Best Business Bank Accounts 2026 — Mercury vs. Bluevine vs. Relay vs. Novo vs. Bank of America

Comparison

Business bank accounts — head to head

All figures verified against official service websites as of 2026-10-23. Prices exclude state filing fees.

Factor	Mercury	Bluevine	Relay	Novo	Bank of America Business Advantage
Monthly fee	Best
Min. opening deposit
Outgoing domestic wire	Best
Free ACH transfers
Debit card		Best
Virtual cards			Best
Sub-accounts			Best
FDIC pass-through coverage	Best
Interest on balances		Best
QuickBooks integration
Xero integration			Best
Stripe integration				Best
Signup bonus
Mobile app rating					Best
Best fit

Data verified: 2026-10-23. Pricing changes frequently — verify against each provider's website before purchasing.

Pick a business bank account

Open the right business bank account for your LLC

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Mercury

$0/month

Mercury is the default business bank for venture-backed startups and solo LLC operators who want $0 fees with powerful software. Sub-accounts (Savings Vaults) let you earmark funds for taxes and expenses without opening separate accounts. Virtual cards are included free. Integrations with Stripe, QuickBooks, Xero, Gusto, and Zapier mean your accounting is nearly automated. The Treasury product extends FDIC coverage up to $5M through a sweep network of partner banks — far above the $250K standard limit. Wire transfers cost $5 outgoing (free incoming). No minimum balance, no transaction limits, no monthly fee.

Bluevine

$0/month (Standard)

Bluevine's standout feature is interest on checking balances — Standard tier earns 2.0% APY, Premier ($30/mo) earns 4.25% APY up to $3M. For LLCs holding significant cash reserves (inventory, payroll float, project escrow), this yield advantage easily offsets the Premier fee. Standard tier also includes 5 sub-accounts and a Bluevine Business Cashback Mastercard with 1.5% cashback on purchases. FDIC coverage extends to $3M on Premier via sweep to partner banks. Wire transfers cost $15 each on Standard (free 2/month on Premier). Integrations with QuickBooks, Xero, and Stripe. Best fit: cash-carrying businesses that want their idle operating capital to earn meaningful yield.

Relay

$0/month (Free tier)

Relay is built for LLC owners who want to implement the Profit First or similar multi-account cash management system. You can open up to 20 individual checking accounts under one business, each with its own debit card — letting you separate operating expenses, taxes, owner's pay, payroll, and project funds into distinct buckets without accounting entries. Pro ($30/mo) adds 50 virtual debit cards, faster ACH, and $3M FDIC pass-through. Deep integrations with QuickBooks, Xero, and Gusto make it a complete bookkeeping hub. Wire transfers cost $5 each on Free tier. No minimum balance, no monthly fee on Free. Best fit: team-based LLCs, agencies, contractors managing multiple client projects, or Profit First practitioners.

Novo

$0/month

Novo is purpose-built for freelancers, solo consultants, and e-commerce operators who primarily receive payments digitally (Stripe, Square, Shopify) and pay expenses by ACH or card. Novo Reserves allows you to set aside money for taxes, savings, or a specific goal within your main account — up to 5 reserved buckets. Partner perks include credits at Stripe, Zendesk, HubSpot, Google Ads, and Salesforce worth $125,000+. Critical limitation: Novo does not support outgoing domestic wire transfers — payments must go via ACH or card, which works for most digital businesses but is a blocker for real estate, construction, and vendors who require wire payment. $250K FDIC standard (no sweep program).

Found

$0/month (Free) · $19.99/mo (Plus)

Found is the only business bank account built entirely around the self-employed tax problem. When you configure your estimated tax rate, Found automatically withholds that percentage from every deposit into a separate tax savings bucket — eliminating the end-of-year surprise of an unpaid quarterly tax bill. The Plus plan ($19.99/mo) adds automated bookkeeping, unlimited invoicing, receipt scanning, and integrations with QuickBooks. Free tier includes the tax withholding feature and basic invoicing. ACH is free; wire transfers are not supported. Best fit: single-member LLC owners, sole proprietors, and freelancers who pay quarterly self-employment taxes and want the bank account to handle the withholding automatically.

Bank of America Business Advantage

$16/month (waivable)

Bank of America Business Advantage Fundamentals is the right choice when your LLC needs traditional banking infrastructure: in-person cash deposits, SBA loan eligibility, a business line of credit, business credit card bundles, or access to 3,900+ branch locations. The $16/month fee is waived when you maintain a $5,000 average monthly balance or hold a Bank of America business credit card with qualifying purchases. Wire transfers cost $30 outgoing (steep vs. online banks). No sub-accounts or virtual card stack. Integrations with QuickBooks, Xero, and Wave. Best fit: construction, retail, restaurant, and cash-handling businesses that need branch access and a banking relationship for SBA loans or lines of credit.

