9 Best Bank Accounts for Self-Employed Professionals in 2025

The best bank accounts for self-employed professionals and freelancers should offer low or no monthly fees, mobile access, and easy integration with tools like QuickBooks and Stripe. Key features essential in self-employed banking include ACH transfers, bill pay, wire payments, and scalable solutions that support business growth and evolving financial needs.

I’ve ranked the top nine best bank accounts for self-employed professionals based on cost, features, and overall value.

• Bluevine Provider is a financial technology (fintech) platform backed by and Federal Deposit Insurance Corp. (FDIC)-insured through a supporting bank partnership with Coastal Community Bank. : Overall best bank for self-employed with high APY checking and line of credit
• Relay Relay is a financial technology company, not a bank. Banking services and FDIC insurance are provided through Thread Bank; Member FDIC : Best for collaborative banking tools and expense management
• Novo Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Middlesex Federal Savings. : Best for prioritizing fast payments and app integrations
• Found Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Piermont Bank. : Best for built-in tax tools and automated bookkeeping
• Lili Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC. : Best for new freelancers needing digital tax preparation assistance
• Chase Member FDIC : Best for in-person banking and branch access
• Mercury Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Choice Financial Group and Evolve Bank & Trust ®️; Members FDIC : Best for tech-focused solopreneurs needing free USD international wires
• Baselane Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Thread Bank; Member FDIC : Best for landlords seeking rent collection and property management tools
• NorthOne Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with The Bancorp Bank; Member FDIC. : Best for business owners needing budgeting tools and integrations

Why you can trust Fit Small Business

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Best bank accounts for self-employed professionals at a glance

Bluevine: Overall best bank for self-employed with high APY checking & line of credit

When to choose Bluevine

• You want to earn interest from a business checking account: The Bluevine Standard business checking account lets you earn 1.5% APY on balances up to $250,000 if you spend $500 a month using Bluevine’s debit card or credit card or receive $2,500 in customer payments monthly.
• You need access to business financing: As your business grows, you might need a line of credit, and Bluevine tops our list of the best small business lines of credit. This is why it is also one of our leading banks for small business loans.
• You seek to save on standard banking fees: Bluevine doesn’t have monthly fees, minimum balance requirements, and monthly transaction limits. It also offers reduced wires and ACH transfer fees if you sign up for its premium plans, making it one of the most affordable business accounts for self-employed professionals.
• You want to protect business funds: Bluevine deposits are covered by FDIC insurance up to $3 million through Coastal Community Bank, Member FDIC, and other partner banks. If you’re managing larger cash reserves, it’s one of the safest business accounts for self-employed professionals.

When to choose an alternative

• You deposit cash regularly: One of the few drawbacks to Bluevine is the cost of cash deposits. Business owners dealing with cash often should consider traditional banks with several physical locations, such as Chase.

Relay: Best for collaborative banking tools and expense management

When to choose Relay

• You need multi-user access for your team or accountant: Relay lets you assign logins for your accountant or bookkeeper and team members, with customizable user roles and permissions to ensure the right level of access for each.
• You need access to multiple debit cards for team members: Relay allows you to issue up to 50 physical or virtual debit cards per business, which you can easily assign to individual team members. In addition, you can set custom spending limits and monitor team expenses.
• You want to use mobile receipt capture: By using the camera on your smartphone, you can capture and store physical receipts to streamline bookkeeping and make monthly reconciliation fast and easy.

When to choose an alternative

• You need both checking and lending options: If your business requires a full-service bank that offers both checking and financing solutions, Chase is a strong choice. With a wide range of products for businesses at every stage, it lets you grow your operations and upgrade as your needs grow.

