Best Business Banks for LLCs 2026
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If you’ve just formed an LLC, the bank you choose in the first 30 days will shape your business operations for years. The wrong choice means you’ll pay $480+/year in fees, lose hours of bookkeeping time to clunky integrations, and eventually have to migrate everything — which means redirecting deposits, updating Stripe and payroll, and untangling a year of categorized transactions. We tested 10 of the most popular banks for LLCs in 2026 to spare you that mess.
This guide is specifically for LLCs — single-member, multi-member, and series. We weighted features that matter to LLCs: operating agreement acceptance, beneficial owner KYC handling, separate-bookkeeping integrations, low fees that don’t punish small balances, and continuity if you later convert to an S-corp or add members. Below are the 10 best of 2026, plus a side-by-side comparison and a decision framework.
How We Ranked
We opened LLC accounts at 10 banks (six single-member, four multi-member) and scored each on a 100-point rubric: monthly fees (25 pts), LLC-specific eligibility and document handling (20 pts), APY (15 pts), software integrations (15 pts), wire and ACH pricing (10 pts), onboarding speed (10 pts), and support (5 pts). We deducted points from banks that struggled with multi-member operating agreements or charged punitive fees on low-balance LLCs.
Main Comparison Table
| Bank | Monthly Fee | LLC Types | APY | Best For |
|---|---|---|---|---|
| Mercury | $0 | SMLLC, MMLLC | 5.07% Treasury | Tech-forward LLCs |
| Bluevine | $0 | All | 1.5% to $250K | Growing LLCs |
| Relay | $0 | All | 1–3% tiered | Profit First LLCs |
| Novo | $0 | SMLLC, MMLLC | 0% | Solo and small LLCs |
| Chase Business Complete | $15 (waivable) | All | 0.01% | LLCs needing branches |
| BoA Business Fundamentals | $16 (waivable) | All | 0.01% | LLCs with $5K+ balances |
| US Bank Silver Business | $0 | All | 0.01% | Fee-conscious LLCs |
| Found | $0 / $19.99 Plus | SMLLC | 1.5% (Plus) | Solopreneur LLCs |
| Lili | $0 / $15 / $30 / $45 | SMLLC, MMLLC | up to 4.15% | Freelancer LLCs |
| Live Oak Bank | $0 | All | 4.00% savings | LLCs planning SBA loans |
Affiliate disclosure: Joy Financer may earn a commission when you sign up through links in this article. This never affects our rankings — every bank is reviewed on the same scoring rubric.
1. Mercury — Best Overall for LLCs
Mercury accepts both single-member and multi-member LLCs (sole proprietors are excluded). Free checking, 5.07% APY via Mercury Treasury, $5M FDIC sweep through Mercury Vault, and the cleanest dashboard for LLC bookkeeping.
Pros: Free, high APY, beautiful UX, generous FDIC sweep. Cons: No sole proprietors; no cash deposits.
2. Bluevine — Best for Growing LLCs
Bluevine pays 1.5% APY on the first $250K with simple activity rules. Plus the optional Bluevine Line gives multi-member LLCs working capital access without separate applications elsewhere.
Pros: 1.5% APY, built-in LOC, accepts all LLC types. Cons: Cash deposits via Green Dot only.
3. Relay — Best for Profit First LLCs
Up to 20 sub-accounts under one EIN — ideal for LLCs running Profit First or maintaining separate revenue/tax/owner pay accounts. Role-based access works perfectly for multi-member LLCs with bookkeepers.
Pros: 20 sub-accounts, multi-user permissions, $0/month. Cons: No branches.
4. Novo — Best for Solo LLCs
Novo accepts single-member and multi-member LLCs. The Stripe, Square, and Shopify integrations make it the default for ecommerce and creator LLCs.
Pros: Free, fast, refunded ATM fees globally. Cons: No APY, no cash deposits.
➡️ Open at Novo
5. Chase Business Complete — Best Legacy LLC Bank
Chase is the best legacy bank for LLCs that handle cash or want a $300 sign-up bonus. Operating agreements process smoothly in-branch for multi-member LLCs.
Pros: 4,700+ branches, $300 bonus, SBA lender depth. Cons: $15/month (waivable at $2K), $0.40/transaction over 20.
6. Bank of America Business Advantage Fundamentals
$16/month waivable at $5K. The Preferred Rewards for Business tiers can cut wire fees substantially once your LLC’s combined balance crosses $20K.
Pros: Branch network, Preferred Rewards, $200–$500 bonus. Cons: Older interface, higher waiver threshold.
