The Best Business Bank Accounts for LLCs in 2025
· 11 min read
Picking the “best” business bank account is a lot like picking a software framework: the right answer depends entirely on the job, your specific constraints, and what you’ll need six months from now. There is no single winner. Instead of a ranked list, what you really need is a guide that matches your business model to the right banking tool.
Below is a practical, up-to-date guide to choosing the right account for your LLC. We'll explore eight strong options grouped by use case, not by hype. Where relevant, I’ll note the key fees, APY, and operational quirks you’ll actually feel in your day-to-day work.
Heads‑up on fintechs vs. banks: Several popular options below are financial-technology platforms that work with FDIC-insured partner banks; they aren’t themselves banks. This is a crucial distinction. Always read the fine print on how your funds are covered, especially regarding deposit sweep programs designed to extend insurance.
What to Look For (The Fast Checklist)
Before diving into specific names, know what to look for. These five factors will guide 90% of your decision.
- Monthly Cost & Waivers: The most obvious factor. A '$15' monthly fee might not sound like much, but it adds up. Look for accounts with a '$0' monthly fee or clear, achievable ways to waive it, such as maintaining a minimum balance or meeting transaction activity goals. Pay close attention to caps on free transactions or cash deposits, as exceeding them can trigger surprise charges.
- Cash vs. Digital Operations: How does money actually move in your business? If you handle physical cash (e.g., retail, food service), convenient and low-cost cash deposits are non-negotiable. If your operations are purely digital, prioritize features like seamless ACH and wire transfers, unlimited virtual cards, and easy-to-create sub-accounts for budgeting.
- APY & Treasury Management: Don't let your operating cash sit idle. Some modern business checking accounts pay a competitive Annual Percentage Yield (APY), turning your checking account into a modest revenue stream. For larger balances, look for accounts offering sweep or treasury options that automatically move excess funds into higher-yield, government-backed securities. Always understand the requirements to earn the advertised rates.
- Features that Scale with You: Your banking needs will evolve. Look for an account that grows with you. Key features include multi-user controls for your team, the ability to issue physical and virtual cards with set spending limits, sub-accounts to implement systems like "Profit First," and direct integrations with your accounting software (like QuickBooks, Xero, or Gusto). A solid mobile app is a must.
- FDIC Insurance Coverage: The standard FDIC insurance limit is '$250,000' per depositor, per bank. As your business grows, your cash balance might exceed this. Many fintech platforms partner with a network of banks to offer extended coverage via sweep networks, spreading your deposits across multiple institutions to insure millions. Confirm the coverage caps and understand the conditions of these programs.
Eight Strong Picks by Use Case
Bluevine Business Checking — Best for High APY on Checking
- Why it stands out: Bluevine makes your cash work for you. Its Standard plan has no monthly fees and pays a competitive 1.5% APY on balances as long as you meet simple monthly activity requirements. If you have higher balances and more activity, you can upgrade to their Plus or Premier plans for an APY of up to 3.7%. Another major benefit is its extended FDIC protection of up to '$3' million through a partner sweep network.
- Good to know: While Bluevine is an online-first platform, it accommodates cash deposits through partner locations like Green Dot and Allpoint+ ATMs. Be aware of the fees, which typically include a '$4.95' fee at Green Dot retailers or a variable fee at Allpoint+ ATMs.
Mercury — Best for Venture-Backed Startups & Remote-First Teams
- Why it stands out: Built for modern, tech-focused companies, Mercury offers a completely online experience from start to finish. It excels with its clean user interface, robust payment tools (ACH, checks, wires), and powerful multi-user controls. Its standout feature for well-funded startups is the Mercury Vault, which provides extended FDIC coverage up to '$5' million by sweeping funds across its partner-bank network (including Choice Financial Group and Column N.A.).
- Good to know: It's important to remember that Mercury is a fintech platform, not a bank. The FDIC insurance is passed through from its partner banks. Mercury is not built for cash-based businesses; it does not accept physical cash deposits, and checks must be deposited via its mobile app.
Relay — Best for “Profit First” and Cash-Flow Clarity
- Why it stands out: Relay is designed for business owners who want a crystal-clear view of their finances. You can create up to 20 individual checking accounts at no extra cost, making it incredibly easy to implement the "Profit First" methodology or create dedicated accounts for taxes, payroll, and operating expenses. It also allows you to issue up to 50 virtual or physical debit cards. For idle cash, Relay offers savings accounts with a well-advertised APY of up to 3.03% and provides FDIC coverage up to '$3' million via its sweep program with Thread Bank.
- Good to know: Like Mercury, Relay is a fintech whose banking services are provided by Thread Bank (Member FDIC). Be sure to review the sweep program details to understand how the pass-through FDIC insurance works.
Axos Basic Business Checking — Best No-Fee Online Bank
- Why it stands out: If you want the security and structure of a direct bank without the fees, Axos is a top contender. Its Basic Business Checking account has no monthly maintenance fees, unlimited transactions, and unlimited domestic ATM fee reimbursements. It also includes free domestic incoming wires, making it a powerful and truly free option for many LLCs. As a chartered bank, Axos also offers optional expanded FDIC coverage through the IntraFi network.
- Good to know: Axos frequently runs new-customer promotions and offers. It's always a good idea to confirm the current terms and bonuses directly on their site before you sign up.
