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Forming an LLC is a smart move to shield your personal assets from business liabilities, but that protection only holds if you keep your finances separate. One of the first and most important steps? Opening a dedicated business bank account. The choices you make early on can have a lasting impact on your business, and selecting the right bank account is no exception.
With so many options out there, finding the perfect fit can feel overwhelming. That’s why we’ve put together this guide—to streamline the process and help you choose the best bank account for your LLC’s specific needs.
Quick View on the Best Business Bank Accounts for LLCs
- Bluevine – Best LLC Bank Account Overall
- Lili – Best for One-Person Businesses
- Truist – Best for Traditional Banking With Modern Tools
- Novo – Best for Low Fees
- American Express – Best for Membership Rewards
- Capital One – Best for Unlimited Transactions
- Bank of America – Best for Traditional Banking
- Axos – Best Full-Service Online Bank
- U.S. Bank – Best for Lending Options
- Oxygen – Best for Freelancers
- Chase – Best for Cash Deposits
Best LLC Bank Account – Quick Verdict
Bluevine is the best overall option because it’s well-balanced, has no transaction fees, and also provides a lending option for those who qualify. It’s a well-balanced checking account option for businesses just starting out or LLCs that have been around for a while. You can quickly open a business bank account and be ready to go within minutes.
Best Small Business Bank Accounts for an LLC
The best business bank accounts for LLCs vary depending on how much money you plan on moving through the account and how many deposits you need to make. Most are free, but some, especially traditional options, require transaction fees that you’ll need to pay attention to.
Below, you’ll find a detailed look at the best small business account options for LLCs and how they stack up.
Bluevine – Best Overall
A Bluevine business checking account provides a basic online business checking account option that’s very well-rounded for most small businesses. You can pay bills, apply for small loans in minutes, and earn a decent interest rate without monthly fees.
The application process is simple and can be completed in minutes, with the possibility of your account up and running on the same day. All these features make Bluevine one of the best banks for startups and for businesses in general. Read our complete review on Bluevine to open a business account with it.
Fees
Bluevine charges no maintenance, NSF, or deposit fees beyond the industry standard. You can complete as many transactions as you need without incurring additional fees. Bluevine also has no minimum balance or minimum deposit requirements.
Interest Rates
Bluevine also offers a great APY on its checking account, giving users up to a 2.0% return on balances up to and including $250,000.
This is only available to account holders who either spend $500 per month on their debit card or receive $2,500 per month in customer payments into their checking account. Bluevine also offers two paid tiers, Bluevine Plus and Bluevine Premier, where users can earn up to 4.25% APY.
Lending
You can also avail of business Lines of Credit of up to $250,000 at extremely competitive rates. The application process is fast and easy. you can often decide in under five minutes. Bluevine charges no fees for opening, maintaining, prepayment, or account closure.
- Sub-accounts, each with its own unique account and routing number
- Unlimited transactions
- No minimum deposit
- Virtual bank
- Only allow cash deposits through Green Dot & Allpoint+ Services
- No business savings account
Why we chose it: With non-existent banking fees and one of the most lucrative APYs in the market, Bluevine is a top choice for opening a bank account for LLCs. Sign up today.
>> Create an LLC Bank Account for Free With Bluevine >>
Lili – Best For One-Person Businesses
Lili is perfect for small, one-person operations. It straddles the awkward and occasionally non-existent division between personal bank accounts and business checking accounts for small businesses. Although it’s FDIC-insured, it’s not a traditional bank.
It provides business checking account options, particularly invoicing, without some superfluous and expensive features. However, you do miss out on lending and merchant services options. Also of help to a ‘tiny business’ is the free online bill payments, making it one of the best business accounts for a one-person LLC.
Fees
Lili’s standard banking services are free. There’s no monthly fee, overdraft fee, ATM fee, or minimum balance requirement, similar to the best business bank account for LLCs: Bluevine. However, if you go with Lili Pro, it costs you $4.99 per month on account of the additional services you receive.
