From my years as a banker, I know how important it is to choose an account that handles everyday needs, like ACH transfers, bill pay, and wire capabilities, and also gives you the flexibility to grow with your business. Mobile access and integrations with platforms like QuickBooks, Stripe, and PayPal are now essential, and transparent fees and reliable support remain just as important.
I’ve ranked the top nine providers based on their current pricing, features, and overall value for self-employed individuals:
- Bluevine
Bluevine is a financial technology company, not a bank. Banking services provided by Coastal Community Bank, Member FDIC.
: Best overall bank for self-employed with high APY checking and access to credit - Chase
JPMorgan Chase Bank, N.A. Member FDIC.
: Best for in-person banking and nationwide branch access - Mercury
Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group, Column N.A., and Evolve Bank & Trust, Members FDIC.
: Best for tech-focused solopreneurs sending USD wires - Relay
Relay is a financial technology (fintech) company, not a bank. FDIC insurance up to $3M is available for funds on deposit via Thread Bank, Member FDIC.
: Best for collaborative banking tools and multiuser expense management - Novo
Novo is a fintech, not a bank. Banking services provided by Middlesex Federal Savings, F.A. Member FDIC.
: Best for fast payments and app integrations - Found
Found is a financial technology company, not a bank. Banking services are provided by Lead Bank, Member FDIC.
: Best for built-in tax tools and automated bookkeeping - Baselane
Baselane is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC.
: Best for landlords needing rent collection and property management features - North One
North One is a financial technology company, not a bank. Banking services for the deposit account provided by The Bancorp Bank, N.A., Member FDIC.
: Best for budgeting tools and wide software integrations - Lili
Lili is a financial technology company, not a bank. Banking services are provided by Sunrise Banks, N.A., Member FDIC.
: Best for businesses and e-commerce founders managing finances in one place
I am committed to delivering expertise-led answers to your small business questions by using my first-hand experience and testing platforms or services when able.
I ensure that the best answers I provide are founded on accuracy, clarity, authority, objectivity, and accessibility. Those are aligned with the Fit Small Business Editorial Policy.
Staff Writer – Finance at Fit Small Business
Quick comparison: Best bank accounts for self-employed professionals
Bluevine: Best overall bank for self-employed with high APY checking and access to credit
What I like
- Three checking tiers with competitive APYs
- No monthly fee on Standard plan
- Subaccounts available to organize funds by project
Drawbacks
- No physical branch locations
- Fees for cash deposits through Green Dot/Allpoint ATMs
- Higher APYs require meeting spend/balance thresholds or paying a monthly fee
Read our Bluevine business checking review
Features
- Interest-earning checking: 1.50% APY on Standard when requirements are met
- Unlimited standard ACH transfers and transactions
- Free debit card with cashback on eligible business purchases
- Free subaccounts (up to 5 on Standard, more on Plus and Premier)
- FDIC insurance up to $3 million through Coastal Community Bank and program banks
- Integrations with QuickBooks, Xero, Wise, and more
- Line of credit and credit card access for eligible businesses
- Mobile check deposit and digital bill pay
- You want to earn interest from a business checking account: Bluevine Standard pays 1.50% APY on balances up to $250,000 when you meet monthly activity requirements, such as $500 in debit card spend or $2,500 in customer payments. Higher tiers (Plus and Premier) can increase that rate to as much as 3.70% APY on balances up to $3 million. Those interest-earning options make Bluevine the overall best bank for self-employed professionals.
- You need access to business financing: Bluevine offers a revolving line of credit up to $250,000 alongside its checking product. Having banking and lending under one roof makes it easier for self-employed professionals to cover cash flow gaps or fund growth.
- You seek to save on standard banking fees: There are no monthly fees or minimum balance requirements on the Standard plan, and all plans provide unlimited transactions. Premium tiers reduce wire and ACH fees and add more subaccounts, making Bluevine one of the most affordable digital-first banks for small businesses.
- You want to protect business funds: Deposits are FDIC-insured up to $3 million through Coastal Community Bank and Bluevine’s network of program banks. This makes Bluevine a good option if you manage larger reserves and want peace of mind that your funds are covered.
