Best Business Bank Accounts for Sole Proprietors of October 2025

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Best overall online business checking account
Bluevine Business Checking
Best overall online business checking account

Bluevine Business Checking

Bluevine Business Checking

at Bluevine, Deposits are FDIC Insured

Because sole proprietorships are almost always a one-person show, their owners need a small-business bank that offers efficiency and affordability. Below are the best business checking accounts for sole proprietorships (plus a business savings account for your reserves).

Summary of the best business bank accounts for sole proprietors

  • American Express® Business Checking : Best for 24/7 customer support.
  • Bluevine Business Checking : Best overall account for sole proprietors.
  • Chase Business Complete Banking® : Best for brick-and-mortar banking.
  • Found Small Business Banking : Best for tax planning and invoicing tools.
  • Grasshopper Innovator Business Checking Account : Best for cash-back rewards on debit card spending.
  • Live Oak Bank Business Essential Checking : Best for establishing a relationship with a top SBA lender.
  • Axos Business Premium Savings Account : Best dedicated business savings account.
  • nbkc Business Account : Best for taking in-person payments.
  • U.S. Bank Business Essentials : Best sign-up bonus.
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.
Best overall online business checking account

Bluevine Business Checking

Best for Overall account for sole proprietors

APY
1.30%

With $0 min. balance for APY

Monthly fee
$0

Bonus
$300

Requirements to qualify

at Bluevine, Deposits are FDIC Insured

Best overall online business checking account

Bluevine Business Checking

Best for Overall account for sole proprietors

APY
1.30%

With $0 min. balance for APY

Monthly fee
$0

Bonus
$300

Requirements to qualify

at Bluevine, Deposits are FDIC Insured

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

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

Grasshopper Innovator Business Checking Account

Best for Cash-back rewards on debit card spending

APY
1.55%

With $25,000 min. balance for APY

Monthly fee
$0

Bonus
N/A

Clock icon Cash back on debit

at Grasshopper Bank, Member FDIC

Grasshopper Innovator Business Checking Account

Best for Cash-back rewards on debit card spending

APY
1.55%

With $25,000 min. balance for APY

Monthly fee
$0

Bonus
N/A

Clock icon Cash back on debit

at Grasshopper Bank, Member FDIC

U.S. Bank Business Essentials

Best for Free business checking (brick-and-mortar)

APY
N/A

Monthly fee
$0

Bonus
$400

Requirements to qualify

Clock icon Best free account

at U.S. Bank, Member FDIC

U.S. Bank Business Essentials

Best for Free business checking (brick-and-mortar)

APY
N/A

Monthly fee
$0

Bonus
$400

Requirements to qualify

Clock icon Best free account

at U.S. Bank, Member FDIC

Business Premium Savings Account

Best for Dedicated business savings account

APY
3.80%

With $0.01 min. balance for APY

Monthly fee
$0

Bonus
$375

Requirements to qualify

at Axos Bank®, Member FDIC

Business Premium Savings Account

Best for Dedicated business savings account

APY
3.80%

With $0.01 min. balance for APY

Monthly fee
$0

Bonus
$375

Requirements to qualify

at Axos Bank®, Member FDIC

Chase Business Complete Banking®

Best for Brick-and-mortar banking

APY
N/A

Monthly fee
$15.00

Waived with $2,000 minimum balance

Bonus
$500

Requirements to qualify

at Chase, Member FDIC

Chase Business Complete Banking®

Best for Brick-and-mortar banking

APY
N/A

Monthly fee
$15.00

Waived with $2,000 minimum balance

Bonus
$500

Requirements to qualify

at Chase, Member FDIC

Found Small Business Banking

Best for Tax planning and invoicing tools

APY
N/A

Monthly fee
$0

Bonus
$125

Requirements to qualify

at Found, Deposits are FDIC Insured

Found Small Business Banking

Best for Tax planning and invoicing tools

APY
N/A

Monthly fee
$0

Bonus
$125

Requirements to qualify

at Found, Deposits are FDIC Insured

nbkc Business Account

Best for Cash deposits

APY
N/A

Monthly fee
$0

Bonus
$250

Requirements to qualify

at nbkc bank, Member FDIC

nbkc Business Account

Best for Cash deposits

APY
N/A

Monthly fee
$0

Bonus
$250

Requirements to qualify

at nbkc bank, Member FDIC

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

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

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Can you open a bank account as a sole proprietor?

Financial institutions typically don't limit business accounts to incorporated companies or restrict access based on factors like revenue or time in business. That means that sole proprietors can — and should — open a business bank account. You can often open an account online or in person easily with the right documentation.

How to open a business checking account as a sole proprietor

While business account requirements will vary by bank, here's what you'll typically need as a sole proprietor:
  • A government-issued photo ID.
  • Business license.
  • Business name registration certificate or “doing business as” documentation.
  • Employer identification number (EIN) if you have one. Otherwise, your Social Security number.
  • Company details: industry and business type, when it was formed, and your business address and phone number.
You’ll also need to provide some personal information, including your date of birth, home address and phone number, and personal email address.

Do sole proprietors need business bank accounts?

A dedicated business bank account can help sole proprietors separate business and personal finances. This makes it easier to track business income and expenses, file taxes, and apply for business loans and grants.
If your business is more of a side hustle than a full-time operation, you may technically be able to use your personal checking account for business purposes (check your deposit agreement, though, as some banks prohibit this). But even then, using a dedicated business checking account can save you headaches come tax time and put you one step ahead if and when your business grows.

What sole proprietors should look for in a business account

Sole proprietors wear so many hats when running their business: CEO, social media manager, accountant, inventory specialist, tax preparer, tech support and more. Aim for a business account with features that let you take off at least one of those hats, even for a little while.
  • Ease of access: The account you choose should be easily accessible, meaning there aren’t strict limits on transfers or deposits or high fees for activities that are routine for your business (if you do lots of wire transfers, for instance, or make frequent cash deposits). Take note of customer service hours, too. Some online business accounts rely primarily on email for customer support. That might work for some businesses but be a deal-breaker for others.
  • Sub-accounts: Set funds aside for quarterly tax payments or upcoming expenses with dedicated sub-accounts, “envelopes” or savings buckets. Using these tools can make it easier to keep an eye on your business’s overall financial health — and in some cases, continue earning interest on your idle cash. 
  • Interest or cash back: Another way to put your business account to work for you? Have it earn you extra money with features like a high interest rate on your balance or cash back on debit card purchases. 
  • Tax planning: Several online business accounts include tax-planning tools that automatically categorize expenses, identify potential deductions and help calculate what you need to save for self-employment taxes. A few will even generate the necessary tax documents. You may also want to look for built-in bookkeeping software, like Autobooks, or direct integrations with your existing accounting software.
  • Invoicing: A business account that includes free invoicing can cut down on the time it takes to get paid — that’s a real win for client services businesses. Make sure the account doesn’t limit the number of invoices you can send and that they can be customized with your logo.
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.
Last updated on September 18, 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.