Interest Rates
You won’t get an APY on Lili’s standard offerings. If you go with Lili Pro, you can get up to 1% APY with a savings account. The Automatic Savings feature lets you set up an automatic transfer of at least $1 a day to your savings account.
Lending
Lili is far from a traditional bank and has very limited lending options. However, you can expect a free overdraft of up to $200 on debit card purchases.
- Easily separate business and personal transactions
- Offers tax optimizer tool
- Create and send invoices
- Virtual bank (through Choice Financial Group)
- No real lending or merchant services
- Not good for bigger businesses
Why we chose it: Lili handles the sometimes blurred lines between personal and business finances that are common with single-person concerns.
It’s a good choice for freelancers and one-person businesses and has innovative features, including Automatic Savings and Tax Optimizer. Read our in-depth Lili Bank review to learn more about its services.
>> Create an LLC Bank Account With Lili >>
Truist – Best for Traditional Banking With Modern Tools
Truist offers a strong combination of traditional banking services with digital convenience, making it a solid option for small businesses that prefer in-person support alongside online capabilities. With a wide range of business checking accounts, lending products, and cash management tools, Truist is well-suited for growing businesses that need scalability and flexibility.
Business owners can open accounts online or visit one of Truist’s 2,000+ branches across the U.S., offering the convenience of digital and face-to-face banking. The bank also provides a robust mobile app, 24/7 fraud protection, and integration with popular accounting tools like QuickBooks®.
New Business Checking Clients
- New business checking clients can earn a $400 bonus with qualifying activities.
- Enrollment in the promotion is required when an account opens using promo code SB24Q4BIZAFL to be eligible.
Fees
Truist offers multiple business checking account options with varying fee structures, including Truist One Checking. The Simple Business Checking account has no monthly maintenance fee if you maintain a $1,000 average balance, while higher-tier accounts come with added features and higher waivable fees. Truist doesn’t charge for incoming wires or electronic deposits, and you can perform up to 50 transactions per month at no charge with the basic account.
Interest Rates
Interest-bearing checking accounts are available through Truist’s higher-tier options, although the APYs are generally modest compared to online-only banks like Bluevine. These accounts are ideal for businesses looking to keep funds in one place while earning a small return.
Lending
Truist offers a full suite of business lending solutions, including business Lines of Credit, SBA loans, equipment financing, and commercial real estate loans. The application process is streamlined, and existing Truist customers may benefit from faster approvals and better terms. The bank also provides financial advice and customized lending solutions for established businesses.
- Access to physical branches for in-person banking
- Full suite of business lending and treasury services
- Easy integration with accounting software
- Wide range of account options for different business sizes
- Monthly fees on some accounts unless balance requirements are met
- Lower interest rates compared to online banks
- Limited fee-free transactions on entry-level accounts
Why we chose it: Truist is ideal for business owners who want the best of both worlds—reliable in-person service and modern online tools. With extensive lending options and personalized support, Truist is a strong pick for established LLCs or growing businesses.
>> View Details for Truist >>
Novo – Best For Low Fees
Novo is a great checking account for small businesses because of its easy-to-use platform, straightforward application process, and seamless ability to make digital payments.
You can complete and submit your application in under 10 minutes and get a quick response with any missing information. As soon as your account is approved and you make your first deposit of at least $50, you can start using your checking account.
Novo thrives with its easy-to-use mobile app. Since the bank offers free ACH transfers, you can easily sign in to your app via your mobile device to pay bills, send money, run payroll, or transfer money to your personal account within seconds.
You always have your banking details and transactions at your fingertips to help you stay on top of your financial obligations. The app also gives you a nice overview of what you’re spending and bringing in each month.
Fees
Novo charges no fees for its checking account service. You only need an opening deposit of $50 to get your account running. There are no minimum balance requirements, cash deposit fees, incoming wire fees, or ACH fees with this bank. Novo also refunds all ATM fees and is backed by FDIC insurance through Middlesex Federal Savings, F.A.
Interest Rates
Novo charges no fees for its business checking account, much like Bluevine. However, forgo earning interest for it. The bank offers no interest on your checking account deposits.
