Crediful is committed to helping you make smarter financial decisions by presenting you with the best information possible. We’re able to offer this content free of charge because some of the companies featured on our site compensate us.
Compensation may influence how and where products appear, including their order in listing categories.
While we don’t feature every company, financial product, or offer available, the information, reviews, and tools you’ll find on Crediful are based on independent research. Our top priority is you—our reader. We never recommend a product or service we wouldn’t use ourselves.
Managing money as a freelancer isn’t as simple as it is with a traditional paycheck. With unpredictable income, tax obligations, and business expenses, the right bank account can make managing cash flow easier.
A solid freelancer checking account helps you separate business and personal finances, track expenses, and even automate tax savings—without the fees that eat into your earnings.
9 Best Bank Accounts for Freelancers
Below are the best checking accounts for freelancers, gig workers, and entrepreneurs to help you keep your finances organized.
1. Found: Best Overall Bank Account for Freelancers
Found is a digital banking platform built for freelancers and small business owners who need an easy way to manage taxes, expenses, and invoicing.
With no monthly fees and built-in tax withholding features, it simplifies financial management for self-employed individuals.
Key Features:
Fee-Free Banking: No monthly maintenance fees, minimum balance requirements, or hidden charges.
Automated Tax Tools: Calculates and withholds taxes on income deposits, provides real-time tax bill estimates, and allows in-app quarterly tax payments.
Integrated Invoicing: Create, send, and track professional invoices directly from the app.
Expense Tracking: Categorizes business expenses automatically and generates profit and loss reports.
Payment App Integration: Connects with PayPal, Square, Cash App, and Venmo for seamless transactions.
Pros:
No Fees: No maintenance charges or minimum balance requirements.
Comprehensive Tax Support: Automated tax calculations and withholding make tax season easier.
User-Friendly Invoicing: Built-in invoicing tools streamline billing and payments.
Cons:
No Physical Branches: Entirely online with no in-person banking services.
Cash Deposit Fees: Depositing cash incurs fees through third-party services.
Limited Advanced Features: No lending or credit options for business growth.
Best For: Freelancers and small business owners looking for a fee-free, digital banking solution with integrated tax planning and invoicing tools.
2. Novo: Best for Integrated Business Tools and No Monthly Fees
Novo offers an online business checking account built for freelancers and small business owners who want a fee-free banking experience with built-in business tools.
With no monthly fees and seamless integration with platforms like QuickBooks, Stripe, and Shopify, Novo makes financial management easier for modern entrepreneurs.
Key Features:
No Monthly Fees: No maintenance charges or minimum balance requirements.
Unlimited Transactions: Free incoming wires, ACH transfers, and unlimited fee-free transactions.
ATM Fee Reimbursements: Refunds for all ATM fees worldwide, up to $7 per month.
Integrated Invoicing: Create and send unlimited, customizable invoices directly from your account.
Business Tool Integrations: Connects with platforms like QuickBooks, Shopify, PayPal, Stripe, and Square.
Pros:
Fee-Free Banking: No monthly maintenance fees or minimum balance requirements.
Comprehensive Integrations: Works with multiple business tools to streamline operations.
User-Friendly Interface: Offers an intuitive online and mobile banking experience.
Cons:
No Cash Deposits: Lacks the ability to deposit cash, which may be limiting for some businesses.
Limited Customer Support: Support is only available via email and the Novo app, with no phone assistance.
No Wire Transfers: Cannot send domestic or international wire transfers directly from the account.
Best For: Freelancers and small business owners who want a no-fee banking solution with strong integrations but don’t need to deposit cash or send wire transfers.
3. American Express Business Checking: Best for Rewards and No Monthly Fees
American Express offers a business checking account that blends interest earnings with the ability to earn Membership Rewards points.
Designed for freelancers and small business owners, this account provides a no-fee banking experience while allowing you to earn rewards on debit card purchases.
With competitive interest and a strong ATM network, it’s a solid option for those who don’t need cash deposit services.
Key Features:
Competitive Interest Rate: Earn 1.30% APY on balances up to $500,000.
No Monthly Fees: No maintenance charges or minimum balance requirements.
Membership Rewards Points: Earn 1 Membership Rewards point for every $2 spent on eligible debit card purchases.
