The best sole proprietorship bank accounts come with free or easily waivable monthly fees and extend services such as domestic and international wires, automated clearing house (ACH), merchant services, and software integrations to make banking more affordable and convenient. As a sole proprietor, partnering with the right bank builds a strong financial management system for your business. This is a key component when running an entity with one member.
After reviewing many business banks, here are best business bank accounts for sole proprietorships, with links directly to the provider’s websites:
- Found Provider is a financial technology (fintech) platform backed by and Federal Deposit Insurance Corp. (FDIC)-insured through a supporting bank partnership with Choice Financial Group or Sunrise Banks, N.A. : Best overall for sole proprietors needing integrated checking and bookkeeping
- 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 : Best for earning interest on deposits and low fees
- U.S. Bank Member FDIC : Best free business checking from a traditional bank
- North One Provider is a financial technology (fintech) platform backed by and Federal Deposit Insurance Corp. (FDIC)-insured through a supporting bank partnership with Bancorp Inc. : Best for small businesses looking for a low-cost concierge bank
- Chase Member FDIC : Best for full-service banking and in-person customer service
- Novo Provider is a financial technology (fintech) platform backed by and Federal Deposit Insurance Corp. (FDIC)-insured through a supporting bank partnership with Middlesex Federal Savings. : Best for sole proprietorships needing rapid access to funds and faster payments
- Lili Provider is a financial technology (fintech) platform backed by and Federal Deposit Insurance Corp. (FDIC)-insured through a supporting bank partnership with Choice Financial Group or Sunrise Banks N.A. : Best for sole proprietors needing digital tax preparation assistance
- Relay Provider is a financial technology (fintech) platform backed by and Federal Deposit Insurance Corp. (FDIC)-insured through a supporting bank partnership with Thread Bank. : Best for sole proprietors seeking financial organization
Best Sole Proprietorship Business Bank Accounts At a Glance
Found: Best Overall for Sole Proprietors Needing Integrated Checking and Bookkeeping
What We Like
- No monthly fees, minimum balances, account fees, and sign-up fees
- Excellent expense tracking on both its desktop and mobile apps
- Helps you track tax write-offs and gives you real-time tax estimates
Drawbacks
- No lending products
- Interest earning only through paid-tier Found Plus
- Cannot purchase checks or issue them from the app
Features
- Provides a business debit Mastercard, which allows you to track expenses and receive purchase alerts
- Debit cards can be frozen in the Found app
- Desktop and mobile apps
- Connect to accounting software and payment apps, such as Cash App, PayPal, Square, Venmo, and Stripe
- Integrated bookkeeping allows you to categorize expenses, customize invoices, capture receipts, and set custom rules
- Track tax write-offs in the app
- View your tax estimate update in real-time
- Pay your taxes directly from the app
- Send your Schedule C directly from the app
- Allows cash deposits at over 80,000 retail locations
- Customer service via email, online form, and support guides on the website
 | |
|---|---|
Required Opening Deposit | None |
Required Balance Minimum | None |
Transaction Limit Before Fees | Unlimited |
ACH Fees | None |
Monthly Fees | None |
Domestic Wire Transfer Fees | Free incoming wires; outgoing wires only sent to Found customers |
International Wire Fees | Unavailable |
ATM Fees | Found doesn’t charge for ATM usage; third-party ATM fees will likely apply |
Cash Deposited | Accepted at over 80,000 retail locations; $2 fee per cash deposit |
APY | N/A |
*Found is a business fintech platform backed by FDIC-insured Piermont Bank. | |
Why We Like Found
Found is our overall best business bank for sole proprietors. It has an all-in-one banking solution that streamlines financial management.
Features include the following:
- A checking account with no monthly fees and unlimited transactions
- Internal bookkeeping tools integrated directly into online banking, allowing you to categorize expenses, capture receipts, and set custom rules
- Unlimited free and customizable invoicing
- Multiple options for invoice payments through payment apps like Cash App, PayPal, Square, and Venmo
- Tax pockets that allow you to save money for quarterly or annual tax payments; automation allows income to be allocated based on percentages between your primary and your tax pockets
Other Benefits
Built-in tax management is a huge perk for sole proprietors. Found’s contractor management allows you to request and manage W-9s,1099 payment reports,1099 NECs, and more. When tax time rolls around, Found provides robust tax tracking and preparation software, allowing you to pay your tax bill along with completing and paying your Schedule C directly in the app.
