- Perks: 1 free checkbook for the life of the account; No non-sufficient funds fee
Why we like Bluevine:
You get one free checkbook for the life of your account with the Standard plan, two per year with Plus, and three per year with Premier. That's huge, because most business bank accounts don't give free checks. This is great if you have vendors/employees who prefer paper checks.
Plus, the Bluevine Business Debit Mastercard® gives you up to 20% on cashback on popular business services and up to 4% on eligible hotels, dining, and gas.[1]
And if you deal with cash, it lets you deposit cash at 90,000+ Green Dot locations and 1,500+ Allpoint+ ATMs.[2] You can find Green Dot at convenient spots like 7-Eleven, CVS, Rite Aid, and grocery stores.
Bluevine also gives you free subaccounts with their own dedicated account numbers. This lets you better manage your business budgets because you can assign accounts for specific expenses. And you earn interest on all accounts.
Bluevine offers integrated invoicing and Stripe-powered payment links. Create and send unlimited free branded invoices from your dashboard, accept multiple payment methods, and receive payments directly into your Bluevine account.
Free Business Checking - Earn $500 Bonus
To earn the $500 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 09/30/2026 using the referral code CD500.
After opening your account, deposit a total of $5,000 within the first 30 days. After 30 days, maintain a minimum daily balance of $5,000 while also completing at least one of the following eligibility requirements every 30 days for 90 days:
- Deposit at least $5,000 from eligible merchant services to your Bluevine account OR
- Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers OR
- Spend at least $2,000 on eligible transactions with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®
Banking services provided by Coastal Community Bank, Member FDIC
Premier Business Checking - 3.00% APY
- 3.00% APY on balances up to $3,000,000
- $0 minimum opening deposit
- 50% off most Standard payment fees
- Priority customer support
- Waive the $95 monthly service fee with $100k average daily balance and $5k debit card spend
Plus Business Checking - 1.75% APY
- 1.75% APY on balances up to $250,000
- $0 minimum opening deposit
- 20% off most Standard payment fees
- Waive the $30 monthly service fee with $20k average daily balance and $2k debit card spend
Downsides:
It costs $4.95 per deposit at Green Dot locations or $1 + 0.5% of the deposit amount at Allpoint+ ATMs. [3] This can add up fast if your business deals a lot in cash.
Can't live without your business tools? This next account makes life easier for the modern entrepreneur.
Novo: Best Digital Integrations
If you have an online-based LLC and use a lot of business software, Novo could be a game-changer.
Novo is a high-tech account that lets you integrate your business checking with thousands of business tools, such as Shopify, QuickBooks, and Slack.
You can manage your entire business life from one place. No more juggling a million different apps.
Free Business Checking
- Minimum Deposit to Open: $50
- Balance Requirement: $0
- Monthly Fee: $0
- APY: N/A
- ATMs: Up to $7 per month ATM fee reimbursement worldwide
- Perks: Thousands of dollars in exclusive perks from popular business services
Why we like Novo:
You can create up to 20 Reserves at no extra cost. This gives you plenty of savings accounts to set aside cash for the important stuff, like taxes or an upcoming large purchase.
It also has built-in invoicing. You can send free, unlimited invoices straight from the app or online dashboard.
Plus, Novo offers thousands of dollars in savings from popular business services (such as discounts with Stripe and Gusto). The offers change often. If you use them, you can get a lot of value.
Downsides:
Novo doesn't let you deposit cash, so it's best for purely online businesses.
Free Business Checking
- $0 monthly service fee
- $50 deposit to unlock all features
- ATM fee refunds up to $7 per month
As your business expands, you may need more capital. This next option could be the key to your growth.
Wells Fargo: Best SBA Lender
Wells Fargo has the largest national footprint, with approximately 4,100 branches in 36 states + D.C.
It's also one of the top SBA 7(a) lenders. If you think your LLC might need a loan in the future, it's smart to choose a bank known for approving these loans.