Service profile

Mercury

Monthly fee: $0/month
Min. opening deposit: $0 minimum opening deposit
FDIC coverage: $250K FDIC (standard); up to $5M via Treasury sweep
Wire transfer cost: Outgoing domestic wire: $5 each; incoming wire: free; ACH: free; same-day ACH available
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 ever
Key differentiator: Mercury is the default business bank for venture-backed startups and solo LLC operators who want $0 fees with powerful software. Sub-accounts (Savings Vaults) let you earmark funds for taxes and expenses without opening separate accounts. Virtual cards are included free. Integrations with Stripe, QuickBooks, Xero, Gusto, and Zapier mean your accounting is nearly automated. The Treasury product extends FDIC coverage up to $5M through a sweep network of partner banks — far above the $250K standard limit. Wire transfers cost $5 outgoing (free incoming). No minimum balance, no transaction limits, no monthly fee.
Verdict: Best overall for LLC owners: $0/mo, $0 min deposit, virtual cards, sub-accounts, top integrations, and optional $5M FDIC sweep — the strongest all-around offer in the category

Service profile

Bluevine

Monthly fee: $0/month (Standard)
Min. opening deposit: $0 minimum opening deposit
FDIC coverage: $3M FDIC pass-through (Premier); $250K standard
Wire transfer cost: Outgoing domestic wire: $15 each (Standard); 2 free/month (Premier, $30/mo); ACH: free; same-day ACH available
Support channels: Phone, Email, Live chat
Trust signal: FDIC via Coastal Community Bank; 2.0% APY on standard checking balances (Premier: 4.25% APY up to $3M); 5 sub-accounts; Trustpilot 4.3★; $300 signup bonus offer (conditions apply)
Key differentiator: Bluevine's standout feature is interest on checking balances — Standard tier earns 2.0% APY, Premier ($30/mo) earns 4.25% APY up to $3M. For LLCs holding significant cash reserves (inventory, payroll float, project escrow), this yield advantage easily offsets the Premier fee. Standard tier also includes 5 sub-accounts and a Bluevine Business Cashback Mastercard with 1.5% cashback on purchases. FDIC coverage extends to $3M on Premier via sweep to partner banks. Wire transfers cost $15 each on Standard (free 2/month on Premier). Integrations with QuickBooks, Xero, and Stripe. Best fit: cash-carrying businesses that want their idle operating capital to earn meaningful yield.
Verdict: Best for cash-carrying LLCs: 2.0% APY on Standard (4.25% on Premier) turns idle operating capital into meaningful yield — the category leader on interest rate

Service profile

Relay

Monthly fee: $0/month (Free tier)
Min. opening deposit: $0 minimum opening deposit
FDIC coverage: $250K FDIC (Free); $3M FDIC pass-through (Pro, $30/mo)
Wire transfer cost: Outgoing domestic wire: $5 each (Free); 2 free/month then $5 (Pro); ACH: free; 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; strong bookkeeping integrations (QuickBooks, Xero, Gusto); 4.6★ App Store; Profit First-compatible multi-account structure; Trustpilot 4.4★
Key differentiator: Relay is built for LLC owners who want to implement the Profit First or similar multi-account cash management system. You can open up to 20 individual checking accounts under one business, each with its own debit card — letting you separate operating expenses, taxes, owner's pay, payroll, and project funds into distinct buckets without accounting entries. Pro ($30/mo) adds 50 virtual debit cards, faster ACH, and $3M FDIC pass-through. Deep integrations with QuickBooks, Xero, and Gusto make it a complete bookkeeping hub. Wire transfers cost $5 each on Free tier. No minimum balance, no monthly fee on Free. Best fit: team-based LLCs, agencies, contractors managing multiple client projects, or Profit First practitioners.
Verdict: Best for teams and multi-project LLCs: up to 20 checking accounts + 50 virtual cards — unmatched sub-account structure for cash segmentation and expense management