If you’re looking for an interest-earning option, Found Plus is offering a 30-day free trial Once the free trial ends, the cost for the account is either $19.99 monthly or $149.99 annually on an interest-bearing account. The current interest rate is 1.5% APY on balances up to $20,000.
This account also includes autoimporting of expenses from receipts and activity imports from banks, credit cards, Venmo, and PayPal. It comes with upgraded customer support, in-app quarterly federal tax payments, and free tax filing through Column Tax with the Found Plus annual plan Once the free trial ends, the cost for the account is either $19.99 monthly or $149.99 annually . See our Found business checking review for more information.
User Reviews
When I was reading through the reviews on Trustpilot[1]—where Found has an excellent rating of 4 out of 5—I noticed a majority of them are positive. Business owners love how many free perks the accounts have. One business owner even commented, “This is how business banking should be.”
Bluevine: Best for Earning Interest on Deposits and Low Fees
What We Like
- $300 sign-up bonus for new business checking account holders (use referral code: FSM300) How to earn the bonus: To earn the $300 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 12/31/2024 using the referral code above. After opening the account, customers must add funds within 30 days, then meet at least one of the following eligibility requirements every 30 days for the next 90 days from account funding: Deposit at least $5,000 from eligible merchant services to your Bluevine account, Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers, or Spend at least $2,000 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®
- Three checking options with competitive interest
- Integrates with QuickBooks
- Unlimited 1.5% cash back business Mastercard
Drawbacks
- No savings, money market, and certificate of deposit (CD) accounts
- No physical branch locations
- Fee for depositing cash
Features
- No monthly maintenance fee
- No minimum balance requirement
- Reduced standard payment fees for Bluevine Plus and Bluevine Premier checking
- Free debit card (with up to 4 free additional debit cards for authorized users) and two free checkbook orders per year
- Integrates with QuickBooks and Xero
- Connects with business payment solutions, including Wise, Venmo, and Expensify
- Has live customer support from dedicated professionals
- Offers line of credit & credit card product
- Automatic transfers with sub-accounts
 | |
|---|---|
Required Opening Deposit | None |
Required Balance Minimum | None |
Transaction Limit Before Fees | Unlimited |
ACH Fees | None |
Monthly Fees | None |
Domestic Wire Transfer Fees | Incoming: $0 Outgoing: $15 |
International Wire Transfer Fees | Incoming: $15 Outgoing (USD): $25 Outgoing (non-USD): $25 plus 1.5% |
ATM Fees | None at MoneyPass locations nationally; $2.50 plus operator fees for nonnetwork ATM use |
Cash Deposited |
|
APY | 1.5% on qualifying balances up to $250,000 |
Bluevine is a business fintech platform backed by FDIC-insured Coastal Community Bank. | |
Why We Like Bluevine
Bluevine is one of our top recommended online business banks. It’s great for business owners that collect funds electronically since it’s an online-only business model. With Bluevine, sole proprietors can do the following:
- Earn interest on qualifying balances
- Send payments to 32 countries in various currencies
- Deposit up to $3 million that’s insured with partner relationships
Other Benefits
Bluevine has two additional premium accounts to choose from: Bluevine Plus and Bluevine Premier. The main advantage over the standard account is priority customer support on both accounts and access to treasury services on the Premier account.
The APY also grows higher with each account upgrade. Plus is currently paying 3.0% Bluevine Plus customers will earn 3.0% APY on total Bluevine Business Checking balances up to $250,000. No interest is earned on balances over $250,000. Any interest accrued and payable for an account or subaccount will be paid to your main account. and Premier 4.25% Bluevine Premier customers will earn 4.25% APY on total Bluevine Business Checking balances up to $3,000,000. No interest is earned on balances over $3,000,000. Any interest accrued and payable for an account or subaccount will be paid to your main account. . Both accounts have waivable monthly fees. For more in-depth information, check out our Bluevine business checking review.
Bluevine also has the best business line of credit product of the dozens we’ve reviewed. As long as you have been in business for at least 24 months, a personal credit score of at least 625, and more than $10,000 in monthly revenue and $120,000 in annual revenue, you can qualify for the weekly repayment plan line of credit in minutes.