- You value digital tools and integrations: Bluevine connects with QuickBooks, Xero, Wise, and other business platforms. You can automate bill pay, schedule transfers to subaccounts, and issue multiple debit cards, giving you flexibility as your business grows.
- You deposit cash regularly: One of the few drawbacks to Bluevine is the cost of cash deposits. Business owners dealing with cash often should consider traditional banks with several physical locations, such as Chase.
Chase: Best for in-person banking and nationwide branch access
What I like
- Built-in card acceptance via Chase QuickAccept® using the Chase Mobile app
- Multiple ways to waive the monthly fee
- Branch presence in 48 states
Branches in Washington D.C. and all 48 mainland states. No branches in Hawaii or Alaska.
Drawbacks
- $15 monthly fee if you don’t meet the waiver criteria
- Does not earn interest
- Fee for cash deposits of over $5,000 per statement period
Read our Chase Business Complete Banking review
Features
- Manage debit, deposit, and ATM card settings for individual employees
- Deposit checks, view account balances, pay bills, and make transfers through the mobile app
- Integrates with QuickBooks and other leading accounting software
- Free debit card, mailed within 10 business days of application approval
- Physical checks’ costs depend on type ordered
- Chase Payment Solutions
- Live customer support online or in branch during business hours
- Other products include business savings, CDs, lending products, credit cards, merchant services, and collection services
- You require a full-service traditional bank: Chase is a great choice if you want access to branches, merchant services, and robust digital tools. It offers three excellent business checking products, all with waivable monthly fees once criteria are met. Read our comparison of Chase’s business checking accounts to find the right fit for your business needs. You may also want to see our list of the best Chase business credit cards.
- You want a fee-free cash deposit allowance: With up to $5,000 in fee-free cash deposits per month, Chase is a go-to business bank account for self-employed individuals who handle cash regularly.
- You need a premium business checking account: The highest-tier account, Platinum Business Checking, is the best premium business checking account on the market and comes with a waivable $95 monthly fee. Read our Chase Platinum Business Checking review to learn more about its features and determine if it fits your needs.
- You exceed paper transaction limits: Chase Business Complete Banking only allows teller or paper transactions of 20 each month. Consider other traditional banks, such as those in our roundup of the best banks for small businesses, if you need over 20 monthly.
Mercury: Best for tech-focused solopreneurs sending USD wires
What I like
- No monthly maintenance fee on introductory account
- No fees for domestic or international wires
- Treasury product offers outstanding yield on balances over $500,000
- FDIC coverage of up to $5 million
Drawbacks
- Does not support cash deposits
- No paper check-writing abilities
- Limited lending options and no cash deposits
Read our Mercury business checking review
Features
- Business checking and savings with no maintenance or overdraft fees
- Unlimited transactions and free standard ACH transfers
- Free domestic wires and free international USD wires sent through Mercury’s structure
- Debit cards available (virtual issued instantly; physical mailed)
- Expense management controls and team permission settings
- Integrations with tools like QuickBooks, Stripe, PayPal, Shopify, and Zapier
- Dedicated support available through chat and email
- You send international wires frequently and seek a business checking account with no monthly fee: Mercury, a fintech banking product designed for startups and tech companies, doesn’t charge international wire transfer fees as long as wires are sent via Mercury’s structure. Additionally, its checking and savings accounts have no minimum deposit or balance requirements.
- You are a tech-savvy or incorporated startup: Mercury is an ideal choice for digital-first businesses needing modern and flexible banking solutions for startups. Its no-branch model caters perfectly to tech-driven founders seeking the best bank for startups without the overhead of traditional banking.
- You seek higher FDIC insurance: The biggest perk of Mercury is its Vault product. Mercury will use partner banks and a sweep network to extend your FDIC insurance
Deposits in Mercury checking and savings accounts are held by partner banks, Choice Financial Group, Column N.A., and Evolve Bank & Trust, Members FDIC. Through sweep networks, these funds become eligible for up to $5M in FDIC Insurance.
to up to $5 million. This secures Mercury’s spot among the best startup banks for larger reserves.
