Best Bank Accounts for Freelancers, Self-Employed of September 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.
Senior writer | Small business banking and credit cards, Paycheck Protection Program, consumer spending, and household finances
Kelsey Sheehy is a NerdWallet authority on small business. Her work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the <a href="https://www.today.com/video/christmas-in-july-sales-to-take-advantage-of-now-64075333536">"Today"</a> show, <a href="https://www.nbcnews.com/nightly-news/video/tax-code-changes-leave-many-americans-with-unhappy-returns-1440385091860">NBC News</a> and <a href="https://abcnews.go.com/WNT/video/cost-smartphones-reaching-time-high-54166111">"ABC World News Tonight"</a> and has been quoted by the Los Angeles Times, CNBC and American Banker, among other publications. Email: <a href="mailto:ksheehy@nerdwallet.com">ksheehy@nerdwallet.com</a>.
Senior writer | Small business banking and credit cards, Paycheck Protection Program, consumer spending, and household finances
Kelsey Sheehy is a NerdWallet authority on small business. Her work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the <a href="https://www.today.com/video/christmas-in-july-sales-to-take-advantage-of-now-64075333536">"Today"</a> show, <a href="https://www.nbcnews.com/nightly-news/video/tax-code-changes-leave-many-americans-with-unhappy-returns-1440385091860">NBC News</a> and <a href="https://abcnews.go.com/WNT/video/cost-smartphones-reaching-time-high-54166111">"ABC World News Tonight"</a> and has been quoted by the Los Angeles Times, CNBC and American Banker, among other publications. Email: <a href="mailto:ksheehy@nerdwallet.com">ksheehy@nerdwallet.com</a>.
Ryan Lane is an editor on the small-business team and a NerdWallet authority on student loans. He spent more than a decade as a writer and editor for student loan guarantor American Student Assistance and was a managing editor for publisher Cell Press. Ryan’s work has been featured by The Associated Press, USA Today and MarketWatch, and he previously co-authored the U.S. News & World Report Student Loan Ranger blog. Email: <a href="mailto:rlane@nerdwallet.com”">rlane@nerdwallet.com</a>.
Ryan Lane is an editor on the small-business team and a NerdWallet authority on student loans. He spent more than a decade as a writer and editor for student loan guarantor American Student Assistance and was a managing editor for publisher Cell Press. Ryan’s work has been featured by The Associated Press, USA Today and MarketWatch, and he previously co-authored the U.S. News & World Report Student Loan Ranger blog. Email: <a href="mailto:rlane@nerdwallet.com”">rlane@nerdwallet.com</a>.
NerdWallet's content is
fact-checked for accuracy, timeliness, and relevance by humans.
It undergoes a thorough review process involving writers and editors to ensure
the information is as clear and complete as possible. Learn more by checking
our
Editorial Guidelines.
Content was accurate at the time of publication.
Why trust NerdWallet
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.
Advertiser disclosure
You’re our first priority.
Every time.
We believe everyone should be able to make financial decisions with
confidence. And while our site doesn’t feature every company or
financial product available on the market, we’re proud that the guidance
we offer, the information we provide and the tools we create are
objective, independent, straightforward — and free.
So how do we make money? Our partners compensate us. This may influence
which products we review and write about (and where those products
appear on the site), but it in no way affects our recommendations or
advice, which are grounded in thousands of hours of research. Our
partners cannot pay us to guarantee favorable reviews of their products
or services. Here is a list of our partners .
Senior writer | Small business banking and credit cards, Paycheck Protection Program, consumer spending, and household finances
Kelsey Sheehy is a NerdWallet authority on small business. Her work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the <a href="https://www.today.com/video/christmas-in-july-sales-to-take-advantage-of-now-64075333536">"Today"</a> show, <a href="https://www.nbcnews.com/nightly-news/video/tax-code-changes-leave-many-americans-with-unhappy-returns-1440385091860">NBC News</a> and <a href="https://abcnews.go.com/WNT/video/cost-smartphones-reaching-time-high-54166111">"ABC World News Tonight"</a> and has been quoted by the Los Angeles Times, CNBC and American Banker, among other publications. Email: <a href="mailto:ksheehy@nerdwallet.com">ksheehy@nerdwallet.com</a>.