Novo: Best for prioritizing fast payments and app integrations

When to choose Novo

• You accept payments through Stripe: If you accept payments from Stripe, Novo Boost lets you receive payments sent from your Stripe account faster than others.
• You send and receive ACH payments regularly: Novo’s Express ACH enables you to accept or send same-day ACH payments. Combining Novo Boost and Express ACH gives you faster access to your money than other digital-only providers, an important feature for self-employed banking where cash flow timing matters.
• You want seamless app integrations: Novo is the best business bank account for connecting with popular platforms like Stripe, Square, PayPal, Shopify, and QuickBooks. It lets you accept payments via card, Apple Pay, Google Pay, PayPal, or Venmo, making it ideal if you rely on digital tools to get paid faster and want to manage finances efficiently.
• You want access to budgeting tools: As a freelancer, Novo Reserves lets you allocate funds for taxes, payroll, profit, and expenses by creating up to 20 custom categories tailored to your business needs.

When to choose an alternative

• You seek a line of credit: Novo only offers MCAs, so I recommend going with Bluevine if you seek access to working capital.

Found: Best for built-in tax tools and automated bookkeeping

When to choose Found

• You need budgeting and tax support: Found’s budgeting features and built-in tax tools make it a strong contender among the best business accounts for self-employed individuals. It helps estimate tax liability, allows direct tax payments, and even files your Schedule C, all from the app.
• You seek built-in bookkeeping tools: You can categorize expenses, capture receipts, and set custom rules directly within the app to streamline your financial tracking.
• You want customizable, professional invoicing: Found is one of the best banks for freelancers seeking all-in-one financial management since it lets you send unlimited free invoices, personalize them with your logo and brand colors, and accept payments through popular apps like PayPal and Cash App.
• You want fee-free ATM withdrawals and an option for cash deposits: Found does not charge an ATM fee when you withdraw cash, although third-party operator fees may apply. You can also make cash deposits at over 77,000 retail locations, and eligible customers can deposit checks directly through the app.

When to choose an alternative

• You want overdraft protection: Found does not allow you to overdraft your account, whereas Lili provides a discretionary overdraft program when you upgrade to any of its premium plans. At Lili’s discretion, it issues overdraft limits up to $200.

Lili: Best for new freelancers needing digital tax preparation assistance

When to choose Lili

• You want an account that grows with your business: Lili starts with a free Basic plan and offers three upgrade options, Lili Pro, Lili Smart, and Lili Premium. As your business evolves, you can move to a higher-tier plan, unlocking features such as savings^ⓘ interest, cashback rewards, and overdraft protection.
• You seek tax preparation tools inside the app: With Lili Pro or higher, you get access to built-in tax tools that help track potential write-offs, set aside money using a tax bucket, scan receipts, generate expense reports, and even complete your Schedule C directly in the app, making tax season far less stressful for first-time freelancers and independent contractors to stay organized and prepare for quarterly tax payments.
• You prefer to earn interest on your savings: Lili’s paid tiers (Pro, Smart, and Premium) include a savings account that earns 3% APY on balances up to $1 million and up, helping you grow funds passively.
• You operate under various business structures: Whether you’re a sole proprietor or running a multimember LLC, S-corp, C-corp, general partnership, or LLP, Lili can support your business.

When to choose an alternative

• You need physical checkbooks: Unfortunately, Lili does not offer physical checkbooks. Similar to Bluevine, you can deposit cash, but it must be done through Green Dot retail locations for $4.95 per transaction. Chase is an excellent option that issues checkbooks and allows fee-free deposits of up to $5,000 at all its branches.

Chase: Best for in-person banking and branch access

When to choose Chase

• You require a full-service traditional bank: Chase is a great choice if you want access to branches, merchant services, and robust digital tools. It offers three excellent business checking products, all with waivable monthly fees once criteria are met. Read our comparison of Chase’s business checking accounts to find the right fit for your business needs. You may also want to see our list of the best Chase business credit cards.
• You want a fee-free cash deposit allowance: With up to $5,000 in fee-free cash deposits per month, Chase is a go-to business bank account for self-employed individuals who handle cash regularly.
• You need a premium business checking account: The highest-tier account, Platinum Business Checking, is the best premium business checking account on the market and comes with a waivable $95 monthly fee. Read our Chase Platinum Business Checking review to learn more about its features and determine if it fits your needs.