- You need to deposit cash or use ATMs: Mercury does not support cash deposits or ATM withdrawals. If you handle physical cash or prefer in-person support, consider traditional providers, such as Chase.
Relay: Best for collaborative banking tools and multiuser expense management
What I like
- No account fees
- Auto categorization for spending
- FDIC insurance up to $3 million
Drawbacks
- No physical locations
- No options for lending
- Checking does not earn interest
Read Our Relay Business Checking Review
Features
- No monthly maintenance fee
- No overdraft fees
- Up to 20 free checking accounts
- Phone support available from 9 a.m. to 8 p.m. EST
- 50 virtual and physical debit cards
- Compatible with PayPal, Venmo, Square, and Stripe
- Integration with QuickBooks Online and Xero
- Free ATM withdrawals using the Allpoint ATM network
- Two savings accounts per business
- You need multiuser access for your team or accountant: Relay lets you assign logins for your accountant or bookkeeper and team members, with customizable user roles and permissions to ensure the right level of access for each.
- You need access to multiple debit cards for team members: You can issue up to 50 physical or virtual debit cards per business, which you can easily assign to individual team members. In addition, you can set custom spending limits and monitor team expenses.
- You want to use automated cash management features: Relay is a strong option if you want one of the more flexible self-employed bank accounts for separating expenses and automating bill pay. By using the camera in the app on your smartphone, you can capture and store physical receipts to streamline bookkeeping and make monthly reconciliation fast and easy.
- You need a full-service bank offering both checking and lending options: If your business requires in-person services from a bank that offers checking and financing solutions, Chase is a strong choice. With a wide range of products for businesses at every stage, it lets you grow your operations and upgrade as your needs grow.
Novo: Best for fast payments and app integrations
What I like
- Monthly refunds up to $7 in ATM fees
- No monthly maintenance fees
- Novo Boost and Express ACH allow faster access to your funds
Drawbacks
- Unable to deposit cash directly
- Lack of savings accounts
- Checking account does not earn interest
Read our Novo business checking review
Features
- Integrates with other business tools, such as QuickBooks, Xero, Stripe, Square, PayPal, Wise, and Shopify
- Set aside funds for taxes and other large business expenses with Novo Reserves
- Deposit checks directly through the mobile app
- Online banking includes unlimited invoicing and bill pay
- Novo Boost, in coordination with Stripe, allows you to access funds faster
- Express ACH lets you accept or receive same-day ACH payments
- Quick financing option, MCA up to $75,000
- Virtual debit card available immediately, one free physical debit card per user
- Paper checks can be sent straight from the app
- Customer support available via email, phone, and app
- You accept payments through Stripe: Novo Boost lets Stripe users access funds faster than standard payout times.
- You send and receive ACH payments regularly: Novo’s Express ACH enables you to accept or send same-day ACH payments. Combining Novo Boost and Express ACH gives you faster access to your money than other digital-only providers, an important feature for self-employed banking where cash flow timing matters.
- You want seamless app integrations: Novo integrates with platforms like Stripe, Square, PayPal, Shopify, QuickBooks, and Xero. It also supports digital wallets such as Apple Pay and Google Pay, making it a strong fit for freelancers and e-commerce founders.
- You want access to budgeting tools: Novo Reserves allows you to set aside funds into up to 20 categories for taxes, payroll, or expenses, helping you stay organized.
- You need access to traditional financing: Novo does not offer lines of credit or loans. Its only financing option is merchant cash advances, so consider a provider like Bluevine if you want a revolving line of credit.
