10 Best Business Bank Account for LLCs
Discover the top-rated and ranked LLC business bank accounts for 2024 with our guide. Unlock financial success for your business with the 10 best choices.
Business Bank Accounts
If you own an LLC, separating your private and company money is crucial. Starting a business bank account for your LLC makes your bookkeeping easier, builds trust with clients and suppliers, and shields your personal property from business-related debts.
This article will discuss the top business bank accounts for LLCs and the reasons for selecting them.
10 Best Business Bank Accounts for LLCs
- Bluevine – Best LLC Bank Account Overall
- Lili – Best for One-Person Businesses
- Novo – Best Low-Fee Business Bank Account for LLCs
- American Express – Best for Membership Rewards
- Capital One – Best for Unlimited Transactions
- Bank of America – Best for Traditional Banking
- Axos – Best Full-Service Online Bank Account for LLCs
- US Bank – Best for Lending Options
- Oxygen – Best for Freelancers
- Chase Business – Best LLC Bank Account for Merchant Service
To list the best business bank accounts for LLCs, we used a method that included various aspects. First, we checked the available account types, like checking, savings, and merchant services.
Next, we considered the costs linked to each account, including monthly fees, charges per transaction, and ATM usage fees. We also looked into the bank's reputation and the quality of customer support, such as the ease of online banking and the option for face-to-face help.
Lastly, we assessed any extra benefits or features the bank provides, such as bonus programs or protection against overdrafts. By looking at all these elements, we managed to rank business bank accounts for LLCs thoroughly and fairly.
Bluevine – Best LLC Bank Account Overall
Star rating: 4.9/5
 "Bluevine")
A Bluevine business checking account offers a comprehensive online account ideal for most small businesses. It allows you to manage bill payments, secure small loans quickly, and earn an attractive interest rate without monthly charges.
The process to apply is straightforward and quick, potentially setting up your account on the same day. These benefits broadly position Bluevine as a leading bank for startups and businesses.
Additionally, you can set up 5 sub-accounts for more effective management of your business's finances, with each sub-account receiving a unique account number. Even more appealing is the opportunity to earn interest on all accounts, with a limit of up to $100k in combined balance.
Why we chose it: Every account comes with two complimentary checkbooks. This is unusual, as free checks are not commonly provided with most business checking accounts. It’s especially beneficial for traditional small businesses that pay vendors and employees in person.
Pros:
- No monthly charges or need for an initial deposit
- Unlimited transactions without fees; no charges for overdrawing
- Free use of MoneyPass ATMs; deposit cash through the Green Dot network (with some fees and restrictions)
Cons:
- Cash deposit limits are $500 per time and $2,000 daily. Up to $4.95 charge for each Green Dot deposit
- Charges apply at ATMs outside the network
- No option for shared accounts
Fees
Bluevine does not apply maintenance, NSF (Non-Sufficient Funds), or deposit fees, offering more than what is typical in the industry. You can carry out unlimited transactions without facing extra charges. Also, Bluevine does not set minimum balance or deposit criteria.
Interest Rates
Bluevine's provides an attractive APY on its checking account, with users earning up to 1.5% on balances up to $100,000. This benefit is accessible to account holders who spend a minimum of $500 monthly with their debit card or get at least $2,500 monthly in customer payments into their checking account.
Lending
You also have access to business lines of credit up to $250,000 with interest rates starting at 4.8%. The application is quick and straightforward, often resulting in a decision within five minutes. Bluevine does not impose fees for opening, upkeep, early repayment, or closing your account.
Lili – Best LLC Bank Account for One-Person Businesses
Star rating: 4.57/5
 "Lili")
You might appreciate Lili's simplicity if you run a straightforward single-member LLC. It's a comprehensive platformthat merges banking, accounting, and tax services. Initially created for freelancers and sole proprietors, Lili has expanded to serve LLCs.
LLCs must keep their personal and business finances distinct. Lili enables you to manage both from a single bank account while still allowing you to segregate your funds within the application.
Why we chose it: It automatically creates expense reports and pre-fills your yearly tax form.
Pros:
- Includes a tool to help with taxes
- Ability to generate and send invoices
- Simple to split personal and business transactions
Cons:
- Operates online via Choice Financial Group
- Lacks lending and merchant services
- Not suitable for more considerable businesses
Fees
Lili offers its standard banking services at no cost. This includes no monthly charges, no overdraft fees, no ATM fees, and no need to maintain a minimum balance, similar to what you find with Bluevine, the best business bank account for LLCs. However, choosing Lili Pro incurs a monthly fee of $4.99 due to the extra services provided.