When to choose an alternative

• You exceed paper transaction limits: Chase Business Complete Banking only allows teller or paper transactions of 20 each month. Consider other traditional banks, such as those in our roundup of the best banks for small businesses.

Mercury: Best for tech-focused solopreneurs needing free USD international wires

When to choose Mercury

• You want modern self-employed banking with free international USD wires: Mercury offers fee-free domestic wires and international USD transfers through the SWIFT network. This makes it a strong contender for anyone needing a reliable business bank account for self-employed or freelance operations.
• You prefer intuitive digital tools over traditional banking: With a sleek dashboard, virtual cards, and robust expense controls, Mercury stands out among the best banks for freelancers and solopreneurs for those wanting complete online control of their finances. It also integrates with QuickBooks and provides API access for automation.
• You want FDIC protection and no monthly fees: Mercury has no monthly fees, overdraft charges, and minimum balance requirements, making it one of the most affordable business accounts for self-employed professionals seeking simplicity and security in a digital banking experience.

When to choose an alternative

• You need to deposit cash or use ATMs: Mercury does not support cash deposits or ATM withdrawals. Self-employed professionals who handle physical cash or prefer in-person support should consider traditional providers, such as Chase.

Baselane Checking: Best for landlords seeking rent collection and property management tools

When to choose Baselane Checking

• You want integrated rent collection with your business bank account: Baselane is tailored for property managers and self-employed landlords. It offers free rent collection, automated late fees, income and expense tracking, and property dashboards, all important features for self-employed banking in real estate.
• You manage multiple properties and want categorized finances: Baselane allows you to create sub-accounts for each property and issue virtual cards, simplifying financial tracking in a single business account.
• You want free checking with no hidden fees: As one of the most affordable business accounts for self-employed property owners, Baselane has no monthly maintenance fees, overdraft fees, and minimum balance requirements, which is ideal for budget-conscious landlords.

When to choose an alternative

• You want physical branch access or cash deposit capabilities: As a digital-only solution, Baselane doesn’t support in-person banking or ATM usage. If you prefer traditional services, consider a bank with brick-and-mortar locations like Chase.

North One: Best for business owners needing budgeting tools and integrations

When to choose North One

• You want an efficient budgeting tool: North One’s Envelopes feature lets you allocate funds for taxes, payroll, supplies, or savings, which is perfect if you manage irregular income and need to plan ahead for expenses and tax obligations.
• You need fast payments and app integrations: North One integrates with over 50 apps, including QuickBooks, Shopify, and PayPal, making it an ideal business bank account for self-employed professionals who rely on automation and juggle multiple income streams or eCommerce platforms.
• You prioritize mobile experience: As one of the top-rated mobile apps in self-employed banking, North One is optimal for freelancers and solopreneurs who manage their finances on the go. You can send payments, track spending, and access your account 24/7, all from your phone.
• You want to earn an APY: North One helps your business savings grow by offering 2.5% APY on its standard checking account and 3.0% APY under its paid tier, which is beneficial if you want to set aside funds while earning interest.

When to choose an alternative

• You want access to in-person service: North One is a digital-only provider with no physical branches. If you prefer the option to visit a branch, speak with a banker face-to-face, or handle transactions in person, I recommend a traditional bank like Chase, which has a strong nationwide branch network.

How I evaluated the best self-employed bank accounts

To find the best bank accounts for self-employed professionals, I focused on the practical needs of freelancers, independent contractors, and sole proprietors who often manage their finances without a full-time bookkeeper. The goal was to highlight self-employed banking solutions that reduce friction and offer real value.

