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Best accounts by need
- Best overall and for non-US founders: Mercury — $0/month, free domestic and USD international wires.
- Best for budgeting and cash deposits: Relay — up to 20 checking accounts, free Allpoint ATMs.
- Best for interest on checking: Bluevine — 1.3% APY up to $250K with light monthly activity.
- Best for Latin American owners: Lili — opens with a passport and EIN, no SSN.
- Best for US freelancers: Found — automatic tax set-aside and free 1099 filing.
- Best second account for foreign currency: Wise Business — 22 currencies for a $31 one-time fee.
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
Side-by-side comparison
Facts from each provider’s own pricing and FAQ pages, verified October 18, 2026. “Non-US owners” means owners who live outside the US and have no Social Security number.
| Provider | Monthly fee | Interest | ATMs & cash | Wires | FDIC coverage | Non-US owners | Link |
|---|---|---|---|---|---|---|---|
| MercuryFree wires · non-US founders · startups | $0 | No checking APY (Treasury up to 4.05% with $250K+, investment risk) | No Mercury ATM fee; no cash deposits | Free domestic wires and free USD international wires | Up to $5M via partner-bank sweep (Choice Financial Group, Column N.A.) | Yes — US-formed companies with US operations; some countries excluded | Visit Mercury |
| RelayProfit First · up to 20 accounts · cash deposits | $0 Starter · $30 Grow · $120 Scale | Savings 1.19% (Starter) to 3.21% APY (Scale) | Free at 55,000+ Allpoint ATMs; cash deposits free at Allpoint+ ATMs or up to $4.95 at Green Dot retailers | Fees apply; lower on paid plans | Up to $3M via Thread Bank sweep | Owners from 200+ countries if the business operates in the US | Visit Relay |
| BluevineInterest on checking · credit line | $0 Standard · $30 Plus · $95 Premier (waivable) | 1.3% APY up to $250K on Standard with monthly activity; up to 3.0% on Premier | 37,000+ MoneyPass ATMs free; $2.50 out of network | Incoming domestic free; outgoing domestic $15 (Standard) | Up to $3M via Coastal Community Bank and program banks | Residents of 25 supported countries; no SSN required | Visit Bluevine |
| LiliNon-US owners incl. Latin America · savings APY | $0 Core · $15 Pro · $35 Smart · $55 Premium | Savings 2.25% APY up to $500K (variable) | No fee at in-network ATMs | International: $25 out, $15 in (LLCs and corporations) | Up to $3M via Sunrise Banks sweep network | Yes — passport + EIN, no SSN; supported countries include Mexico, Colombia, Argentina, Chile, Peru | Visit Lili |
| FoundFreelancers · built-in tax tools | $0 · Plus $35 · Pro $80 | Plus 1.50% (up to $20K) · Pro 2.50% | No Found ATM fee; cash deposits at 79,000+ retailers ($2) | Incoming domestic free; outgoing $15 ($10 on Pro) | $250,000 via Lead Bank | No — US-based businesses with an SSN only | Visit Found |
| NovoSimple free account for US-based owners | $0 | Not offered | Third-party ATM fees refunded up to $7/mo; cash only via money order | Receiving wires free; outgoing fees shown in app | $250,000 via Middlesex Federal Savings | No — owners must live in the US and have an SSN | Visit Novo |
| Wise BusinessMulti-currency · getting paid from abroad | No monthly fee; $31 one-time for account details | 3.4% variable on USD (opt-in Interest) | Free ATM withdrawals up to $250/month | Receive USD wires $6.11; ACH in free; conversion from 0.23% | Not a bank; pass-through FDIC up to $250K on interest funds only | Check Wise’s availability page | Visit Wise Business |
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.
Why your LLC needs its own bank account
An LLC is a separate legal entity, and the clearest everyday proof of that is separate money. When owners pay personal bills from the business account — or deposit customer payments into a personal one — it becomes harder to show the LLC is distinct from them. Courts look at that kind of commingling when deciding whether to hold owners personally liable.
A dedicated account also does three practical jobs:
- Clean books. Every business transaction is in one place, which makes bookkeeping and the year-end tax return much faster.
- Credibility. Clients pay an invoice from “Your Company LLC”, not your personal name, and payment processors such as Stripe expect a business account.
- Business credit. Lenders look at business bank history when you apply for a loan or line of credit.
How to open a business bank account for an LLC
- Get your EIN. Banks open business accounts under the LLC’s Employer Identification Number. It’s free from the IRS and takes minutes online if you have an SSN or ITIN.
- Gather your LLC documents. Have your filed Articles of Organization (or Certificate of Formation), your EIN confirmation, your operating agreement if the bank asks for it, and a government ID for each owner who must be identified.
