10 Best Checking Accounts for Freelancers 2023

As a freelancer, you may have noticed that lots of business bank accounts aren’t designed with you in mind. Many charge monthly fees that can only be waived with large account balances, and they come with lots of features you don’t need.

So what’s a budget-conscious freelancer to do? Well, it turns out there are affordable business checking accounts out there, some of which have features just for freelancers―but they probably don’t come from the banks you know.

Don’t worry though―we’ve done the research for you and rounded up the best freelancer bank accounts. For most freelancers, Bluevine’s interest-bearing checking is the best account option. Let’s look closer at it and your other best options.

Now that you’ve seen our favorite checking accounts for freelancers, how do you actually pick a bank? We suggest you consider a few factors.

First, think about costs. As a freelancer, you already have to pay for things like self-employment taxes and business expenses. You shouldn’t waste money paying monthly fees or other pricey fees on your checking account. That’s why we stuck to banks that charge fewer fees than typical banks. Most of our picks don’t charge any monthly fees or transaction fees―so you get to keep more of your money.

Next, consider integrations. If you have business software you can’t live without, you might want to find a bank account that can integrate with it. For example, if you use a certain accounting or payment processing software (like Square or Stripe), it might be in your best interest to find a bank account that plays nicely with that software.

Then you can think about other useful features. Like if you have an accountant do your taxes each year, look for a checking account that offers accountant access so you don’t have to turn over all your passwords. Or if you want to make sure you set aside enough money for your quarterly tax payments, you might find sub-accounts helpful. Or if you want your account balance to do more for you, look at interest-bearing accounts.

Put simply, freelancer checking accounts can come with lots of useful features, so make sure you look for the features you need most.

Found is an all-in-one platform making it easy for gig workers and freelancers to bank, send and receive invoices, and care for their bookkeeping and taxes. The only trick is that Found does not allow for add-ons like employee accounts. This is a checking account for solopreneurs who are only in business with themselves.

What makes Found especially helpful is that Found links to Venmo or PayPal and other apps for accepting payments. 

It just takes a quick online application that does not require your credit score. Then, you are free and easy with no monthly fees and unlimited transactions. 

Lili offers a free checking account it says was designed just for freelancers. And based on its unique tools for freelancers, that seems to be true.

Lili’s free checking accounts come with standout features like free sub-accounts (so you can plan ahead for quarterly estimated tax payments). You can even specify a percentage of each account deposit to get automatically set aside for taxes. Lili also offers features like expense reports and integrations with online platforms (like Upwork, Etsy, and Shopify). 

With a paid Lili account ($9.00 a month), you can even get invoicing tools, interest-bearing savings, and a cashback debit card. Just note that Lili has a spending limit of $5,000.

Even with those small caveats, there’s plenty to like about Lili and its tools for self-employed people. And Lili doesn't just specialize in bank accounts for solopreneurs anymore either—they've opened up their services to all business types. So if you're thinking of changing business types in the future, you can keep your account with Lili.

Novo bank accounts have lots of software integrations. It works with popular accounting software, virtual wallets, and even credit card processing software (among other things). Plus, Novo gives you discounts on things like web hosting, travel, and some software.

Between those integrations and the lack of fees in its checking accounts, there’s a lot to like about Novo. It does have some troubling negative reviews (complaining about bad customer service and unexpectedly closed accounts). But if you like the sound of its discounts and integrations, you might want to try Novo anyway.

Bluevine offers the best checking account for freelancers.

Why? Well, Bluevine has a lot going for it. Bluevine doesn’t charge most normal banking fees (such as monthly maintenance fees, transaction fees, or overdraft fees). Bluevine as a whole has great customer reviews (though there aren’t a ton of banking-specific reviews yet).

Plus, Bluevine makes it easier to deposit cash than most banks on this list. (Just find a GreenDot location near you.) And Bluevine throws in two free checkbooks when you open an account.

Then there’s the fact that Bluevine checking accounts earn interest. From the moment you open a Bluevine account, you’ll start earning a 2.0% interest rate on your balance (for balances up to $250,000, at least). That’s a great rate for a business bank account ― especially a checking account. It’s a higher rate than most business savings accounts these days. In other words, Bluevine lets you make the most of your hard-earned money.

Put simply, a Bluevine checking account can help you get more from your freelancing funds ― no extra hours or invoicing required.

If you need a freelancer bank account as quickly as possible (maybe so you don’t miss a client’s next pay cycle), then you’ll like Small Business Bank.

Small Business Bank has the fastest approval time for new accounts of the lenders on this list. Lots of online lenders can take days or even weeks to get your new account up and running. But Small Business Bank can approve your new account the same day you apply (depending on when you apply). It also has unusually long support hours for an online bank, making your chances of same-day approval even better.