• Account cost: Bank accounts were reviewed for overall affordability, including monthly maintenance fees, waiver options, and minimum opening deposits. These factors are essential in any business bank account for self-employed individuals to keep overhead low and cash flow flexible.
• Transaction flexibility: I examined how each account manages transaction volume, with a focus on fees and penalties for exceeding limits, an important factor in self-employed banking, where income and expenses often vary month to month.
• Business tools and integrations: I prioritized accounts with built-in tools like invoicing, automatic expense tracking, and tax estimation, features that simplify financial management. I also assessed integration with platforms like QuickBooks, Stripe, and PayPal, which are essential for freelancers handling multiple income streams.
• Long-term financial support: Accounts were evaluated for added benefits, such as interest-bearing balances, access to small business loans or credit lines, and the ability to scale with business growth.
• Customer service and usability: I assessed the responsiveness and accessibility of customer support, as well as overall platform ease of use. This includes mobile and desktop functionality, critical for self-employed users managing business finances on the go.

Each bank was analyzed using current information from official websites and product disclosures available as of April 2025 and was evaluated based on its fit for business accounts for self-employed professionals.

How to choose a self-employed bank account

While I used Fit Small Business’s criteria to select the best self-employed banking providers, there are some important factors you should review before making your decision. For a broader overview, check out our full guide on how to choose a bank for your small business.

Decide if you actually need a business bank account.

If you’re a freelancer, sole proprietor, or independent contractor, you’re not legally required to have a business bank account, but I still recommend it. Separating your business and personal finances makes bookkeeping easier, keeps you organized during tax season, and presents a more professional image to clients. It also simplifies expense tracking and helps protect your personal finances in case of a legal dispute or audit.

Review fees, APY, ATM access, and app ratings.

Fees can add up quickly for the self-employed, so look for accounts with no or low monthly fees, minimal transaction charges, and few restrictions. If you’re planning to carry a balance, check whether the account earns interest and if there are any requirements to qualify. Also consider ATM access, especially fee reimbursements if the bank doesn’t have a large ATM network.

Mobile banking is often the primary way freelancers manage their money, so ensure the bank’s mobile app is highly rated. It should let you deposit checks, send transfers, and monitor your account with ease. For our top picks, see the best small business checking accounts.

Look for integrated invoicing and expense tracking.

Freelancers who invoice clients or track business expenses manually can benefit from banks that include built-in invoicing and expense categorization tools. Some accounts allow you to create and send branded invoices, track payments, and even accept payments directly through the app. These features help you stay organized and reduce the need for additional software.

Check for tax tools made for freelancers.

One of the most challenging parts of being self-employed is staying ahead of your tax obligations. Look for banks that offer tax estimates, automated savings buckets for tax withholding, and even tools to generate or file forms like Schedule C. If the bank doesn’t offer these, see if it integrates well with third-party tax software.

Consider software integrations.

A top-tier business bank account for self-employed professionals should sync easily with QuickBooks, Stripe, PayPal, Shopify, or Square. Integrations reduce manual work and make self-employed banking much smoother.

What you need to open a business bank account

Each provider on this list may require different documents. Generally, you will need:

• Employer identification number (EIN) or Social Security number (SSN) if you’re a sole proprietor
• Fictitious business name certificate or doing-business-as (DBA) certificate
• Business formation documents
• Organization documents, including your ownership agreements
• Business licenses
• Government-issued photo ID, such as a passport or driver’s license

Frequently asked questions (FAQs)

How many bank accounts can you have at once?

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Can freelancers open a business bank account?

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Can I use my personal bank account if I'm self-employed?

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What type of bank account does a sole proprietor or a freelancer need?

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Bottom line

All of the providers in this guide can help freelancers or self-employed business owners manage their business finances while providing resources for growth. Some offer financial management tools that enhance business efficiency, such as accounting and invoicing, tax preparation, and expense tracking. Consider what you need in a business bank account before choosing the best bank for freelancers.