Opening a dedicated business checking account is the single most important action to establish "corporate veil" protection and make taxes/bookkeeping a breeze.
But with countless banks, how do you choose the right one for your new LLC? The "best" account depends on your business type: do you handle a lot of cash, are you entirely online, or do you need to earn interest?
Here are the top business checking accounts for LLCs this year, categorized by what they do best, followed by a guide on how to choose.
🏆 The Best Business Checking Accounts for LLCs (Top Picks)
We've broken down the top options based on what they are best for:
| Account Provider | Best For | Key Feature/Fee Structure |
| 1. American Express Business Checking | Best Overall Online & Earning APY | No monthly fee, no minimum balance, and offers a competitive APY (up to 1.30% APY on balances up to $500k). |
| 2. Bluevine Standard Business Checking | Best for High-Volume Digital-First Businesses | No monthly fees, no minimum balance, unlimited transactions, and pays interest on qualifying balances. |
| 3. U.S. Bank Business Essentials Checking | Best for Combining Free Banking with Branch Access | $0 monthly fee, over 2,000 branch locations, and often has generous sign-up bonuses (e.g., $500 intro offer). |
| 4. Axos Business Interest Checking | Best for Earning Interest on Lower Balances | Offers 1.01% APY on balances and unlimited ATM fee reimbursements. Great for online businesses. |
| 5. Chase Business Complete Banking | Best for Businesses with Frequent Cash Deposits | Massive network of branches/ATMs and comprehensive payment processing services. Fee is waivable. |
| 6. Grasshopper Innovator Checking | Best for Startups/High-Yield Digital Banking | Pays up to 1.8% APY on checking and 1% cash back on debit card transactions. Note: No cash deposit ability. |
| 7. Relay (Relay Financial) | Best for Team Management & Expense Tracking | Offers up to 20 free checking accounts (sub-accounts) and 50 virtual/physical debit cards to manage cash flow and delegate spending easily. |
How to Choose the Right Account for Your LLC
An LLC's financial needs are unique. Before you sign up for any account, ask yourself these three critical questions:
1. What is Your Transaction and Cash Flow Profile?
- Online Only (High Transactions, No Cash): If you run an e-commerce store or a SaaS business, focus on accounts with unlimited free electronic transactions (like Amex or Bluevine) and strong integrations with accounting software (like QuickBooks or Xero). Avoid banks that charge after a low monthly limit (e.g., 100 free transactions).
- Brick-and-Mortar (Cash Heavy): If your business takes cash payments (retail, restaurant, services), you absolutely need a bank with local branches or easily accessible ATMs for cash deposits (e.g., Chase, PNC, or U.S. Bank). Look closely at the fee for cash deposits, as this is a common hidden fee.
2. How Important is Physical Access vs. Fees?
You must choose between Brick-and-Mortar and Online-Only banks.
| Feature | Brick-and-Mortar Banks (e.g., Chase, U.S. Bank) | Online-Only Banks (e.g., Bluevine, Axos, Amex) |
| Monthly Fees | Often have fees ($10–$30) that can be waived by meeting a minimum balance ($1,500–$5,000). | Most commonly free with no minimum balance required. |
| Interest (APY) | Typically low to 0.00% APY. | Often pay a competitive interest rate (APY) on checking balances. |
| Access | In-person service, physical branches, easy cash deposits. | 24/7 digital support, mobile check deposit, usually free ATM networks (but no cash deposits for some). |
If you need a human teller or deal with cash, a physical bank is necessary. If you want maximum interest and zero monthly fees, an online option is better.
3. What Additional Features Do You Need?
- Earning Interest: If you keep a high cash balance, look for accounts that offer a competitive APY (American Express, Axos, Grasshopper).
- Expense Management: If you manage a team or have complex expenses, look for platforms that offer multiple sub-accounts (like Relay) or direct integration with expense tools.
- Sign-up Bonuses: Many banks offer competitive cash bonuses ($300–$500) for opening and maintaining a balance for a few months. Use these to get a quick cash injection for your new LLC!
Key Documents You Need to Open an Account
To ensure a smooth process, have these documents ready, as they are mandatory for an LLC:
- Employer Identification Number (EIN): Issued by the IRS.
- Articles of Organization/Certificate of Formation: Filed with your state.
- LLC Operating Agreement: Required by some banks.
- Ownership Documentation: Valid IDs and SSNs for all owners/members.
Conclusion: Separate to Protect
The single best business checking account for your LLC is the one that helps you maintain a clear separation between personal and business funds, comes with minimal fees for your specific business activity (cash vs. digital), and integrates seamlessly with your accounting workflow. Start with a free online option if you are a digital business, or a free basic account from a branch bank if you handle cash.