And like Lili and Bluevine, Small Business Bank charges almost no banking fees, making its accounts fast and affordable. The tradeoff? Small Business Bank has a pretty outdated website and mobile app, so don’t expect the latest and greatest features from your mobile banking. (It still has all the essential banking tools.)

If that doesn’t worry you, then you can get started with Small Business Bank in no time.

Not sure the banks above have exactly what you’re looking for? Maybe these honorable mentions will better fit your needs.

Got big plans for expanding your freelancing business? Axos Bank could be right for you.

Axos Bank offers a wide range of bank accounts, with plenty of options for both small and big businesses. So Axos Bank can work for you when you’re a solo freelance writer or when you’ve built a large marketing agency―though you’ll probably end up switching your bank account type somewhere along the way.

Keep in mind that Axos Bank has a larger minimum opening deposit than most of our other recommended banks (for its business interest checking account). That’s part of the reason we recommend it for growing businesses―because Axos can be a bit much for freelancers with no plans of expansion. Also, Axos Bank does charge more fees (like transaction fees) than other banks on this list.

But since Axos Bank can work for larger businesses than many banks for freelancers, it’s still the best option for scaling businesses.

Looking for an account that lets you earn the most interest possible? Then let’s look at Kabbage.

Kabbage (like Bluevine) offers an interest-bearing checking account. So while you don’t pay any of the usual bank account fees (like a monthly fee or transaction fees), you do make money on your account balance. In fact, Kabbage offers the highest interest rate we’ve found―1.1% APY (annual percentage yield).

As an added bonus, Kabbage also has free sub-accounts, so you can set aside that tax money (or whatever other money you want to save up). That said, you should know that Kabbage has only just started offering banking services―so we don’t have a lot of reviews to go off of right now. You’re kind of a guinea pig, in other words. (But Kabbage gets consistently good reviews for its financing.)

If you’re fine with that kind of trailblazing, though, Kabbage has plenty to offer with its interest-bearing checking.

TIAA Bank mostly stands out because of its big ATM network. Its network includes more than 80,000 ATMs. And if you can’t find an in-network ATM, TIAA will reimburse you for some or all of your out-of-network ATM fees each month (depending on your account balance). So if you plan to withdraw lots of cash, TIAA’s ATM network might be just what you need.

That said, TIAA Bank does have a high minimum opening deposit ($1,500), and you’ll probably end up paying some transaction fees. In other words, it’s not the cheapest option. Still, the convenience of TIAA’s ATM network might make up for the extra costs.

NorthOne gives you free sub-accounts with your business checking account, so you can squirrel away money for self-employment taxes, an upcoming equipment purchase, or whatever else you can think of. (Think of Lili's tax accounts, but for anything you want.)

The downside? NorthOne charges an unwaivable monthly fee (but no other typical banking fees). Sure, it’s only $10―but that’s $10 you could save each month by choosing a different bank. So we mostly suggest choosing NorthOne if you prefer the user interface on the mobile app or need extended customer service hours.

If you use QuickBooks Online for your invoicing and tax needs, you might like the new QuickBooks Checking. It earns a very competitive 1.75% interest rate on envelopes. Plus, it gives you envelopes, or sub-accounts, where you can store money for expenses. And of course, it all syncs easily with other QuickBooks products.

But while QuickBooks Checking is a “free” account (with no minimum opening deposit, monthly service fee, or transaction fees), you do need to be an existing QuickBooks Online customer to use it. That makes this account more expensive than other options on this list. But if you use QuickBooks anyway, QuickBooks Checking is worth looking at.

If you prefer in-person banking, then look at your local credit unions. Credit unions often offer low-cost business accounts, and they usually offer great customer service. Plus, you’ll get all the convenience of in-person banking, like easy cash deposits.

With the number of credit unions in the United States, we can’t possibly review them all. You’ll have to rely on your own best judgment here. But based on the trends we’ve seen at credit unions, there’s a great chance your local credit union has great freelance bank account options.

Freelancer bank accounts should be affordable (if not free) and come with features that make your life as a business owner easier. We’ve rounded up banks that meet both those requirements.

Bluevine offers the best features and pricing overall, making it our favorite checking account for freelancers—but Lili offers loads of useful freelancer tools too. Kabbage lets you earn a lot of interest on your checking account funds, while Small Business Bank offers fast approval, and NBKC gives you options for personal banking too.

In other words, you have plenty of good options―especially if you check out our honorable mentions. So whether you want the ability to plan for expenses with Lili or get extra earnings with Bluevine, we think you’ll find a checking account that meets your needs.

Want a business savings account to go with your checking account? Take a look at our favorite high-yield savings accounts for business.

To get our list of the best checking accounts for freelancers, we looked at more than 30 different online and traditional banks. We scored and ranked banks based on factors like checking account costs, customer reviews, and extra tools and perks for freelancers.

Disclaimer

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.