Best Business Bank Accounts for LLCs 2023

You probably know that it's best practice to use a business-specific bank account for your business―but how do you know which bank has the best option for your LLC?

We’ve done the legwork for you. We looked at bank account fees, benefits, and availability from more than three dozen banks. In this list, we’ll tell you about the most affordable options with all the best perks.

Most LLC business owners will like Bluevine best. It has free checking―and it lets you earn interest on your account balance. Learn more about Bluevine and our nine other picks in our rankings below.

If you’ve shopped around for business bank accounts at all, you’ve probably already realized something: there are lots of different kinds of bank accounts. So what kind (or kinds) do you actually need?

Most LLCs can do just fine with a basic checking account. We recommend looking for one with no monthly fee and as many free transactions as possible.

If you want a little more from your business banking, go ahead and get an interest-bearing checking account instead. These work just like normal checking accounts, but you earn money based on your account balance. Again, look for one with no fees.

Some LLCs may also want a savings account to help with budgeting. Try to find something with a great interest rate (in 2023, that means something over 0.5% at least) and as few fees as possible.

Of course, you have other bank account options:

• Analysis checking
• Money market accounts
• Certificates of deposit

Most business owners don’t need those. They can come in handy, though, so you can learn more about them (and everything else we’ve mentioned) in our guide to the types of business bank accounts.

Bluevine has the best LLC business banking for most companies.

What makes it great? For one, Bluevine checking accounts have no monthly fee, transaction fees, overdraft fees, or any other common fees.

To sweeten the deal, Bluevine offers interest on your account balance ― at a whopping 2% APY (annual percentage yield) — that beats most business savings accounts. And you can earn 2% on balances up to $250,000.

You do have to meet certain conditions each month to earn that interest. Either spend $500 with your Bluevine business debit card or receive $2,500 in payments to your Bluevine business account from customers.

But even without the interest, Bluevine offers a solid LLC checking account. You get up to five free subaccounts (making budgeting easier than ever), free checkbooks, and easy cash deposits at Green Dot locations. And while Bluevine doesn’t get perfect customer reviews, it does earn better reviews than most banks do.

That all makes Bluevine the best bank for small-business LLCs.

Lili originally tailored its banking experience toward freelancers and single-member LLCs, but they've recently opened to all business types. Which is fantastic because all businesses could benefits from their many account tools.

You can enjoy features like a subaccount for tax money, invoicing software, and expense management tools. In other words, Lili gives you what you need to run your small operation without paying for expensive budgeting or invoicing software.

You can also get benefits like cash back on debit card purchases and a high-yield savings account―great for any businesses. But you do have to pay a small monthly fee ($9.00) to get Lili’s best features through Lili Pro. So for many businesses, Lili isn’t a completely fee-free bank.

Still, Lili’s account tools and other perks make even the paid Lili version a great option.

If you’re a single-member LLC, we highly recommend Found's checking accounts.

Found isn't available for businesses with employees, but the self employed tools it offers share similarities with Lili. Though Found does have a higher price tag on their paid account, the features they offer on their free account might make it worthwhile. Here are a few:

• Expense tracking
• Unlimited ACH transfers
• Tax payment autosaving
• Free, unlimited invoicing
• Accepts payments via Zelle, CashApp, Venmo, and PayPal

Their paid account provides even more bookkeeping, invoicing, and tax features like expense categorization, built-in tax payments, and receipt scanning. Plus, it has a high-yield savings account with a 1.5% APY (same as Lili's).

All those features in mind, most single-member LLCs without employees will only need the free account. Found offers the best solution for the small-business owner who wants a basic checking account with some helpful financial management tools for zero dollars a month.

Want a business savings account? Then you’ll like Small Business Bank.

Small Business Bank offers one of the best business savings accounts around. It always has the highest interest rates around. Right now, that means you can earn between 1.7%–4.48% APY―jaw-dropping rates. But even when its rates aren’t that high, Small Business Bank still offers more interest than any other business bank we’ve seen. And you get those rates without any monthly fee or minimum balance.

Plus, Small Business Bank has a great LLC checking account too. Like with its savings accounts, you don’t pay any monthly fees (though you may still face overdraft fees and other less-common fees). Just note that banking with Small Business Bank may feel a little, er, outdated. It has an old website and a very basic mobile banking app. If you want something modern, look elsewhere.