Welcome Bonus: Receive 30,000 Membership Rewards points after qualifying activities, such as depositing $5,000 within the first 30 days and maintaining that balance for 60 days.
Extensive ATM Network: Access over 70,000 MoneyPass and Allpoint ATMs nationwide without fees.
Pros:
High-Yield Interest: Earns competitive APY on checking balances.
No Monthly Fees: Eliminates maintenance costs, making it cost-effective.
Rewards Program: Earns Membership Rewards points on debit card purchases.
Cons:
No Cash Deposits: Lacks the ability to deposit cash, which may be limiting for some businesses.
Limited International Features: No outgoing international wire transfers and a 2.7% foreign transaction fee.
Single Debit Card: Only one debit card issued per account, which may not be ideal for businesses with multiple users.
Best For: Freelancers and small business owners looking for a no-fee checking account that offers interest earnings and rewards on purchases, especially those who don’t need to deposit cash.
4. Bluevine: Best for Earning Interest on Business Checking
Bluevine is a digital banking platform designed for small businesses and freelancers who want to earn interest on their checking balances.
Unlike traditional business accounts, Bluevine offers up to 3.7% APY, helping you grow your money while managing everyday expenses.
With no monthly fees on the Standard plan and seamless integration with accounting software, it’s a solid choice for those looking to simplify their business finances.
Key Features:
High-Yield Interest: Earn up to 3.7% APY on checking balances.
No Monthly Fees: The Standard plan has no maintenance charges or minimum balance requirements.
Unlimited Transactions: No limits on deposits, withdrawals, or transfers.
Accounting Software Integration: Syncs with QuickBooks and other bookkeeping tools.
Sub-Accounts: Organize your money with multiple sub-accounts for better cash flow management.
Pros:
Competitive Interest Rates: One of the highest APYs available for a business checking account.
Fee-Free Standard Plan: No monthly charges unless you opt for a higher-tier plan.
Robust Features: Includes sub-accounts and easy bookkeeping integration.
Cons:
Higher Tiers Have Fees: The Plus and Premier plans require a monthly fee unless waiver conditions are met.
No Physical Branches: Entirely online banking with no in-person service.
Cash Deposit Limitations: Depositing cash requires third-party services, which may include fees.
Best For: Freelancers and small business owners who want a high-interest, no-fee checking account with tools to simplify accounting and cash flow management.
5. Lili Bank: Best for Freelancers Who Want Integrated Tax Tools
Lili is a digital banking platform designed specifically for freelancers and small business owners.
It offers an all-in-one solution that combines business checking, expense tracking, invoicing, and tax-saving tools—without the fees that eat into your earnings.
With no monthly charges and automated tax features, Lili makes managing unpredictable income easier.
Key Features:
No Monthly Fees: Keep more of your earnings with no maintenance charges or minimum balance requirements.
Integrated Tax Tools: Automatically categorize expenses and set aside money for taxes to simplify tax season.
High-Yield Savings: Earn 3.00% APY on your savings balance.
Invoicing Software: Create and send unlimited professional invoices directly from the app.
Fee-Free ATM Access: Withdraw cash from over 38,000 MoneyPass ATMs nationwide.
Pros:
No Monthly Fees: A true no-cost checking option with no balance requirements.
NBKC Bank offers a straightforward business checking account ideal for freelancers and small business owners seeking a fee-free banking experience with unlimited transactions.
With no monthly fees and minimal incidental charges, NBKC simplifies financial management for businesses.
Key Features:
No Monthly Fees: Enjoy banking without maintenance charges or minimum balance requirements.
International Wire Fees: Charges $45 for both incoming and outgoing international wire transfers.
Limited Physical Presence: Branch locations are limited to Kansas and Missouri, which may be inconvenient for those preferring in-person banking.
No Interest Earnings: Does not offer interest on checking account balances.
Best For: Freelancers and small business owners seeking a straightforward, fee-free checking account with unlimited transactions and minimal incidental fees, who do not require extensive physical branch access or interest earnings on deposits.
7. Chase Business Complete Banking: Best for Full-Service Banking with Branch Access
Chase Business Complete Banking is a solid choice for freelancers and small business owners who want the convenience of in-person banking with the benefits of digital tools.
