If you’re running a small business, it’s crucial to have an LLC bank account. Not only does it help simplify your accounting, but it can also provide separation between your business and personal finances.

However, not all business bank accounts are created equal. The best business bank accounts for LLCs will help you minimize fees, offer perks for using your checking account, cash management tools and more.

To help you find the best bank account for your LLC, we’ve reviewed more than two dozen accounts and found ten that offer the most for small business owners.

Best Business Bank Accounts for LLC

Best Overall: Bluevine Business Checking

The Bluevine Business Checking account is a great all-around business bank account. Not only does it have no monthly maintenance fees, but it has no minimum balance requirements. Plus, you’ll have the chance to earn up to a 3.70% annual percentage yield (APY) on your checking account balance.

Here’s more on how you can earn interest on the Bluevine checking accounts.

• Standard Account: 1.50% APY on balances up to $250,000 with no fees.
• Plus Account: 2.70% APY on balances up to $250,000 with $30 monthly fee. (Can be waived when you maintain an average daily balance of at least $20,000 and spend at least $2,000 each billing period with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®.)
• Premier Account: 3.70% APY on balances up to $3 million with $95 monthly fee. (Can be waived when you maintain an average daily balance of at least $100,000 and spend at least $5,000 each billing period with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®.)

Want even more reason to love this account? How about up to $3 million in FDIC protection. You can also manage your accounts payable from a single platform. You can send same-day ACH transfers, standard ACH transfers, and international and domestic bank wires.

Pros and Cons of the Bluevine Business Checking

Pros

• No monthly fees
• High APY on account balances
• No minimum balance
• Unlimited transactions
• Paper checks are available
• Free access to over 37,000 ATMs
• You can create up to five sub-accounts

Cons

• No physical branch locations
• $4.95 fee to deposit cash at Greendot ATMs or $1.00 plus 0.50% of the deposit amount at Allpoint ATMs
• No option for savings account
• Out-of-network ATM fees

Best For Welcome Bonus: US Bank Silver Business Checking

If earning a nice welcome bonus is important to you, then you’ll love the U.S. Bank Silver Business checking account. It offers one of the best bank bonuses ($500) and has no monthly service fee.

In addition, this business checking account offers 125 free monthly transactions, and you can grant employees access to the account.

Since U.S. Bank is a nationwide bank, you can probably imagine their product is pretty robust. With their online and mobile banking experience, you can set up ACH and wire payments, track your cash flow, and transfer money.

Pros and Cons of a U.S. Bank Silver Business Checking Account

Pros

• Generous welcome bonus
• No monthly maintenance fees
• Free ATM access at U.S. Bank and Moneypass ATMs
• Unlimited debit cards
• Zelle for Business
• No minimum balance requirements

Cons

• $0.50 per transaction after 125 in a statement cycle
• Free cash deposits limited to $2,500 or 25 transactions
• No interest earned
• Only available in 26 states
• $1.00 fee for outgoing ACH transfers

Make sure you also check out the other available U.S. Bank promotions.

Best For Brick and Mortar Banking: Chase Business Complete Banking®

If you prefer having the option of banking in a branch location or online, the Chase Business Complete checking account might be for you. Similar to the U.S. Bank checking account, you can earn a $500 bonus when you sign up for a new account and deposit at least $10,000 in new money into your account. You’ll also need to complete five qualifying transactions within 90 days of opening your account.

This Chase business checking account does come with a $15 monthly maintenance fee, but there are several ways to have it waived, including the following:

• Maintain a $2,000 minimum daily balance.
• Make $2,000 in Chase Ink business card purchases.
• Have $2,000 in eligible deposits from your Chase QuickAccept® or other eligible Chase Payment Solutions transactions.
• Maintain a linked Chase Private Client Checking℠, JPMorgan Classic Checking, Private Client Checking Plus account.
• Be active or retired military.

Pros and Cons of a Chase Business Complete Banking Account

Pros

• New account welcome bonus
• No minimum opening deposit
• Unlimited fee-free electronic and debit card transactions
• Up to $5,000 in fee-free cash deposits each month
• Integrated payment processing through Chase QuickAccept. This includes same-day deposits at no added fee
• Overdraft protection up to $50

Cons

• Monthly fee (there are ways to have it waived)
• Limits on cash deposits
• No interest
• $3.00 out-of-network ATM fee
• Limit of 20 physical transactions per month

Make sure you also check out the other available Chase Bank bonus opportunities.

Best For Online Banking: Axos Bank® Basic Business Checking

Axos Bank is an online-only bank, meaning they won’t have any branch locations to visit, but they have a great online banking experience. This checking account doesn’t provide many bells and whistles, but that should be expected from a business checking account with no fees.

With this account, you can earn up to a $400 cash bonus when you complete the requirements. You’ll also receive free transactions, and all ATM fees you incur will be reimbursed into your account.

