Top 7 Business Checking Accounts Every LLC Needs in 2025

Let’s be honest.

You’re not truly limited when selecting a bank for your business – there are countless options all competing for your attention. However, browsing through lists of banks, reading their terms and conditions, and trying to determine which one offers the best online business account can be a frustrating process. The same goes for finding the optimal business checking account.

Having long-term success in business requires choosing an account that aligns with your specific needs. The ideal account may depend on factors such as monthly fees, available services, the top business credit cards offered, and transaction limits. In a year where checking account rates dropped by nearly 22%, making the right choice becomes even more essential.

This also helps prevent overpaying for your banking services – after all, cash flow issues are the leading cause of business failure. To assist you, I’ve compiled a list of the top business checking accounts tailored for LLCs. This guide aims to simplify your decision-making process by highlighting options that provide all the necessary features for your business to thrive.

Let’s dive in.

Choosing the right account for your LLC is crucial, so take your time to review the features offered by the top banks listed here. These picks represent my best recommendations for business checking accounts suitable for LLCs.

Chase Bank recognizes the importance of your time and provides tools that help you focus on growing your business. Features such as accepting card payments over the phone, robust security measures, and quick account funding make Chase a popular choice for LLCs and new businesses.

The fee structure includes:

Bank of America is a global financial institution offering business banking, investment options, and various financial and risk management services to companies, governments, and individuals.

They collaborate closely with small business clients to understand their specific needs, ensuring they provide tailored solutions for each one.

Their range of services is extensive and designed specifically for businesses, including business credit cards, cash flow management tools, online payroll solutions, and merchant services.

Pricing varies depending on your location and the specific products you select. While most fees are billed monthly, the value and benefits gained from the services typically outweigh these small costs.

Wells Fargo offers a broad selection of services and products for startups and established companies alike, supporting business growth and protection at every stage.

They focus on providing essential options like checking and savings accounts, business credit cards for everyday expenses, and cash management solutions. Additional financing options such as business loans, lines of credit, and more are also available.

They aim to support any phase of your business development—whether you’re just starting, planning to expand, or aiming to secure your company’s future, they will work to find the right strategies to help you succeed and safeguard your assets.

Wells Fargo is ideal for business owners seeking a strong foundation for growth. Their Initiate Business Checking accounts help new entrepreneurs focus on their core goals, while their Relationship Business Checking offers stability for navigating market fluctuations. A Wealth Management Account provides tailored financial services, and the Optimize Business Checking plan is designed for efficient, growth-focused operations.

This service charges a monthly fee of ten dollars. However, you can waive this fee by maintaining a minimum daily balance of $500 or, alternatively, an average ledger balance of $1000 over the billing period.

There are no charges for deposits up to $5000 in cash. Beyond this amount, a fee of $0.30 per $100 deposit applies. For transactions, the first 100 are free each month; after that, each additional transaction costs $0.50.

At PNC Bank, they focus on helping small businesses expand and succeed. They understand the challenges of managing cash flow and growing operations, which is why their PNC Business Checking account provides a strong financial foundation.

PNC offers checking accounts, loans, and other services tailored to support business growth. Their accounts come with no hidden fees for day-to-day banking, and their online and mobile banking platforms allow unlimited free transactions, making it easy to stay on top of your finances. Their goal is to provide tools that foster your company’s growth and success.

To open a new account, you need a minimum deposit of $100. After the first month, there is a $10 monthly fee, but this fee can be waived if you meet certain conditions: maintaining a $500 monthly balance or making at least $500 in purchases with a PNC business credit card per month.

Oxygen is a financial technology platform, not a traditional bank. It was created to give users a modern and flexible banking experience, free from the constraints of conventional banking products and restrictions. They are dedicated to providing clients with freedom and adaptability, along with award-winning customer support and security measures that surpass industry standards. Oxygen’s mission is to deliver a simple, easy-to-use banking experience powered by smart technology. They offer a variety of tools designed to help you maximize your financial potential.

Oxygen provides four plan options, referred to as elements, allowing you to select the one that fits your business best. These plans are called:

To access each plan, a few qualifying questions are asked, mainly related to initial setup and yearly commitments.