Senior writer | Small business banking and credit cards, Paycheck Protection Program, consumer spending, and household finances
Kelsey Sheehy is a NerdWallet authority on small business. Her work has appeared in The New York Times, The Washington Post, Nasdaq and MarketWatch, among other publications. Kelsey has appeared on the <a href="https://www.today.com/video/christmas-in-july-sales-to-take-advantage-of-now-64075333536">"Today"</a> show, <a href="https://www.nbcnews.com/nightly-news/video/tax-code-changes-leave-many-americans-with-unhappy-returns-1440385091860">NBC News</a> and <a href="https://abcnews.go.com/WNT/video/cost-smartphones-reaching-time-high-54166111">"ABC World News Tonight"</a> and has been quoted by the Los Angeles Times, CNBC and American Banker, among other publications. Email: <a href="mailto:ksheehy@nerdwallet.com">ksheehy@nerdwallet.com</a>.
Ryan Lane is an editor on the small-business team and a NerdWallet authority on student loans. He spent more than a decade as a writer and editor for student loan guarantor American Student Assistance and was a managing editor for publisher Cell Press. Ryan’s work has been featured by The Associated Press, USA Today and MarketWatch, and he previously co-authored the U.S. News & World Report Student Loan Ranger blog. Email: <a href="mailto:rlane@nerdwallet.com”">rlane@nerdwallet.com</a>.
Ryan Lane is an editor on the small-business team and a NerdWallet authority on student loans. He spent more than a decade as a writer and editor for student loan guarantor American Student Assistance and was a managing editor for publisher Cell Press. Ryan’s work has been featured by The Associated Press, USA Today and MarketWatch, and he previously co-authored the U.S. News & World Report Student Loan Ranger blog. Email: <a href="mailto:rlane@nerdwallet.com”">rlane@nerdwallet.com</a>.
NerdWallet's content is
fact-checked for accuracy, timeliness, and relevance by humans.
It undergoes a thorough review process involving writers and editors to ensure
the information is as clear and complete as possible. Learn more by checking
our
Editorial Guidelines.
Content was accurate at the time of publication.
Why trust NerdWallet
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.
Advertiser disclosure
You’re our first priority.
Every time.
We believe everyone should be able to make financial decisions with
confidence. And while our site doesn’t feature every company or
financial product available on the market, we’re proud that the guidance
we offer, the information we provide and the tools we create are
objective, independent, straightforward — and free.
So how do we make money? Our partners compensate us. This may influence
which products we review and write about (and where those products
appear on the site), but it in no way affects our recommendations or
advice, which are grounded in thousands of hours of research. Our
partners cannot pay us to guarantee favorable reviews of their products
or services. Here is a list of our partners .
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.
Bill pay tools and invoicing with built-in payment links.
Cons
No fee-free cash deposits.
Fee for using out-of-network ATMs.
Does not offer jointly-owned accounts.
This free business checking account offers a very competitive APY: Earn 1.50% interest on account balances up to and including $250,000. Terms apply. There are no transaction limits or overdraft fees, and you get fee-free access to nearly 40,000 MoneyPass ATMs.
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.
Bill pay tools and invoicing with built-in payment links.
Cons
No fee-free cash deposits.
Fee for using out-of-network ATMs.
Does not offer jointly-owned accounts.
This free business checking account offers a very competitive APY: Earn 1.50% interest on account balances up to and including $250,000. Terms apply. There are no transaction limits or overdraft fees, and you get fee-free access to nearly 40,000 MoneyPass ATMs.
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 offers pretty much everything an online bank should — no minimum opening deposit or monthly fee, 24/7 customer support and a solid APY. You can't deposit cash, but you can withdraw it with no fees at more than 70,000 Allpoint and MoneyPass ATMs.
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 offers pretty much everything an online bank should — no minimum opening deposit or monthly fee, 24/7 customer support and a solid APY. You can't deposit cash, but you can withdraw it with no fees at more than 70,000 Allpoint and MoneyPass ATMs.
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 bank’s free account pays you two ways: You can earn unlimited 1% cash back on qualified purchases and up to 1.80% APY on the balance in your account. You also get free, built-in access to Autobooks, as well as business tools like invoicing and cash management.
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 bank’s free account pays you two ways: You can earn unlimited 1% cash back on qualified purchases and up to 1.80% APY on the balance in your account. You also get free, built-in access to Autobooks, as well as business tools like invoicing and cash management.
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 business checking is a great starter kit for freelancers looking to level up a side hustle. The free online business account offers built-in bookkeeping, invoicing and tax-planning tools, plus direct integration with a variety of popular business apps, including Etsy, PayPal, Uber and more.