Pros and Cons of an Axos Bank Basic Business Checking Account

Pros

• Welcome bonus
• No monthly fees
• No minimum balance
• Unlimited transactions
• ATM fee reimbursement
• Free cash deposits
• Quickbooks integration

Cons

• No physical branch locations
• Limit of 50 free business checks
• $50 fee for outgoing international wire fee
• Limited customer service hours
• No third-party app integrations beyond Quickbooks

Check out the other available Axos Bank promotions.

Mercury Business Bank Account

If your business has a lot of cash on hand, then the Mercury Business bank account will be a great fit. The reason is that their accounts come with $5 million in FDIC insurance through all their partner banks. However, if you have over $500,000 in cash, your best option is to open a Mercury Treasury account to earn a high APY on your free cash.

Mercury is going to allow you to put your finances on auto-pilot. You can automate payroll with easy wire drawdowns, and your account will integrate seamlessly with bookkeeping platforms like Quickbooks and Xero.

Pros and Cons of a Mercury Business Bank Account

Pros

• No monthly fees
• No minimum balance
• Free domestic and international wire transfers
• Up to $5 million in FDIC insurance
• Add team members to the account with customized permissions
• Integrate with popular apps like Xero, Quickbooks and Stripe
• Physical and virtual debit cards

Cons

• No cash deposits
• No paper checks
• No physical branches
• Limited customer support

Best For Built In Bookkeeping: Found Small Business Banking

Found Small Business Banking was founded with small business owners in mind. To start, they have no hidden fees. That means no monthly service fee, overdraft fees and no minimum balance requirements. You’ll also be able to take advantage of their built-in bookkeeping feature, which will make tax season so much easier.

You’ll also be able to create different pockets. Each pocket allows you to earmark funds for specific needs. It could be payroll, taxes, or other operating expenses.

Do you struggle to understand how much you should be setting aside for estimated taxes? With your Found small business account, this can be taken care of for you. Each time you get paid, they’ll set aside a tax estimate into a pocket so you’re prepared for tax season.

Pros and Cons of a Found Small Business Banking Account

Pros

• No monthly fee
• No minimum balance
• Automated tax tools
• Expense tracking
• Free virtual and physical debit card
• Free invoicing
• Integrates with third-party apps like QuickBooks, Stripe and PayPal
• Unlimited transactions

Cons

• No cash deposits
• Limited customer support
• No physical branches
• Not available for partnership and non-profits

Best For Cash Back: Grasshopper Innovator Business Checking Account

Some people want to earn a high APY on their business bank account. Others want to earn cash back when making transactions. The Grasshopper Innovator Business Checking Account will do both.

You’ll receive 1% cash back on all online and in-person purchases. Plus, you’ll earn 1.80% APY on your checking account balance. You can also open a Grasshopper Innovator Business Savings account and earn 3.55% APY when your account balance exceeds $25,000.

The Grasshopper business checking account also comes with no monthly maintenance fees, no overdraft fees, and free unlimited ACH transfers.

Pros and Cons of a Grasshopper Innovator Business Checking Account

Pros

• No monthly fees
• High APY
• 1% cash back on transactions
• Unlimited free transactions
• Free incoming domestic wire transfers
• Powerful mobile app
• FDIC Insurance up to $125 million

Cons

• No cash deposits
• No physical branch locations
• No overdraft protection
• You must maintain an average daily balance of $10,000 to qualify for cash back rewards

Best For Travel Rewards: American Express® Business Checking

Signing up for an American Express® Business Checking account will give you the chance to earn 30,000 Membership Reward points after completing the following requirements.

1. Sign up for a new American Express Business Checking Account.
2. Deposit at least $5,000 in eligible deposits into your account within 30 days of account opening.
3. Maintain your account balance for the next 60 days.
4. Make at least five qualifying transactions within 60 days of account opening.

In addition to a nice welcome bonus, you’ll earn two Membership Reward points for every $1 you spend on eligible American Express business debit card purchases. You’ll also earn 1.30% APY on account balances up to $500,000.

Pros and Cons of an American Express Business Checking Account

Pros

• No monthly fees
• No minimum balance
• Welcome bonus
• High APY
• Unlimited transactions
• Earn rewards on debit card purchases
• Free access to over 70,000 ATMs

Cons

• No cash deposits
• One debit card per account
• No joint accounts
• No physical branches
• 2.7% foreign transactions fees

Best For Business Savings: Live Oak Business Savings Account

If your business keeps a lot of cash on hand, you need to make sure you’re earning interest on that money. While a lot of business checking accounts won’t offer interest, many of the best business savings accounts will. This includes the Live Oak Business Savings.

This account has a high 3.60% APY on your savings account balance. Plus, there are no monthly fees, transaction fees, or overdraft fees. You’ll also receive an increased $10 million in FDIC insurance through Live Oaks partner banks.

