7 Best Business Bank Accounts for Freelancers in the USA (2026)

Mixing client payments with grocery spending makes tax season harder. A separate account fixes that. But the right account depends on how you get paid, where you live, and how much cash you keep on hand.

This guide from USABusinessDaily covers the best business bank accounts for freelancers USA readers can compare in minutes. It uses fee schedules and pricing pages checked on October 19, 2026. If you are new to self-employment, read how to start a freelance business in the USA first. 

What Is the Best Business Bank Account for Freelancers?

The best business bank accounts for freelancers USA depend on how you earn. Found suits solo freelancers who want tax and invoicing tools. Bluevine pays interest, Relay splits money into buckets, and Novo keeps fees at zero. Chase offers branches and cash deposits. Wise handles foreign currency.

Mercury is a strong account, but only for freelancers who operate through an LLC or corporation.

Comparison Table: Fees, Features, and Eligibility

Account	Monthly fee	APY and conditions	Cash deposits	Sole proprietors	Deposit protection
Found	$0 free plan; Plus $35; Pro $80	1.50% up to $20,000 (Plus); 2.50% uncapped (Pro)	Not a focus; app-based	Yes, one-person businesses only	Partner banks (Piermont, Lead Bank)
Bluevine	$0 Standard; Plus $30; Premier $95	1.3% (activity test); 1.75%; 3.0%	Limited	Reported yes; confirm at signup	Coastal Community Bank; sweep up to $3M
Relay	$0 Starter; Grow $30; Scale $90 promo	0% checking; savings from 1.11%	Limited	Confirm at signup	Thread Bank; sweep up to $3M
Novo	$0	0%	No	Yes	Middlesex Federal Savings
Chase Business Complete	$15, waivable	0% on checking	Yes, $5,000 per cycle free	Check Chase’s checklist	Direct at JPMorgan Chase
Mercury	$0	See Mercury’s site	No	No	Partner banks
Wise Business	$31 one-time setup	Opt-in interest on USD	No	Varies by country	Pass-through via program bank

Compare account options on the official pages: Bluevine plans, Relay plans, Found pricing, Novo, Chase, Mercury, and Wise Business.

Detailed Reviews of the Best Freelancer Business Accounts

1. Found: Best for Solo Freelancers Who Want Tax Tools

Found is a fintech company, not a bank. Its banking services come from partner banks, including Piermont Bank, Member FDIC. The free plan has no required monthly fee and includes unlimited invoicing, contractor payments, and 1099 filing.

Paid plans add interest. Plus costs $35 monthly or $315 yearly and earns 1.50% APY on up to $20,000. Pro costs $80 monthly or $720 yearly and earns 2.50% on the full balance.

Watch out: Found accepts one-person businesses only, so partners are not allowed. Instant transfers carry a 1.75% fee. Also, one Found page still lists Plus at $19.99, while its value page and fee schedule say $35. Confirm the price before you subscribe.

2. Bluevine: Best for Earning Interest on Checking

Bluevine is a fintech platform. Deposits sit at Coastal Community Bank, with an optional sweep for FDIC coverage up to $3 million.

Standard costs $0 and earns 1.3% APY on up to $250,000. Plus costs $30 and earns 1.75%. Premier costs $95 and earns 3.0% on all balances. To waive Plus, keep a $20,000 average balance and spend $2,000 on the Bluevine debit card. Premier needs $100,000 and $5,000.

Watch out: Standard earns interest only in months you meet an eligibility requirement. Miss it, and that month’s interest is zero. Bluevine is also weak for cash deposits.

3. Relay: Best for Separating Taxes and Expenses

Relay suits freelancers who like “buckets.” The free Starter plan allows up to 20 checking accounts and two savings accounts. You can park tax money in one account and operating cash in another.

Checking earns no interest. Savings pays 1.11% on Starter, as of May 1, 2026. Deposits sit at Thread Bank, Member FDIC. Relay itself is not an FDIC-insured bank.

Watch out: Wires cost money. Relay’s August 2026 table lists a $5 incoming domestic wire and an $8 outgoing wire on Starter. Paid plans lower those fees. Check Relay’s pricing page before you rely on any figure.

