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Freelancer LLC / single-member LLC

An LLC needs an account in the company's name. Banks and fintechs usually ask for formation documents and an EIN, and may ask about each owner. Document requirements on this site stay blank until we copy them from the provider.

Editor's choice

Business

Our pick when you are opening a new business account. Relay is not a bank. Thread Bank provides the banking services.

Editor's choice

Relay Business Checking

Relay Financial

Fintech (banking by Thread Bank, N.A., Member FDIC)

Monthly fee
$0Starter plan. Grow is $30 a month. Scale is listed at $90 a month, discounted from $120 for a limited time.as of Oct 30, 2026 source
APY
1.19%Savings APY on Starter, as of Sep 17, 2026. Grow savings APY is 1.87%. Scale savings APY is 3.21%. Rates are variable.as of Oct 30, 2026 source
Sign-up bonus
Noneas of Oct 30, 2026 source
Min. deposit
$0as of Oct 30, 2026 source
  • No minimum balance
  • 20 checking accounts on Starter
  • Savings APY from 1.19%
Open account for Relay Business Checking, opens in a new tabRead review of Relay Business Checking

What matters for you

  • No monthly fee
  • EIN onboarding
  • Separate tax money

Accounts to compare

Listed alphabetically. This is not a ranking. The editor's choice above is our recommendation for opening a new account. Fees, rates, and bonuses are copied from each provider's site and dated. How we review

  • Best for Interest on business checking

    Bluevine Business Checking

    Bluevine

    Fintech (banking by Coastal Community Bank, Member FDIC)

    Monthly fee
    $0Standard plan. Plus is $30 a month and Premier is $95 a month. Bluevine says those paid-plan fees can be waived.as of Oct 30, 2026 source
    APY
    1.3%Standard plan, on balances up to $250,000, if you spend $500 on the debit card or receive $2,500 in customer payments that month. Plus is 1.75% up to $250,000. Premier is 3.0% on all balances.as of Oct 30, 2026 source
    Sign-up bonus
    Noneas of Oct 30, 2026 source
    Min. deposit
    $0as of Oct 30, 2026 source
    • No monthly fee on Standard
    • Up to 3.0% APY on Premier
    • FDIC coverage up to $3 million
    Open account for Bluevine Business Checking, opens in a new tabRead review of Bluevine Business Checking
  • Best for Branch access for a small business

    Chase Business Complete Banking

    JPMorgan Chase Bank, N.A.

    Bank

    Monthly fee
    $15$0 with a $2,000 minimum daily ending balance, or $2,000 in eligible Chase Payment Solutions deposits, or $2,000 in eligible Ink or Sapphire Reserve for Business purchases, or a linked qualifying personal checking account, or military banking.as of Oct 30, 2026 source
    APY
    Not listedas of Oct 30, 2026 source
    Sign-up bonus
    NoneA bonus page on Chase's site listed an offer that ended Oct 15, 2026. The checking page does not list a current bonus.as of Oct 30, 2026 source
    Min. deposit
    Not listedas of Oct 30, 2026 source
    • $15 monthly fee, or $0 if you qualify
    • Mobile card acceptance
    • 20 paper and teller transactions included
    Open account for Chase Business Complete Banking, opens in a new tabRead review of Chase Business Complete Banking
  • Best for Startups that want free wires

    Mercury Business Checking

    Mercury

    Fintech (banking by Choice Financial Group and Column N.A., Members FDIC)

    Monthly fee
    $0Base Mercury plan. No minimum balance. Mercury Plus is $29.90 a month. Paid workflow plans start at $35 a month.as of Oct 30, 2026 source
    APY
    0.00%Checking APY in the Column N.A. agreement. Savings APY there is also 0.00%. Treasury can pay up to 4.09% and is an investment, not this checking account. It requires a $250,000 Mercury balance.as of Oct 30, 2026 source
    Sign-up bonus
    Noneas of Oct 30, 2026 source
    Min. deposit
    $0as of Oct 30, 2026 source
    • No monthly fee
    • Free ACH and domestic wires
    • No minimum balance
    Open account for Mercury Business Checking, opens in a new tabRead review of Mercury Business Checking
  • Best for A new business that uses branches

    Wells Fargo Initiate Business Checking

    Wells Fargo Bank, N.A.

    Bank

    Monthly fee
    $15$0 with a $2,000 minimum daily balance, a $5,000 average combined business deposit balance, or a Premier, Private Bank, or Private Bank Interest Checking account.as of Oct 30, 2026 source
    APY
    Not listedas of Oct 30, 2026 source
    Sign-up bonus
    Noneas of Oct 30, 2026 source
    Min. deposit
    $25as of Oct 30, 2026 source
    • $15 monthly fee, or $0 if you qualify
    • $25 to open
    • First $5,000 of cash deposits has no processing fee
    Open account for Wells Fargo Initiate Business Checking, opens in a new tabRead review of Wells Fargo Initiate Business Checking

How to choose

  • Have your EIN and formation documents ready before you apply.
  • Ask whether a single-member LLC can open online or must visit a branch.
  • Look for a way to set money aside for taxes. A sub-account is useful only if the provider actually offers one.

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