Best Business Bank Accounts

For any entrepreneur, having a dedicated business bank account is crucial for separating personal and business finances, maintaining professionalism, and simplifying tax preparation.

However, with the number of options available — and the wide range of differing fees, features, and requirements of each provider — it can be tricky to figure out which business bank account is the right one for you.

To help you make an informed decision, we’ve analyzed and compared the best business bank accounts so that you can quickly identify the top pick for your particular needs.

The 6 Best Business Bank Accounts of 2026

In the table below, you’ll find a summary of our top five recommended business bank accounts, as well as the key features of each one.

Best Business Bank Accounts	Key Features
Mercury 4.8/5	Top Recommended Service Free domestic and international wire transfers No overdraft or monthly fees FDIC-protected balances of to $5 million Visit Site
Lili 4.6/5	Zero account fees and no minimum balance requirements Get paid up to two days early Professional invoicing directly from the app Visit Site
Baseland 4.4/5	FDIC protection up to $3 million High-yield savings with up to 3.35% APY Visit Site
American Express 4.1/5	Earn Membership Rewards on debit purchases Competitive APY with no minimum balance Visit Site
Relay 3.8/5	Manage up to 20 accounts under one dashboard Built-in integration with popular accounting software Visit Site
Chase 3.6/5	24/7 customer support Robust security features and fraud monitoring Visit Site

1. Mercury: Best Overall

Mercury stands out as the top recommendation in our rankings for its combination of modern banking technology and business-oriented features.

With its focus on startups, tech companies, and digital businesses, Mercury has redefined what businesses should expect from their banking service due to its sophisticated financial tools and seamless software integrations.

Key Features

• Comprehensive Financial Dashboard: To make it easy to track your cash flow and expenses, Mercury’s dashboard offers real-time visibility into all your accounts, transactions, and financial metrics
• Access to Venture Debt: Mercury offers specialized venture debt financing made specifically for high-growth startups that comes with simple payback plans and competitive interest rates
• Treasury Management Solutions: Through Mercury Treasury, businesses can access high-yield investment options offering interest rates of up to 4.64% APY
• Advanced Team Management: Mercury lets you create unique permissions for each team member and issue unlimited virtual cards debit with custom spending limits
• Built-in Compliance Tools: Mercury simplifies tax preparation by automatically generating detailed transaction records and providing built-in expense categorization

Pros and Cons

Pricing Overview

Mercury gives its users the choice between three key plans:

• Mercury ($0): This foundational plan delivers essential business banking features, including FDIC-insured accounts with potential yields up to 4.64%, unlimited bill payments, basic invoice generation capabilities, and reimbursement management for up to five users monthly.
• Mercury Plus ($35): This enhanced tier builds upon the Standard plan by expanding invoicing capabilities to include recurring and branded invoices, while significantly increasing reimbursement capacity to up to 20 users per month (with additional users available at $5 each).
• Mercury Pro ($350): Mercury’s highest tier delivers its most advanced features, including reimbursement management for up to 250 users, enhanced accounting integrations (including NetSuite support), and access to a dedicated relationship manager.

All of Mercury’s account plans also come with corporate debit and credit cards, complete wire and ACH functionality, and integration with popular accounting platforms like QuickBooks and Xero.

**Mercury is a financial technology company, not a bank. Business banking services are provided by Choice Financial Group and Evolve Bank & Trust, Members FDIC.

2. Lili: Best for Solo Entrepreneurs

Lili combines digital banking services with comprehensive tax and expense management tools to create an all-in-one financial platform that’s ideal for small business owners and self-employed individuals.

We particularly appreciated Lili’s unique approach to solving the common challenges freelancers face — such as tax preparation to expense tracking — while maintaining the simplicity of a personal digital banking app.

This makes it an ideal solution for solo entrepreneurs who want to professionalize their finances without dealing with complex business banking requirements.

Key Features

• Early Payment Processing: The platform accelerates access to funds from major platforms like Uber, Lyft, and Shopify, allowing you to get paid up to two days early
• Enhanced Banking Security: Lili prioritizes account security with FDIC insurance, real-time transaction notifications, and the ability to instantly freeze and unfreeze cards through their app
• Integrated Tax Management: Lili’s platform automatically categorizes expenses, sets aside the correct amount for tax payments, and also pre-fills Schedule C forms for you
• Visa Debit Card Benefits: Every account includes a Visa business debit card with built-in purchase protection, no liability for unauthorized charges, and access to over 38,000 fee-free ATMs
• Competitive Savings Rates: Lili business accounts let you boost your savings with access to a high-yield savings account that earns an impressive 3.65% APY on balances up to $100,000

