Best Bank Accounts for Freelancers, Self-Employed of July 2025
The best bank accounts for freelancers and self-employed workers are free and easy to access online. Opening one is an important part of separating your business and personal finances.
Learn more The best bank accounts for freelancers and the self-employed are easy to open, easy to access online and charge minimal fees. A dedicated business checking account
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Best Bank Accounts for Freelancers, Self-Employed
| Bank/institution | Best for | NerdWallet rating | Monthly fee | APY | Bonus | Learn more |
|---|---|---|---|---|---|---|
 Bluevine Business Checking at Bluevine, Deposits are FDIC Insured | Online banking | $0 | 1.50% With $0 min. balance for APY | $300 Requirements to qualify | at Bluevine, Deposits are FDIC Insured | |
| Pros
Cons
| ||||||
 American Express® Business Checking at American Express National Bank, Member FDIC | 24/7 customer support | $0 | 1.30% With $0 min. balance for APY | $30,000 Requirements to qualify | at American Express National Bank, Member FDIC | |
| Pros
Cons
| ||||||
 Grasshopper Innovator Business Checking Account at Grasshopper Bank, Member FDIC | 1% cash back on debit card purchases | $0 | 1.80% With $25,000 min. balance for APY | N/A | at Grasshopper Bank, Member FDIC | |
| Pros
Cons
| ||||||
 Found Small Business Banking at Found, Deposits are FDIC Insured | Tax planning, bookkeeping and invoicing tools | $0 | N/A | $125 Requirements to qualify | at Found, Deposits are FDIC Insured | |
| Pros
Cons
| ||||||
 Chase Business Complete Banking® at Chase, Member FDIC | Accepting in-person payments | $15.00 Waived with $2,000 minimum balance | N/A | $500 Requirements to qualify | at Chase, Member FDIC | |
| Pros
Cons
| ||||||
 Relay Business Checking at Relay, Deposits are FDIC Insured | Low fees on wire transfers | $0 | N/A | $300 Requirements to qualify | at Relay, Deposits are FDIC Insured | |
| Pros
Cons
| ||||||
 nbkc Business Account at nbkc bank, Member FDIC | Cash deposits and withdrawals | $0 | N/A | N/A | at nbkc bank, Member FDIC | |
| Pros
Cons
| ||||||
 Lili Basic Business Checking at Lili, Deposits are FDIC Insured | Gig workers | $0 | N/A | N/A | at Lili, Deposits are FDIC Insured | |
| Pros
Cons
| ||||||
 First Internet Bank Do More Business™ Checking at First Internet Bank, Member FDIC | Automatic transfers to savings | $0 | 0.50% With $10,000 min. balance for APY | N/A | at First Internet Bank, Member FDIC | |
| Pros
Cons
| ||||||
 North One Standard Business Checking at North One, Deposits are FDIC Insured | High APY | $0 | 2.50% With $0 min. balance for APY | N/A | at North One, Deposits are FDIC Insured | |
| Pros
Cons
| ||||||
Best Bank Accounts for Freelancers, Self-Employed
Best overall online business checking account
APY
1.50%
With $0 min. balance for APY
Monthly fee
$0
Bonus
$300
Requirements to qualify
at Bluevine, Deposits are FDIC Insured
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Earn 1.50% interest on account balances up to and including $250,000. Terms apply.
- Access up to $3 million in FDIC insurance with Insured Cash Sweep.
- No fees at MoneyPass ATMs.
- Account holders are assigned to a dedicated banker or customer support representative.
Cons
- No fee-free cash deposits.
- Fee for using out-of-network ATMs.
- Does not offer jointly-owned accounts.
Best overall online business checking account
Bluevine Business Checking
Best for Online banking
APY
1.50%
With $0 min. balance for APY
Monthly fee
$0
Bonus
$300
Requirements to qualify
at Bluevine, Deposits are FDIC Insured
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Earn 1.50% interest on account balances up to and including $250,000. Terms apply.
- Access up to $3 million in FDIC insurance with Insured Cash Sweep.
- No fees at MoneyPass ATMs.
- Account holders are assigned to a dedicated banker or customer support representative.
Cons
- No fee-free cash deposits.
- Fee for using out-of-network ATMs.
- Does not offer jointly-owned accounts.
APY
1.30%
With $0 min. balance for APY
Monthly fee
$0
Bonus
30,000 points
Requirements to qualify
at American Express National Bank, Member FDIC
Pros
- No monthly fees or minimum opening deposit.