Service profile

Novo

Monthly fee: $0/month
Min. opening deposit: $0 minimum opening deposit
FDIC coverage: $250K FDIC via Middlesex Federal Savings
Wire transfer cost: Outgoing domestic wire: not supported (ACH only); ACH: free; express ACH: $0.99 each; no wire capability is a meaningful limitation for some businesses
Support channels: Email, In-app chat
Trust signal: FDIC via Middlesex Federal Savings; Novo Reserves (up to 5 dedicated tax/savings buckets); integrations with Stripe, Square, Shopify, QuickBooks, FreshBooks; 4.5★ App Store; built for freelancers and e-commerce; $125K+ in partner perks
Key differentiator: Novo is purpose-built for freelancers, solo consultants, and e-commerce operators who primarily receive payments digitally (Stripe, Square, Shopify) and pay expenses by ACH or card. Novo Reserves allows you to set aside money for taxes, savings, or a specific goal within your main account — up to 5 reserved buckets. Partner perks include credits at Stripe, Zendesk, HubSpot, Google Ads, and Salesforce worth $125,000+. Critical limitation: Novo does not support outgoing domestic wire transfers — payments must go via ACH or card, which works for most digital businesses but is a blocker for real estate, construction, and vendors who require wire payment. $250K FDIC standard (no sweep program).
Verdict: Best for freelancers and e-commerce: $0/mo, Stripe/Shopify/Square integrations, Novo Reserves for tax buckets — limited by no outgoing wire capability

Service profile

Found

Monthly fee: $0/month (Free) · $19.99/mo (Plus)
Min. opening deposit: $0 minimum opening deposit
FDIC coverage: $250K FDIC via Piermont Bank
Wire transfer cost: Outgoing domestic wire: not supported on Free; check payments: supported; ACH: free; same-day ACH: available on Plus
Support channels: In-app chat, Email
Trust signal: FDIC via Piermont Bank; built-in quarterly estimated tax calculator; automatic tax withholding bucket; 4.7★ App Store; accepts sole proprietors and single-member LLCs; invoice creation included; dedicated to self-employed owners
Key differentiator: Found is the only business bank account built entirely around the self-employed tax problem. When you configure your estimated tax rate, Found automatically withholds that percentage from every deposit into a separate tax savings bucket — eliminating the end-of-year surprise of an unpaid quarterly tax bill. The Plus plan ($19.99/mo) adds automated bookkeeping, unlimited invoicing, receipt scanning, and integrations with QuickBooks. Free tier includes the tax withholding feature and basic invoicing. ACH is free; wire transfers are not supported. Best fit: single-member LLC owners, sole proprietors, and freelancers who pay quarterly self-employment taxes and want the bank account to handle the withholding automatically.
Verdict: Best for self-employed LLC owners: automatic tax withholding from every deposit — eliminates quarterly tax surprises; limited wire capability keeps it in the sole-proprietor/freelancer lane

Service profile

Bank of America Business Advantage

Monthly fee: $16/month (waivable)
Min. opening deposit: $100 minimum opening deposit
FDIC coverage: $250K FDIC (one of the largest U.S. banks)
Wire transfer cost: Outgoing domestic wire: $30 each (online); incoming wire: $15; ACH: free; 200+ free transactions/mo on Fundamentals tier
Support channels: Phone (24/7), In-branch (3,900+ locations), Online banking, Dedicated small business specialist
Trust signal: One of the 4 largest U.S. banks; SBA Preferred Lender; 3,900+ branches; 4.8★ App Store; strong SBA loan pipeline for credit-seeking businesses; in-person cash deposit capability; robust fraud protection and dispute resolution
Key differentiator: Bank of America Business Advantage Fundamentals is the right choice when your LLC needs traditional banking infrastructure: in-person cash deposits, SBA loan eligibility, a business line of credit, business credit card bundles, or access to 3,900+ branch locations. The $16/month fee is waived when you maintain a $5,000 average monthly balance or hold a Bank of America business credit card with qualifying purchases. Wire transfers cost $30 outgoing (steep vs. online banks). No sub-accounts or virtual card stack. Integrations with QuickBooks, Xero, and Wave. Best fit: construction, retail, restaurant, and cash-handling businesses that need branch access and a banking relationship for SBA loans or lines of credit.
Verdict: Best traditional option: in-person cash deposits, SBA lending pipeline, and 3,900 branches — the right call for cash-handling businesses and those building toward a credit facility