4. Novo: Best for Low Fees and Integrations

Novo is a single-tier account with a short fee list. Its February 2026 schedule shows $0 monthly, free standard ACH, and free incoming wires. Deposits sit at Middlesex Federal Savings, F.A.

It plays well with Stripe, Shopify, and invoicing tools. For help choosing tools, see our guide to best invoicing tools for freelancers.

Watch out: Checking earns 0%, and the account takes no cash deposits. One review also reports that only US residents qualify. Confirm that on Novo’s site.

5. Chase Business Complete Banking: Best for Branches and Cash

Chase is a traditional bank, so FDIC coverage applies directly. The fee is $15 monthly. You waive it with a $2,000 minimum daily balance, Chase QuickAccept deposits, or Chase business card purchases.

Chase allows $5,000 in cash deposits per statement cycle without a fee. Above that limit, a per-deposit charge applies. Chase ATM cash deposits carry no Chase fee.

Watch out: Checking earns no interest. Freelancers with irregular income may miss the $2,000 balance and pay $180 a year.

6. Mercury: Best for Freelancers With an LLC

Mercury is a fintech company. Its banking services come from partner banks that are Members FDIC. It charges no monthly fees and offers free USD wires.

Watch out: Mercury does not open accounts for sole proprietors, and it takes no cash deposits. It needs a US LLC, corporation, or partnership with an EIN. Learn the steps in how to start an LLC in the USA. Costs vary by state, as covered in how much does an LLC cost in 2026.

7. Wise Business: Best for International Clients

Wise is not a bank. The business account has a one-time $31 setup fee and charges a fixed $6.11 to receive a domestic wire. That is useful if you invoice in several currencies.

Watch out: Wise customer funds are not directly FDIC-insured, though pass-through coverage applies in some cases. That coverage applies to USD balances when you opt into the interest feature. Read the program terms before you hold large balances.

How to Choose a Business Bank Account as a Freelancer

Start with how you get paid, then check what each account charges for that. These matches work for most readers:

• New freelancers: Choose Found, Relay Starter, or Novo. All three avoid required monthly fees.
• Freelancers with spare cash: Choose Bluevine. Interest only matters when you hold a balance.
• Cash-heavy contractors: Choose Chase. You need branches and cash deposits.
• LLC owners: Add Mercury to your shortlist.
• Global earners: Choose Wise for multi-currency payments.

Three Hypothetical Freelancers

These are illustrations, not industry statistics. Interest is simple annual interest and ignores compounding.

Beginner earning $1,500 a month, about $1,000 average balance. Found, Relay Starter, and Novo cost $0 in monthly fees. Chase costs $180 a year unless you reach the $2,000 balance.

Established freelancer earning $5,000 a month, $15,000 average balance. Bluevine Standard costs $0 and could earn about $195 if the activity test is met each month. Found Plus could earn $225 but costs $315 a year, for a net loss of $90. Chase costs $0 here and earns nothing.

Global freelancer receiving 12 USD wires a year through Wise. Year one costs $31 plus 12 × $6.11, which is $104.32. Wise says traditional banks often charge 15–30 per incoming wire, or 180–360 for 12. That comparison comes from Wise, so check your own bank’s fees.

Are Free Business Bank Accounts Really Free?

Mostly, yes. But the “free” label hides conditions.

• APY conditions: Rates often need activity tests, paid plans, or balance caps.
• Wire fees: Relay and Found charge for some wires.
• Cash deposits: Several online accounts take none. Chase charges above $5,000 a cycle.
• Paid plans: Found Plus costs $315 a year. Interest rarely covers that on small balances.

Use this formula to compare accounts: annual cost = (monthly fee × 12) + wire fees + cash deposit fees − interest earned. Run it for each finalist.

Quick math: at 1.30% APY, a steady $10,000 balance earns about $130 a year before taxes. Rates change, so check the current one.

What Do Freelancers Need to Open a Business Bank Account?

Providers set their own rules. Most ask for the following:

1. Government-issued photo ID
2. Social Security number, or an EIN if you have one
3. Business name and address
4. Formation documents, if you operate as an LLC
5. A description of your freelance work

Can You Open a Business Account Without an LLC?