Found: Best for built-in tax tools and automated bookkeeping
What I like
- No required monthly fees, minimum balances, account fees, or sign-up fees
- Excellent expense tracking on both its desktop and mobile apps
- Helps you track tax write-offs and gives you real-time tax estimates
Drawbacks
- No lending products
- Interest only through paid tier, Found Plus
- Checkbooks unavailable to account holders
Read our Found Business Checking review
Features
- Provides a business debit Mastercard, which allows you to track expenses and receive purchase alerts
- Debit cards can be frozen in the Found app
- Desktop and mobile apps
- Connect to accounting software and payment apps, such as Cash App, PayPal, Square, Venmo, and Stripe
- Integrated bookkeeping allows you to categorize expenses, customize invoices, capture receipts, and set custom rules
- Track tax write-offs in the app
- View your tax estimate update in real-time
- Pay your taxes directly from the app
- Send your Schedule C directly from the app
- Allows cash deposits at over 77,000 retail locations
- Customer service via email, online form, and support guides on the website
- You need budgeting and tax support: Found’s budgeting features and built-in tax tools make it a strong contender among the best business accounts for self-employed individuals. It helps estimate tax liability, allows direct tax payments, and even files your Schedule C, all from the app.
- You seek built-in bookkeeping tools: You can categorize expenses, capture receipts, and set custom rules directly within the app to streamline your financial tracking.
- You want customizable, professional invoicing: Found is one of the best banks for freelancers seeking all-in-one financial management since it lets you send unlimited free invoices, personalize them with your logo and brand colors, and accept payments through popular apps like PayPal and Cash App.
- You want fee-free ATM withdrawals and an option for cash deposits: Found does not charge an ATM fee when you withdraw cash, although third-party operator fees may apply. You can also make cash deposits at over 77,000 retail locations, and eligible customers can deposit checks directly through the app.
- You want overdraft protection: If overdraft protection is important to you, Lili may be a better fit since Found does not allow overdrafts.
Note: Found is a financial technology company, not a bank. Business banking services are provided by Lead Bank, Member FDIC. The Found Mastercard Business debit card is issued by Lead Bank pursuant to a license from Mastercard Inc.
Baselane Checking: Best for landlords needing rent collection and property management features
What I like
- Unlimited virtual debit cards and accounts
- ACH fee can be changed to tenant responsibility instead of the landlord for rent collection
- Rent reporting allows tenants to build credit
Drawbacks
- No physical branches
- Doesn’t offer money market, CDs, or credit cards
- Cash deposits at Allpoint ATMs only
Read our Baselane business checking review
Features
- No monthly fees, initial deposit, or minimum balances
- Online account opening can be done in two minutes
- High-yield savings accounts.
- Unlimited accounts partitioned by unit to stay organized
- Virtual cards to control and manage spending
- Send ACH payments, pay invoices, make transfers, and deposit checks from any device
- See all property finances in one place
- Integration with rent collection and bookkeeping for a true all-in-one system
- Free ATM withdrawals and cash deposits at over 55,000 Allpoint ATMs
- Single-click, smart categorization with Schedule E and property tags to help with tax preparation
- You want integrated rent collection with your business bank account: Baselane is tailored for property managers and self-employed landlords. It offers free rent collection, automated late fees, income and expense tracking, and property dashboards, all important features for self-employed banking in real estate.
- You manage multiple properties and want categorized finances: You can create sub-accounts for each property and issue virtual cards, simplifying financial tracking in a single business account.
- You want free checking with no hidden fees: As one of the most affordable business accounts for self-employed property owners, Baselane has no monthly maintenance fees, overdraft fees, or minimum balance requirements, which is ideal for budget-conscious landlords.
- You want lending or credit options: Baselane doesn’t currently offer business credit cards, loans, or lines of credit. If you need access to financing alongside your business checking, I recommend a provider like Bluevine or Chase.
North One: Best for budgeting tools and wide software integrations
What I like
- Ability to connect sales, payments, spending, and budgeting in one place
- Offers high-yield checking accounts
- Envelopes are offered to separate funds into different categories for easy budgeting
- Can receive unlimited ACH and domestic wire deposits
Drawbacks
- No physical locations
- Customer support mostly online
- Cash deposits come with fees
Read our North One business checking review
Features
- Interest-bearing accounts
- Physical and virtual cards for each owner
- Discounts and free trials of business software and productivity tools
- Desktop and mobile app banking
- Free bill pay
- Integration with QuickBooks, Wave, Patriot Accounting, and Zoho
- Compatible with Stripe, PayPal, Square, Shopify, and Amazon
- Ability to send paper checks from your North One account
- Some cash deposit and ATM fee refunds (based on your plan)
- Individual login access per owner
- Lines of credit and term loans
- You want an efficient budgeting tool: North One’s Envelopes feature lets you allocate funds for taxes, payroll, supplies, or savings, which is perfect if you manage irregular income and need to plan ahead for expenses and tax obligations.