Initiate Business Checking
- 100 free transactions each fee period
- $5,000 in cash deposits processed free each fee period
- $25 minimum opening deposit
- Waive the $15 monthly service fee by maintaining a $2,000 minimum daily balance or a $5,000 average combined business deposit balance, OR own a Premier® Checking, Private Bank Checking, or Private Bank Interest Checking account
The information for Initiate Business Checking has been collected independently by CreditDonkey. The details on this page have not been reviewed or provided by the bank.
- Balance Requirement: $2,000 minimum daily balance to waive $15 fee
- Monthly Fee: $15 (can be waived)
- ATMs: 11,000+ nationwide
Why we like Wells Fargo:
The Initiate Business Checking Account is a good starter account when you're new and don't have a ton of activity yet. It offers a manageable minimum balance requirement to waive the monthly fee.
If you start to outgrow it, you can upgrade to one of the two higher-tier business checking accounts. They come with higher monthly limits, plus premium benefits like banking fee waivers.
You can also customize your business debit card and checks with your own logo. This is a cool extra perk that will make you look more professional to clients and suppliers.
When you're ready to expand your LLC, Wells Fargo has pretty much all the financial products you might need. It also offers loans, payroll, tax programs, merchant services, treasury management, and business insurance.
Wells Fargo is one of the country's top SBA lenders, so it's a great go-to for SBA loans. It also has other business financing available, including credit lines and a business credit card.
Downsides:
All the business checking accounts have limited free transactions. Even the highest-tier account only gives you 250 free monthly transactions.
Capital One: Best for High Activity
Capital One is a hybrid traditional and online bank. It has an established history, but operates as primarily an online bank.
It offers a Basic Business Checking account with an unlimited number of digital transactions for no additional fees.
Basic Business Checking
- Unlimited free transactions each month
- $5,000 in free cash deposits each month
- Waive the $15 monthly service fee by maintaining a prior 30- or 90-day average balance of $2,000 or more
- Minimum Deposit to Open: $0
- Balance Requirement: $2,000 average balance to waive $15 fee
- Monthly Fee: $15 (can be waived)
- ATMs: 70,000+ Capital One, MoneyPass and Allpoint ATMs
Why we like Capital One:
Even the basic business checking account gives you unlimited transactions. This is good for businesses with a lot of online banking activity.
Capital One has a very big ATM network. You get fee-free ATM access to more than 70,000 ATMs in the Allpoint and MoneyPass networks.
Capital One also has a strong lineup of business credit cards with cashback or travel rewards. All their credit cards have no foreign transaction fees, so it's great if you travel abroad for business.
Capital One has one of the most extensive business credit lines available, allowing business owners to access up to $5 million in additional funding. It also has a great selection of SBA loans, including SBA 7(a), 504, and express lines.[4]
Downsides:
Checking accounts all have a monthly fee with higher minimum requirements to waive. Plus, you may need to visit a branch in-person to apply.
For the innovative startups out there, here's a banking option that might just fuel your next big breakthrough.
Mercury: Best for Tech Startups
Mercury is a digital banking account for tech startups. Your account comes with a business checking and savings account bundle.
Banking for Startups
- Minimum Deposit to Open: $0
- Balance Requirement: $0
- Monthly Fee: $0
- APY: N/A
- ATMs: 55,000+ Allpoint ATMs
Why we like Mercury:
All accounts get free read and write API access. This lets you build a unique banking experience to bank exactly the way you want. You can create custom dashboards, sweep rules, automate mass payments, and more.
Mercury also offers exclusive deals on dozens of business software. You can really get a lot of value out of it with the savings alone.
And here's the kicker - Mercury is about as free as it can get. There are no monthly fees, no overdraft fees, nothing for outgoing or incoming wire transfers, or for using out-of-network ATMs. The only charge you'll see is a 1% currency exchange fee for non-USD international wires.[5]
If you're short on funds, Mercury offers working capital loans for eligible businesses, which can help cover business expenses while waiting for revenue to come in. It also offers venture debt financing
, as well as a business credit card to Mercury account holders.Downsides:
You cannot deposit cash with Mercury. It's meant for online tech startups.