- No excess transaction fees and no charge for domestic incoming wires.
- Earn 1.30% APY on balances up to $500,000.
- 24/7 customer support.
- No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
- Can’t deposit cash.
- No outgoing international wire transfers.
- Does not offer jointly owned accounts.
American Express® Business Checking
Best for 24/7 customer support
APY
1.30%
With $0 min. balance for APY
Monthly fee
$0
Bonus
30,000 points
Requirements to qualify
at American Express National Bank, Member FDIC
Pros
- No monthly fees or minimum opening deposit.
- No excess transaction fees and no charge for domestic incoming wires.
- Earn 1.30% APY on balances up to $500,000.
- 24/7 customer support.
- No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
- Can’t deposit cash.
- No outgoing international wire transfers.
- Does not offer jointly owned accounts.
APY
1.80%
With $25,000 min. balance for APY
Monthly fee
$0
Bonus
N/A
at Grasshopper Bank, Member FDIC
Pros
- Unlimited 1% cash back on qualified debit card purchases.
- Earn up to 1.80% APY.
- No monthly fees, transaction fees or overdraft charges.
- Free, built-in bookkeeping and invoicing software.
- Free incoming domestic wires; low fees on other wire transfers.
Cons
- Can’t deposit cash.
- $100 minimum opening deposit.
- No weekend support.
Grasshopper Innovator Business Checking Account
Best for 1% cash back on debit card purchases
APY
1.80%
With $25,000 min. balance for APY
Monthly fee
$0
Bonus
N/A
at Grasshopper Bank, Member FDIC
Pros
- Unlimited 1% cash back on qualified debit card purchases.
- Earn up to 1.80% APY.
- No monthly fees, transaction fees or overdraft charges.
- Free, built-in bookkeeping and invoicing software.
- Free incoming domestic wires; low fees on other wire transfers.
Cons
- Can’t deposit cash.
- $100 minimum opening deposit.
- No weekend support.
APY
N/A
Monthly fee
$0
Bonus
$125
Requirements to qualify
at Found, Deposits are FDIC Insured
Pros
- No required monthly fee or minimum opening deposit.
- No excess transaction fees or overdraft fees; free incoming domestic wires.
- Free, built-in invoicing, bookkeeping and tax-planning features.
- Integrates with popular business and gig work apps, including Stripe, DoorDash, Uber, Etsy and PayPal.
- Account holders are assigned to a dedicated banker or customer support representative.
- Built-in payroll features for contractors.
Cons
- No weekend or after-hours phone support.
- Not available to partnerships or nonprofit organizations.
- No fee-free cash deposits.
Found Small Business Banking
Best for Tax planning, bookkeeping and invoicing tools
APY
N/A
Monthly fee
$0
Bonus
$125
Requirements to qualify
at Found, Deposits are FDIC Insured
Pros
- No required monthly fee or minimum opening deposit.
- No excess transaction fees or overdraft fees; free incoming domestic wires.
- Free, built-in invoicing, bookkeeping and tax-planning features.
- Integrates with popular business and gig work apps, including Stripe, DoorDash, Uber, Etsy and PayPal.
- Account holders are assigned to a dedicated banker or customer support representative.
- Built-in payroll features for contractors.
Cons
- No weekend or after-hours phone support.
- Not available to partnerships or nonprofit organizations.
- No fee-free cash deposits.
APY
N/A
Monthly fee
$15.00
Waived with $2,000 minimum balance
Bonus
$500
Requirements to qualify
at Chase, Member FDIC
Pros
- No minimum opening deposit.
- Unlimited fee-free electronic and debit card transactions.
- Integrated credit card processing.
- No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.
- 24/7 customer support.
- No fees at 16,000 Chase ATMs and access to around 4,700 branches.
- Supports Zelle for Business.
Cons
- $15 monthly fee.
- Monthly limit on fee-free cash deposits ($5,000) and physical transactions (20).
- Fee for using out-of-network ATMs.
Chase Business Complete Banking®
Best for Accepting in-person payments
APY
N/A
Monthly fee
$15.00
Waived with $2,000 minimum balance
Bonus
$500
Requirements to qualify
at Chase, Member FDIC
Pros
- No minimum opening deposit.
- Unlimited fee-free electronic and debit card transactions.
- Integrated credit card processing.
- No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.
- 24/7 customer support.
