9 Best Business Bank Accounts for Freelancers, Self-Employed of April 2023
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The best business checking accounts for freelancers and the self-employed are easy to open, easy to access and charge minimal fees. They should also make it easier to run your business, with tools and integrations that streamline bookkeeping and help you plan for self-employment taxes.
A dedicated business checking account also helps formally separate your business finances from your personal affairs — a smart move whether you run your own brick-and-mortar business or pick up tasks and gigs as a side hustle.
NerdWallet evaluated more than 30 business checking accounts from national, regional and online banks, scoring them on fees, perks and accessibility, among other factors. Business accounts that earned at least four stars were eligible to be included in this list. Here are our picks for the best business checking accounts for freelancers and the self-employed.
The best business checking accounts for freelancers and the self-employed are easy to open, easy to access and charge minimal fees. They should also make it easier to run your business, with tools and integrations that streamline bookkeeping and help you plan for self-employment taxes.
A dedicated business checking account also helps formally separate your business finances from your personal affairs — a smart move whether you run your own brick-and-mortar business or pick up tasks and gigs as a side hustle.
NerdWallet evaluated more than 30 business checking accounts from national, regional and online banks, scoring them on fees, perks and accessibility, among other factors. Business accounts that earned at least four stars were eligible to be included in this list. Here are our picks for the best business checking accounts for freelancers and the self-employed.
Best Business Bank Accounts for Freelancers, Self-Employed
Bank/institution | NerdWallet rating | Monthly fee | APY | Min. opening deposit | Learn more |
---|---|---|---|---|---|
![]() Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | $0 | 2.00% With $0 min. balance for APY | $0 | Learn more at Bluevine, Deposits are FDIC Insured | |
![]() Lili Business Checking Learn more at Lili, Deposits are FDIC Insured | $0 | N/A | $0 | Learn more at Lili, Deposits are FDIC Insured | |
![]() Grasshopper Business Checking Account Learn more at Grasshopper Bank, Member FDIC | $0 | 1.51% With $0 min. balance for APY | $100 | Learn more at Grasshopper Bank, Member FDIC | |
![]() Chase Business Complete Banking℠ Learn more at Chase, Member FDIC | $15.00 Waived with $2,000 minimum balance | N/A | $0 | Learn more at Chase, Member FDIC | |
![]() nbkc Business Account Learn more at nbkc bank, Member FDIC | $0 | N/A | $0 | Learn more at nbkc bank, Member FDIC | |
![]() Found Small Business Banking Learn more at Found | $0 | N/A | $0 | Learn more at Found | |
![]() Bank of America Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | $16.00 Waived with $5,000 minimum balance | N/A | $100 | Learn more at Bank of America, N.A., Member FDIC | |
![]() Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | $0 | N/A | $0 | Learn more at Axos Bank®, Member FDIC | |
![]() LendingClub Tailored Checking | $10.00 Waived with $500 minimum balance | 1.50% With $0 min. balance for APY | $100 | Read review |

at Bluevine, Deposits are FDIC Insured
Bluevine Business Checking

Monthly fee
$0APY
2.00%With $0 min. balance for APY
Min. opening deposit
$0at Bluevine, Deposits are FDIC Insured

at Lili, Deposits are FDIC Insured
Lili Business Checking

Monthly fee
$0APY
N/AMin. opening deposit
$0at Lili, Deposits are FDIC Insured

at Grasshopper Bank, Member FDIC
Grasshopper Business Checking Account

Monthly fee
$0APY
1.51%With $0 min. balance for APY
Min. opening deposit
$100at Grasshopper Bank, Member FDIC

at Chase, Member FDIC
Chase Business Complete Banking℠

Monthly fee
$15.00Waived with $2,000 minimum balance
APY
N/AMin. opening deposit
$0at Chase, Member FDIC

at nbkc bank, Member FDIC
nbkc Business Account

Monthly fee
$0APY
N/AMin. opening deposit
$0at nbkc bank, Member FDIC

at Found
Found Small Business Banking

Monthly fee
$0APY
N/AMin. opening deposit
$0at Found

at Bank of America, N.A., Member FDIC
Bank of America Business Advantage Fundamentals™ Banking

Monthly fee
$16.00Waived with $5,000 minimum balance
APY
N/AMin. opening deposit
$100at Bank of America, N.A., Member FDIC

at Axos Bank®, Member FDIC
Axos Bank® Basic Business Checking

Monthly fee
$0APY
N/AMin. opening deposit
$0at Axos Bank®, Member FDIC
LendingClub Tailored Checking

Monthly fee
$10.00Waived with $500 minimum balance
APY
1.50%With $0 min. balance for APY
Min. opening deposit
$100Compare more business banking options
Want to explore more banks for small businesses? Use NerdWallet's tool to search for and compare business checking accounts based on the features that are important to you, whether that's unlimited transactions, free ATM access, no monthly fee or a low minimum opening deposit.
Last updated on March 10, 2023
Methodology
NerdWallet evaluates more than 30 business bank accounts from national, regional and online banks. Collectively, these accounts represent the largest banks by assets, internet search traffic and other factors, along with notable or emerging players in the industry.
We consider more than 20 data points for each account, scoring them on fees, perks and accessibility, among other factors. This information is gathered from each financial institution's website and company representatives. In addition, data is collected regularly and reviewed by our editorial team for consistency and accuracy.
Final star ratings are presented on a scale of one to five stars, where a one-star score represents "poor" and a five-star score represents "excellent." Learn more about how we rate business checking accounts.
To recap our selections...
NerdWallet's Summary of Best Business Bank Accounts for Freelancers, Self-Employed of April 2023
Frequently asked questions
Technically, no. A business bank account isn’t required for those who are self-employed. But mingling your personal and business expenses can get messy, especially when it comes to filing your taxes. A business bank account can also prove helpful when applying for a business credit card or small-business loan.
The exact documents required will vary by bank and your business type. If you’re an LLC, for example, you’ll likely need to supply your operating agreement. The following documents may also be required to open a business bank account:
A government-issued photo ID. Business license. Business tax ID (also called an EIN) or Social Security number.
Learn more with our guide to how to open a business bank account.
Unlike personal accounts, business bank accounts may limit how much cash you can deposit or the number of transactions you can make in a month. But many business accounts also come with features like invoicing, payment processing and other tools, which can make it easier to run your business.