Lending
Novo offers no lending options. It’s purely a checking account service and doesn’t offer loans, Lines of Credit, or even a business credit card. Want a loan? Then here’s a list of the best bad credit loans available for you.
- Unlimited fee-free business checking transactions
- Unlimited ATM fee refunds
- Smooth integrations with third-party software like Shopify and QuickBooks
- No lending options
- No cash deposits
- No Lines of Credit or loans
Why we chose it: With its great mobile app and integrations with software like Shopify and QuickBooks, Novo is one of the best low-fee options out there. Read our Novo review for an in-depth analysis of its checking account service.
>> Create an LLC Bank Account With Novo >>
American Express Business Checking – Best for Membership Rewards
American Express Business Checking follows a newer trend in business banking, offering more fee-free services and not requiring a minimum balance for its basic business checking account. You can also charge unlimited transactions through their payment services. If you’re looking for Kabbage business checking, you’d be surprised to know that American Express acquired Kabbage.
American Express Business Checking is a great option for business owners who want to get a line of credit and a bank account. It offers easy loan approval for small businesses for Lines of Credit of up to $250,000 with Kabbage Funding by American Express. Read our full Kabbage Funding review to find more. Remember our other business bank account reviews, such as the nbkc Bank Account Review and SoFI Review.
Fees
American Express Business Checking has no monthly fees. There’s no minimum opening deposit requirement and no online transaction fees either. You can use all MoneyPass ATMs for free. However, using an out-of-network ATM will cost you around $3 per transaction. American Express doesn’t support cash deposits.
Interest Rates
This bank account has one of the highest APYs, offering a 1.30% return on balances of up to $500,000, though it does fall short of Bluevine’s generous 2.0% return. American Express Business Checking’s APY doesn’t beat that of Bluevine, still, it’s the second-highest on this list.
Lending
The best thing about opening an account with American Express is that it also has Kabbage Funding which offers easy loan approval for Lines of Credit of up to $250,000. It’s a great option even if you don’t have a high credit score. You can get your application approved with a FICO score of 640.
With Kabbage Funding, you’ll receive a simple application process for checking and line of credit products. Kabbage can automatically use your banking history to get you approved for a line of credit. If you’re initially denied, you can show history by using a Kabbage checking account, and they’ll auto-approve you when your account shows you should be.
- Easy line of credit, no prepayment charges
- No minimum balance
- Easy application process
- Mobile check deposits only available on iOS
- Cash deposits not supported
- Only available to American Express customers
Why we chose it: American Express Business Checking offers all the services of a traditional business account but with the convenience of an online bank. It offers an attractive APY and is perfect if you also need a business line of credit.
>> Create an LLC Bank Account With American Express >>
Capital One – Best For Unlimited Transactions
Capital One offers two different options for business checking accounts. The Basic account is just that, offering unlimited electronic deposits, online and mobile banking, and a relatively low minimum balance to waive fees. The Unlimited business bank account includes two Basic accounts, so might be a good fit for businesses with complicated finances.
Capital One is a very traditional banking company, but it blows the other traditional banks out of the water with its app and ease of use for your account. Capital One also offers many other products, such as credit cards, that you might qualify for if you’re able to get approved for their business checking account.
One of the bank’s strongest features is its experienced and highly responsive customer service. If you’re interested, remember that Capital One’s business checking is only available in a few states. You must also visit a branch in person to apply for a business checking account.
Fees
Capital One’s Basic Checking account comes at a monthly fee of $15, which is steep compared to American Express’s zero maintenance fee. However, the fee can be waived if your balance exceeds $2,000. Cash deposits are free for up to $5,000 in deposits per month. Standard wire transfer fees are charged with this product.
The Unlimited Checking account has a monthly fee of $35, which can be waived with a minimum balance of $25,000. This account has free cash deposits with no limits, all incoming wires are free, and you also get five free outgoing wire transfers per month.
Interest Rates
Capital One offers no APY on its checking account. However, you can earn interest at 0.2% with a savings account.