- No fees at 16,000 Chase ATMs and access to around 4,700 branches.
- Supports Zelle for Business.
Cons
- $15 monthly fee.
- Monthly limit on fee-free cash deposits ($5,000) and physical transactions (20).
- Fee for using out-of-network ATMs.
APY
N/A
Monthly fee
$0
Bonus
$300
Requirements to qualify
at Relay, Deposits are FDIC Insured
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Cash deposits via compatible Allpoint ATMs.
- No foreign transaction fees when you use your Relay Visa® Debit abroad.
- Free incoming wires and low outgoing wire transfer fees.
- Up to 50 debit cards.
- Account holders are assigned to a dedicated banker or customer support representative.
- Direct integration with Shopify.
Cons
- Deposited checks are held for up to 6-7 business days.
- No bill pay feature in the free plan.
Relay Business Checking
Best for Low fees on wire transfers
APY
N/A
Monthly fee
$0
Bonus
$300
Requirements to qualify
at Relay, Deposits are FDIC Insured
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Cash deposits via compatible Allpoint ATMs.
- No foreign transaction fees when you use your Relay Visa® Debit abroad.
- Free incoming wires and low outgoing wire transfer fees.
- Up to 50 debit cards.
- Account holders are assigned to a dedicated banker or customer support representative.
- Direct integration with Shopify.
Cons
- Deposited checks are held for up to 6-7 business days.
- No bill pay feature in the free plan.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
- Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
- Unlimited cash deposits via MoneyPass and Allpoint ATMs.
- Accept contactless payments via the NBKC app (iOS only). Fees apply.
- Unlimited debit cards.
Cons
- High fee ($45) for international wire transfers.
- Phone support only available during business hours.
- No third-party app integrations.
nbkc Business Account
Best for Cash deposits and withdrawals
APY
N/A
Monthly fee
$0
Bonus
N/A
at nbkc bank, Member FDIC
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
- Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
- Unlimited cash deposits via MoneyPass and Allpoint ATMs.
- Accept contactless payments via the NBKC app (iOS only). Fees apply.
- Unlimited debit cards.
Cons
- High fee ($45) for international wire transfers.
- Phone support only available during business hours.
- No third-party app integrations.
Pros
- No monthly fees, transaction fees or incoming wire fees.
- No fees at MoneyPass ATMs.
- Cash deposits via Green Dot network (fees and limits apply).
- Early payment feature allows you to receive funds up to two days sooner than with a traditional bank account.
- Direct integrations with Square, Shopify, Etsy and eBay.
Cons
- Fee for using out-of-network ATMs.
- No fee-free cash deposits.
- Low monthly limits for cash deposits, incoming ACH transfers.
- Bill pay not included; must upgrade to Lili Smart or higher.
- Not available to nonprofit organizations.
- No spend controls on employee debit cards.
Lili Basic Business Checking
Best for Gig workers
APY
N/A
Monthly fee
$0
Bonus
N/A
at Lili, Deposits are FDIC Insured
Pros
- No monthly fees, transaction fees or incoming wire fees.
- No fees at MoneyPass ATMs.
- Cash deposits via Green Dot network (fees and limits apply).
- Early payment feature allows you to receive funds up to two days sooner than with a traditional bank account.
- Direct integrations with Square, Shopify, Etsy and eBay.
Cons
- Fee for using out-of-network ATMs.
- No fee-free cash deposits.
- Low monthly limits for cash deposits, incoming ACH transfers.
- Bill pay not included; must upgrade to Lili Smart or higher.
- Not available to nonprofit organizations.
- No spend controls on employee debit cards.
APY
0.50%
With $10,000 min. balance for APY
Monthly fee
$0
Bonus
N/A
at First Internet Bank, Member FDIC
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Up to $10 in monthly refunds for ATM fees charged by other banks.
- APY of 0.50% with an average daily balance of $10,000 or more.
Cons
- No cash deposits.
- $15 fee for incoming wires.
First Internet Bank Do More Business™ Checking
Best for Automatic transfers to savings
APY
0.50%
With $10,000 min. balance for APY
Monthly fee
$0
Bonus
N/A
at First Internet Bank, Member FDIC
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Up to $10 in monthly refunds for ATM fees charged by other banks.
- APY of 0.50% with an average daily balance of $10,000 or more.
Cons
- No cash deposits.
- $15 fee for incoming wires.
