Best Business Bank Accounts for LLCs 2026 — Novo vs Bluevine vs Lili vs Mercury vs Relay

Data verified: 2026-05-08. Pricing changes frequently — verify against each provider's website before purchasing.

Monthly fee

$0/month

APY / yield

None — no interest on balances

FDIC coverage

$250K FDIC via Middlesex Federal Savings

Wire / ACH fees

ACH: free (unlimited); wire transfers: not supported; express ACH: $0.99 each; no outgoing domestic wire capability

Support channels

Email, In-app chat

Trust signal

FDIC via Middlesex Federal Savings; Novo Reserves (up to 5 tax/savings buckets); integrations with Stripe, Square, Shopify, QuickBooks, FreshBooks; 4.5★ App Store; $125K+ in partner perks; mobile-first design built for freelancers and e-commerce

Key differentiator

Novo is mobile-first and built for freelancers, solo consultants, and e-commerce operators who receive payments digitally via Stripe, Square, or Shopify. Novo Reserves lets you earmark funds for taxes, payroll, or savings goals within your main account — up to 5 reserved buckets with no extra account required. No monthly fee, no minimum balance, no transaction limits. Partner perks include credits at Stripe, Zendesk, HubSpot, Google Ads, and Salesforce totaling $125,000+. Critical weakness: Novo does not support outgoing domestic wire transfers — all payments must go via ACH or card, which works for most digital businesses but is a blocker for real estate, construction, or vendors requiring wire payment. No interest earned on balances.

Verdict

Best for freelancers and e-commerce: $0/mo, deep Stripe/Shopify/Square integrations, Novo Reserves for tax buckets — no outgoing wire, no interest

Monthly fee

$0/month (waived w/ $20K+ balance)

APY / yield

2% APY on balances up to $250K

FDIC coverage

$3M FDIC pass-through (Business Plus); $250K standard

Wire / ACH fees

ACH: free (unlimited transactions); outgoing domestic wire: $15 each; incoming wire: free; business line of credit up to $250K available separately

Support channels

Phone, Email, Live chat

Trust signal

FDIC via Coastal Community Bank; 2% APY on checking balances up to $250K (highest in class); line of credit up to $250K; unlimited transactions; Trustpilot 4.3★; FDIC pass-through to $3M on Business Plus tier

Key differentiator

Bluevine's standout feature is interest on checking balances — 2% APY on balances up to $250K, the highest yield on a business checking account in this comparison. For LLCs holding significant cash reserves (inventory float, payroll reserves, project escrow), this yield advantage compounds quickly on idle capital. The monthly fee is waived when you maintain a $20,000 average monthly balance; below that threshold a fee applies. Unlimited transactions with no per-transaction charge. A business line of credit up to $250K is available as a separate product — making Bluevine the only neobank in this comparison offering credit. Integrations with QuickBooks, Xero, and Stripe. Weakness: the $20K balance requirement to waive fees and the $15 outgoing wire cost are higher barriers than competitors.

Verdict

Best for high-cash-balance LLCs: 2% APY on balances up to $250K turns idle operating capital into meaningful yield — requires $20K avg balance to waive fee

Monthly fee

$0/month (Free) · $17/month (Pro)

APY / yield

None (Free); 1% APY on savings (Pro)

FDIC coverage

$250K FDIC via Choice Financial Group

Wire / ACH fees

ACH: free; wire transfers: limited (lower transfer limits than competitors); built-in expense categorization and automatic tax bucketing per deposit

Support channels

Email, In-app chat, Phone (Pro)

Trust signal

FDIC via Choice Financial Group; built for freelancers and SMBs; automatic tax bucketing (configurable % withheld per deposit); accountant collaboration tools; expense categorization; receipt capture; 4.5★ App Store; integrations with QuickBooks and FreshBooks