LendingClub Tailored Checking is designed specifically for small business owners, focusing on their unique financial needs.

Managing your own business means you should be able to invest freely without concerns about fees or transaction restrictions. With LendingClub, those worries are eliminated. There are no extra charges for transactions, and there’s no cap on how much money you can spend. Additionally, you earn a full 1% cashback on every purchase made with their business debit cards. You can sign up quickly online in just 10 minutes and start using the service immediately.

Understanding the features of this account can help you make the most of it. You’ll earn a 0.10% annual percentage yield (APY) on balances of $5,000 or more, which means your savings grow the more you keep in the account. This rate is higher than most other checking accounts available. Plus, there are no fees to use ATMs; they will even cover fees from other banks, ensuring free access to your cash at any time. Managing your account is convenient because you can handle everything from your mobile device—checking balances, viewing transactions, or making payments whenever and wherever you want. You can set up one-time or recurring payments, which helps you stay on top of bills and avoid missing due dates.

There are no maintenance fees if your account balance stays above $5000. However, if this threshold isn’t met, a $10 monthly maintenance fee applies, so keeping your balance above that amount helps avoid extra costs.

For freelancers seeking a straightforward mobile banking solution, Lili is an excellent option. It offers a free, FDIC-insured business bank account linked to your debit card. You can freeze or unfreeze your card instantly through the app, giving you peace of mind regarding your money’s security. Its robust security features ensure only authorized users access your account. Managing your finances with Lili is simple and quick—you can check balances, transfer money to friends or family, or deposit checks directly from your phone in just a few minutes, whether you’re at home or on the move.A comprehensive review of Lili and how it can benefit your company.

Starting your Lili account involves no initial fees; there are no charges for overdrafts or currency exchanges. Furthermore, you aren’t required to make a deposit and can withdraw cash without fees at over 38,000 ATMs across the US.

Business checking accounts come in various formats. In the US, they are typically transactional accounts designed for small businesses to handle online payments. Some providers may charge a monthly fee for maintaining the account.

Let’s compare these accounts with traditional banking options.

People often wonder whether to keep their money in savings or in a business checking account, since each has distinct benefits and purposes.

If you’re saving for something special, like a birthday gift, you’ll want quick access to the funds—making a savings account the ideal choice. Conversely, if you have surplus funds not needed for daily expenses, placing them in a business checking account allows you to earn interest.

These two account types also differ in fee structures, with savings accounts typically incurring lower management costs compared to checking accounts. Business checking accounts are primarily used for making payments and organizing finances, providing a convenient online portal to monitor your available funds.

Having a business checking account is crucial for managing your banking essentials. It helps you keep detailed records of all transactions, investments, and property deals, ensuring you are always aware of your financial status. This organization is valuable during tax season, as it simplifies tracking profits and losses, and helps you avoid overpaying taxes or underreporting income—advantages not as straightforward with a savings account.

Business Checking Accounts vs Business Savings Accounts

A business savings account functions similarly to personal savings accounts but often requires higher minimum balances, usually enforced by regulations. Before opening such an account, consider its primary purpose—whether for cautious savings or for earning interest on operational funds.

If your goal is to save cash for routine expenses or to grow your funds, a high-yield business savings account can offer attractive interest rates, especially if the bank has low minimum balance requirements. These accounts facilitate fund management and may include features like mobile check deposits, credit card processing, merchant services, and foreign transactions—often features associated with business checking accounts.

When evaluating if an account is worth it, always review the fee structure, especially since fees tend to be higher compared to personal accounts. Frequent account usage typically incurs more costs, so opting for lower or no fees benefits your bottom line. Initial deposit requirements and annual fees should also be considered, especially if you plan to maintain active banking operations.

There’s no one-size-fits-all answer to the perfect business bank account, as the optimal choice depends on your specific needs and financial activity.

Since each bank has its own policies and requirements, setting up a business checking account can vary. However, the process isn’t overly complicated if you’re prepared and aware of your options. Assess your available funds for opening the account and ensure that the features included align with your business needs. Providing detailed information about your services and personal contact details can facilitate smoother communication with bank representatives, helping to build a relationship that benefits your company, your clients, and the bank alike.