With integrated payment processing, multiple ways to waive the monthly fee, and access to thousands of branches and ATMs, it’s a great option for those who handle cash or need a full-service business banking experience.
Key Features:
Monthly Service Fee: $15, waived by maintaining a $2,000 balance, meeting spending or deposit requirements, or having a linked Chase Private Client account.
Unlimited Electronic Transactions: No fees for electronic deposits and debit card purchases.
Cash Deposit Limit: Deposit up to $5,000 in cash per statement cycle without fees; additional deposits incur charges.
QuickAccept® Integration: Accept card payments through the Chase Mobile® app with same-day deposits.
Branch and ATM Access: Access over 16,000 Chase ATMs and 4,700 branches nationwide.
Pros:
Multiple Fee Waiver Options: Several ways to avoid the $15 monthly service charge.
Integrated Payment Processing: Accepts card payments directly with QuickAccept®.
Extensive Physical Presence: Thousands of branches and ATMs for easy in-person banking.
Cons:
Limited Fee-Free Cash Deposits: Only the first $5,000 in cash deposits per statement cycle are free.
Physical Transaction Limits: Up to 20 teller and paper transactions per month before fees apply.
Out-of-Network ATM Fees: Non-Chase ATMs may result in additional charges.
Best For: Freelancers and small business owners who want a full-service banking experience with in-person branch access, integrated payment processing, and multiple ways to waive the monthly fee.
EverBank’s Small Business Checking account is a solid choice for sole proprietors and single-owner LLCs looking to earn interest on their balances while avoiding unnecessary fees.
With a competitive APY and ATM fee reimbursements, it provides added value for businesses that maintain a higher balance.
Key Features:
Interest Earnings: Earn 0.50% APY on all balance tiers.
No Monthly Maintenance Fee: Waived by maintaining a $5,000 average daily balance; otherwise, a $14.95 fee applies.
Opening Deposit: Requires a minimum of $1,500 to open an account.
Transaction Allowance: First 200 transactions per month are free; a $0.25 fee applies per additional item.
ATM Fee Reimbursements: Full reimbursement of ATM fees when maintaining a $5,000 balance; up to $15 per month reimbursed for lower balances.
Pros:
Interest on All Balances: Competitive APY helps grow your funds.
Fee Waiver Options: No monthly fees if you maintain a $5,000 balance.
ATM Reimbursements: Refunds available for out-of-network ATM fees.
Cons:
High Opening Deposit: Requires $1,500 to open an account.
Balance Requirement for Fee Waiver: A $5,000 balance is needed to avoid the monthly fee.
Transaction Limits: Fees apply after 200 transactions per month.
Best For: Sole proprietors and single-owner LLCs who maintain a higher balance and want an interest-earning checking account with fee waivers and ATM reimbursements.
Why Freelancers and Gig Workers Need a Business Bank Account
Keeping personal and business finances separate makes tax season easier and helps you track income, expenses, and deductions without the headache of sorting through personal transactions. Many freelancers put off opening a business account, but waiting too long can lead to financial and tax issues down the road.
Common Myths About Business Bank Accounts
“I don’t make enough money to need a business account.”
Even if freelancing is just a side hustle for now, a separate account keeps your finances organized. It also helps build a financial history, which can be useful if you ever apply for a business loan.
“I can just use my personal account forever.”
Mixing personal and business transactions makes it harder to track income for taxes and deductions. If the IRS audits you, separating business expenses from personal ones will be a hassle.
How Banks View Freelancers Differently
Most banks classify freelancers as small businesses, even if they operate as sole proprietors. This means you may qualify for business banking perks like higher transaction limits, invoicing tools, and business credit opportunities. Some banks also offer tax and expense tracking features tailored to self-employed individuals.
Opening a business bank account isn’t just about keeping things tidy—it can also save you money, simplify taxes, and help your freelance income grow.
How to Choose the Right Bank Account for Your Freelance Business
Not all bank accounts are designed with freelancers in mind. When your income varies from month to month, and you’re juggling invoices, expenses, and taxes, you need an account that makes managing money easier—not one that piles on extra fees or restrictions. Here’s what to look for when choosing the right bank for your freelance business.