User Reviews
I reviewed quite a few of the comments on Trustpilot[2] for Bluevine. Overall, Trustpilot gives it 4.3 out of 5 stars. Many left great reviews on how easy it was to get help with account issues when reaching out to the customer support team, and several of the support team members were mentioned by name in the reviews since they did such a great job at solving the issue at hand.
Other customers were pleased with the online banking experience and how easy it was to transfer money internally and between banks. Many mentioned that the subaccounts were very helpful in segmenting funds for other purposes. Overall, customers are pleased with all the free features of the accounts and love how simple it is to get the account up and running.
U.S. Bank: Best for Free Business Checking From a Traditional Bank
What We Like
- No monthly fee
- Free mobile check deposits
- Apply in person, online, or by phone
Drawbacks
- Expensive wire fees
- Limited free transactions
Features
- Send and receive money through app
- Digital invoicing and payment systems integrated into your online dashboard
- Mobile app to monitor all of your accounts, transfer funds between accounts, and deposit checks online
- Easy integration with overdraft protection or credit card processing services for your business
- Free debit card and 50% discount on first check order with Deluxe up to $50
- Integrations with QuickBooks and U.S. Bank Payment Processing
- Customer service online, by phone, or in-branch during business hours
- Other products include lending and cash flow products, other checking options, and point-of-sale (POS) services
Why We Like U.S. Bank
Sole proprietors needing access to an in-person bank account will likely find a good fit with U.S. Bank. The Silver Business Checking has many great options for those looking for a budget-friendly account. This account is available nationwide and tops our list of the best small business checking accounts. With it, sole proprietors can enjoy:
- No monthly maintenance fees or minimum balances
- 125 free transactions and 25 units 25 free cash deposit units per statement cycle. Cash deposit units are calculated by dividing each cash deposit amount by 100 and rounding the resulting value to a whole number. To determine rounding, less than $.50/$50 is rounded down and more than or equal to $.50/$50 is rounded up. Any deposit less than $150 equals one unit. of cash deposits per statement cycle
- Shared access for employees
- 50% off your first check order up to $50
Other Benefits
U.S. Bank has five different business bank accounts to choose from: four are traditional accounts, and one is for nonprofit organizations. The monthly fee for upgrading to one of the premium business accounts is between $20 and $30 monthly, depending on the account you choose. This fee can be waived by meeting the individual qualifying requirements based on the account type.
The bank also has a large ATM network, 24/7 customer support, and a large variety of credit card options for business owners. With such a huge variety of benefits, you’ll be able to find an account that’s right for you.
User Reviews
For U.S. Bank, I used WalletHub[3] since there were a larger number of reviews to consider. The final score is 3.9 out of 5 stars. Users like the credit card programs that partner with different stores for rewards points. Partners such as Harley-Davidson and Kroger have yielded some happy customers. Many expressed concerns related to customer service and issues resolving problems quickly.
North One: Best for Small Businesses Looking for a Low-cost Concierge Bank
What We Like
- Two business account options
- No monthly fee for North One Standard
- No minimum balance requirement
- Free invoicing
Drawbacks
- No branches for in-person banking
- Fees for cash deposits
- Unwaivable monthly fee for North One Plus account
Features
- Two checking accounts to choose from
- Same day ACH
- Bill pay
- $0 to receive a domestic wire
- Two free ATM withdrawals per month
- Banking for teams
- QuickBooks integration
- Envelopes budgeting system
| |
|---|---|
Required Opening Deposit | $50 |
Required Balance Minimum | $0 |
Monthly Maintenance Fee | $0 |
Transaction Limit Before Fees | Unlimited |
Domestic Wire Transfer Fees | $0 incoming $20 outgoing |
International Wire Fees | N/A |
ATM Fees | Reimbursement of one monthly transaction; third-party fees apply to all other transactions |
Cash Deposited | Cash accepted at Green Dot locations for a $4.95 transaction fee |
APY | N/A |
Customer Service | Available through the app |
Other Products | Business line of credit, business term loan, around 60 software integrations, physical and virtual debit cards |
Why We Like North One
North One has included treasury products in its business account that are usually only found in the upgraded versions of online banking with other banks. With North One, these products are included at little or no cost, providing sole proprietors and small businesses with an affordable bank account. There are also two accounts to choose from, making North One a good option for future business growth. It also offers sole proprietors the following:
- Same day ACH
- Real-time synch with QuickBooks
- Mobile check deposit
- Wires
- Envelopes budgeting system
Other Benefits
North One offers lending options to business owners. It has a minimum requirement of $10,000, with a lending cap of $250,000. In addition, its online banking has enhanced bookkeeping and accounting tools to save time and costs. Its online revenue dashboard is also very robust, showing transactions and income deposits at a glance.