Digital Federal Credit Union: Best Credit Union
If you don't like the idea of a big bank, consider a credit union. Credit unions often have less fees and offer more personalized service. Plus, they strive to help local communities.
Digital Federal Credit Union lets anyone join by becoming a member of one of their participating organizations. The membership fee starts from just $8.
Why we like Digital Federal:
It offers a Free Business Checking account with no monthly maintenance fees or minimum balance requirements. You get 20 free deposits per day, so it's ideal for LLCs with lower activity.
You also get up to 4 business debit cards per account (upon approval) and unlimited free check-writing.
DCU has a very wide ATM network, making it convenient wherever you live. You get fee-free access to 80,000+ Allpoint, SUM, or CO-OP ATMs.
DCU offers several types of business financing to its members, including business loans and credit lines. It also has a good lineup of business credit cards.
Downsides:
Digital Federal is a small credit union, so it has limited services compared to the big banks. It only has physical branches in MA and NH, though anyone can open an account online.
Live Oak Bank: Best Business Savings Account
In addition to a business checking account, you also need a business savings account. It's an ideal place to save funds for an emergency, upcoming large purchases, or future expansion.
Get the most out of your business savings with a high interest rate. Live Oak Business Savings Account offers 2.85% APY with no monthly fees or minimum balance requirements.
Live Oak Bank offers business loans as its main business lending option. There are several types available, including express, USDA, and SBA loans.
Borrowable amounts range from $10,000 to $15 million, depending on the loan.
Business Savings - 2.85% APY
- Earn 2.85% APY
- No minimum balance requirement
- No monthly service fee
Business Premium Savings - Up to 3.60% APY
- Bundle with checking and unlock a bonus of up to $600.
- Discover the Axos Business Bundle, combining flexible checking with high-yield savings and earn an exclusive bonus up to $600. Use promo code SBB600.†
- Earn 3.60% APY* With Business Premium Savings
- Free domestic and international incoming wires
- No monthly maintenance fee
- No minimum opening deposit
- No average daily balance requirement
- Business deposit accounts FDIC insured up to $250k
Why LLCs Need a Business Bank Account
 |
LLCs are required to have a separate business bank account from their personal bank account.
Legally, LLCs are separate entities from the owners. This means you're protected from personal liability for business debts and legal claims. Without this protection, the court can go after your personal assets if you get sued.
But to maintain the legal separation, you have to separate business finances too. If you mix personal and business finances together, a court may decide that the LLC is just a front and hold you personally responsible.
No, you don't need an LLC to open a business bank account. However, depending on your business structure, you might be asked to provide additional documents, like a DBA, business registration, and EIN. Explore the business checking promotions to find offers that align with your business needs.
How many business bank accounts should my LLC have?
Your LLC should have at least 3 bank accounts, each for a different purpose.
- Business Checking Account: Use this as an income account. Deposit all earnings here and then transfer them to the business savings account.
- Business Savings Account: This is your reserve savings account for excess funds. Keep the account number confidential to safeguard the funds.
- Business Interest Checking Account: Use this for outgoing payments like bills, payroll, and credit card payments. And earn some interest at the same time.
| Account Type | Offer |
|---|---|
| Business Checking | Lili: |
| Business Savings | Axos Bank: |
| Business Interest Checking | Bluevine: |
Fintech business account providers like Novo and Bluevine allow you to open a business bank account in just a few minutes. But if you prefer traditional banks with physical branches, Wells Fargo, Chase, and Bank of America are excellent choices.
What to Consider When Choosing the Best Bank for Your LLC
LLCs may have different banking requirements than a freelancer or sole proprietor. Here are some things to consider when choosing the best bank account for your LLC.
- Physical or online bank
If you're a small local business, it may be important to have brick-and-mortar locations where you can easily deposit cash and get help.If you're okay with completely online and mobile banking, an online-only bank may help you save on fees. Plus, many have more innovative features.