Interest Rates
Lili's basic services don't offer an APY. If you choose Lili Pro, you can earn up to 1% APY on a savings account. The Automatic Savings function allows you to automatically move a minimum of $1 a day into your savings account.
Lending
Lili differs significantly from traditional banks and thus offers very limited borrowing options. The only lending option available is a free overdraft of up to $200 on debit card purchases.
Novo Business Banking – Best Low-Fee Business Bank Account for LLC
Star rating: 4.8/5
 "novo")
Novo offers an excellent checking account option for small businesses thanks to its user-friendly platform, simple application procedure, and seamless digital payment capabilities.
You can fill out and submit your application in less than 10 minutes and quickly know if any information needs to be included. Once your account gets the green light and you deposit a minimum of $50, you can use your checking account.
With Novo, you get a modern account that connects your business checking with thousands of apps like Shopify, QuickBooks, and Slack, making it possible to handle all your business activities in one spot.
Access to your banking information and transactions is always at your fingertips, assisting you in managing your finances effectively. The app also provides a clear summary of your monthly expenses and income.
Why we chose it: Novo's business bank account has unlimited integrated invoicing, making it an ideal choice for freelancers, contractors, or other self-employed business owners with single-member LLCs.
Pros:
- No monthly charges or need to deposit initially
- Endless transactions without fees
-
Worldwide ATM fee reimbursement
Cons:
- No option for cash deposits
- Unable to process domestic or international wire transfers
- Bill pay does not allow for automatic recurring payments
Fees
Novo offers its checking account service free of any fees. To activate your account, you just need to make an initial deposit of $50. This bank does not impose minimum balance requirements, charges for cash deposits, fees for incoming wires, or ACH transaction fees.
Moreover, Novo reimburses all ATM fees and provides security for FDIC insurance via Middlesex Federal Savings, F.A.
Interest Rates
Novo doesn't apply any fees to its business checking account, which is similar to Bluevine. However, you won't earn interest on the deposits in your checking account, as the bank does not offer interest on these balances.
Lending
Novo provides strictly checking account services and does not extend any lending options. This means it does not offer loans, lines of credit, or business credit cards.
American Express – Best LLC Bank Account for Membership Rewards
Star rating: 4.8/5
 "American Express")
American Express Business Checking aligns with the latest trends in business banking by providing services without fees and eliminating the need for a minimum balance in its basic business checking account.
It allows for unlimited transactions through its payment services. If you were considering Kabbage for business checking, American Express has acquired Kabbage.
This makes American Express Business Checking an excellent choice for business owners seeking a line of credit and a banking solution. It facilitates straightforward approval for small business lines of credit up to $250,000 through Kabbage Funding by American Express.
Why we chose it: American Express allows businesses to personalize account options to meet their unique needs. It also implements sophisticated fraud protection strategies to safeguard against fraudulent activities and secure its clients' financial interests.
Pros:
- Simple to apply
- No requirement for a minimum balance
-
Straightforward credit line without fees for early repayment
Cons:
- Check deposits via mobile only on iOS
- Does not accept cash deposits
- Restricted to American Express customers
Fees
American Express Business Checking does not charge monthly fees or require a minimum deposit to open an account. There are also no fees for online transactions. You can use MoneyPass ATMs without any charges, but transactions at ATMs outside this network will incur a fee of approximately $3 each. American Express does not allow for cash deposits.
Interest Rates
This bank account features one of the top APYs, providing a 1.30% return on balances up to $500,000. While it doesn't match Bluevine's higher 1.5% return, American Express Business Checking's APY ranks second-highest among the options discussed.
Lending
One of the advantages of having an account with American Express is access to Kabbage Funding, which simplifies the process of obtaining approval for credit lines up to $250,000. This is an excellent choice for those without high credit scores, as approvals can be secured with a FICO score as low as 640.
Capital One – Best LLC Bank Account for Unlimited Transactions
Star rating: 4.7/5
 "Capital One")
Capital One provides two options for business checking accounts. The Basic account comes with unlimited electronic deposits, access to online and mobile banking, and requires a low minimum balance to avoid fees.
The Unlimited business bank account, which includes two Basic accounts, maybe a better choice for businesses managing more complex finances. Additionally, Capital One offers a variety of business credit cards that feature cashback or travel rewards.