Lending
Capital One offers small business loans and Lines of Credit but you can only avail of these if you have your checking account with it. It offers one of the largest Lines of Credit of up to $5 million. If you are looking for a longer repayment term, fixed rates, and lower equity requirements, it also has SBA 504 and SBA7(a) loans.
- Experienced support from a large bank
- Self-service escrow services
- Unlimited checking includes two Basic accounts
- High balances to waive fees
- Only available in some states
- Have to visit a branch to apply for an account
Why we chose it: Capital One offers services similar to those of other large banks with similar pricing. It’s a great option if you prefer to do your banking through physical branches. Read our in-depth review of Capital One to learn more about its services.
>> Create an LLC Bank Account With Capital One >>
Bank of America – Best For Traditional Banking
Bank of America business checking accounts are only one of several products that BofA offers to small businesses. The two levels are similar to Chase and Capital One, with two different levels of service aimed at smaller and larger businesses.
Bank of America is the epitome of a traditional bank. While it has online capabilities with a decent app, it’s still not as simple to use as other options. Plus, the fee structure isn’t built with small businesses in mind due to the large balances required to waive those fees.
Fees
Bank of America offers two types of business checking accounts, Business Advantage Fundamentals and Business Advantage Relationship banking. The Fundamentals account has a monthly fee of $16. Still, it can be waived off if you maintain a $5,000 combined average monthly balance, spend at least $250 in new net qualified debit card purchases each statement cycle, or join the Preferred Rewards for Business program.
The Relationship checking account has a monthly fee of $29.95, which can be waived with a combined average monthly balance of $15,000. If you open a savings account, it has a fee of $10 per month, which can be waived with a $2,500 minimum daily balance.
Interest Rates
Bank of America’s checking account offers no interest earnings. With the business savings account, you can earn only a very minimal interest at 0.01% APY, far below the 2.0% return from Bluevine.
Lending
For lending, Bank of America offers a business credit card, secured business loans from $25,000 to $250,000, and secured Lines of Credit from $25,000. It offers plenty of lending options but needs a minimum credit score of 700 to qualify.
- Integrated with Zelle money transfer
- Online account integrates with accounting apps
- Payroll services
- High balances to waive fees
- The app isn’t as easy to use as other options
- High monthly service fees
Why we chose it: Bank of America offers well-established business banking options. It’s a great option if your business deals with heavy cash flows. Read our Bank of America review for an in-depth analysis of its account types.
>> Create an LLC Bank Account With Bank of America >>
Axos – Best Full-Service Online Bank
Axos is a virtual bank in that it only offers online business banking and isn’t backed by physical locations. However, unlike some competitors, it doesn’t depend on another financial institution. It’s a bank in its own right. Due to its generous terms and range of services, Axos regularly appears on lists of ‘Best Business Checking Accounts’ across the web.
Axos is an online-first bank that’s easier to navigate and use than most traditional banking options. It prides itself on building a great online presence and customer experience, making it a terrific option for small or digital businesses. Unfortunately, the APY you’ll earn is up to only 0.20% for basic checking or 1.01% for interest checking if you carry a minimum balance of $5,000.
Fees
Axos offers four main types of business bank accounts. Basic Business Checking, Business Interest Checking, Business Savings Account, and Business Premium Savings.
Basic Business Checking has no monthly fee, but Business Interest Checking has a $10 monthly fee. Basic Savings has a monthly fee of $5, while its Premium version has none.
Interest Rates
While Axos’ customers have plenty of interest-bearing options, the yield rates aren’t as high as some of the other banks. The basic checking account has no APY, while the interest-bearing checking account has an APY of 1.01%.
If you go with Axos’ savings options, you get a 0.20% yield on both the Basic and Premium Business Savings accounts.
Lending
Axos Bank partners with Centerstone SBA Lending to support businesses with SBA loans. They provide a federally backed guarantee and offer flexible terms. The bank also offers commercial Lines of Credit and term loans, but these are best for large corporations.