You can form an LLC as a single member or with multiple owners. If you have multiple owners, look for a bank that allows for joint accounts. - Monthly maintenance fees
Some banks (especially traditional banks) charge a monthly fee unless you keep a certain minimum balance in the account. This doesn't have to be a dealbreaker. Just make sure you can comfortably meet the requirements. - A bank that can grow with you
You might quickly outgrow a basic business checking account. See if the bank also offers higher-tier business accounts with more transactions, features, or rewards. It can be a hassle to switch business accounts, so keep the future in mind when choosing an account now. - Employee access and banking
Do you need to share access with employees and/or accountants? Look for an account that supports multiple users and permission settings. - ATM access
If you need to withdraw funds or deposit cash, you'll want a bank account that lets you do so. If you don't, then a completely online business bank account may be fine for you. - Other services
As your LLC keeps growing, you'll probably need more services. You may need a small business loan, employee programs, or cash flow management.Look at what other services the bank provides if you want everything under one roof. It's important that your bank can help you reach your financial goals.
The main advantage of using the same bank is you already have an established relationship. This can make opening a business bank account for your LLC easier. However, it's still a good idea to shop around since rates, fees, and business products vary per bank.
What You Need to Open an LLC Bank Account
To open a business bank account as an LLC, you need to provide business documents to show that your LLC has been registered with the state. Requirements include:
- Name, address, and date of birth
- Driver's license or state ID
- SSN or Employer Identification Number (EIN)
- Articles of Organization - certificate establishing the LLC with your state
- LLC Operating Agreement - a document outlining the ownership and member duties of the LLC
- DBA - if your LLC is doing business under a different name
- Business license
If your LLC has more than one owner, you'll usually also need to provide personal details for each who owns 25% or more of the business. (Varies by bank.)
Most banks will let you open an LLC bank account online in minutes. Some traditional banks may require that all owners meet with a banker in person to apply.
The cost of opening a business bank account varies per bank and account type. Some banks require an opening deposit (usually around $25 to $100) to open one. Others only have a monthly fee, which is typically $10 to $30/mo, that you can waive if you meet the minimum balance requirements.
Methodology
To find the best business bank accounts for LLCs, we considered the different types of businesses. LLCs can range from small single-owner operations to large companies with hundreds of employees. So it's important to find bank accounts for all scenarios.
First, we made sure that the banks have nationwide availability. We stuck to large national banks and online banks because they're not limited to a certain geographical area.
We looked for unique banking features for different LLCs. For example, a small retail shop might need credit card processing, while a tech startup might need advanced tools. The bank account should also offer growth potential as your LLC scales.
Finally, we believe that you shouldn't pay to bank. So all the accounts on our list are either free or have reasonable minimum requirements to waive the monthly fee.
What the Experts Say
CreditDonkey asked a panel of industry experts to answer readers' most pressing questions. Here's what they said:
Bottom Line
For LLCs, a business bank account is necessary to protect small business owners from personal liability. And if you have plans to grow, it's important that your bank can meet your growing needs.
Free Checking Account for Small Business Owners
- Sign up in 3 minutes; no credit check
- No account fees - $0 monthly fee, overdraft fee, foreign transaction fee, or ATM fees at approximately 40,000 locations
- Automatic Savings
- Get paid up to 2 days early
- Savings with up to 4.00% APY
Chase Business Complete Banking® - Up to $500 Bonus
- Earn up to $500 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
- Get added features at no additional costs. Choose Chase Business Complete Banking® to get a fully integrated business solution that can help you control costs. Waive the $15 Monthly Service Fee in multiple ways like keeping a minimum $2,000 balance, plus use built-in offerings such as card acceptance, invoicing, Chase Customer Insights and Tap to Pay on iPhone at no additional cost.