These cards are particularly beneficial for international travel, as they incur no foreign transaction fees. A standout aspect of Capital One is its customer service, known for being both knowledgeable and promptly responsive.
However, it's important to note that Capital One’s business checking accounts are limited to certain states, and applying for one requires an in-person visit to a branch.
Why we chose it: Capital One provides services comparable to those of other major banks, with similar fees. Thanks to its extensive ATM network, it's an excellent choice for those who prefer in-person banking. Customers enjoy access to over 70,000 ATMs without fees in the Allpoint and MoneyPass networks.
Pros:
- Expert support from a major bank
- Do-it-yourself escrow services
-
Unlimited checking comes with two Basic accounts
Cons:
- Limited to certain states
- Need large balances to avoid fees
- Must go to a branch to open an account
Fees
Capital One's Basic Checking account carries a monthly fee of $15, higher than American Express, which charges no maintenance fee. However, this fee can be waived if the account balance is over $2,000. The account allows free cash deposits up to $5,000 monthly, with standard fees applied to wire transfers.
The Unlimited Checking account has a monthly fee of $35, which can be avoided if a minimum balance of $25,000 is maintained. This account offers unlimited free cash deposits and doesn't charge for incoming wires. Additionally, customers can make up to five free outgoing wire transfers each month.
Interest Rates
Capital One does not provide an APY for its checking account. Nonetheless, by opening a savings account, you can earn interest at a rate of 0.2%.
Lending
Capital One provides small business loans and lines of credit exclusively to customers with a checking account. They offer one of the most extensive credit lines, reaching up to $5 million. For those seeking extended repayment periods, fixed interest rates, and reduced equity requirements, Capital One also offers SBA 504 and SBA 7(a) loans.
Bank of America – Best LLC Business Bank Account for Traditional Banking
Star rating: 4.67/5
 "Bank of America")
Bank of America is a classic example of a traditional bank. Its Business Advantage Banking account has two settings, allowing you to easily adapt to changing business needs.
You can link your checking account to applications such as QuickBooks, Google Analytics, Expensify, and others, providing a comprehensive overview of your financial situation for better business decision-making.
Furthermore, Bank of America offers the expertise of Small Business Specialists who are ready to assist you throughout your business journey, regardless of your business size.
Why we chose it: Bank of America presents a solid array of business banking solutions, making it an excellent choice for businesses that handle significant cash transactions.
Pros:
- Includes payroll services
- Compatible with Zelle for money transfers
-
Syncs with accounting applications online
Cons:
- Charges high additional fees
- Costs for transactions at ATMs outside the network
- Lacks a free checking account option for businesses
Fees
Bank of America provides two distinct business checking account options: Business Advantage Fundamentals and Business Advantage Relationship Banking.
The Fundamentals account charges a $16 monthly fee, which can be waived by maintaining a $5,000 average monthly balance, making at least $250 in net new qualified debit card purchases each billing cycle, or participating in the Preferred Rewards for Business program.
For the Relationship checking account, a monthly fee of $29.95 can be waived by keeping an average monthly balance of $15,000. Opening a savings account incurs a $10 monthly fee, which can be avoided by maintaining a minimum daily balance of $2,500.
Interest Rates
Bank of America's checking account does not provide interest earnings. The business savings account yields a minimal interest of 0.01% APY, significantly lower than the 1.5% return offered by Bluevine.
Lending
Bank of America provides various lending options, including a business credit card, secured business loans ranging from $25,000 to $250,000, and secured lines of credit starting at $25,000. However, you must have a minimum credit score of 700 to qualify for these lending options.
Axos – Best Full-service Online Bank Account for LLCs
Star rating: 4.61/5
 "Axos")
Axos operates exclusively as an online bank, without any physical branches, setting it apart as an independent financial institution rather than relying on another bank. It’s frequently recognized among the top business checking accounts online for its favorable conditions and a wide array of services.
As a digital-first bank, Axos offers a user-friendly interface and experience superior to many traditional banks. It focuses on creating an excellent online platform for its clients, making it a preferred choice for small or web-based businesses.
However, the APY provided is limited to 0.20% for standard checking accounts or up to 1.01% for interest checking accounts, provided you maintain a minimum balance of $5,000.
Why we chose it: Axos Bank's Basic Business Checking comes without any monthly charges or initial deposit requirements, allowing for unlimited transactions and cash deposits through AllPoint and MoneyPass ATMs.
