Best Business Bank Accounts for LLCs 2022

We dug into dozens of banks for business to find the best checking accounts for LLC businesses.
Best overall
BlueVine
BlueVine
4.2 out of 5 stars
4.2
$0 monthly fee
  • pro
    $0 minimum opening deposit
  • pro
    Interest-bearing checking only
Best for solopreneurs
Lili
Lili
3.8 out of 5 stars
3.8
Starting at $0 monthly fee
  • pro
    $0 minimum opening deposit
  • pro
    Checking & savings
Best for savings
Small Business Bank
Small Business Bank
3.7 out of 5 stars
3.7
$0 monthly fee
  • pro
    $5 minimum opening deposit (for checking)
  • pro
    Checking & savings
Best full-service bank
LendingClub
LendingClub
3.4 out of 5 stars
3.4
$10 monthly fee (waivable)
  • pro
    $100 minimum opening deposit (for checking)
  • pro
    Interest-bearing checking & savings
Best personal accounts
NBKC Bank
NBKC Bank
3.4 out of 5 stars
3.4
Starting at $0 monthly fee
  • pro
    $0 minimum opening deposit (for basic checking)
  • pro
    Basic checking, interest-bearing checking, & savings

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

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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.

Best business bank accounts for LLCs

Compare the best business accounts for LLCs

Bank
Lowest monthly fee
Min. opening deposit
Free transactions per cycle
Get a bank account
$0$0Unlimited
$0$0Unlimited
$0$5Unlimited
$10 (waivable)$100Unlimited
$0$0Unlimited

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

What kind of bank account should I open as an LLC?

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 2022, 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: Best LLC bank account overall

BlueVine
Bluevine

$0 monthly maintenance fee for checking

  • Interest-bearing checking only
  • Online-only bank
  • Available in 50 states

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

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.

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.

Pros
pro Interest-bearing checking
pro Easy cash deposits
pro Free checks
Cons
con No interest on balances over $100,000
con Mixed customer reviews
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Lili: Best for solopreneurs and single-member LLCs

Lili
Lili

$0 or $4.99 monthly maintenance fee for checking

  • Checking and savings
  • Online-only bank
  • Available in 50 states

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

If you’re a freelancer or solopreneur, we highly recommend Lili checking accounts.

Lili tailors its banking experience toward freelancers and single-member LLCs. You can enjoy features like a subaccount for tax money, invoicing software, and expense management tools. In other words, Lili gives you the tools 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 ($4.99) to get Lili’s best features through Lili Pro. So for many businesses, Lili isn’t a completely fee-free bank.

Still, Lili’s freelancing features and other perks make even a paid Lili account a great option.

Pros
pro Tax, invoicing, and other tools for freelancers and solopreneurs
pro Excellent customer reviews
pro Free and upgraded plans
Cons
con Accounts for sole proprietors and single-member LLCs only
con Monthly fee for savings

Small Business Bank: Best for savings

Small Business Bank
Small Business Bank

$0 monthly maintenance fee for checking

  • Checking and high-yield savings
  • Online-only bank
  • Available in 50 states

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

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 0.99% and 3.75% 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.

Pros
pro No-fee high-yield savings
pro Same-day account approval
pro Extended customer support hours
Cons
con Potential overdraft fees
con Outdated website and app

LendingClub: Best full-service bank

LendingClub
LendingClub

$10 monthly maintenance fee for checking (waivable)

  • Interest-bearing checking and savings
  • Online-only bank
  • Available in 50 states

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

Business owners who want more than basic checking and savings for their LLC should check out LendingClub’s full-service banking.

LendingClub has all the perks of an online bank: widespread availability, lower banking fees, and convenient online banking and applications. But LendingClub also has many of the perks of a traditional bank, like extended customer service hours and more product options (including credit cards, loans, and more).

Even LendingClub’s basic business checking account has plenty to offer. Like BlueVine, it lets you earn interest. It also comes with a cashback debit card and ATM fee reimbursement. But LendingClub does charge a monthly fee for its business checking. That fee gets waived as long as your account balance is above $500.

LLC businesses that want the best of online and traditional banking, though, won’t want to miss LendingClub’s full-service banking.

Pros
pro Checking, savings, loans, credit cards, and more
pro Cash back debit card
pro Interest-bearing checking
Cons
con Few customer reviews
con Monthly maintenance fee

NBKC Bank: Best personal accounts

NBKC Bank
NBKC Bank

$0 monthly maintenance fee for checking

  • Checking and savings
  • Online-only bank
  • Available in 50 states

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

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.

Pros
pro Business and personal bank accounts
pro No fees for checking or savings
pro Competitive interest rates
Cons
con Middling customer reviews
con Limited customer support
Get a better business bank account

Want affordable banking with great perks? With BlueVine, you can get a fee-free business checking account―and you can even earn interest on account balances over $1,000.

Honorable mentions

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.

Honorable mention LLC bank accounts

Bank
Lowest monthly fee
Min. opening deposit
Free transactions per cycle
Get a bank account
$5 (waivable)$25200–500
$0$25200–500
$10$25200–500
$10$50Unlimited
$0$50Unlimited

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

KeyBank: Best traditional bank

Key Bank
KeyBank

Starting at $5 monthly fee for checking (waivable with $1,000 average balance)

  • Checking and savings
  • Traditional bank
  • Available in 15 states

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

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.

Citizens Bank: Best customer service

Citizens
Citizens Bank

Starting at $0 monthly fee for checking

  • Checking and savings
  • Traditional bank
  • Available in 14 states

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

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.

TD Bank: Best for certificates of deposit

TD Bank
TD Bank

Starting at $10 monthly fee for checking

  • Checking and savings
  • Traditional bank
  • Available in 15 states

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

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.

NorthOne: Best subaccounts

NorthOne
NorthOne

$10 monthly fee for checking

  • Checking only
  • Online-only bank
  • Available in 50 states

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

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.

Novo: Best integrations and perks

Novo
Novo

$0 monthly fee for checking

  • Checking only
  • Online-only bank
  • Available in 50 states

Data as of 11/9/22. Offers and availability may vary by location and are subject to change.

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.

The takeaway

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.

Related reading

Methodology

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.

LLC bank account FAQ

What are the best business bank accounts for LLC with no fees?

BlueVine, Lili, and Small Business Bank are the best business bank accounts for LLCs with no fees. You can find more recommendations on our rankings of the best free business checking accounts.

How do I set up a business bank account for my LLC?

To set up a business bank account for your LLC, make sure you have your EIN (if applicable) and SSN. Then submit an application through the website of your preferred bank.

For more details on getting a bank account for your LLC, we have a guide on how to open a business bank account.

Can I use a regular bank account for my LLC?

You can use a regular bank account for your LLC, but we don’t recommend it. Having a business-specific bank account reduces your personal liability, increases your business’ legitimacy, and makes accounting easier.

In most cases, you should have a business bank account―even if you don’t technically need one.

How many bank accounts should an LLC have?

Most LLCs need only one bank account (a basic checking account) to get by. Some LLCs can benefit from having an additional savings account, though.

If you maintain a high account balance (over $250,000), you may want to spread money across multiple bank accounts to make sure it all stays FDIC-insured.

Chloe Goodshore
Written by
Chloe Goodshore
Chloe covers business financing and loans for Business.org. She has worked with many small businesses over the past 10 years, from video game stores to law firms. Those years watching frustrated business owners try to sift through their many options gave her a passion for breaking down complex business topics. She wants to help business owners spend less time agonizing over their businesses so they can spend more time running them.
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