Chase Business Complete Banking — Best for Branch Access + Built-in Card Acceptance
- Why it stands out: For businesses that need a physical presence, Chase's nationwide network of branches and ATMs is hard to beat. The Business Complete Banking account integrates QuickAccept, allowing you to take credit card payments directly through the Chase Mobile app. The '$15' monthly fee is straightforward to waive through several methods, including maintaining a minimum balance or meeting purchase requirements.
- Good to know: Chase has a tiered system of business accounts. The fee schedules, transaction allowances, and free cash deposit limits vary significantly between tiers. Always download and review the latest fee schedule PDF before committing to ensure the account matches your transaction volume.
U.S. Bank Silver Business Checking — Best for Low Volume + '$0' Monthly Fee
- Why it stands out: If you want a traditional, big-name bank but don't want to worry about monthly fees, the U.S. Bank Silver Business Checking account is an excellent choice. It charges '$0' in monthly maintenance fees and provides 125 free transactions and 25 free cash-deposit units per statement cycle. It’s a solid, no-frills option for new or low-volume businesses.
- Good to know: As your business scales, you can easily upgrade to U.S. Bank's Gold or Platinum tiers, which offer higher transaction allowances and more advanced features. Keep an eye on the fee schedules for these higher tiers.
Bank of America Business Advantage — Best for Integrated Services & Large Network
- Why it stands out: Bank of America offers another vast branch network and excels at rewarding customers for deeper relationships. Its Business Advantage accounts (Fundamentals and Relationship) offer multiple ways to avoid the monthly fee, including maintaining a minimum balance, hitting a monthly debit card spending target, or qualifying for their Preferred Rewards for Business program.
- Good to know: The specific rules for waiving fees can be complex. Before opening an account, check the current "fees at a glance" PDF on their website to confirm the exact waiver requirements for the plan you're considering.
Novo — Best for Simple, Fee-Light Digital Banking with Built-in Tools
- Why it stands out: Novo is a fintech platform focused on simplicity and utility for freelancers and small business owners. It has no monthly fees or minimum balance requirements and reimburses all ATM fees (up to a monthly cap). Its standout features are the built-in tools, including "Reserves" for budgeting (similar to sub-accounts), free invoicing, and integrations with popular business tools. All deposits are FDIC-insured via its partner bank, Middlesex Federal Savings.
- Good to know: Novo is not designed for businesses that handle physical cash. It does not support direct cash deposits, so you'll need to plan for workarounds like using a money order if cash is part of your workflow.
How to Decide in 10 Minutes
Feeling overwhelmed? Use this quick guide to narrow your choices.
- If you want to earn high interest on your operating cash: Start with Bluevine. If you also need advanced budgeting with multiple accounts, check Relay.
- If you’re a startup optimizing for speed and digital controls (and don't handle cash): Look at Mercury or Relay. Just be sure to verify your industry is eligible on their platforms.
- If you take cash or need in-person services: Your best bets are Chase, U.S. Bank, or Bank of America. Compare their fee waiver rules and, most importantly, their limits on free cash deposits.
- If you just want a reliable "no monthly fee" account from an actual bank: Go with Axos Basic Business Checking. It's a straightforward and powerful workhorse.
Opening an LLC Account: Documents & Compliance Notes
Opening your account is usually straightforward, but preparation is key.
- Bring the Basics: You will almost certainly need your Employer Identification Number (EIN) from the IRS, your articles of organization, and your company's operating agreement. You will also need your personal government-issued ID and potentially a business license or DBA ("doing business as") registration if applicable. Each bank's checklist can vary slightly, so confirm what you need before you go to a branch or start an online application.
- Know the BOI Landscape: The rules around Beneficial Ownership Information (BOI) reporting have been in flux throughout 2025 due to ongoing litigation and new rulemaking. This regulation requires many LLCs to report information about their owners to the Financial Crimes Enforcement Network (FinCEN). Check FinCEN.gov for the latest status and deadlines before you open or make changes to your business accounts.
A Few Pro Tips
- Don’t over-optimize for APY at the cost of friction. A high-yield account is useless if it creates operational headaches. If your team needs to make frequent cash deposits or visit a branch for notary services, the convenience of a traditional bank will easily outweigh a percentage point of interest.
- Model your actual fees. Don't just look at the advertised monthly fee. Review your last 90 days of business activity. Count your ACH transfers, wire payments, cash deposits, and card transactions. The account that looks cheapest on paper might not be the cheapest for your specific usage pattern.
- Check the terms of extended FDIC coverage. Sweep programs are a fantastic innovation for protecting large balances, but they aren't magic. They operate with specific partner banks and have conditions. Read the fine print to understand how your money is being managed and protected.
- Evaluate onboarding promotions last. A '$300' sign-up bonus is great, but it's a one-time perk. Don't let a short-term offer lock you into an account that will cost you more in fees or frustration over the long term. The right long-term fit is always more valuable.
Methodology (Short & Honest)
This list was compiled by prioritizing factors that matter to running a real business: transparent fees and waiver rules, practical options for cash deposits or credible digital alternatives, features that help a business scale (like sub-accounts and user controls), and either a high APY on checking or meaningful extended FDIC coverage. All information was sourced from each provider’s public-facing pages and official U.S. small business resources. Terms change frequently, so always verify final details on the product page you intend to use.
TL;DR
- APY Chasers: Bluevine
- Startups (Remote-First, No Cash): Mercury or Relay
- In-Person & Cash-Friendly: Chase, U.S. Bank, Bank of America
- No-Fee Workhorse (Bank): Axos
- Simple & Tool-Rich (Fintech): Novo
Ultimately, the best choice is the one that matches your transaction patterns today—and supports your team’s reality six months from now.