But for top-notch rates and fee-free savings (and checking), you can’t beat Small Business Bank.

Want to simplify your life? NBKC has great business and personal bank accounts, so you can take care of all your finances in one place.

NBKC’s business checking account offers plenty of value. It doesn’t have a monthly fee (or other banking fees), and it gets you a free money market savings account with competitive interest rates.

Its personal bank accounts are worth looking at too. NBKC personal checking accounts earn interest―a great 1.01% APY as of this writing. Taking care of your personal and business finances in one place makes it easy to avoid losing track of multiple account names and passwords.

We should mention, though, that NBKC gets pretty mixed customer reviews. And it has relatively short customer support hours, even for an online bank. Even so, NBKC’s fee-free personal and business checking make it perfect for LLC business owners wanting to streamline their finances.

Based on our research, most LLC businesses will prefer the five bank accounts above. But if you have specific needs (like if you want a brick-and-mortar branch), one of our five honorable mentions might work better for your small business.

If you don’t want to commit to an online-only bank, KeyBank offers the best traditional banking option. It has a variety of checking and savings account options, including affordable basic checking. You get loads of free cash deposits too.

KeyBank also has all the issues you see with traditional banks. It doesn’t offer banking in most states, and it gets mediocre customer reviews. So while it is better than most traditional banks, we still think plenty of online banks beat out KeyBank.

Still, if you really want to stick with brick-and-mortar banking for your LLC, KeyBank is your best bet.

If you don’t want to commit to an online-only bank, KeyBank offers the best traditional banking option. It has a variety of checking and savings account options, including affordable basic checking. You get loads of free cash deposits too.

KeyBank also has all the issues you see with traditional banks. It doesn’t offer banking in most states, and it gets mediocre customer reviews. So while it is better than most traditional banks, we still think plenty of online banks beat out KeyBank.

Still, if you really want to stick with brick-and-mortar banking for your LLC, KeyBank is your best bet.

Think you’ll want a certificate of deposit, or CD? TD Bank is the place to go. It has tons of business CD options, with terms ranging from just a few days to several years. Plus, TD Bank usually offers better interest rates on its CDs than other traditional banks (and even most online banks).

Of course, TD Bank is a traditional bank. That means bad customer reviews and very limited availability. (There’s a reason it’s not in our top five.)

If you can live with those downsides, though, TD Bank has a great selection of business certificates of deposit for your savings needs.

If you think subaccounts will help your LLC budget, then take a look at NorthOne. It’s not the only bank to offer subaccounts (both Bluevine and Lili do, for example). But NorthOne offers more free subaccounts than other banks, and it gives you easy customization. You can automatically send a percentage of funds to a subaccount, for instance, or a specific amount. There’s loads of flexibility.

But NorthOne is one of the few online banks that charges a monthly maintenance fee. It doesn’t let you waive that fee, either. You have to pony up $10 each month, no matter what kind of account balance or spending habits you have.

In other words, you want to make sure you get at least $10 of value from NorthOne’s subaccounts (and other features) each month.

Our final pick, Novo, offers excellent software integrations. You can connect your Novo account and debit card to your Google Pay or Apple Play wallet, and you can integrate your Novo account with popular small-business accounting software, like QuickBooks and Xero. Likewise, Novo syncs with some payment processing software. As an added bonus, it gives you great perks, like discounts on business software.

Novo only offers checking accounts, though. If you need more advanced bank accounts or services, go elsewhere. And Novo is one of the online banks that doesn’t let you deposit cash—at all. So it doesn’t work for all businesses.

If you care more about software than cash, though, Novo’s integrations can make it a solid bank for your LLC.

Bluevine offers the best small-business checking account for LLCs. With no monthly fee, great interest rate opportunities, and perks like subaccounts and checks, Bluevine has plenty of great features for most small businesses.

Solopreneurs may prefer Lili and its extra tools for freelancers. Business owners who want saving and checking will enjoy the great rates and low fees at Small Business Bank. LendingClub gets you a full-service bank with all the upsides to online banking. And NBKC offers a great way to keep your personal and business finances in one financial institution.

Once you have a business bank account, consider applying for one of the best small-business credit cards to go with it.

To find the best business accounts for LLCs, we analyzed several dozen banks. We looked at factors like checking fees, account options, customer ratings, and more. Then we used those factors to score and rank the very best options.