With the low fee schedule and many upgrades, North One has a great product line for sole proprietors. For more information, read our North One business checking review.
User Reviews
For North One, I searched Trustpilot[4]. It is rated 4.4 out of 5 stars. Many customer service agents are mentioned by name since the situation was handled so well. There were only a handful of negative reviews. The few I found had a response offering a resolution. Also, the positive reviews had replies to the customer thanking them for their feedback and for choosing North One.
Chase: Best for Full-service Banking and In-person Customer Service
What We Like
- $300 bonus when you open an account
- Multiple ways to waive the monthly fee
- Branch presence in 48 states
Drawbacks
- Limited number of free transactions
- Does not earn interest
- Fee for cash deposits of more than $5,000 per statement period
FeaturesPricing
- Built-in card acceptance with QuickAccept℠ via the Chase Mobile® app
- Manage debit, deposit, and ATM card settings for individual employees
- Deposit checks, view account balances, pay bills, and make transfers through the mobile app
- Integrates with QuickBooks and other leading accounting software
- Free debit card, mailed within 10 business days of application approval
- Physical checks’ costs depend on type ordered
- Chase Payment Solutions
- Live customer support online or in branch during business hours
- Other products include business savings, CDs, lending products, credit cards, merchant services, and collection services
 | |
|---|---|
Required Opening Deposit | None |
Required Balance Minimum | None |
Transaction Limit Before Fees | 20, then 40 cents per transaction |
ACH Fees | $2.50 per item for first 10 payments & 15 cents for succeeding payments 1% of transaction for same-day ACH or $25 per transaction, whichever is less. |
Monthly Fees | $15; waivable if conditions are met |
Domestic Wire Transfer Fees | Incoming: $15 Outgoing: Up to $35 |
International Wire Transfer Fees | Incoming: $15 Outgoing: Up to $50 |
ATM Fees | $3 at non-Chase ATMs, plus ATM operator fees |
Cash Deposited | $5,000 free per month, then $2.50 per $1,000 |
APY | N/A |
Why We Like Chase
Chase is one of our favorite in-person banks. It has a presence in 48 mainland states, making it available to most of the nation. It offers three different accounts to choose from, which allows business owners to pick the one that’s the best fit for them.
In addition, Chase provides the following:
- Full-service business banking in person and online
- Business savings, credit cards, line of credit, POS systems, and industry-specific payment portals designed for medical offices and restaurants
- Money management integrations
Other Benefits
Chase currently holds the title of the largest bank in the US. It has branches in every state except Alaska and Hawaii. There is also a huge network of ATMs totaling more than 16,000.
Chase is currently offering the opportunity to earn a cashback bonus by opening an account and completing qualifying activities. See Chase’s website or our guide to the best business bank account promotions for details. For more information regarding Chase’s business products, read our Chase Business Complete Banking review.
User Reviews
I read reviews on WalletHub[5] for Chase. It has nearly 28,000 reviews, so there were plenty to choose from. The overall score is 3.8 out of 5 stars. Many were pleased with the credit card program and loved the rewards attached to them.
There were also a few negative reviews to consider. Some stated their accounts were allegedly frozen or closed without a good explanation even after contacting customer service. Overall, the reviews were positive, with most users enjoying their experience.
Novo: Best for Sole Proprietorships Needing Rapid Access to Funds & Faster Payments
What We Like
Drawbacks
Features
Why We Like Novo
Novo is one of the best banks for sole proprietors specializing in ecommerce or collecting most of their payments electronically. With the Novo Boost program, you can receive payouts up to two days faster.
Novo also features the following:
- Monthly ATM reimbursement up to $7 per statement cycle, making withdrawals more affordable
- No monthly maintenance fee, no minimum balance requirement, no transaction limits, and no minimum opening balance
Other Benefits
Novo integrates with Stripe, Square, PayPal, Apple Pay, Google Pay, and Venmo. These integrations make money transfers fast and easy with shorter wait times than most banks. Adding Express ACH will also speed up money transfers.
