Banking
Business banking for LLCs
A separate business account is one of the main ways to protect the liability shield your LLC gives you, and it makes taxes simpler. Our guides compare business accounts on the fees you would actually pay and explain what you need to open one, including from outside the US.
Where to start
Get your EIN first; every bank asks for it. Then choose an account by how money moves through your business. If clients pay you by wire or you live outside the US, look at wire fees and whether the bank accepts non-resident owners. If you take cash, check deposit limits and fees. If you keep a balance, compare interest. Most online accounts now charge $0 a month, so the fees that matter are the ones on the services you will use.
Accounts we compare
Mercury
$0/mo
- $0 monthly fee, no minimum balance, no opening fees
- Free ACH and free domestic wires, sent and received
- Free outgoing USD international wires
Watch out: No cash deposits
Relay
$0/mo (Grow $30, Scale $120)
- $0 Starter plan with no minimum balance
- Up to 20 checking accounts on Starter (Profit First friendly)
- Cash deposits at Allpoint+ ATMs and Green Dot retailers
Watch out: Wire and same-day ACH fees on Starter
Bluevine
$0/mo (Plus $30, Premier $95)
- Interest on checking: 1.3% APY on Standard (with $500 card spend or $2,500 in customer payments a month)
- $0 Standard plan, no minimum balance
- 37,000+ fee-free MoneyPass ATMs
Watch out: Outgoing domestic wires cost $15 on Standard
Lili
$0/mo (Pro $15, Smart $35, Premium $55)
- No SSN required — open with a foreign passport and EIN
- Supported countries include much of Latin America
- $0 Core plan with no minimum deposit
Watch out: International wires cost $25 out / $15 in
Found
$0/mo (Plus $35, Pro $80)
- Automatic tax set-aside and tax estimates
- Free invoicing and 1099-NEC e-filing
- Cash deposits at 79,000+ retail locations
Watch out: Requires an SSN — not for non-US founders
Wise Business
$31 one-time
- Account details in 22 currencies for one $31 set-up fee
- Free to receive USD ACH payments
- Currency conversion from 0.23%
Watch out: Not an FDIC-insured bank
Rates, fees and eligibility change often. Figures come from each provider’s own site on the date shown; confirm before opening an account. Fintechs are not banks — deposits are held at partner banks, Member FDIC. Verified October 18, 2026. We may earn a commission if you sign up through our links, at no cost to you. How we’re funded.
Frequently asked questions
What do I need to open a business bank account for an LLC?
Usually your EIN, the filed Articles of Organization, an ID for each owner with 25% or more, and sometimes the operating agreement.
Which business bank account is best for an LLC?
It depends on how you get paid: Mercury for free wires and non-US founders, Relay for multiple accounts and cash, Bluevine for interest on checking, Lili for Latin American owners without an SSN. Full comparison.
Can a non-US resident open an LLC bank account?
Yes, with fintechs such as Mercury, Relay and Lili; Bluevine accepts residents of 25 countries. See who accepts you.
Are online business bank accounts safe?
Deposits are held at partner banks that are FDIC members; several use sweep networks for coverage of $3M–$5M.