- No monthly fees and unlimited transactions
- Cash deposits allowed via MoneyPass and Allpoint ATMs
- Wide range of interest-bearing options
- No physical locations
- Limited integrations
- Doesn’t offer the highest APY
Why we chose it: Axos is a full-service online bank and is a great option for any business that wants to keep all its banking online. It offers low fees and free cash deposits across all MoneyPass and Allpoint locations across the US. Read our in-depth review of Axos Bank to learn more about its services.
>> Create an LLC Bank Account With Axos >>
U.S. Bank – Best For Lending Options
Unlike its colleagues on this list, U.S. Bank forgoes a monthly maintenance fee on its basic U.S. Bank Silver business checking account, opting instead for transaction fees. This might be a good fit for businesses that don’t have many monthly transactions, such as contractors with a single major client.
The fees on more expensive accounts can be waived by meeting minimum balance requirements or one of several other criteria. As long as you’re only running a few transactions each month, U.S. Bank might offer a good account for your LLC.
Fees
U.S. Bank offers three checking accounts. The Silver Business Checking Account package has no monthly fee and 125 free monthly transactions. Every transaction is charged $0.50 if the count exceeds 125.
The Gold package has a $20 monthly fee and $0.45 per transaction after it crosses the 300 limit. The Platinum package has a $30 monthly fee and costs $0.40 per transaction after 500 monthly transactions. All these fees are pricey if you compare U.S. Bank to the top-ranked Bluevine, which charges zero fees.
Interest Rates
U.S. Bank doesn’t offer any yields on checking account deposits. Regarding its savings account, you can earn 0.01% APY with a minimum deposit of $25.
Lending
This financial institution offers a range of lending options including business credit cards, Lines of Credit, and loans. U.S. Bank has a range of business credit cards that offer different features including cash backs, no annual fees, low interest rates, and rewards programs.
It also offers various small business loans to fit your business needs. Loan amounts go up to $250,000 with Quick Online loans and $12.375 million with government-backed loans.
- Lending to fit your needs
- Specialized merchant services for restaurants, retailers, and service providers
- Small business specialists
- Charges transaction fees
- No APY on checking accounts, very low APY on savings accounts
- High early withdrawal penalties on CDs
Why we chose it: U.S. Bank has a range of great products and services. Its lending options are its strongest selling point. It’s a good choice for any business with a low transaction count. Read our in-depth review of U.S. Bank to learn more about its services.
>> Create an LLC Bank Account With U.S. Bank >>
Oxygen – Best For Freelancers
Looking at Oxygen’s website, you might think it’s a fashion magazine or trendy boutique. However, it offers a business checking account through its online-only bank. There’s a fee-free option and, unusually, options with an annual fee. Oxygen is perfect for freelancers looking to separate their personal and business finances.
Oxygen is explicitly aimed at trendy small business owners or freelancers, with your choice of an element-themed business bank account online. Don’t let the fancy presentation put you off, though, as it has some features that make it one of the best business bank accounts for freelancers, like cell phone and lost luggage protection. Perhaps most importantly, Oxygen will help you form an LLC with its business registration services.
Fees
Interestingly, Oxygen divides its services into the elements Earth, Water, Air, and Fire. It calls these loyalty tiers that help business owners succeed in their own way.
The Earth tier is the most basic offering and comes with no fees. The savings option earns you up to 0.50% APY. Water is the next tier, which costs $19.99 per year. It offers a range of features plus 1.00% APY on savings. The Air and Fire tiers cost $49.99 and $199.99 annually, offering an APY of 2.00 and 3.00% on savings, respectively.
Interest Rates
Oxygen has some lucrative interest rates with its savings option for each tier. You can earn with an APY of 0.50%, 1.00%, 2.00%, and 3.00% on the Earth, Water, Air, and Fire elements, respectively. These interest rates are higher than even Bluevine and American Express Business Checking, which offer up to 2.0% and 1.3%, respectively.
Lending
Since Oxygen is only a mobile banking app, not a full-fledged bank, it offers no lending options.
- 5% Cashback rewards
- Create virtual, single-use debit cards
- Business savings with 1% APY
- Virtual bank, no cash deposits
- Fewer integrations than other options
- No lending options
Why we chose it: Oxygen is far from a traditional bank. It’s bringing style and innovation to the financial services sector and offering highly lucrative and feature-packed options for both personal and business bankers. To learn more about its services and fees, read our review on Oxygen.