Key differentiator

Lili is the most tax-aware business bank account in this comparison — purpose-built for freelancers and small LLC owners who pay quarterly estimated taxes and want their bank to handle the bookkeeping. The tax bucketing feature automatically withholds a configurable percentage from every deposit into a dedicated tax reserve. Accountant collaboration tools let your CPA or bookkeeper connect directly to your Lili account for categorized expense reporting, receipt sync, and year-end review — without needing to export CSV files. The free tier covers essential banking; Pro ($17/mo) adds a savings account with 1% APY, priority support, and unlimited expense categorization. Weakness: lower transfer limits than Mercury or Relay and fewer brand-name integrations (no native Stripe connect, no Shopify).

Verdict

Best for solo freelancers: automatic tax bucketing, accountant collaboration, and expense categorization — built around the self-employed cash-flow cycle

Monthly fee

$0/month

APY / yield

Treasury yields via sweep program (rate-variable)

FDIC coverage

Up to $5M FDIC via Treasury sweep (Choice Financial + Evolve Bank)

Wire / ACH fees

Domestic wire transfers: free; ACH: free (unlimited); incoming international wire: free; virtual cards included; API-first banking platform

Support channels

Email, Live chat, In-app support

Trust signal

Used by 200,000+ startups; YC-backed ecosystem integrations; FDIC via Choice Financial Group and Evolve Bank & Trust; 4.7★ App Store; API-first platform; no monthly fees; free domestic wires; Treasury sweep extends FDIC to $5M

Key differentiator

Mercury is the default business bank for venture-backed startups and tech-forward LLCs. Free domestic wire transfers set it apart from every competitor in this comparison — critical for paying contractors, vendors, or making disbursements without per-wire fees. The Treasury sweep program extends FDIC coverage up to $5 million by distributing funds across a network of partner banks at no additional cost. Savings Vaults let you earmark capital for taxes, payroll, or reserves within the main account. Virtual cards included free. Integrations with Stripe, QuickBooks, Xero, Gusto, and Zapier. Treasury yields are available via the sweep program but vary with the rate environment. Weakness: Mercury requires an LLC, corporation, or registered entity — sole proprietors are not eligible. Onboarding KYC is more rigorous than competitors and some applications are delayed or declined during review.

Verdict

Best for tech startups and capital-raised LLCs: free wires, up to $5M FDIC sweep, virtual cards, and top-tier integrations — LLC or corp required, sole props ineligible

Monthly fee

$0/month (Free) · $30/month (Pro)

APY / yield

None — no interest on balances

FDIC coverage

$3M FDIC pass-through (Pro); $250K (Free) via Thread Bank

Wire / ACH fees

ACH: free (unlimited); outgoing domestic wire: $5 each (Free); 2 free/month then $5 (Pro); same-day ACH: $1 each (Pro)

Support channels

Email, Live chat, Phone (Pro)

Trust signal

FDIC via Thread Bank; up to 20 checking accounts + 50 virtual debit cards per business; granular role-based permissions for team members and accountants; Profit First-compatible multi-account structure; QuickBooks and Xero deep sync; Trustpilot 4.4★; 4.6★ App Store

Key differentiator

Relay is built for LLC owners who want to implement Profit First or similar multi-account cash management systems. You can open up to 20 individual checking accounts under one business, each with its own debit card and nickname — letting you separate operating expenses, owner's pay, taxes, payroll, and project funds into distinct buckets without accounting entries. The permissions system lets you grant team members, contractors, or your accountant specific access levels (view-only, spend-limited, or full admin) across individual accounts — critical for agencies, partnerships, and businesses with employees. Pro ($30/mo) adds 50 virtual debit cards, faster ACH, and $3M FDIC pass-through via Thread Bank. Weakness: no interest on balances and fewer brand-name integrations than Mercury.