Yes, with some providers. Found, Novo, and Bluevine are reported to accept sole proprietors. Mercury does not. Check each provider’s current requirements during signup.

Can a Non-US Resident Open a US Business Account?

Not automatically. Having US clients does not make you eligible. Mercury accepts founders abroad, but only with a US entity, and some countries are excluded. Novo reportedly serves US residents only. Wise may suit you better.

Best Banking Options for Freelancers With International Clients

Foreign clients create two costs: wire fees and currency conversion. A US bank may charge both. A multi-currency service may cut them.

Wise gives you account details in several currencies. That lets clients pay you locally. A traditional bank account is still better for large USD deposits and FDIC protection.

Compare three items before you choose:

1. Incoming wire fees
2. Currency conversion rates
3. Whether your country is supported

Is Your Money Protected? FDIC Insurance Explained

FDIC insurance covers deposits when an insured bank fails. Coverage is generally $250,000 per depositor, per insured bank, per ownership category. Verify any bank in the FDIC’s BankFind tool.

Fintech companies are different. Non-bank companies are never FDIC-insured themselves. Funds are insured only after the company deposits them in an insured bank. Found, Bluevine, Relay, Novo, and Mercury all use partner banks. Wise does too, under its own program terms.

Before you deposit large sums, read the provider’s deposit disclosure. Also, FDIC insurance does not protect you from a fintech company’s own insolvency. Read the FDIC’s guidance on fintech apps.

How Freelancers Can Manage Taxes and Business Expenses

Freelancers are not universally required to hold a separate account. Still, IRS Publication 583 recommends keeping business checking separate from personal checking. Clean records make deductions easier to support. For a deeper guide, read how to separate business and personal finances.

A simple money flow works well:

1. Client payment lands in business checking.
2. Move a tax share into a reserve account.
3. Pay business expenses from checking.
4. Transfer your owner pay to personal checking.

Ask a CPA to set your tax share. Self-employed workers generally pay estimated taxes quarterly. See the IRS small business and self-employed resources. Pair your account with the right software, such as the options in best accounting software for freelancers.

Relay’s buckets and Found’s built-in tax estimates fit this workflow best. This article is general education, not tax or legal advice.

How We Evaluated These Accounts

We reviewed official pricing pages, fee schedules, and account terms on October 19, 2026. We did not open accounts or speak with bank staff. We scored accounts on cost, features, eligibility, payment options, tax tools, and transparency. We excluded accounts we could not verify. Corrections: [your editorial email]. We review fees and rates monthly.

Frequently Asked Questions

What is the best business bank account for freelancers in the USA? There is no single winner. Found suits solo freelancers, Bluevine suits those earning interest, and Chase suits cash users. Match the account to how you get paid.

Which business bank accounts have no monthly fees? Found’s free plan, Relay Starter, Novo, Bluevine Standard, and Mercury charge no required monthly fee. Chase charges $15 unless you meet a waiver.

Can I use a personal account for freelance income? Often yes, but it complicates records. IRS guidance favors separate accounts. Mixed transactions make deductions harder to prove.

Which accounts offer interest? Bluevine pays interest on checking. Found Plus and Pro do too. Relay pays interest on savings. Conditions apply to each.

Can I open a business account online? Yes. Found, Bluevine, Relay, Novo, Mercury, and Wise are online-first. Chase also allows online applications.

Is a fintech business account FDIC-insured? The fintech itself is not. Deposits at its partner bank may qualify for pass-through coverage. Read the account disclosures.

Which account is best for international freelancers? It depends on your countries and currencies. Wise often fits multi-currency needs. Mercury works if you have a US entity.

Should freelancers keep a separate tax account? Many do, because it prevents spending tax money. Relay and Found make this easy.

Final Verdict

The best choice is the account you can open and afford to keep. New solo freelancers should start with Found, Relay Starter, or Novo, since none requires a monthly fee. If you hold larger balances, compare Bluevine’s interest tiers. If you deposit cash, Chase is the practical pick. LLC owners can add Mercury, and international earners should look at Wise. Before you apply, check each provider’s official page, because fees and rates change often. For more best business bank accounts for freelancers USA advice, read our guides on how to separate business and personal finances and best accounting software for freelancers at USABusinessDaily.