Pros and Cons

Pricing Overview

With Lili, customers are able to choose between four distinct account plans:

• Lili Basic ($0): This entry-level plan offers access to all of Lili’s key features, including a standard business checking account, basic Visa debit card, and free ATM access at more than 38,000 locations
• Lili Pro ($9): This enhanced plan combines core banking with money management tools, offering cashback rewards, automated expense categorization, comprehensive reporting tools, overdraft protection up to $200, and a competitive 3.65% APY on savings
• Lili Smart ($21): This comprehensive plan integrates full-service banking with business management tools — including AI-powered bookkeeping automation, dedicated tax preparation features, and customizable business reports plus profit and loss statements
• Lili Premium ($33): This tier delivers Lili’s most advanced features, including priority support with a dedicated account specialist, a metal Visa debit card with enhanced rewards, and access to all banking, accounting, and tax preparation tools from lower tiers

Recommended Service: Lili stands out as an excellent alternative for entrepreneurs and freelancers, offering a straightforward digital banking experience with built-in tax tools and expense management features — plus no monthly fees or minimum balance requirements.

Get Started with Lili ($0+)

*Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC.

3. Baselane: Best for Real Estate Investors

Baselane redefines banking services for real estate investors by combining property-specific financial tools with more traditional services.

Their platform offers a unique approach to handling rental property finances, making it especially valuable for landlords who want to simplify their property management and banking needs with a single platform.

Key Features

• Property-Focused Banking Structure: Baselane’s platform provides specialized virtual accounts for each property in your portfolio, enabling precise tracking of income and expenses per location
• High-Yield Business Accounts: The platform offers tiered interest rates up to 3.35% APY on balances, with an additional 0.50% if you make use of their rent collection services
• Specialized Lending Integration: Baselane connects real estate investors with property-specific financing options through their lending marketplace, where you can obtain loans based on your portfolio performance rather than income requirements
• Automated Rent Collection System: This platform allows you to set up automated rent collection in less than two minutes, so that you’ll receive this income from tenants without any hassle

Pros and Cons

Pricing Overview

Baselane takes a straightforward approach to pricing, offering only one account option. In fact you can open a bank account with Baselane for free and begin taking advantage of its benefits in less than three minutes.

However, the platform does offer tiered interest rates based on the size of your account balance, including interest rates of up to:

• 1.56% APY on balances under $10,000
• 2.35% APY on balances between $10,000 and $24,999
• 2.72% APY on balances between $25,000 and $49,999
• 3.35% APY on balances over $50,000

Unless you’re already operating with the highest interest rate of 3.35%, you can also obtain a bonus rate of 0.50% APY on top of your base rate if you make use of Baselane’s rent collection service.

Recommended Service: Baselane is the ideal solution for real estate investors who want to streamline their finances with a single platform for both their property management and banking needs.

Get Started with Baselane ($0+)

4. American Express: Best for Rewards

By integrating their renowned Membership Rewards program with everyday banking activities, American Express has created a unique value proposition for businesses that invest in their ecosystem.

For businesses with significant operating capital, Amex’s checking accounts will be particularly appealing due to their combination of high-yield interest rates and the ability to earn points with purchases.

Key Features

• Easy Access to Working Capital: Businesses gain streamlined access to various funding options through Amex credit, making it easier to support daily operations and invest in growth
• Membership Rewards Integration: Amex’s business checking accounts seamlessly integrate with their rewards program, meaning you can earn points for debit card purchases and business activities
• High-Yield Interest Rates: The account offers a competitive 1.30% APY on balances up to $500,000, with no tiering or minimum balance requirements to earn this rate
• Digital Receipt Management: Their advanced mobile app includes built-in receipt capture and management tools that automatically match receipts to transactions and store them digitally

Pros and Cons

Pricing Overview

American Express offers a single business checking account type, which combines traditional banking features with rewards integration and a competitive 1.00% APY on all balances with no tiered requirements.

Standard transfers and payments include modest fees for specific services, such as domestic wire transfers ($20), international wire transfers ($40), and stop payments ($30), while maintaining free ACH transfers and standard debit transactions.

Recommended Service: American Express’s Business Checking account is another stand out option due to the integration of its Membership Rewards and competitive APY.

Get Started with American Express ($0+)

5. Relay: Best for Multi-Account Management

Compared to the other entrants on this list, Relay stands out for its impressive support of multiple bank accounts under a single account number.

This simplicity is especially valuable for businesses with more complex cash management needs as it allows them to quickly and easily organize their funds without multiple account numbers.