Running your business involves tracking multiple financial activities such as making payments, receiving income, handling business-specific expenses (like meals and entertainment), and managing taxes. It’s essential to know your current financial standing to forecast future transactions effectively.

The expenses associated with starting a business in the United States differ greatly depending on the type of business you plan to establish. It might be beneficial to structure your company as an LLC or an S Corporation for legal or tax reasons.

Generally, sole proprietors don’t need special licenses, but if your operations involve payroll or other regulated activities (like using payroll software), registering your business and obtaining permits might be necessary.

The best bank for your LLC depends on various factors. Different banks have unique policies, procedures, and approval criteria. Review each bank’s requirements online to determine if your business can meet them. Once you’ve gathered all necessary information, schedule a meeting with a bank representative to address any questions. There are several account types tailored to different business needs, some more flexible than others. Knowing the features you want beforehand can streamline your decision, making money management and tax handling easier. Conduct thorough research and ask around to identify the best place to open your business account.

Business checking accounts serve as your company’s main operating account, where deposits, bill payments, and other daily transactions are processed. They can also be used for refunds and tax-deductible expenses. It’s important that your employees understand how to use these accounts properly to keep finances organized and avoid disputes. While managing finances can be challenging, there are experts and resources available to help you navigate the process and clarify any concerns.

Each bank has its own policies, but generally, you’ll need to provide at least two valid IDs from the business owners or entrepreneurs, along with a physical address for correspondence. You will also need to supply details about your company structure. The time to open the account typically depends on the bank’s processing speed but usually takes around a week or less to complete the approval process.

Some banks do offer sign-up bonuses, though these promotions are often time-sensitive. Be sure to review the terms and conditions to maximize any current offers and ensure you meet the eligibility requirements.

Beyond the main banks mentioned earlier, there are several other financial institutions worth considering, such as:

Chase also offers various business banking solutions like Chase QuickDeposit, QuickAccept, and QuickBooks integration—each suited to different business needs. When choosing, compare features such as free transaction limits, deposit options, minimum opening deposits, bookkeeping services, and wire transfer flexibility. Gathering detailed information beforehand will help you make an informed decision. Also, remember that opening a US LLC business account typically requires a Social Security number.

The Federal Deposit Insurance Corporation (FDIC) is a government agency that insures deposits in US banks, protecting depositors in case of bank failure. The FDIC’s funding comes from premiums paid by member banks and earnings from investments in US Treasury securities.

The key is to compare various accounts’ features. Some banks offer free checking with no monthly fees, while others might charge a fee but provide additional free services like online bill pay or unlimited checks. Analyzing these options will help you choose the most advantageous account for your business.

The minimum deposit usually starts around $100, but some banks require higher amounts, such as $1,000. It’s important to verify this with your chosen bank beforehand.

Not all banks offer incentives, but some do. Always check with your bank to see if any promotions are available at the time of opening.

Having a dedicated business account offers benefits like streamlined customer service, clear statement processing, and check clearance. Many banks also provide optional services—for a fee—that include online bill payments, wire transfers, and stop payments, enhancing your financial management capabilities.

Starting a business requires careful planning and research, but the effort can be rewarding. Gathering as much information as possible about your options, requirements, and procedures will set a solid foundation for your company’s financial health and growth.

Laws and procedures should always be thoroughly reviewed before making any decisions.

You wouldn’t start a new business without a proper plan, so it’s the same with selecting the right business checking account. It’s all about choosing features that simplify your money management and align with your goals. When done correctly, your business can reach new heights.

Here are my top picks for the best business checking accounts for LLCs:

Doing thorough research and selecting the right account will help you manage your business finances more effectively.

Further information on StepThroughThePortal.com: If you’re looking to implement a point of sale system and aren’t satisfied with current options, check out our article on the best POS systems and software, which could enhance your business operations.

Additionally, if you plan to sell products or services online, explore the best eCommerce platforms for 2025.

Finally, to learn about financing options for growth, read my post on the best small business loans.