Best Business Bank Accounts for Freelancers [2025]

Freelancing gives you a lot of flexibility, but you also have to stay organized and on top of your work. And yes, that includes having a business bank account — not just a personal bank account — if you work as a freelancer. These accounts offer benefits personal accounts can't, like the abilities to send invoices, monitor your business cash flow, prepare for tax season, make bulk deposits, stay on a budget, and more. The best bank accounts for freelancers make it easier to perform these vital tasks while helping you save time and money.

Our top picks for bank accounts for freelancers are Lili¹ <p>Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC.</p> and Found, but we've selected several other great options that may be better for you, depending on what you're looking for. Learn more about our picks for the top bank accounts for freelancers.

Best bank accounts for freelancers compared

Lili

Lili is a great bank account for freelancers who want their banking, accounting, and taxes all in one place. Two of Lili's premium plans, Lili Smart and Lili Premium, have features like smart bookkeeping and auto-generated tax reports that can save you a lot of time preparing for tax season. You can even connect your favorite accounting software, such as QuickBooks, Xero, and others, to streamline your tax preparation. That way, you can focus on growing your business and not on tax preparation.

Lili business checking accounts are available for all types of businesses. You can operate a sole proprietorship, LLC, or S-Corporation and still open an account. The online bank has resources that let you stay on top of your expenses and know exactly what is happening within your business.

Lili does not have any minimum deposit requirements. It also doesn't have overdraft fees, ACH fees, foreign transaction fees, or incoming domestic wire transfer fees. You can make an unlimited number of transactions with your business checking account, and the company even supports joint business checking accounts.

The bank offers a generous 3.00% (as of 01/01/25) APY, but you must have a paid account to receive interest. 

Lili's accounts are FDIC-insured through its partner bank, Sunrise Banks.

Read our Lili review

Found

Found makes it easy to analyze your cash flow, create budgets, and is one of the best online banks for tax season. Found has tax tools that estimate your tax bill in real time. The tool also uses auto-categorization to help you find tax write-offs, and you can pay your tax bill right from the app (for Schedule C filers only).

Like many other accounts on this list, Found doesn't have any minimum balance requirements or maintenance fees. It's also useful if you have a team and want to give them unique debit cards because you can create and share virtual debit cards, then track each debit card, set limits, and lock any card if necessary.

However, Found isn't the best freelancer bank account for earning interest. You must become a Found Plus member, which costs $19.99 per month. You can save money by opting for $149.99 per year membership. You should be just fine with a free account, but you need a paid account to earn interest.

Even with the paid account, the interest isn't much. The 1.50% (as of 04/11/25) APY caps out after your balance exceeds $20,000 (up to $300 per year in interest). That's not much considering you have to pay $149.99 per year for the privilege to collect interest from a Found checking account. Found has great tools and resources for freelancers, but you will get higher yields with other online banks.

Found is a financial technology company, not a bank. Business banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category.

Grasshopper

Grasshopper offers a business checking account with a high yield for a checking account, cashback on online and signature-based purchases, and no monthly fees. The bank has several features freelancers will enjoy, too, such as sending digital invoices, managing cash flow, and automated bookkeeping.

One of its better features is probably its partner marketplace, which is filled with discounts for popular business tools like Slack, Visme, and Ramp. Perks range from a free monthly subscription and product discounts to sign-on bonuses and a free credit line of up to $10,000.

Grasshopper doesn't even have a minimum balance requirement. However, if you encounter any issues over the weekend, you're on your own. Grasshopper's customer support team is available on weekdays from 9 a.m. to 9 p.m. Eastern, excluding federal holidays.

Member FDIC.

Bluevine

Bluevine is a fintech company that lets you earn up to 1.5%-3.70% (as of 05/02/25) APY with its checking account.

To qualify for the rate, you must spend $500 per month with your Bluevine Business Debit Mastercard or receive $2,500 per month in customer payments to your Bluevine checking account. The 1.5%-3.70% (as of 05/02/25) APY applies for the first $250,000 in your account, which means you could earn up to $5,000 per year in interest.

When you use the Bluevine debit card, you can earn a lot of cash back from your purchases. Some business services offer up to 20% cash back, while eligible hotels and restaurants result in 4% cashback if you use them for business.

You'll also get 1% cashback on fuel for business travel at eligible gas stations. These rewards are great, but consider using another card when a spending category does not qualify for cashback.

Bluevine also offers unlimited transactions, no monthly fees, and FDIC insurance of up to $3 million through Coastal Community Bank and the program banks that participate in its sweep network.

Chase Business Complete Banking

We recommend Chase Business Complete Banking if you're looking for a traditional bank and Chase is convenient for you. The Chase business account comes with a monthly service fee, but Chase offers several ways to waive this.