- Bank with confidence. Feel confident knowing we have the largest branch network in the U.S. with 5,000 branches that provide personalized service and can help with your complex banking needs. You can also benefit from our account protection services, which provide safeguards by overseeing employee account activity, monitoring checks, and offering additional protection for your business.
- Access top-rated online business banking. Take advantage of our #1-ranked online small business banking platform with a comprehensive set of features designed for small business owners like you. Our tools enhance your ability to manage cash flow, accept and make payments, create invoices and plan for growth, so you can streamline processes and gain greater control of your finances.
U.S. Bank Business Essentials - $400 Bonus
Promo code Q2AFL26 MUST be used when opening a U.S. Bank Business Essentials® or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
To earn a business checking bonus, open a qualifying U.S. Bank business checking account between 4/01/2026 and 6/30/2026. Make the required deposit(s) in new money within 30 days of account opening, maintain the same required daily balance through the 60th day, and complete 6 qualifying transactions based on posted date within 60 days of account opening.
Business Essentials: $400 bonus with $5,000 deposits and daily balance
Qualifying transactions include debit card purchases, ACH and wire credits or debits, Zelle credits or debits, U.S. Bank mobile check deposit, electronic or paper checks, bill pay (excluding payments made by credit card), and payment received via U.S. Bank Payment Solutions. Other transactions, such as person-to-person payments, credit card transfers, or transfers between U.S. Bank accounts, are not eligible.
New money is defined as funds from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees may reduce the required daily balance during the qualifying period.
Bonus will be deposited into your new eligible U.S. Bank business checking account within 30 days after the month-end in which all offer requirements are met, provided the account remains open with a positive available balance.
Offer may not be combined with other business checking bonus offers. Existing businesses with a business checking account or had one closed within the past 12 months, do not qualify.
All regular account-opening procedures apply. For full checking account pricing, terms and policies, refer to your Business Pricing Information, Business Essentials Pricing Information, and YDAA disclosure. These documents are available at any U.S. Bank branch or by calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice.
Member FDIC
No-Fee Business Checking
- $0 monthly service fee
- $0 minimum opening deposit
- Open up to 20 individual business checking accounts
- Earn up to 2.68% APY with automated savings
- Issue up to 50 Visa® debit cards to your team
Free Business Checking - Earn $500 Bonus
To earn the $500 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 09/30/2026 using the referral code CD500.
After opening your account, deposit a total of $5,000 within the first 30 days. After 30 days, maintain a minimum daily balance of $5,000 while also completing at least one of the following eligibility requirements every 30 days for 90 days:
- Deposit at least $5,000 from eligible merchant services to your Bluevine account OR
- Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers OR
- Spend at least $2,000 on eligible transactions with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®
Banking services provided by Coastal Community Bank, Member FDIC
Free Business Checking
- $0 monthly service fee
- $50 deposit to unlock all features
- ATM fee refunds up to $7 per month
Basic Business Checking - Up to $200 Bonus
- Open a Basic Business Checking account using promo code START200 by June 30, 2026.
- Every dollar counts when you're starting out. That's why new businesses can earn up to $200 opening a new Basic Business Checking account today.
- No initial deposit requirement
- No minimum balance requirement
- No monthly maintenance fees
- Free domestic incoming wires. Two (2) outgoing domestic wire fees reimbursed per month.
- Unlimited domestic ATM fee reimbursements
- Unlimited item processing (debits, credits, and deposited items)
- Cash deposits via MoneyPass and Allpoint networks
Think about what features are the most important to you (digital integrations, ATM access, loan services, etc.). From there, see which bank makes the most sense for your LLC - not only now, but also years into the future.
References
- ^ Bluevine. Business Debit Card, Retrieved 01/28/2026
- ^ Bluevine. Easy cash deposits and withdrawals., Retrieved 01/28/2026
- ^ Bluevine. Convenient Retail Deposits, Retrieved 01/28/2026
- ^ Capital One. Business Loans and Lines of Credit, Retrieved 01/28/2026
- ^ Mercury. Explore Pricing, Retrieved 01/28/2026
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
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