Additionally, the bank provides round-the-clock customer service and complimentary access to ATMs nationwide, including unlimited reimbursements for fees incurred from other banks and ATM providers in the U.S.
Pros:
- Unlimited transactions without fees
- No monthly charges or initial deposit required
- Automatically reimburses all domestic ATM fees
- Allows cash deposits at MoneyPass and AllPoint ATMs
- Provides round-the-clock customer service
- Offers a welcome bonus to new clients (conditions apply)
Cons:
- Lacks brick-and-mortar branches
- Few integration options
- APY is not the highest available
Fees
Axos provides four primary business banking account options: Basic Business Checking, Business Interest Checking, Business Savings Account, and Business Premium Savings. The Basic Business Checking account carries no monthly fee.
However, the Business Interest Checking account incurs a monthly charge of $10. The Basic Savings account has a $5 monthly fee, whereas the Business Premium Savings account does not have a monthly fee.
Interest Rates
Axos offers several options for earning interest, though the rates may be lower than those of other banks. The basic checking account does not earn any interest. For the interest-bearing checking account, the APY is 1.01%. With Axos' savings accounts, both the Basic and Premium Business Savings provide a 0.20% interest rate.
Lending
Axos Bank collaborates with Centerstone SBA Lending to assist businesses in obtaining SBA loans, which come with a federally supported guarantee and flexible terms. Additionally, Axos offers commercial lines of credit and term loans, though these financial products are most suitable for large corporations.
Additionally, they offer commercial lines of credit and term loans, although these options are more suitable for giant corporations.
US Bank – Best LLC Business Bank Account for Lending Options
Star rating: 4.5/5
 "US bank")
U.S. Bank stands out among large physical banks by offering a free business checking option. The Silver Business Checking account does not require a monthly maintenance fee or a minimum balance.
It’s suitable for businesses with a modest number of monthly transactions, like a contractor serving a single main client. With over 2,000 branches on the West Coast, US Bank is an excellent choice for small, local businesses that value face-to-face banking and personalized assistance.
As your LLC expands, U.S. Bank supports growth with small business loans (including SBA loans), payment processing solutions, cash management services, and payroll assistance.
Why we chose it: U.S. Bank offers a wide selection of products and services, with its lending options being a significant attraction. It serves well for businesses that have a low number of transactions. Consider signing up to take advantage of what they offer.
Pros:
- Can open business accounts online
- Silver Business Checking account comes without a monthly fee
- Offers varied payment processing options with extra charges
- New customers receive a welcome bonus (conditions apply)
Cons:
- Applies fees to transactions
- Large penalties for early CD withdrawals
- No interest in checking accounts and minimal interest in savings
Fees
The U.S. Bank provides three types of checking accounts. The Silver Business Checking Account does not require a monthly fee and includes 125 transactions for free each month, with each additional transaction costing $0.50.
The Gold package has a monthly fee of $20 and charges $0.45 for each transaction after surpassing 300 transactions per month. The Platinum package incurs a monthly fee of $30 and $0.40 for each transaction beyond 500 transactions monthly. Compared to Bluevine, which has no transaction fees, the charges at US Bank may seem high.
Interest Rates
The U.S. Bank does not provide interest on deposits in checking accounts. For its savings account, however, you can earn an interest rate of 0.01% APY, starting with a minimum deposit of $25.
Lending
This bank provides various borrowing solutions, such as business credit cards, lines of credit, and loans. It offers various business credit cards with benefits like cash back, no annual fees, low interest rates, and rewards programs.
Additionally, it has a broad selection of small business loans tailored to meet different business requirements. Loan amounts range up to $250,000 for Quick Online loans and up to $12.375 million for loans backed by the government.
Oxygen – Best LLC Bank Account for Freelancers
Star rating: 4/5
 "Oxygen Bank")
Oxygen's website might give the impression it's more focused on lifestyle than banking, yet it provides a digital business checking account. A no-fee account option is available, which is quite rare, and versions come with an annual fee.
Oxygen is ideally suited for freelancers seeking to keep their personal and business finances separate. Oxygen has four business checking account levels that are determined by your monthly spending or deposit activity.
The entry-level tier is free and doesn't require a minimum balance. For the higher tiers, waiving the annual fee after the first year is possible.
These accounts have several advantages, including cash back at certain retailers on purchases like food, fuel, rideshares, and shipping. You also receive a competitive interest rate on your savings.