Decision framework

How to choose the best business bank account for your LLC

Identify your LLC's primary cash flow pattern before choosing a bank The right business bank account depends entirely on how your LLC receives and spends money. If you receive payments primarily via Stripe, Square, or Shopify (e-commerce, freelancing), Novo's native integrations make it the natural fit. If you carry large operating balances between payroll cycles, vendor payments, or seasonal inventory builds, Bluevine's 2.0%–4.25% APY on checking balances earns meaningful yield. If you manage multiple projects or team members and need granular budget separation, Relay's 20-account structure is purpose-built for that. If you need in-person cash deposit capability, Branch access, or a foundation for future SBA lending, Bank of America is the only option in this comparison that offers it. Mercury wins by default for most solo LLCs and startups that don't have strong pull toward any of the above — it's the most capable zero-fee option.
Get your EIN before you apply — most banks require it at account opening An EIN (Employer Identification Number) is your LLC's federal tax ID, required by every bank in this comparison to open a business account. Apply free at irs.gov/ein — the online application takes 10–15 minutes and issues your EIN instantly. The IRS then mails an IRS CP-575 confirmation letter within 4–5 weeks; call your target bank to confirm whether they require the paper letter or just the EIN number. Online banks (Mercury, Novo, Relay, Found, Bluevine) typically accept the EIN number alone from the IRS online confirmation — no waiting for the paper letter. Bank of America often requires the CP-575 for new LLCs.
Calculate the true monthly cost including wire fees, if your business uses wires The headline monthly fee is only part of the total cost for businesses that regularly send wire transfers. Mercury charges $5/wire outgoing; Relay charges $5/wire; Bluevine charges $15/wire (Standard) or 2 free/month (Premier); Bank of America charges $30/wire. Novo and Found (Free) do not support outgoing domestic wires at all. If your LLC pays vendors, contractors, or real estate transactions by wire, calculate: (monthly fee) + (average wires/month × per-wire cost) = true monthly cost. A business sending 5 outgoing wires per month pays: Mercury $25, Bluevine $75, Bank of America $150. At 5+ wires/month, Mercury ($5/wire + $0/mo) has the lowest total cost in the comparison.
Evaluate FDIC coverage relative to your operating balance Standard FDIC coverage insures up to $250,000 per depositor per FDIC-insured bank. For most small LLCs with operating balances under $250,000, this is more than sufficient — all six banks in this comparison are FDIC-insured at that level. If your LLC routinely holds more than $250,000 in a single account (real estate holding company between closings, seasonal businesses with large receivables, contractors with milestone-based payment structures), Mercury's Treasury sweep ($5M coverage at no cost) or Bluevine Premier ($3M coverage at $30/mo) provide meaningful protection above the $250K standard limit. Do not hold $1M+ in a $250K-insured account without a specific plan for excess coverage.
Open the account, deposit at least $1, and connect your payment processors After selecting your bank: (1) Complete the online application with your EIN, Articles of Organization, Operating Agreement, and government-issued ID. Online banks typically approve accounts within 24–48 hours. (2) Fund the account — $0 minimum for Mercury, Novo, Relay, Found, and Bluevine; $100 for Bank of America. Any initial deposit works. (3) Connect your payment processors: link Stripe, Square, or PayPal to route payments directly to the business account. (4) Set up automated QuickBooks or Xero sync if available. (5) Update all vendor and client payment information to use the new account. The moment your first business transaction flows through the dedicated business account, your LLC's liability shield is materially stronger.

Pick a state to form in

LLC formation state comparisons

Choose the right state before you pick your registered agent — the state determines your annual obligations.

FAQ

Business bank accounts for LLCs — common questions

Do I really need a separate business bank account for my LLC?

Yes — and this is not optional if you want to keep your personal assets protected. Your LLC's liability shield depends on maintaining a real legal separation between yourself and the business. Commingling personal and business funds is the most frequently cited reason courts 'pierce the corporate veil' — meaning a plaintiff or creditor can reach your personal assets (home, savings, personal accounts) through your LLC. A dedicated business account is also required to properly track deductible business expenses for tax purposes, to receive payments in your LLC's name, and to satisfy your bank's beneficial ownership requirements under the Bank Secrecy Act. Open the account within 30 days of LLC formation — before your first business transaction.

What documents do I need to open a business bank account for my LLC?

You'll need: (1) Articles of Organization or Certificate of Formation — the document your Secretary of State issued when you formed the LLC. (2) EIN (Employer Identification Number) — apply free at irs.gov/ein; online application issues the EIN instantly, but the IRS paper CP-575 confirmation takes 4–5 weeks, and some banks require the letter. (3) LLC Operating Agreement — banks request this to verify authorized signatories and ownership structure, even though many states don't legally require one. (4) Government-issued photo ID for all authorized signatories. (5) Certification of beneficial owners — the bank's own form; you'll certify the identity of anyone owning 25%+ of the LLC. Online banks (Mercury, Novo, Relay, Found, Bluevine) complete the entire process digitally in 30–60 minutes. Traditional banks (Bank of America) typically require an in-person branch visit.

Which business bank account has the highest FDIC coverage for an LLC?