It does not have provisions for check orders; however, you can have a check sent through the app. To make segmenting funds easier, Novo allows up to 10 reserve accounts. Read our Novo business checking review to see if the provider is a good fit.
User Reviews
Novo’s reviews were taken from Trustpilot[6]. Overall, it has 4.4 stars out of 5, which is an excellent score. Many expressed how pleased they are with the service they received with their business account. Other comments mentioned how helpful reserves are for allocating funds or setting them aside for special projects. Finding a negative review was a little harder. A few customers felt support was slow and accounts were closed without a good explanation.
Lili: Best for Sole Proprietors Needing Digital Tax Preparation Assistance
What We Like
- No monthly fees for basic tier
- 3.65% APY on savings accounts
- Paid plans provide tax preparation assistance and bookkeeping tools
Drawbacks
- No physical locations
- Some of the best features are in higher-tier accounts
- Outgoing wire transfers are $15
Features
- Free Visa business debit card The Lili Visa® Debit Cards is issued by Sunrise Banks N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc..
- Mobile banking
- Unlimited invoice creation (Lili Smart and Lili Premium)
- Prefilled tax forms (Lili Smart and Lili Premium)
- Bookkeeping solutions (Lili Pro, Lili Smart, and Lili Premium)
- Two days early payment via direct deposit
- Integrations with QuickBooks, Venmo, PayPal, and CashApp, among others
- Toll-free phone support Monday through Friday, 9 a.m. to 7 p.m. Eastern time, and by email
- Lili Pro available for $9 per month
 | |
|---|---|
Required Opening Deposit | None |
Required Balance Minimum | None |
Transaction Limit Before Fees | Unlimited |
Monthly Fees | None |
Domestic Wire Transfer Fees | Incoming: $0 Outgoing: $15 |
International Wire Fees | Not supported |
ATM Fees | None at 38,000 MoneyPass ATMs (third-party ATM fees may apply); $2.50 for out-of-network |
Cash Deposited | $4.95 fee per transaction, available through Green Dot retail locations |
APY | None |
*Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC. | |
Why We Like Lili
Lili is one of the best options for sole proprietors looking for some additional help with tax preparation. Users have access to the following:
- Four different account types organized in a tier format
- No required opening deposit, minimum balance, or monthly fee
- Savings accounts paying 4.15% APY with balances up to $100,000 under the upgraded account types
Other Benefits
Lili partners with Green Dot, allowing access to 90,000 different deposit locations. It also partners with MoneyPass ATMs, allowing for customer withdrawals at no cost. Domestic incoming wires are free, and you can get electronic payouts up to two days early.
Lili is a financial institution a business can grow with since it has four accounts set up in tiers. As businesses grow, they can move up to the next tier for more access to business products and services. Check out our review of Lili business checking to learn what each account provides.
User Reviews
To get a good overview of Lili, I reviewed Trustpilot[7]. Lili has the highest rating I’ve noticed to date. It came in at 4.7, with 86% of reviewers giving it 5 stars. Most customers are very pleased with the service they received and love the app and all the perks it’s loaded with.
It was difficult to find recent negative reviews. The few seemed to involve paperwork issues. Lili offered a resolution to every issue with courteous comments, even thanking the positive reviewers for their time.
Relay: Best for Sole Proprietors Seeking Financial Organization
What We Like
- Up to $3 million in FDIC coverage
- 24/7 customer support
- Spending limits customizable for team members
Drawbacks
- No lending options
- No physical branches
- Paid plan required for faster ACH
Features
- Create up to 20 checking and two savings accounts
- Payments via ACH transfer
- 50 virtual or physical debit cards
- Free withdrawals at Allpoint ATMs
- QuickBooks and Xero integration
- Upgraded account has many business organization tools
- Access to accountants and bookkeepers
 | |
|---|---|
Required Opening Deposit | $0 |
Required Minimum Balance | $0 |
Monthly Maintenance Fee | $0 |
Transaction Limit Before Fees | Unlimited |
Domestic Wire Transfer Fees | Incoming: $0 Outgoing: $5 |
International Wire Transfer Fees | Incoming: $0 Outgoing: $10 |
ATM Fees | None at Allpoint ATMs |
Cash Deposited | No cash deposits accepted |
APY | N/A |
Customer Service | Chat available through the site |
Other Products | Receipt management capture, robust business banking with bill pay, accounting organization tools, software integrations |
Why We Like Relay
Relay has many tools available to help streamline accounting and bookkeeping tasks. You can have up to 50 physical or virtual debit cards with up to 20 checking accounts. These features allow you to segment funds for upcoming expenses like taxes, payroll, or special projects. When using team banking, you have the ability to set permissions with spending limits for each team member.