- You need fast payments and app integrations: You can integrate with over 50 apps, including QuickBooks, Shopify, and PayPal, making North One’s business bank account ideal if you rely on automation and juggle multiple income streams or e-commerce platforms.
- You prioritize mobile experience: As one of the top-rated mobile apps according to customer ratings on Google Play, North One is optimal for freelancers and solopreneurs who manage their finances on the go. You can send payments, track spending, and access your account 24/7, all from your phone.
- You want to earn an APY: North One helps your business savings grow by offering 2.5% APY on its standard checking account and 3.0% APY under its paid tier, which is beneficial if you want to set aside funds while earning interest.
- You want access to in-person service: You want access to in-person service or international wires. North One is a digital-only provider with no physical branches and does not support international wire transfers. If you prefer the option to visit a branch or send payments abroad, consider a traditional bank like Chase.
Lili: Best for businesses and e-commerce founders managing finances in one place
What I like
- No monthly fees for basic tier
- 3.00% APY on savings accounts
- Paid plans provide tax preparation assistance and bookkeeping tools
Drawbacks
- No physical locations
- Some of the best features are in higher-tier accounts
- Outgoing wire transfers are $15
Read our Lili business checking review
Features
- Free Visa business debit card
- Mobile banking
- Two-day early payment via direct deposit
- Integrations with QuickBooks, Venmo, PayPal, and CashApp, among others
- Toll-free phone support Monday through Friday, 9 a.m. to 8 p.m. Eastern time, and by email
- Lili Pro available for $9 per month
- Unlimited invoice creation (Lili Smart and Lili Premium)
- Prefilled tax forms (Lili Smart and Lili Premium)
- Bookkeeping solutions (Lili Pro, Lili Smart, and Lili Premium)
- No charge for overdraft items
- You need a platform where you can manage all your finances in one place: Lili combines checking, savings, invoicing, expense tracking, and tax prep tools inside a single app, making it especially useful for e-commerce founders and small businesses wanting to streamline finances without juggling multiple platforms.
- You need unlimited invoicing directly in your banking app: Available under a Lili Smart or Lili Premium plan, the two higher tiers, Lili’s invoicing features rival those of the best business banks for startups.
- You seek tax preparation tools inside the app: With Lili Pro or higher, you get access to built-in tax tools that help track potential write-offs, set aside money using a tax bucket, scan receipts, generate expense reports, and even complete your Schedule C directly in the app, making tax season far less stressful for first-time freelancers and independent contractors to stay organized and prepare for quarterly tax payments.
- You prefer to earn interest on your savings: Lili’s paid tiers (Pro, Smart, Premium) include a savings account that earns 3.00% APY on balances, helping you passively grow funds.
- You need physical checkbooks: Unfortunately, Lili does not offer physical checkbooks. Similar to Bluevine, you can deposit cash, but it must be done through Green Dot retail locations for $4.95 per transaction. Chase is an excellent option that issues checkbooks and allows fee-free deposits of up to $5,000 at all its branches.
How I evaluated the best bank accounts for self-employed professionals
To identify the best bank for self-employed professionals, I focused on the unique needs of freelancers, independent contractors, and sole proprietors who often manage their finances without a full-time bookkeeper. The goal was to highlight banking options that support growth and deliver consistent value.
- Account cost: I compared monthly maintenance fees, waiver options, and minimum opening deposits. These factors are critical for keeping overhead low and ensuring cash flow remains flexible.
- Transaction flexibility: I looked at how each account handles transaction volume and potential limits, along with fees for wires, ACH, and cash deposits. These are key considerations when income and expenses fluctuate from month to month.
- Business tools and integrations: I prioritized accounts with built-in features like invoicing, automated tax savings, expense tracking, and integrations with QuickBooks, PayPal, Stripe, and other platforms that freelancers commonly use.
