Why your LLC needs a separate bank account
The moment your LLC is approved, the state treats it as a legal entity separate from you. That separation only holds up if you keep finances separate. Commingling personal and business funds — even occasionally — gives creditors and courts grounds to pierce the corporate veil, making you personally liable for LLC debts. A dedicated LLC bank account is the simplest way to protect that liability shield.
Beyond legal protection, a business account makes bookkeeping, tax filing, and contractor payments dramatically easier. Most accounting software connects directly to business checking accounts, automatically categorizing transactions and generating reports you or your CPA can use at tax time.
The 5 best LLC bank accounts in 2026
- Mercury — Best overall for online-first LLCs ($0 fees, FDIC insured)
- Relay — Best for cash-flow management and multi-account budgeting ($0 fees)
- Chase Business Complete Checking — Best for in-person banking ($15/mo, waivable)
- Bank of America Business Advantage — Best for relationship banking and higher balances
- Bluevine Business Checking — Best for earning interest (2.0% APY)
Mercury: best for tech startups and online businesses
Mercury is a fintech-backed business bank (banking services through Evolve Bank & Trust and Choice Financial Group, FDIC insured) built specifically for startups and online businesses. There are no monthly fees, no minimum balance requirements, and no transaction limits. You get a business debit card, free domestic and international wires after month 12, virtual cards, and API access for automated financial workflows.
Onboarding is entirely online — you can open an account in under 10 minutes with your LLC's EIN and Articles of Organization. For solo founders and small LLCs that operate primarily online, Mercury is the default best choice. Mercury also offers a savings account with competitive rates and a treasury product for balances above $500K.
Relay: best for cash flow management (Profit First friendly)
Relay stands out for its sub-account system — you can open up to 20 individual checking accounts and 50 savings accounts under one business. This is the go-to bank for LLC owners following the Profit First cash management method. Each sub-account can have its own debit card, making it easy to allocate funds for taxes, payroll, operating expenses, and profit separately.
Relay has no monthly fees on its standard plan, no minimum balances, and integrates directly with QuickBooks, Xero, Gusto, and Stripe. A Relay Pro plan at $30/month adds same-day ACH and priority support. Banking is provided by Thread Bank, FDIC insured.
Chase Business Complete: best for in-person banking
Chase is the largest bank in the United States. Its Business Complete Checking account is the go-to for LLC owners who need physical branch access, cash deposits, or the credibility of a traditional bank. The $15 monthly fee is waived if you maintain a $2,000 minimum daily balance or link a Chase Ink credit card.
Chase offers 20 free teller transactions per month, same-day access to deposited funds, free Chase QuickAccept mobile card reader, and QuickBooks integration. The 4,700-branch and 16,000-ATM network is unmatched. If your LLC handles significant cash or you frequently work with vendors who prefer checks, Chase is the practical choice.
Bank of America Business Advantage: best for larger LLCs
Bank of America's Business Advantage Fundamentals Banking account ($16/month, waivable with $5,000 average monthly balance) is designed for established LLCs with higher balances. BofA offers a robust rewards program through Business Advantage Relationship Rewards, which provides bonus interest rates, lower loan rates, and fee reductions when your combined balances are high.
For multi-member LLCs that need business credit cards, lines of credit, merchant services, and payroll all from one institution, Bank of America offers a compelling bundled relationship. The nationwide branch network is comparable to Chase.
Bluevine: best high-yield LLC checking
Bluevine offers a fee-free business checking account that pays 2.0% APY on balances up to $250,000 when you meet monthly qualifying activities — spend $500/month on the Bluevine debit card or receive $2,500/month in customer payments. That interest rate is among the highest available on a business checking account. Bluevine integrates with QuickBooks and Xero, and provides access to 37,000+ MoneyPass ATMs.
Documents needed to open an LLC bank account
- LLC Articles of Organization (filed with your state)
- EIN confirmation letter from the IRS (get yours free at irs.gov — takes 5 minutes)
- Operating Agreement (required by some banks, recommended by all)
- Government-issued photo ID (driver's license or passport)
- Social Security Number or ITIN for identity verification
- Business address and phone number
- Names and SSNs of all members owning 25%+ (FinCEN beneficial ownership rules)
Which LLC bank account is right for your business type?
- Freelancers and solo online businesses: Mercury — zero fees, fast setup, seamless tools
- Agencies and service businesses: Relay — sub-accounts make project budgeting easy
- Retail, restaurant, or cash-heavy LLCs: Chase — branch access and cash deposits essential
- LLCs with $10K+ operating balances: Bank of America Relationship Banking
- LLCs that carry large cash reserves: Bluevine — earn 2.0% APY on your checking balance
- Real estate holding LLCs: Mercury or Relay — low overhead, easy multi-entity management
- E-commerce LLCs: Mercury — best API integrations and virtual card support
Our recommendation
For most new LLCs — especially those formed online in Wyoming, Delaware, or another favorable state — Mercury is the default best choice. It takes 10 minutes to open, has zero fees, and works seamlessly with the tools most online business owners already use. If you want better cash-flow visibility or follow the Profit First system, choose Relay instead.
If you run a business that regularly deposits cash or needs in-person banking, Chase Business Complete Checking is worth the $15/month (or waive it with a $2,000 balance). And if your LLC consistently holds more than $50,000 in operating cash, Bluevine's 2.0% APY will outpace whatever you'd earn parking money in a traditional savings account.
Don’t want to file yourself? Northwest Registered Agent files your LLC for $39 + state fee and acts as your registered agent the first year free.
Frequently asked questions
Do I need a separate bank account for my LLC?
A separate bank account is not legally required in most states, but it is practically essential. Commingling personal and business funds is the most common reason courts pierce the corporate veil and hold LLC members personally liable. A business account also makes bookkeeping and tax filing far simpler.
Can I use a personal bank account for my LLC?
Technically yes, but it puts your liability protection at risk and creates accounting headaches. Most banks also prohibit using personal accounts for business purposes in their terms of service, which can result in account closure if flagged.
What is the best bank account for a single-member LLC?
Mercury is the top pick for single-member LLCs — no fees, no minimums, and opens entirely online. Bluevine is a strong alternative if you maintain a higher balance and want to earn interest on it.
Do I need an EIN to open a business bank account?
Yes. All major banks require an EIN to open a business checking account for an LLC. You can get a free EIN from the IRS website in about 5 minutes at irs.gov. Single-member LLCs are eligible even without employees.
Which bank is best for a new LLC with no revenue yet?
Mercury or Relay — both have no monthly fees, no minimum balance requirements, and no transaction minimums. You can open an account the same day your LLC is approved and start using it with a $0 balance.
Is Mercury safe for an LLC bank account?
Yes. Mercury's banking services are provided by Evolve Bank & Trust and Choice Financial Group, both FDIC-insured. Deposits are insured up to $250,000 per depositor. Mercury also offers expanded FDIC coverage through its Treasury product for larger balances.
Mercury vs Relay for an LLC — which is better?
Mercury if you want the simplest setup and best integrations for a typical online LLC. Relay if you want multiple sub-accounts for budgeting (especially if you use Profit First) or run an agency with multiple client projects. Both are free and FDIC-insured.
When should I open an LLC bank account?
As soon as your LLC is approved by the state and you have received your EIN from the IRS. Do not conduct any business transactions through your personal account after your LLC is formed — the liability protection clock starts when you start operating separately.