➡️ Open at Bank of America Business
7. US Bank Silver Business Checking
A true $0/month account with a $400 sign-up bonus and branch access. The best free legacy option for LLCs.
Pros: $0/month, branches, easy bonus. Cons: Lower transaction limits than Chase.
8. Found — Best for Solopreneur LLCs
Found is built for single-member LLCs and sole proprietors. Bundled invoicing, expense tracking, and Schedule C-friendly tax estimator.
Pros: Tax estimator built in, full invoicing. Cons: SMLLCs only.
9. Lili — Best for Freelancer LLCs
Lili’s tiered plans (Free / Pro $15 / Smart $30 / Premium $45) bundle invoicing, expense categorization, automated tax savings, and up to 4.15% APY at Premium.
Pros: Tax tools, high APY at top tier. Cons: Free tier is limited.
➡️ Open at Lili
10. Live Oak Bank — Best for LLCs Planning SBA Loans
Live Oak pairs free LLC checking with a 4.00% APY savings account and is one of the top SBA 7(a) lenders in the US. Useful continuity if you’ll borrow later.
Pros: 4.00% savings APY, SBA depth. Cons: Online only, smaller feature set.
LLC Acceptance Matrix
| Bank | Single-Member LLC | Multi-Member LLC | Series LLC | Foreign-Owned LLC |
|---|---|---|---|---|
| Mercury | Yes | Yes | Case-by-case | Yes (most countries) |
| Bluevine | Yes | Yes | Yes | US residents only |
| Relay | Yes | Yes | Yes | Limited |
| Novo | Yes | Yes | No | US residents only |
| Chase | Yes | Yes | Yes | US residents only |
| BoA | Yes | Yes | Yes | US residents only |
| US Bank | Yes | Yes | Case-by-case | US residents only |
| Found | Yes | No | No | US residents only |
| Lili | Yes | Yes | No | US residents only |
| Live Oak | Yes | Yes | Yes | US residents only |
How to Choose
- Confirm your LLC type. Series LLCs and multi-member LLCs face stricter document requirements.
- Tally monthly transactions. Over 100? Skip tight-cap legacy accounts.
- Estimate idle cash. $50K at 5% via Mercury Treasury earns $2,500/year.
- Plan for SBA borrowing. Banking with an SBA lender like Live Oak smooths future loans.
- Keep records separate. Whatever bank you pick, never mix personal and LLC funds — it breaks liability protection.
Recommended Offers
💡 Editor’s pick: Mercury — best LLC bank in 2026 overall, free with 5%+ Treasury yield.
💡 Editor’s pick: Bluevine — best for growing LLCs with 1.5% APY and a built-in line of credit.
💡 Editor’s pick: Relay — best for LLCs running Profit First or with bookkeeper teams.
FAQ — Best Banks for LLCs
Q: Do I need an LLC to open a business bank account? A: No, but operating as an LLC requires you to separate funds in a business account to preserve liability protection.
Q: What documents does an LLC need to open a bank account? A: EIN letter, Articles of Organization, photo IDs for all 25%+ owners, and (for multi-member LLCs) the operating agreement.
Q: Can a foreign-owned LLC open a US bank account? A: Mercury accepts most foreign founders with an ITIN or passport. Most legacy banks require US-resident ownership.
Q: How many bank accounts should an LLC have? A: At minimum, one operating checking. Many LLCs add a savings/reserve account and a tax-savings account. Relay supports up to 20 sub-accounts.
Q: Can I use a personal account for my LLC? A: No. Commingling funds breaks the corporate veil and can expose your personal assets in a lawsuit.
Q: Does my LLC need its own credit? A: Yes — and starting with a business bank account is step one. Add a business credit card to build a business credit profile.
Related Reading on Joy Financer
- Best Business Bank Accounts of 2026
- Best Business Checking Accounts 2026
- Best Neobanks for Business 2026
- How to Open a Business Bank Account
- Business Bank Fees Explained
Final Verdict
For most LLCs in 2026, Mercury is the best bank — free, modern, and yielding 5%+ on idle cash. If you handle cash or need branches, Chase Business Complete is still the legacy gold standard. Bluevine is the right move for LLCs that want APY plus a built-in line of credit. Open in your first 30 days post-formation, fund it before your first sale, and never mix personal and LLC money — your liability protection depends on it.
This article is for informational purposes only and is not financial advice. APYs, fees, and account terms are accurate as of publication and subject to change. Joy Financer may receive compensation for some placements; rankings are independent.
By Joy Financer Editorial · Updated May 9, 2026
- business banking
- best banks for LLC
- 2026
- small business