>> Create an LLC Bank Account With Oxygen >>
Chase Business – Best for Merchant Services
Chase Business Checking offers a strong account option if you’re looking for a traditional bank account where you can deposit cash. The bank offers a huge network of physical branches and a sizable ATM network. Businesses in most states that need to deposit cash will find this to be a great option.
Chase offers business checking accounts with features like a business debit card and cash deposits at its brick-and-mortar locations. However, unlike most of its competitors, it charges a monthly maintenance fee.
Unfortunately, between the potential for fees and the app, Chase ranks lowest on our list but with solid potential. Those needing a more robust online experience will find another option more appealing, but traditional bank lovers who take cash from customers and need to deposit cash into their accounts regularly will find Chase worth looking at.
Fees
For a business checking account option, Chase has three offerings:
- Chase Business Complete Checking: $15/month waived off with $2,000 of minimum daily balance
- Chase Performance Business Checking: $30/month waived off with $35,000 combined average beginning day balance
- Chase Platinum Business Checking: $95/month waived off with $100,000 combined average beginning day balance
Each offers business checking accounts with features like a business debit card and cash deposits at their brick-and-mortar locations. Unfortunately, it’s not monthly maintenance fee-free like Bluevine.
Interest Rates
Chase Business Checking accounts offer no APY on deposits. Businesses can earn interest with Chase Business Savings, but you must inquire about what APY offers you.
Lending
Chase for Business offers several lending options. In addition to its business credit card offerings, it offers small business loans and Lines of Credit. Business Lines of Credit range from $10,000 to $500,000, while loans start at $5000.
- Accept payments through the Chase mobile app
- International with locations worldwide
- Fraud protection
- Higher fees
- High minimum balance to waive fees
- Unclear APY on savings accounts
Why we chose it: Chase Business Complete Banking is a good option for a small business looking for some heavyweight banking options. Read our in-depth Chase Business review to learn more about its services.
>> Create an LLC Bank Account With Chase >>
Choosing the Best Small Business Bank Account for an LLC
For many people, forming an LLC marks a transition, changing their side gig for some extra income to a serious business. There are many boxes to check in that process, but one of the most important is to choose the best business checking account for your needs.
The primary benefit is to separate your personal checking account from your business bank account. However, a business checking account for your LLC can also offer a range of other benefits. Even a basic business banking account can offer Lines of Credit, invoicing services, and more. A business checking account might also come with merchant services, while a savings account can help your money grow.
In the past, LLC business owners had limited choices for business accounts, but using an online bank, with smaller fees and better rewards, is becoming more popular.
Fees—Transaction, Minimum Balance, Early Termination, Daily Batch
In many cases, the main concerns are monthly maintenance fees and other charges that can add up. Many banks offering LLC accounts have sought to attract small business owners by waiving monthly fees under certain circumstances or dropping monthly fees entirely. Fees can show up in many places, however, including.
- Transaction fees
- Deposit fees
- Minimum balance
- Overdraft fees
The best business checking account for your needs won’t charge fees in areas critical to your business. For example, offering unlimited transactions or free cash deposits per month.
Interest Rate—APY on Checking and Savings Accounts
Several banks on our list offer an APY on their checking accounts. Some top-ranked banks offer a yield as high as 2.0%, making them a lucrative option for business owners. The higher the APY, the better for your business. However, note that some banks may offset your interest earnings by charging you monthly maintenance or transaction fees.
You can also earn interest on savings accounts, while you can earn interest on your primary checking with many of the best business bank accounts online. Again, the higher the interest rate offered, the better it is.
Liability—Business vs Personal Funds, Customer Purchase Protection
As the name implies, a Limited Liability Company is intended to limit your financial liability in the event of a problem with your business. Even a basic business checking account for your LLC aids in separating your personal finances, creating a clear distinction between personal and business accounts.