Additional perks include cell phone insurance, lost or delayed luggage coverage, and a car rental damage waiver. The more premium accounts offer increased cashback rewards, higher savings interest rates, and extra benefits, such as airport lounge access and Netflix reimbursements.
Why we chose it: Oxygen is revolutionizing the financial services industry by providing highly attractive and feature-rich options for both personal and business banking.
Pros:
- Offers 5% cash back rewards
- Business savings accounts earn 1% APY
-
Allows creation of one-time-use virtual debit cards
Cons:
- Lacks lending services
- Being a virtual bank, does not accept cash deposits
-
Charges an enrollment fee for premium account tiers
Fees
Oxygen categorizes its services into four unique loyalty tiers: Earth, Water, Air, and Fire, each designed to support business owners in their distinctive paths to success. The Earth tier, being the foundational level, is offered without fees and includes a savings option with an APY of up to 0.50%.
The Water tier costs $19.99 annually and has various features and a 1.00% APY on savings. The Air and Fire tiers are priced at $49.99 and $199.99 per year, respectively, offering higher savings interest rates of 2.00% and 3.00% APY.
Interest Rates
Oxygen offers appealing interest rates on its savings options across its tier system. The Earth, Water, Air, and Fire tiers allow you to earn an APY of 0.50%, 1.00%, 2.00%, and 3.00%, respectively. These rates surpass those provided by Bluevine and American Express Business Checking, which offer maximum rates of 1.5% and 1.3%, respectively.
Lending
Because Oxygen operates solely as a mobile banking app and not a complete bank, it does not provide lending options.
Chase Business – Best LLC Bank Account for Merchant Service
Star rating: 3.8/5
 "Chase Business")
Chase stands out as one of the top banks in the U.S. for its wide branch network, diverse products, and excellent customer service. It provides the Chase Business Complete Banking account, which merges checking features with payment processing capabilities, making it ideal for LLCs that process credit card payments.
This eliminates the need for a separate merchant account, offering convenience and saving time. Despite its advantages, the potential for fees and its app place Chase at the lower end of our rankings, though it holds significant promise.
Those seeking a comprehensive online banking experience prefer other options, but traditional banking enthusiasts who handle cash transactions and require frequent cash deposits may find Chase appealing.
We selected it for its Chase Business Complete Checking account, which allows unlimited electronic deposits and the chance to earn a $300 sign-up bonus and a manageable $15 monthly fee.
It features Chase QuickAcceptSM, enabling credit card payment acceptance through the Chase mobile app. Furthermore, if your LLC's banking needs exceed the offerings of the Chase Business Complete Checking account, there's the flexibility to upgrade to either the Performance or Platinum Checking accounts.
Pros:
- Offers fraud protection services
- Process payments using the Chase mobile app
- Global presence with branches around the world
Cons:
- Charges higher fees
- Savings account APY is not clearly stated
- Requires a high minimum balance to eliminate fees
Fees
Chase provides three business checking account options:
- Chase Business Complete Checking charges $15 per month, which can be waived with a minimum daily balance of $2,000.
- Chase Performance Business Checking has a monthly fee of $30, waivable with a combined average beginning day balance of $35,000.
- Chase Platinum Business Checking comes with a $95 monthly fee, which can be waived with a combined average beginning-day balance of $100,000.
All these accounts include features such as a business debit card and the ability to make cash deposits at Chase's physical locations. Unlike Bluevine, however, these accounts do not offer a maintenance fee-free option.
Interest Rates
Chase Business Checking accounts do not provide any APY on deposits. Businesses can turn to Chase Business Savings to earn interest, although the specific APY details would need to be obtained directly from Chase.
Lending
Chase for Business provides multiple borrowing options. Besides its range of business credit cards, it offers small business loans and lines of credit. The available lines of credit vary from $10,000 to $500,000, and loans begin at $5,000.
Ranking Methodology for the Best Business Bank Accounts for LLCs
When evaluating business bank accounts for LLCs, it's crucial to look at various critical factors to find the account that best suits the business's requirements. Here's an outline of the method used to rank business bank accounts for LLCs:
- Fees—Often, businesses are most concerned with monthly maintenance fees and additional charges. Some banks have responded to the needs of small businesses by eliminating monthly fees under specific conditions or altogether. The ideal business checking account should refrain from imposing fees significant to your business's operations, such as offering unlimited transactions or a complimentary cash deposit each month.
