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 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. The following accounts are great choices for self-employed workers with a variety of needs.
250+ small-business products reviewed and rated by our team of experts.
80+ years of combined experience covering small-business and personal finance.
60+ business bank accounts rated with our objective, comprehensive business bank account rubrics (Methodology).
NerdWallet's business banking content — including our ratings, reviews and recommendations — is produced by a team of writers and editors who specialize in small-business finances. Their journalism has appeared in The Associated Press, Washington Post, MarketWatch, Nasdaq, Entrepreneur, ABC News, MSN and other national and local media outlets. Each writer and editor follows NerdWallet's strict editorial guidelines to ensure fairness and accuracy in our coverage.
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Best Bank Accounts for Freelancers, Self-Employed
Best Bank Accounts for Freelancers, Self-Employed
Sort By
Best overall online business checking account
APY
1.50%
With $0 min. balance for APY
Monthly fee
$0
Bonus
$300
Requirements to qualify
Learn more
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
Learn more
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
Learn more
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
Learn more
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
$300
Requirements to qualify
Learn more
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
$300
Requirements to qualify
Learn more
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
Learn more
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
Learn more
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
Learn more
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
Learn more
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
Learn more
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
Learn more
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.
APY
N/A
Monthly fee
$0
Bonus
N/A
Learn more
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.
nbkc Business Account
Best for Cash deposits and withdrawals
APY
N/A
Monthly fee
$0
Bonus
N/A
Learn more
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.
APY
3.80%
With $0.01 min. balance for APY
Monthly fee
$0
Bonus
$375
Requirements to qualify
Learn more
at Axos Bank®, Member FDIC
Pros
- Industry-leading APY.
- No minimum balance to earn interest.
- Access to Insured Cash Sweep network for expanded FDIC insurance.
Cons
- Fee for excess transactions.
- No ATM or debit card access.
Business Premium Savings Account
Best for Business savings account
APY
3.80%
With $0.01 min. balance for APY
Monthly fee
$0
Bonus
$375
Requirements to qualify
Learn more
at Axos Bank®, Member FDIC
Pros
- Industry-leading APY.
- No minimum balance to earn interest.
- Access to Insured Cash Sweep network for expanded FDIC insurance.
Cons
- Fee for excess transactions.
- No ATM or debit card access.
APY
3.00%
With $0 min. balance for APY
Monthly fee
$0
Bonus
N/A
Pros
- Account holders can set money aside for specific purposes and earn 3% APY on it.
- Built-in invoicing.
- Built-in payment processing, which means same-day availability for some funds.
Cons
- Only four free ATM withdrawals per month; $3 per withdrawal after that.
- Does not offer jointly owned accounts.
- Only one debit card per account.
QuickBooks Money
Best for Saving for short-term goals
APY
3.00%
With $0 min. balance for APY
Monthly fee
$0
Bonus
N/A
Pros
- Account holders can set money aside for specific purposes and earn 3% APY on it.
- Built-in invoicing.
- Built-in payment processing, which means same-day availability for some funds.
Cons
- Only four free ATM withdrawals per month; $3 per withdrawal after that.
- Does not offer jointly owned accounts.
- Only one debit card per account.
APY
N/A
Monthly fee
$0
Bonus
N/A
Learn more
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.
Lili Basic Business Checking
Best for Early access to payments
APY
N/A
Monthly fee
$0
Bonus
N/A
Learn more
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
Learn more
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
Learn more
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.
Do self-employed workers need a business bank account?
Technically, no. A business bank account isn’t required if you're self-employed.
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.
💬 From our Nerds: What I wish I knew when I was a freelancer
"I had some freelance clients before I joined NerdWallet, though I didn't have a business checking account. I used several different tools to send invoices and take payments. Then, I kept a spreadsheet to track how much I'd earned and how much I owed in quarterly tax payments.
"If I were in the same position today, I'd look for a business bank account with built-in invoicing and tax planning tools. Using one tool just feels so much simpler than using two or more — especially when I had to build one of them myself."
— Rosalie Murphy, lead writer covering small business
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 (also called an EIN) or Social Security number.
Other business entities, like single-member LLCs, will require additional information. If you wanted to open a business bank account for an LLC, for instance, you’ll likely need to supply your operating agreement.
Learn more with our complete guide to what you need to open a business bank account.
Note on
American Express® Business Checking
: At Allpoint® and MoneyPass® locations in the U.S., you can withdraw cash and get balance information with no fee. Access to ATMs outside of the Allpoint® and MoneyPass® networks are subject to fees by the ATM owner and/or network. ATM withdrawal limits apply. American Express applies foreign exchange fees to withdrawals in foreign currencies. American Express does not accept ATM cash deposits into your Business Checking account at this time. Visit americanexpress.com/atm-locator to find participating ATMs in the U.S.Last updated on May 1, 2025
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, 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.