- Financial growth support: I evaluated accounts for added benefits such as high-yield savings or checking options, access to credit lines or loans, and scalable features that adapt as a business expands.
- Customer service and usability: I reviewed the responsiveness and accessibility of customer support, as well as the quality of mobile and desktop tools. Reliable digital banking and strong support are essential for self-employed professionals who need quick, on-the-go account management.
Each bank was analyzed using current information from official websites and product disclosures available as of September 2025 and was evaluated based on its fit for business accounts for self-employed professionals. When comparing self-employed bank accounts, I focused on cost, transaction flexibility, digital tools, and customer support.
Keep in mind that fees and features can change over time. Each recommendation in this roundup reflects expert insights and what’s most useful for real business needs. Since every business is different, I recommend that you choose the account that aligns best with your unique business priorities.
How to choose a self-employed bank account
While I used Fit Small Business’s criteria to select the best banking options for self-employed professionals, there are a few factors you should weigh before deciding. For a broader overview, check out our full guide on how to choose a bank for your small business.
Decide if you actually need a business bank account.
If you’re a freelancer, sole proprietor, or independent contractor, you’re not legally required to open a business bank account, but I still recommend it. Separating your business and personal finances makes bookkeeping easier, helps you stay organized at tax time, and presents a more professional image to clients. It also protects your personal finances in the event of a legal dispute or audit.
Review fees, APY, ATM access, and app ratings.
For the self-employed, costs can add up quickly. Look for accounts with no or low monthly fees, minimal transaction charges, and limited restrictions. If you plan to carry a balance, check whether the account earns interest and what requirements you’ll need to meet. ATM access also matters, especially if the bank doesn’t have a large network but offers reimbursements instead.
Mobile banking is often the primary way freelancers manage their money, so ensure the bank’s mobile app is highly rated. It should let you deposit checks, send transfers, and monitor your account with ease. For our top picks, see the best small business checking accounts.
Look for integrated invoicing and expense tracking.
If you send invoices or track expenses manually, you’ll save time with a bank that includes invoicing and expense categorization tools. Some business accounts let you send branded invoices, automate expense reports, and even accept payments directly through the app, reducing the need for extra software.
Check for tax tools made for freelancers.
Staying on top of taxes is one of the biggest challenges of being self-employed. The best bank accounts for freelancers include tax calculators, automated savings for quarterly payments, and tools to help prepare IRS forms like Schedule C. If the bank doesn’t include these tools, make sure it integrates easily with third-party tax software.
Consider software integrations.
A strong self-employed bank account should connect seamlessly with the platforms you already use, such as QuickBooks, PayPal, Stripe, or Shopify. These integrations reduce manual work, improve accuracy, and make managing your finances far easier.
What you need to open a business bank account
Each provider on this list may require different documents. Generally, you will need:
- Employer identification number (EIN) or Social Security number (SSN) if you’re a sole proprietor
- Fictitious business name certificate or doing-business-as (DBA) certificate
- Business formation documents
- Organization documents, including your ownership agreements
- Business licenses
- Government-issued photo ID, such as a passport or driver’s license
Frequently asked questions (FAQs)
There’s no legal limit to the number of business bank accounts you can open. However, leaving accounts open without using them can result in a dormant account, which may trigger fees or eventual closure by the bank.
Yes. Freelancers are allowed and encouraged to open a business bank account. Doing so helps separate business and personal finances, simplifies bookkeeping, and gives you access to features like invoicing, ACH payments, and better expense tracking.
I don’t recommend it. Mixing personal and business transactions makes bookkeeping more complicated and could create tax headaches. If your business is structured as an LLC or corporation, using a personal account may also blur liability protections. A dedicated business account makes tax preparation and financial planning much easier and helps you stay organized.
It depends on your needs. Many banks offer business checking accounts with no monthly fees that are ideal for new or part-time businesses. As your business grows, you may want an account with more advanced features like credit lines, treasury management, or integrated accounting tools.
Not always. Most banks let sole proprietors open an account with a Social Security number. However, if you plan to hire employees or expand, applying for an EIN is a smart step to prepare for future growth.