Relay users also enjoy the following:
- Accounting software integrations with real-time updates
- High FDIC insurance limits over the standard $250,000
- Same-day ACH available with upgraded account types
Other Benefits
If you upgrade to the Pro account, you have access to many more financial management tools. These include free domestic and international wires, employee-level access for transaction approval, batch bill payments, and 50 same-day ACH transfers.
Relay also offers savings accounts with 1 to 3% interest based on account balances. Read our Relay business checking review for more information.
User Reviews
Relay has an excellent 4.5 out of 5 rating with Trustpilot[8]. Many commented on the excellent customer service they received. Others love the online banking experience and the fact that they can connect with their external banks for easier money management. Negative reviews are mainly related to accounts frozen or issues with funds. Relay has replied to every comment and offered a resolution to any that needed further assistance.
How We Evaluated the Best Business Bank Accounts for Sole Proprietorships
To determine the best sole proprietorship business bank accounts, I first reviewed their introductory checking account to compare banks against one another. I also considered the following information:
- Required opening deposit
- Access to in-person branches
- ATM network
- Software integrations
- Size of bank footprint
- Perks that come with each account
- ACH and wire availability
- Convenience features for one-person business operation
- Low monthly maintenance fees
- Transaction limits
- Fees for cash deposits
- Other products offered such as savings accounts and loans
- Interest earning accounts
- Access to customer service
- Customer reviews
What You Need to Open a Business Bank Account
Opening a bank account for a sole proprietorship will be different from other entities. As a sole proprietor, you have the option to use an assumed business name or work under your personal name. If you use an assumed name, you will need documentation confirming you can use the business name chosen.
Also, a sole proprietor can decide if they want to register for an Employee Identification Number (EIN) or if they want to work under their Social Security Number (SSN). Which scenario you pick will largely determine the documents needed to open the account.
Additional Resources for Sole Proprietorships
When opening an account, you will likely have other questions regarding the formation of your business. We have a number of articles geared toward sole proprietorship that you may find helpful:
- If you’re trying to decide which entity type is the best fit for your business, check out our guide to what a sole proprietorship is. It includes examples of business types that make good sole proprietorships. This will help you decide if a sole proprietorship is a good fit for you. You can also check out our article on sole proprietorship pros and cons.
- If you’re unsure whether your company should be an LLC or a sole proprietor, see our single-member LLC vs sole proprietorship comparison.
- If you’re looking for a credit card for your business, check out our roundup of the best sole proprietorship business cards.
- Sole proprietors cannot be employees of their own companies and will never receive a paycheck. Check out our guide to self-employed payroll for guidance.
Frequently Asked Questions (FAQs)
The type of account you choose for your business will depend on many factors. If you have a business that needs access to in-branch services such as cash deposits, you may want to consider a traditional bank. If you mainly collect funds via electronic sources, you can consider some of the online options. The choice you make will depend on the business model you choose.
No. A sole proprietorship can operate in two different ways for tax purposes. You can register for an EIN or work under your SSN. Banks do not require you to have an EIN to open a business account as a sole proprietor. If you plan to expand, it may be a good idea to register early on so that you have everything in place for future business growth.
A sole proprietorship is one of the business structures that’s considered self-employed. There are many different entities that are considered self-employed—some business owners file as a corporation, others as an LLC or an S-corp.
Bottom Line
There are many different banks listed in this buyer’s guide that have great options for sole proprietors—there are traditional banks with in-person services and online-only banking models. The structure and income goals of your business will help you determine which of these banks is the best fit. The most important aspect is choosing an account that offers all the features you need to operate your business as a sole proprietor.
User review references:
[1]Trustpilot | Found
[2]Trustpilot | Bluevine
[3]WalletHub | U.S. Bank
[4]Trustpilot | NorthOne
[5]WalletHub | Chase
[6]Trustpilot | Novo
[7]Trustpilot | Lili
[8]Trustpilot | Relay