Accounts for LLCs can offer more protection from certain types of liability than just a separate business bank account. Most bank accounts have fraud protection these days. If your bank also offers merchant services, it may add a layer of additional protection by covering the cost of customers who dispute transactions and similar problems.
Lending—Lines of Credit, Credit History
You may have a personal credit rating, but your small business needs to establish its own credit history. Business owners may need small loans to cover payroll or billing or larger loans for new equipment or a bigger space.
A loan like that can be easier if you already have a business checking account with a particular institution. Developing a history with an institution can also improve the odds of bad credit business loan approval.
While we’ve focused on national and online banks, your local community bank or credit union might be a good option, especially if you anticipate needing a loan. The personal relationships common with local banks can be helpful, particularly for specialist businesses.
Rewards and Benefits—New Account Bonuses, CashBack, Free Services
Even the best business checking account options tend to have a similar set of fees and services. Other factors may determine which bank is best for you. Offering some free cash deposits per month is common, as is online bill pay or no minimum deposit requirements. Picking through those details saves you money.
How to Open a Business Bank Account for an LLC
Opening a business bank account for an LLC isn’t a very complicated process. In this section, we answer some of the most important questions about LLC bank accounts to give you a clear overview of the road ahead.
What Do I Need to Open a Bank Account For My LLC
With an online business checking account like Bluevine, you can set up your LLC bank account in no time. You only need the following information:
- Business name and address
- EIN (Employer Identification Number) or SSN if you’re a single-member LLC (Read more about how to open a business account with EIN only)
- Date of LLC registration
- State where your LLC is registered
- Primary business location
- Personal information of the business owner (SSN, DOB)
What Other Documents Does the Bank Need to Open My LLC Bank Account?
While the documentation requirements vary from bank to bank, here’s what you can expect the bank to ask for.
- LLC Articles of Organization or Certificate of Formation
- LLC Operating Agreement
Just to be safe, call or visit the bank’s website to ensure you’ve got everything you need to open a business bank account. This will help you avoid the hassle.
Do I Need an LLC to Open a Business Bank Account?
You can open a business bank account without an LLC. Registered businesses can open a business bank account, be it a sole proprietorship or a partnership. Ultimately, it all comes down to what you need to open a business bank account. Here are the different types of businesses and the documentation they need to create a bank account:
- Sole Proprietorship – DBA certificate
- Partnership – Business partnership agreement and business license if you operate an eatery or healthcare facility
- Corporation – Certified articles of incorporation, corporate bylaws, a signed corporate resolution, business license, and IRS 501(c) letter if you are a non-profit corporation
- Limited Liability Company (LLC) – Certified articles of organization, operating agreement, and business license. Learn more on how a corporation differs from an LLC here.
Want a business account for your sole proprietorship? Check out our list of the best banks for sole proprietorships.
Can I Open a Business Checking Account at a Credit Union?
Yes, you can open a business checking account at many credit unions. Some of the top-rated options include Digital Federal Credit Union, Navy Federal Credit Union, and America First Credit Union.
Do LLCs Need a Specific Type of Bank Account?
There are no special LLC accounts. Most top-rated banks offer checking or savings accounts, and offerings vary from bank to bank. A checking account can meet all an LLC’s banking needs if it’s in the right bank. We recommend Bluevine, Novo, and American Express Business Checking as the top-rated bank accounts for LLCs.
Do I Need a Separate Bank Account for My LLC?
You start an LLC to separate your personal and business finances. After formation, a Limited Liability Company becomes a separate legal entity from its owner. This is why we recommend creating a separate bank account for your LLC.
State and federal law don’t require you to create a separate bank account for an LLC. However, having separate accounts is a good idea to make financial management easier and avoid trouble in the long run. Plus, you can easily open a business account with free online banks like Bluevine and start reaping the benefits immediately.
Can I Use My Personal Bank Account for My LLC?
You can technically do so, but we strongly advise against using your personal bank account for your LLC.
Forming a Limited Liability Company protects your personal assets in case something goes wrong with your business. However, if you keep using your personal bank account for your LLC, the authorities can come after your personal assets easily.