APY
2.50%
With $0 min. balance for APY
Monthly fee
$0
Bonus
N/A
at North One, Deposits are FDIC Insured
Pros
- No monthly fees or excess transaction fees.
- Same-day deposits from Amazon, Cash App, Square, Stripe and Venmo. Direct payments supported from a variety of other business platforms, including Etsy, Lyft, Shopify and Airbnb.
- Sub-accounts that you can use to save for specific goals.
- Direct integration with Shopify, Etsy and Amazon.
- Account holders are assigned to a dedicated banker or customer support representative.
Cons
- Low cash deposit limits ($1,500 per day, $5,000 per month). Service fee of up to $4.95 per deposit.
- No free ATM network, though North One will reimburse up to two ATM fees per month by request. ATM withdrawals limited to $2,000 per day.
- Can’t send or receive international wires.
- No weekend customer support.
- Not available to nonprofit organizations.
- No spend controls on employee debit cards.
North One Standard Business Checking
Best for High APY
APY
2.50%
With $0 min. balance for APY
Monthly fee
$0
Bonus
N/A
at North One, Deposits are FDIC Insured
Pros
- No monthly fees or excess transaction fees.
- Same-day deposits from Amazon, Cash App, Square, Stripe and Venmo. Direct payments supported from a variety of other business platforms, including Etsy, Lyft, Shopify and Airbnb.
- Sub-accounts that you can use to save for specific goals.
- Direct integration with Shopify, Etsy and Amazon.
- Account holders are assigned to a dedicated banker or customer support representative.
Cons
- Low cash deposit limits ($1,500 per day, $5,000 per month). Service fee of up to $4.95 per deposit.
- No free ATM network, though North One will reimburse up to two ATM fees per month by request. ATM withdrawals limited to $2,000 per day.
- Can’t send or receive international wires.
- No weekend customer support.
- Not available to nonprofit organizations.
- No spend controls on employee debit cards.
Do self-employed workers need a business bank account?
Technically, no. A business bank account
But opening one is a good idea for the following reasons:
- Not all personal accounts can be used for businesses activity. Some financial institutions specify in their depositor agreement that personal accounts can't be used for business purposes. Business accounts, on the other hand, are designed specifically for business use.
- Managing self-employment taxes can be easier. If you make more than $400 in a year from freelancing, you’ll owe self-employment taxes. The tax rate for those earnings is 15.3%. Keeping your business earnings in a separate account can make it easier to set aside funds for those taxes in advance so that you’re not surprised by a bill at tax time. Some accounts, including Found, will automatically set aside tax payments for you.
- Business bank accounts offer helpful tools. Freelancer business accounts may come with features like invoicing, payment processing and expense tracking, which can make it easier to run your business. Others may integrate directly with payment, e-commerce and gig work apps, helping you access the money you’ve earned sooner.
- Separating your business finances sets you up for the future. If you decide to expand your business in the future, your business bank account will have a record of your revenue and expense history — which can be helpful when applying for a
small-business loan
Takeaways from my time freelancing
I had some freelance clients before I joined NerdWallet, but I didn't have a business checking account
My system was way more complicated. I used a payment processor
If I were in the same position today, I'd simplify this dramatically by using a business bank account with built-in invoicing and tax planning tools.
— Rosalie Murphy
What documents do freelancers need to open a business bank account?
The exact documents required will vary by bank and your business type. If you're a sole proprietor, you'll likely need to provide at least the following documents:
- A government-issued photo ID.
- Business license.
Business tax ID
Other business entities, like single-member LLCs, will require additional information. If you wanted to open a business bank account for an LLC
Learn more with our complete guide to what you need to open a business bank account
Notes from NerdWallet partners
Methodology
NerdWallet evaluates more than 50 business bank accounts from national, regional and online banks. Collectively, these accounts represent the largest banks by assets and the largest credit unions by membership, along with notable and emerging fintech companies and online banks.
We consider more than 20 data points for each account, including services, fees, features and rewards. We gather this information from rates and fees documents, deposit account agreements, financial institution websites and company representatives.
Our editorial team regularly reviews and updates our data to ensure consistency and accuracy. We also update our scoring on an ongoing basis to reflect changing industry norms and business owner needs. For instance, in 2025, we introduced bonus points for notable built-in software features, like the ability to accept tap-to-pay payments from customers using a mobile app.
Final star ratings are presented on a scale of one to five stars, where a five-star score represents the best available product for the largest number of business owners. Learn more about how we rate business checking accounts