• $2,000 minimum daily ending balance
• $2,000 in eligible deposits
• $2,000 in eligible purchases from your Chase Ink Business Card
• Maintain a qualifying linked Chase account
• Meet Chase Military Banking requirements

You have to meet at least one of these requirements each statement period to waive the $15 per month fee.

You can use this account to accept credit card payments without any hidden fees or monthly contracts via Chase QuickAccept. Deposits arrive in your account on the same day for no additional charge.

Chase is FDIC insured.

Novo

Novo is a fintech company that offers a suite of online business banking solutions in one platform. The bank's Novo Reserves feature makes it easier to allocate funds for specific categories for budgeting purposes. It's similar to having multiple personal checking accounts. 

Novo does not have any monthly fees or minimum balance requirements. Unfortunately, Novo does not offer any interest payments. You get access to great resources, but the trade-off is often a low yield or no interest at all.

The fintech company reimburses ATM fees, which is a nice perk. You could also save some money through the company's partnerships with top business brands like QuickBooks, Gusto, and Hubspot. However, you should look elsewhere if a high yield is your main motivation.

A Novo account also isn't right for you if you need to make cash deposits, as it doesn't support them. If you don't have much physical cash for your business and/or do everything online, it might be a good fit for you.

Novo is FDIC insured through its partner bank, Middlesex Federal Savings.

How to choose the best bank account for freelancers

The best checking account can do a lot for your business. It can help you save time and earn extra money. However, as a freelancer, you should prioritize different features and perks that fit your business best. Here are some to consider.

Fees

A monthly maintenance fee should disqualify most banks unless that financial institution offers reasonable ways to waive the fee. These monthly fees are archaic and can indicate that the bank charges more fees than others.

Tools and resources

It's a good idea to consider the business checking account's tools and resources. Some bank accounts offer tools that simplify your taxes, invoicing, budgeting, and ability to stay on top of your cash flow. Receiving auto-generated reports can save time and help you identify opportunities to reduce spending without weakening your business.

APYs

Annual percentage yield is a good starting point. Some business checking accounts will pay you just to keep money in your account. You may need to store funds while saving up for a big purchase or if you aren't sure how to use your extra cash yet. The APYs for some banks can get high, which is good for you, but other banks do not offer interest-bearing accounts at all.

You also have to be careful if a bank requires you to join a monthly subscription to receive interest payments. The subscription fee will minimize your interest payouts, and it isn't always worth the effort.

Customer support

No matter which bank you select, you will probably have questions along the way. A good customer support team that is available 24/7 can assist when problems emerge unexpectedly. Checking online reviews can help you gauge the quality of a bank's customer support. Don't take the company at its word that it has a great customer service team.

Rewards

Rewards should also play a big role in your decision-making process when choosing a bank. Some banks offer more than 1% cashback on every purchase. Those rewards can add up over time, especially if you make big investments into your freelance business.

Business checking accounts without reward programs aren't as favorable since you won't earn as much. Business banks without rewards need top-tier tools and features that make up for the money you lose by not receiving at least 1% cashback on your business purchases. Some accounts don't have rewards programs or interest-bearing accounts, which makes them less enticing.

Cash deposits

Freelancers should also consider how often they need to make transactions and if they need to deposit cash into their business accounts. Some business checking accounts do not accept cash deposits and have complex workarounds for those, which may make them not worth the effort. Many banks offer unlimited transactions, but some of them charge a small fee per transaction if you exceed a threshold.

FAQs

Bottom line

Comparing business accounts for freelancers will help you find the right choice for your business. While earning interest is helpful, some online banks that have 0% APY accounts offer notable perks that help out in other areas.

Those extra perks and discounts will have to be meaningful to compensate for the lack of an interest-bearing account. However, there's more to a business checking account than collecting interest. Invoicing, tax tools, and cashback rewards are some of the notable factors to consider when comparing checking accounts for your business.

2025 award winner Best Business Credit Card for Solopreneurs

Ink Business Cash^® Credit Card

Benefits

Card Details

• Solid rewards on office supply, telecom spending, gas, and dining
• Generous welcome offer
• Intro APR on purchases
• $0 annual fee
• Valuable purchase and travel protections
• Apply Now

• Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening
• Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
• Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
• With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
• No Annual Fee
• Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
• 0% introductory APR for 12 months on purchases
• Member FDIC

4.8

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

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Rates and fees

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Intro Offer

Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening

Annual Fee

$0

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Why we like it

• If you’re a freelancer, independent contractor, or small business owner in need of a business credit card that offers valuable rewards, consider the Ink Business Cash^® Credit Card. It has no annual fee, a valuable welcome offer for new cardmembers, and rewards for common business purchases.

• You don’t even need an Employer Identification Number (EIN) to apply; sole proprietors and people who run side hustles can take advantage of this card’s benefits, too.

• With the Ink Business Cash card, you’ll earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. You’ll also earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.

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