Key Features

• Multiple Account Support: Relay lets you create up to 20 checking accounts under a single account number — making it simple to segregate funds for different purposes (like taxes, payroll, or specific projects) while keeping them all in one place
• Bookkeeping Integration Suite: By connecting directly with popular accounting programs like QuickBooks and Xero with real-time synchronization, Relay makes it quicker and easier to handle your taxes while reducing the risk of errors
• Smart Cash Flow Planning: Relay’s built-in cash flow forecasting tools analyze your business’s historical data and upcoming costs to provide accurate projections on its future cash availability
• Advanced Spending Controls: Take better control of your business’s spending with the ability to issue up to 50 debit cards that can be customized with individual limits for each team member

Pros and Cons

Pricing Overview

Relay breaks down all of the features it offers into two key plans for you to choose from:

• Relay ($0): This foundational plan offers comprehensive business banking essentials, including up to 20 checking accounts and two savings accounts with no minimum balances, physical and virtual cards, standard ACH transfers with 1-2 day processing, and basic wire transfer capabilities
• Relay Pro ($30): This advanced plan offers enhanced banking services, with features like same-day ACH processing, unlimited free domestic and international wire transfers, and consolidated vendor payment tools

Both of these plans also come with fee-free withdrawals at Allpoint ATMs, flexible cash deposit options, and integration with QuickBooks and Xero.

Recommended Service: American Express’s Business Checking account is another stand out option due to the integration of its Membership Rewards and competitive APY.

Get Started with Relay ($0+)

*Relay is a financial technology company, not a bank. Relay deposits are insured for up to $250,000 per user through Evolve Bank & Trust, member FDIC.

6. Chase: Best for Traditional Banking

While many digital-first competitors focus solely on online services, Chase’s extensive physical presence combined with their robust digital platform offers a comprehensive banking solution.

We feel that this hybrid approach makes it particularly well-suited for businesses that value face-to-face banking services while still needing strong digital capabilities.

Key Features

• Extensive Physical Network: With over 4,700 branches and 16,000 ATMs nationwide, Chase provides unmatched accessibility for businesses that need in-person banking services
• Same-Day Deposits: Through Chase QuickAccept, businesses can process card payments and have funds available in their account the same day, which eliminates the typical multi-day wait for payment processing
• Comprehensive Security Features: As a major national bank, Chase provides enterprise-level security features including fraud monitoring, secure wire transfers, customizable alerts, and FDIC protection on balances of $250,000 or less
• Multiple Account Types: Chase provides a variety of business checking account options — each tailored to meet the diverse needs of businesses — so that you can find the perfect fit for your financial situation

Pros and Cons

Pricing Overview

Chase offers a single account type for business that costs $15 per month.

With this account, your business can make monthly cash deposits of up to $5,000 for free, but will need to pay a $2.50 fee for each additional $1,000 after this.

They also charge relatively standard transfer fees, ranging from $15 for incoming to between $25 and $40 for outgoing transfers, and ACH transfers being free of charge.

While Chase’s business banking account requires a monthly fee, this can be waived if you meet one of the following criteria:

• Maintain a $2,000 minimum daily balance
• Complete $2,000 in purchases using Chase business cards
• Process $2,000 in deposits through Chase payment solutions
• Link to a qualifying Chase Private Client Checking account

Recommended Service: If you’re interested in a more “traditional” banking option, Chase is likely going to be the right pick for your small business as it comes with a small monthly fee, 24/7 customer support, and over 4,700 branches. 

Get Started with Chase  ($15+)

Best Business Bank Accounts FAQs

What bank is best to open a business account?

The best bank for your business will depend on your specific needs. While we typically recommend Mercury as the best overall option for digital businesses, you may prefer Chase if you really value in-person banking.

Alternatively, Relay might be a better choice if your business has particularly complex cash flow needs due to its multi-account management capabilities.

Which type of bank account is best for small business?

A dedicated business checking account is the best option for small businesses — not only does it keep personal and business finances separate for liability purposes, it simplifies tax preparation and can offer a host of other benefits — such as automatic invoicing, cash flow tracking, and access to expense management tools.

Are business bank accounts free?

While some business bank accounts charge monthly fees, these are usually optional and can even sometimes be waived by meeting certain criteria.

Most providers, like Mercury and Lili, offer free options, making them ideal for small businesses and startups looking to minimize costs.

Can I open a bank account with just an LLC?

No, you won’t be able to open a dedicated bank account for your business without first obtaining an Employer Identification Number (EIN), regardless of whether or not you’ve formed an LLC.

With that being said, you’ll also likely need your LLC formation documents and a valid form of ID on-hand to meet the bank’s requirements for setting up the account.