- Interest Rate—Several banks provide an Annual Percentage Yield (APY) on their checking accounts, with top banks offering rates as high as 1.5%, appealing to business owners. A higher APY benefits your business, but you must be aware of possible monthly maintenance or transaction fees that could reduce your interest earnings. Interest can also be earned on savings accounts, enhancing the value of choosing the best business bank account online. The goal is to secure the highest possible interest rate.
-
Account Features—Accounts differ in the features they offer. LLCs must prioritize features crucial for their operations, including online and mobile banking capabilities, bill payment services, remote deposit, overdraft protection, and other functionalities supporting efficient financial management.
Lending—Establishing a credit history for your small business is as crucial as having a personal credit score. Business owners might require loans for various purposes, from covering payroll to purchasing new equipment. Having a business checking account with a bank can facilitate easier loan access. Building a relationship with a bank can also enhance the chances of securing a loan, especially for businesses with less-than-ideal credit. - Security—The security features of a bank account are paramount. LLCs should seek banks with robust security measures, including multi-factor authentication, encryption, and fraud detection. The bank's reputation for security and adherence to regulatory standards are also important considerations.
This method emphasizes that while national and online banks are considered, local community banks or credit unions could also be viable choices, particularly for businesses needing loans. Personal relationships with local banks can be advantageous, especially for specialized businesses.
Best Business Banking Account for LLCs – Buying Guide
For further information, this section is designed to assist with your questions.
Why LLCS Need a Business Bank Account
LLC owners must keep a separate business bank account from their personal checking account. An LLC is legally separate from its owner, offering protection from personal liability for business obligations and lawsuits.
Without this financial separation, personal assets might be targeted in legal actions. Maintaining a clear distinction between personal and business finances is a legal obligation. Combining these finances could lead a court to view the LLC as a facade, potentially making the owner personally liable.
How To Open a Bank Account As An LLC
An LLC can be established by one person or with several members. Finding a bank that supports joint accounts is crucial for LLCs with multiple members.
You will need to provide:
- Business name and address
- EIN (Employer Identification Number) or SSN if you’re a single-member LLC
- Date of LLC registration
- State where your LLC is registered
- Primary business location
- Personal information of the business owner (SSN, DOB)
What Other Documents Does the Bank Need to Open My LLC Bank Account?
Although the required documents can differ among banks, here are the typical items you may be asked to provide.
- LLC Articles of Organization or Certificate of Formation
- LLC Operating Agreement
To ensure you're fully prepared, it's wise to contact the bank or check its website to confirm all the requirements for opening a business bank account. This step can prevent unnecessary inconvenience.
Some banks may allow LLCs to open a business checking account online, while others might require all owners to meet with a banker for the application process.
Best Business Bank Accounts for LLCs – Frequently Asked Questions (FAQs)
Can I Use My Personal Bank Account for My LLC?
While it's possible, using your personal bank account for your LLC is highly discouraged. Establishing a Limited Liability Company shields your personal assets if your business faces legal issues.
However, if you continue using your personal bank account for your LLC, it becomes easier for authorities to target your personal assets.
Do I Need a Separate Bank Account For My LLC?
Starting an LLC is a step towards separating your personal and business finances because, once formed, a Limited Liability Company is recognized as a distinct legal entity from its owner. That's why opening a separate bank account for your LLC is advisable.
While not mandated by state or federal laws, having a separate bank account simplifies financial management and helps prevent future complications.
Additionally, opening a business account is straightforward, especially with free online banks such as Bluevine, allowing you to enjoy the advantages quickly.
How Much Does It Cost To Open a Business Account?
The expenses associated with opening a business checking account can differ from one bank to another. While opening the account might not incur a direct fee, you could face annual or monthly service charges.
Furthermore, certain accounts might stipulate maintaining a minimum balance, which is an additional financial consideration, although not a direct fee.
Bottom Line on Best Business Bank Accounts for LLCs
While banks might seem daunting and play a crucial role in the success of a business, you can take substantial control by researching and choosing options that align with your needs. Remember, as a small business, you're the bank's customer, and there's truth in the saying that the customer is always right.
The ideal business bank account for LLCs depends on the business's unique requirements. Nonetheless, some accounts are notable for their competitive fees, interest rates, and benefits, including Bluevine, Novo, and American Express.
Disclaimer: No Business Standard Journalist was involved in creation of this content
Topics : bank accounts
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First Published: May 10 2024 | 2:51 PM IST