Verdict

Best for multi-bucket cash management and teams: up to 20 checking accounts, granular permissions for accountants and team members, Profit First-friendly — no interest on balances

1. Solo freelancer or self-employed → choose Lili If you operate a single-member LLC or sole proprietorship, receive payments via ACH or check, and pay quarterly estimated taxes, Lili is the right fit. The automatic tax bucketing feature withholds a configurable percentage from every deposit into a dedicated tax reserve — eliminating the end-of-quarter scramble for funds. The accountant collaboration tools let your CPA pull categorized expense data directly without you exporting anything. If you also need Stripe or Shopify integration, Novo is the alternative — but Lili's tax management toolset is stronger for the solo-freelancer use case.
2. Tech startup with raised capital → choose Mercury If your LLC has raised outside capital, regularly makes domestic wire transfers (payroll, contractor payments, vendor disbursements), or holds significant cash reserves, Mercury is the strongest option. Free domestic wires eliminate per-wire costs that compound quickly at scale. The Treasury sweep program extends FDIC coverage to $5 million — essential for startups holding raised capital above the $250K standard limit. Virtual cards are included free. Deep integrations with Stripe, QuickBooks, Xero, Gusto, and Zapier automate nearly all bookkeeping. Requirement: Mercury requires an LLC or corporation — sole proprietors are not accepted, and onboarding KYC may delay accounts for some applicants.
3. High-cash-balance LLC → choose Bluevine If your LLC regularly carries $20,000 or more in operating cash — due to inventory purchase cycles, large project escrow, payroll float, or seasonal business patterns — Bluevine's 2% APY on checking balances up to $250K is the highest-yield account in this comparison. At $100,000 in average balance, that's $2,000 per year earned on capital that would otherwise earn nothing. The $0 monthly fee is waived when you maintain a $20K average monthly balance. A business line of credit up to $250K is available as a separate Bluevine product — the only credit offering among the five banks compared. Weakness: $15/wire outgoing and the $20K balance threshold make it less competitive for low-balance LLCs.
4. Multi-bucket cash management or team-based LLC → choose Relay If you implement Profit First, manage multiple client projects with separate budgets, have employees or contractors who need spend controls, or work with an accountant who needs direct account access — Relay is the right choice. Up to 20 full checking accounts per business lets you create true cash segregation without accounting entries. Each account gets its own debit card and can be individually named (Operating Expenses, Owner's Pay, Tax Reserve, Project A, Project B). The permissions system lets you grant team members or your accountant role-specific access per account — from view-only to full admin. Free tier handles most needs; Pro ($30/mo) adds 50 virtual cards and $3M FDIC pass-through.
5. Simple flat-fee checking for e-commerce or freelancers → choose Novo If you receive payments primarily via Stripe, Square, or Shopify and want a straightforward $0/mo account with no conditions and strong e-commerce integrations, Novo is the cleanest option. Novo Reserves provides up to 5 tax and savings buckets within the main account. No minimum balance, no monthly fee, no transaction limits. Partner perks include $125,000+ in credits at Stripe, Zendesk, HubSpot, and Google Ads. The critical limitation is the absence of outgoing wire transfer capability — all payments go via ACH or card. If your business ever needs to pay by wire (real estate, certain vendors, international contractors), Mercury or Relay should be considered instead.

• EIN Application Guide — get your federal tax ID before opening a business account (required)→
• How to Pay Yourself from an LLC — owner's draw, salary, and S-Corp election guide→
• LLC Bookkeeping Guide — set up your accounts and track business expenses from day one→
• Best Accounting Software for LLCs — QuickBooks vs. Xero vs. Wave vs. FreshBooks→
• Best LLC Formation Services — ZenBusiness vs. LegalZoom vs. Bizee vs. Northwest→
• Florida LLC Formation (Miami) — next step after formation: EIN + business bank account→
• Texas LLC Formation (Austin) — EIN and business bank account setup walkthrough→
• California LLC Formation — post-formation banking and compliance guide→

FAQ

Business bank accounts for LLCs — common questions