>> Create an LLC Bank Account for Free With Bluevine >>
Frequently Asked Questions (FAQs) for Best Small Business Bank Accounts for LLCs
Still have questions about the best small business bank accounts for LLCs? See if we answer them below.
Bottom Line on Best Small Business Bank Accounts for LLCs
Banks may appear to be powerful, intimidating institutions—but here’s the truth: you have more influence than you realize. By taking the time to research and compare your options, you can find a bank that truly supports your small business goals.
Keep in mind, you’re the customer—which means you call the shots. So don’t wait. Apply today and take a key step toward securing your finances and empowering your LLC for success.
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Terms and Conditions for the Small Business Checking Affiliate Q2 & Q3 2025 Offer: SB25Q2BIZAFL:
Offer Information: Open a new Truist Simple Business Checking or Dynamic Business Checking account online, via phone, or in a branch from 4/1/2025 through 9/30/2025 and earn $400 by making Qualifying Deposits* of $2,000 or more into your new account within 30 days of account opening.
Enrollment in the promotion is required at the time of account opening using promo code SB25Q2BIZAFL to be eligible for a promotion reward. Refer to the Account Opening & Promotion Enrollment sections below for instructions.
*Qualifying Deposits for new business checking accounts exclude debit card credit transactions and NSF fee refunds. Deposits can be made on a one-time basis or cumulatively over the 30 days.
Offer Eligibility: You must be a new Truist business checking client. To be considered a new business checking client, the business cannot have an existing Truist business checking account or have closed a Truist business checking account within 180 days of the promotion start date (i.e., on or after 10/3/2024), with the same Taxpayer Identification Number (TIN), including but not limited to an Employer Identification Number (EIN). The business account holder must be 18 years or older at time of account opening. The account holder cannot be a non-resident alien. The business account holder must have a valid U.S. TIN. The business’s physical address must be located in one of the following states: AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.
Reward Processing: The reward will be deposited to the new business checking account within 4 weeks after the qualification requirements have been met and verified. In order to receive the reward, the new business checking account must be open, not restricted, and in good standing with a balance of at least $0.01 at the time of Truist verification and at the time of payout. An account is considered restricted if it has a temporary or permanent block that prevents credits from posting to the account. Truist verification will occur one time after the qualification requirements are initially met. Promotion is only applicable once per client and for one new qualifying business account. Truist may report the value of any offer reward received to the IRS as required by law. Any appliable taxes are the responsibility of the recipient.
Reward Forfeiture: Reward forfeiture will occur if: (1) the new business checking account is changed to an account type not included in this offer prior to payout, (2) the new business checking account has a $0.00 or negative available balance or is restricted at the time Truist verifies the qualification requirements have been met or, (3) the new business checking account is closed or restricted at the time of payout.
Other Terms: Minimum opening deposit is $100. A monthly maintenance fee is applicable for Truist Dynamic Business accounts whose combined average relationship ledger balance is less than $5,000; the monthly maintenance fee is waived for accounts with a combined average relationship ledger balance of $5,000 or more. See Truist’s Business Deposit Accounts Fee Schedule for additional information.
The offer is non-transferable and may not be combined with any other offers. This offer is subject to change and may be discontinued at any time. Truist reserves the right, in its sole discretion, to disqualify any account if Truist suspects accounts are being opened for the purpose of exploiting this promotional offer. All promotional payouts will be processed no later than 3/31/2026, at which point this promotion and any related disbursements will be considered final, and no further disbursements will be made.
Online Account Opening & Promotion Enrollment Instructions: During the online application process, ensure the promo code SB25Q2BIZAFL is entered into the Promo Code field and accept the offer when presented. Accounts opened online without the Promo Code will not be eligible to participate in the offer.
Branch Account Opening & Promotion Enrollment Instructions: Visit your local Truist branch or call a Small Business representative and ask to open an eligible account and enroll you in the Truist Small Business Checking Affiliate Q2 & Q3 2025 Offer using promo code SB25Q2BIZAFL. Once enrolled in the promotion, clients may receive promotional updates via the email address provided or by calling 800-709-8700.
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