- Pick the account that fits how you get paid. Online businesses usually want free ACH and wires; cash businesses need cash deposits; owners outside the US need a bank that accepts a passport instead of an SSN.
- Apply online and verify owners. US banks must identify people who own 25% or more of the LLC and one person who controls it. Expect to enter names, addresses, dates of birth and ID numbers for each.
- Fund the account and connect your tools. Move the opening deposit (often $0 at online banks), then connect your payment processor, accounting software and payroll.
Don’t have an EIN yet? Get one free from the IRS — it’s the one document every bank asks for.
Documents you need
| Document | Why the bank asks | Where to get it |
|---|---|---|
| EIN confirmation | Identifies the LLC for tax reporting | IRS, free — how to apply |
| Articles of Organization (Certificate of Formation in TX and DE) | Proves the LLC exists and who formed it | Your state filing office |
| Operating agreement | Shows owners and who can sign | You draft it — what to include |
| Owner IDs | Banks must identify 25%+ owners and one controller | Driver’s license or passport |
| Certificate of good standing (sometimes) | Confirms the LLC is active | State — fees by state |
Fees to watch (even on “free” accounts)
Every account here charges $0 a month on its base plan, so compare the fees you’ll actually trigger:
- Outgoing wires. Free at Mercury (domestic and USD international); $15 per domestic wire on Bluevine Standard and on Found’s free plan.
- Cash deposits. Mercury doesn’t accept cash. Relay accepts it free at Allpoint+ ATMs or up to $4.95 at Green Dot retailers; Found charges $2 at retail locations.
- Out-of-network ATMs. Bluevine charges $2.50; Novo refunds up to $7 a month in third-party ATM fees.
- Foreign currency. Mercury charges 1% on non-USD wires and 3% on non-USD card purchases; Wise converts from 0.23%.
- Paid upgrades. The higher interest rates (Relay Scale, Bluevine Premier, Found Pro) come with $80–$120 monthly plans — only worth it with a large balance.
Live outside the US?
Mercury, Relay and Lili accept many non-US owners; Novo and Found don’t. We compare eligibility, documents and the countries each one supports in business bank accounts for non-US residents. Leer en español.
Frequently asked questions
Do I need a separate bank account for my LLC?
Yes, in practice. Keeping LLC money apart from personal money is one of the main ways owners protect the liability shield an LLC provides, and it makes bookkeeping and taxes far simpler. Most banks also require an EIN in the LLC’s name for business accounts.
What do I need to open a business bank account for an LLC?
Usually: your EIN, the filed Articles of Organization (Certificate of Formation in some states), a government-issued ID for each owner with 25% or more and for one controlling person, and sometimes the operating agreement. Online banks such as Mercury and Relay let you upload these.
Which business bank account is best for an LLC?
It depends on how you get paid. From the accounts we compared (verified October 18, 2026): Mercury for free wires and non-US founders, Relay for multiple accounts and cash deposits, Bluevine for interest on checking, Lili for owners in Latin America without an SSN, and Found for US freelancers who want built-in tax tools.
Can I open an LLC bank account online?
Yes. All seven accounts in our comparison open fully online. Traditional banks often ask at least one owner to visit a branch.
Is there a free business checking account for an LLC?
Yes. Mercury, Relay, Bluevine, Novo, Found and Lili all have $0-per-month plans with no minimum balance. Watch the per-transaction fees instead: wires, cash deposits and same-day ACH are where costs appear.
Can a non-US resident open a business bank account for a US LLC?
Often yes, with a fintech. Mercury and Relay accept owners from most countries if the business operates in the US, Lili opens with a passport and EIN (no SSN), and Bluevine accepts residents of 25 listed countries. Novo and Found require an SSN. See the full guide for non-US owners.
Are online business accounts FDIC insured?
Deposits are FDIC insured through partner banks, not the fintech itself. Several use sweep networks for higher coverage: Mercury up to $5M, and Relay, Bluevine and Lili up to $3M, per their sites.
Can I use my personal bank account for my LLC?
For a single-member LLC it isn’t illegal, but mixing funds makes it harder to prove the LLC is separate from you and complicates your tax records. A free business account removes the problem.
Your LLC setup checklist
- Get a free EINFrom the IRS, in minutes online.
- Sign an operating agreementSettle who owns and decides what before it matters.
- Get business insuranceCover what the LLC itself doesn’t protect.
- Plan your taxesKnow your tax status and federal due dates.
- Track state deadlinesFree reminders before each filing.
Everything in one list: printable LLC compliance checklist · live deadline calendar.