No-Fee Accounts
Freelancers don’t have the luxury of a steady paycheck, so avoiding unnecessary fees is key. Many traditional business accounts charge monthly maintenance fees, but several online banks offer free business checking with no minimum balance requirements. Look for an account that won’t charge for things like low balances, ACH transfers, or debit card transactions.
Transaction Limits
Some business accounts limit the number of free transactions per month before charging extra fees. If you send and receive payments frequently, an account with unlimited fee-free transactions will help keep costs down. Digital banks and freelancer-focused platforms often have fewer restrictions than traditional banks.
Cash Deposits
If you get paid in cash, check whether the bank allows cash deposits. Many online banks don’t support them, or they require third-party services that charge fees. If cash payments are a big part of your income, a bank with branch locations or partnerships with retail deposit networks may be a better fit.
Tax & Invoicing Tools
Some freelancer-friendly banks offer built-in tools for tax savings and invoicing. These features can help you track expenses, estimate your tax liability, and even set aside money for quarterly tax payments. Banks like Found and Lili include automated tax withholding, while others integrate with accounting software to make tax season easier.
Integrations
If you use platforms like PayPal, Stripe, or QuickBooks, make sure your bank supports seamless integration. Connecting your bank account to invoicing and payment processing tools can simplify bookkeeping and reduce manual data entry. Some banks also allow instant transfers to payment apps, making it easier to access your money when you need it.
Choosing the right bank account can save you time, money, and stress. The best option depends on how you get paid, how often you move money around, and whether you need extra tools to manage your business finances.
Extra Features to Look for in a Freelancer-Friendly Bank
Beyond the basics, some bank accounts offer features that can make managing freelance finances even easier.
ATM Fee Reimbursements
If you withdraw cash often, look for a bank that reimburses ATM fees. Many online banks don’t have their own ATM networks, but they offer unlimited or capped refunds for out-of-network withdrawals.
High-Yield Savings
Some business accounts come with high-yield savings options, allowing you to earn interest on idle cash. If you keep a balance in your account, earning even a small percentage in interest can add up over time.
Mobile Check Deposits
If you receive paper checks, a mobile deposit feature can save you a trip to the bank. Some business accounts include this at no extra charge, while others may have limits on how much you can deposit each month.
Multiple Sub-Accounts
Freelancers often need to organize money for different purposes, such as taxes, savings, and business expenses. Some banks allow you to create multiple sub-accounts within your main account, making it easier to separate funds and manage cash flow.
What to Do After Opening a Business Bank Account
Opening a business bank account is just the first step. To get the most out of it, set up systems that simplify your finances and help you stay ahead of taxes and expenses.
Set Up Direct Deposit for Clients
Freelancers often get paid through various platforms, but setting up direct deposit can make payments more predictable. If your clients offer ACH transfers, provide them with your new business account details to streamline payments and reduce reliance on third-party services that charge fees.
Automate Tax Savings
Freelancers are responsible for paying self-employment taxes, which means setting aside a portion of every payment to avoid a surprise tax bill. Some banks let you automate savings by moving a percentage of deposits into a dedicated tax sub-account. Even if your bank doesn’t offer this feature, setting up a separate savings account for taxes can make quarterly payments easier.
Track Expenses from Day One
Separating business and personal expenses makes tax time much simpler. Use your business account for all freelance-related transactions, and take advantage of built-in expense tracking tools or link your account to bookkeeping software. Many freelancer-friendly banks offer features that categorize spending, making it easier to claim deductions.
Build a Financial Buffer
Freelance income isn’t always steady, so it’s smart to build a cushion for slow months. Some banks offer sub-accounts that let you set aside money for savings, emergencies, or future business investments. Even setting aside a small percentage of each payment can help you stay financially stable when work slows down.
Final Thoughts
Choosing the right bank account is an important step for freelancers who want to simplify their finances. A good account helps you avoid fees, track expenses, and stay on top of tax obligations—all while keeping business and personal funds separate.
Look for an account that matches the way you work, whether that means easy integrations with payment platforms, built-in tax tools, or high-yield savings options. A little planning now can save you time and stress later.
Dawn is a personal finance writer with extensive experience in finance, technology, real estate, and small business. She specializes in making complex financial topics easy to understand.