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 business checking is a great starter kit for freelancers looking to level up a side hustle. The free online business account offers built-in bookkeeping, invoicing and tax-planning tools, plus direct integration with a variety of popular business apps, including Etsy, PayPal, Uber and more.
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 15,400 Chase ATMs and access to around 4,900 branches.
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 checking offers access to the brick-and-mortar bank's traditional services, including branches, ATMs and cash deposits. You can also accept tap-to-pay transactions via card or digital wallet with Chase QuickAccept. This account does have a monthly fee, though it can be waived if you meet certain requirements.
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 15,400 Chase ATMs and access to around 4,900 branches.
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 checking offers access to the brick-and-mortar bank's traditional services, including branches, ATMs and cash deposits. You can also accept tap-to-pay transactions via card or digital wallet with Chase QuickAccept. This account does have a monthly fee, though it can be waived if you meet certain requirements.
No required monthly fee or minimum balance requirement.
Unlimited fee-free transactions; no overdraft fees.
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.
Direct integration with Shopify.
Cons
Deposited checks may be held for up to 6-7 business days.
No bill pay feature in the free plan.
Relay's online business checking account is a better fit for larger businesses than it is for freelancers, but its particularly low fees on domestic and international wire transfers might make it a good fit for certain solopreneurs.
No required monthly fee or minimum balance requirement.
Unlimited fee-free transactions; no overdraft fees.
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.
Direct integration with Shopify.
Cons
Deposited checks may be held for up to 6-7 business days.
No bill pay feature in the free plan.
Relay's online business checking account is a better fit for larger businesses than it is for freelancers, but its particularly low fees on domestic and international wire transfers might make it a good fit for certain solopreneurs.
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 offers a truly free business checking account, with no monthly fees, overdraft fees, stop payment fees or transaction fees. NBKC customers can receive up to $12 per month in third-party ATM fee refunds and make free cash deposits via certain MoneyPass and Allpoint ATMs. iPhone users can take credit, debit card and mobile wallet payments using the NBKC app (though you'll have to pay $10 per month for an Autobooks subscription to access that service).
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 offers a truly free business checking account, with no monthly fees, overdraft fees, stop payment fees or transaction fees. NBKC customers can receive up to $12 per month in third-party ATM fee refunds and make free cash deposits via certain MoneyPass and Allpoint ATMs. iPhone users can take credit, debit card and mobile wallet payments using the NBKC app (though you'll have to pay $10 per month for an Autobooks subscription to access that service).
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's business checking account comes with unlimited fee-free transactions, no minimum opening deposit and ATM withdrawals with $10/month in fee refunds (no cash deposits, though). The account is most valuable, though, if you want to apply earnings from your side hustle to a savings goal — you can automatically transfer all funds over a certain amount to the institution's excellent Business Money Market Savings account, where they'll earn 3.46% APY.
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's business checking account comes with unlimited fee-free transactions, no minimum opening deposit and ATM withdrawals with $10/month in fee refunds (no cash deposits, though). The account is most valuable, though, if you want to apply earnings from your side hustle to a savings goal — you can automatically transfer all funds over a certain amount to the institution's excellent Business Money Market Savings account, where they'll earn 3.46% APY.
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.
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 currently pays the highest APY of any business checking account we cover. Just make sure you spend at least $500 per month on your linked debit card to qualify. Plus, if you earn money from Stripe, Amazon, PayPal, Square, Venmo or Cash App, North One supports instant transfers so you can spend your earnings right away.
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.
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 currently pays the highest APY of any business checking account we cover. Just make sure you spend at least $500 per month on your linked debit card to qualify. Plus, if you earn money from Stripe, Amazon, PayPal, Square, Venmo or Cash App, North One supports instant transfers so you can spend your earnings right away.
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.
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 to send invoices and take payments. I deposited money into my personal savings account. Then, I kept a spreadsheet to track how much I'd earned and how much I owed in quarterly tax payments. After paying taxes, I transferred the remainder — my income — into my personal checking account.
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.
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.
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.
Found is a financial technology company, not a bank. Banking services are provided by Lead Bank, Member FDIC.
Relay is a financial technology company, not a bank. Banking services provided by Thread Bank, Member FDIC. The Relay Visa Debit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted.
Last updated on August 22, 2025
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.
Cash back on debit
Learn more