For maximum FDIC protection, Mercury's Treasury sweep program extends coverage up to $5 million by distributing your funds across a network of partner banks, each providing $250K FDIC coverage — with no additional cost or separate account required. Bluevine Premier ($30/mo) and Relay Pro ($30/mo) both extend FDIC pass-through coverage to $3 million through their respective bank networks. Standard FDIC coverage (the $250K per-bank limit) applies at Novo, Found, Bank of America, and to Mercury/Bluevine/Relay on their base tiers. If your LLC routinely holds more than $250,000 in operating cash (e.g., a real estate holding company between property sales, or a seasonal business with large receivables), Mercury Treasury or Bluevine Premier is worth considering specifically for the expanded FDIC coverage.

Is Mercury a real bank? Is my money safe?

Mercury is a financial technology company, not a bank — but your deposits are held at real FDIC-insured banks: Choice Financial Group and Evolve Bank & Trust. This is the same model used by Novo (Middlesex Federal Savings), Relay (Thread Bank), Found (Piermont Bank), and Bluevine (Coastal Community Bank). Your money is FDIC-insured up to $250,000 per depositor per bank through Mercury's banking partners. Mercury's Treasury sweep program extends this to $5 million by distributing funds across multiple partner banks. The important distinction: Mercury itself is not the FDIC-insured entity — your banking partner is. All five online business banks (Mercury, Novo, Relay, Found, Bluevine) use this fintech-bank partnership model.

Can I use a personal bank account for my LLC instead of opening a business account?

Technically possible but legally inadvisable. The core risk: using a personal account for LLC business activity is evidence of commingling, which courts and creditors use to argue that your LLC is not a real separate entity — and that your personal assets should be available to satisfy LLC debts. This is called piercing the corporate veil. Secondary problems: (1) You cannot get a business debit/credit card in your LLC's name. (2) Payments from customers or clients will be made to your personal name, not your LLC — which creates complications on contracts, invoices, and 1099s. (3) QuickBooks and accounting software will mix personal and business transactions, creating bookkeeping nightmares. (4) Banks can close personal accounts they detect are being used for business purposes. Open a business account — Mercury, Novo, and Relay are all free with no minimum balance.

What's the difference between Mercury, Novo, Relay, and Bluevine for an LLC?

The four online business banks serve different use cases: Mercury ($0/mo) is the most feature-complete option for solo and startup LLCs — strong integrations, virtual cards, Savings Vaults, and optional $5M FDIC via Treasury. Novo ($0/mo) is optimized for freelancers and e-commerce operators receiving payments via Stripe, Square, or Shopify, with Novo Reserves for tax buckets — but it lacks outgoing wire transfer capability. Relay ($0/mo free, $30/mo Pro) is built for multi-account cash management: up to 20 checking accounts and 50 virtual cards, making it ideal for Profit First practitioners, agencies with multiple clients, or team-based LLCs. Bluevine ($0/mo standard) is the choice for businesses that carry significant cash balances and want to earn interest — 2.0% APY on Standard, 4.25% on Premier. In practice: most single-member LLCs start with Mercury; e-commerce operators lean toward Novo; team-based operations prefer Relay; cash-heavy businesses choose Bluevine.

Do I need a business bank account before or after forming my LLC?

After forming your LLC — specifically after you receive your EIN from the IRS. The sequence is: (1) Form your LLC with your state Secretary of State and receive your Articles of Organization. (2) Apply for your EIN at irs.gov/ein (free, takes 10–15 minutes online, instant issuance). (3) Open your business bank account using your Articles of Organization and EIN. You cannot open a business account in your LLC's name without an EIN, and most banks require your formation documents to verify the LLC exists. Some banks also require the IRS CP-575 EIN confirmation letter, which arrives by mail 4–5 weeks after your online EIN application — call your target bank first to confirm whether the EIN number alone is sufficient.

Which business bank account is best for getting an SBA loan or business line of credit?

For SBA loan eligibility or a business line of credit, Bank of America Business Advantage is the strongest option in this comparison — BofA is an SBA Preferred Lender with a dedicated small business lending pipeline. Having an established business checking account at a traditional bank (6–12+ months of history, regular deposits and transactions) is typically required before a lender will seriously consider your SBA loan application. Online neobanks (Mercury, Novo, Relay, Found, Bluevine) generally don't offer SBA loans or business lines of credit through their own platforms, though Bluevine has historically offered business lines of credit as a separate product. If your medium-term goal is an SBA 7(a) loan or a revolving line of credit, open a Bank of America Business Advantage account early and maintain a clean banking history there, even if you also use Mercury for day-to-day operations.