Pros and Cons of a Live Oak Business Savings Account

Pros

• High APY
• No monthly fees
• No minimum balance requirements
• FDIC Insurance up to $10 million
• Integrates with QuickBooks

Cons

• No cash deposits
• No physical locations
• Limited customer support
• The mobile app has several poor reviews

Best For Loyalty Perks: Bank of America Business Advantage Fundamentals™ Banking

Bank of America has a large number of branch locations across the United States and offers a wide range of business services. When you sign up for a new account, you can also receive a $200 bonus after completing the following requirements.

1. Sign up for a new Bank of America Business Advantage Fundamentals account by December 31, 2025.
2. Deposit $5,000 or more in new money into your account within 30 days of account opening.
3. You must maintain your $5,000 account balance during the maintenance period, which begins 31 days after opening your account and extends until 90 days after account opening.

There is no monthly fee for the first 12 statement cycles. After that, it will be $16 per month. You can have the fee waived with any of the following ways:

• Maintain a $5,000 combined average monthly account balance.
• Spend at least $250 in new net purchases on your business debit card.
• Be a member of Preferred Rewards for Business.

When you have a Bank of America business checking account, you’ll be able to sign up for their Business Preferred Rewards. This will provide you with perks like a 5% to 20% interest rate boost on Bank of America savings, interest rate discounts on Bank of America business lines of credit, and a 25% to 75% rewards boost on Bank of America business credit cards.

Pros and Cons of a Bank of America Business Advantage Fundamentals Account

Pros

• No monthly fee for the first 12 months ($16 per month after, but there are ways to have it waived)
• Up to $5,000 in cash deposits per month
• Receive loyalty perks through Business Preferred Rewards
• Free electronic transactions

Cons

• No interest on the account balance
• Minimum opening deposit of $100
• ATM fees apply on all out-of-network ATMs

Check out the other available Bank of America promotions.

What is an LLC Bank Account?

An LLC bank account is a dedicated checking or savings account opened specifically for your limited liability business (LLC). It allows you to separate your business and personal expenses so there is no comingling of funds. This account should be used for all business activities, including receiving income and paying expenses.

There are some key reasons why opening a business bank account for an LLC is important. Here are a few:

• Legal Separation: A business bank account allows you to legally separate your business and personal funds. This is important for maintaining your limited liability protections.
• Compliance: Many states require LLCs to have a business bank account to maintain their legal protection.
• Financial Management: The proper business bank account allows you to track your business’s income, expenses and cash flow. It can also help simplify bookkeeping and tax preparation.
• Business Credibility: Having separate business accounts will increase your credibility with vendors, employees/contractors and potential lenders.

Types of LLC Bank Accounts

When looking into a bank account for an LLC, you can choose from a few different accounts.

Business Checking Account: The first account you must open for your LLC is a business checking account. This will allow you to receive payments and pay for expenses quickly.

Business Savings Account: You can also use a business savings account if your business keeps a significant amount of cash on hand. This will allow you to earn more interest on your funds than most checking accounts provide.

Business Cash Management Account: Cash management accounts for small businesses are more of a hybrid account. They provide businesses with an operating account that pays daily expenses, similar to a checking account. They also have a reserve account, which usually pays interest on the balance. This is similar to a savings or money market account. Some business cash management accounts will also include a treasury account. This helps you earn additional interest through treasury bills. 

What You Need to Get a Business Bank Account for LLC

Once you’re ready to open a business bank account for your LLC, it’s important to understand the process. This includes what documents and information you’ll need to provide.

1. Gather The Documents Your LLC Bank Account Requires

Before doing anything else, collect all the required documents. While each bank might have different requirements, most will require the following:

• Articles of organization
• LLC operating agreement
• Business license
• EIN verification letter from the IRS

2. Business Information

You will also need to provide basic information about your business. This includes:

• Company’s name
• Physical address
• Email address
• Type of business or industry
• Annual revenue
• Date of establishment.

3. Personal Information

You’ll also need to provide personal information for yourself and anyone else listed as business owners in the articles of organization. This includes:

• Name
• Date of birth
• Address
• Phone number
• Social Security number
• Government-issued ID (driver’s license)

Can You Use a Personal Bank Account For an LLC?

While using a personal bank account for your LLC is possible, it’s not a good idea. Combining your business and personal expenses within the same account can impact the legal protections you receive from having a limited liability company.

It’s also possible that you’ll need to have a separate LLC bank account before you can take out a business loan and have business credit cards.

Methodology

When choosing the best LLC bank accounts, I focused on what really matters to business owners. First, I looked at whether a bank offers a welcome bonus I also considered fees, making sure to highlight accounts with little to no monthly charges. Earning interest is always a plus, so I checked which accounts let businesses grow their balance over time. Minimum balance requirements were another key factor since not every LLC has a large cash reserve. And, of course, I paid close attention to the online and mobile banking experience. Managing your business finances should be simple and convenient.