Best Business Bank Accounts for Freelancers (2026)

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Separating business and personal money is the single most useful finance habit for a freelancer. It makes bookkeeping and taxes dramatically easier and protects you if you're ever audited. The good news: several online business accounts have no monthly fee. All five below are fintech companies that hold deposits at partner banks with FDIC insurance (check each provider's disclosures for the partner banks and coverage limits).

Quick verdicts

1. Relay — best for budgeting by bucket

Relay's Starter plan is $0/month; Grow is $30/month and Scale is listed at $90/month (discounted from $120 for a limited time). Relay's pitch is multiple checking accounts, which makes "profit first" budgeting easy: one account for taxes, one for operating costs, one for your pay. Relay says deposits can qualify for up to $3,000,000 in FDIC coverage through its program banks. Verdict: our top pick for freelancers who want a system, not just an account.

2. Mercury — best software experience

Mercury's core plan is $0/month. Paid plans start at $35/month for advanced workflows, and Mercury Books is $35/month (waived until December 31, 2026, per its pricing page). Treasury yield is only for customers with a $250K balance. Verdict: the most polished app and great for LLCs; Mercury is oriented toward startups, so sole proprietors should check eligibility.

3. Found — best built-in tax features

Found offers a free plan, with Found Plus at $35/month or $315/year and Found Pro at $80/month or $720/year. Tax payments, priority support, and expanded bookkeeping are tied to paid plans. Verdict: good if you want banking, expense categorization, and tax set-aside in one app. Note that tax payments require a paid plan.

4. Novo — simple free checking

Novo advertises free business checking. Its pricing page notes 2% cashback on eligible purchases with a balance of $5,000 or more (1% under $5,000). Verdict: a clean, no-fuss free account; fewer budgeting features than Relay.

5. Lili — freelancer-focused

Lili Core is $0/month. Paid tiers, per Lili's plans page on October 14, 2026, are Pro at $15/month, Smart at $35/month and Premium at $55/month, each with a 30-day free trial and an introductory discount for the first three months. Tax-saving buckets and expense reports come with the Smart tier and up. Verdict: designed for sole proprietors with tax-saving buckets; compare carefully against Relay's free plan.

How to handle tax set-aside

Whatever bank you choose, open a second account just for taxes and move a fixed percentage of every payment into it. Our homepage calculator estimates the amount. Many freelancers set aside 25–30% of income, but your rate depends on your income, state, and deductions; a tax professional can help. To capture deductions you'd otherwise miss, an expense tracker like Keeper (affiliate link) scans your card transactions for possible write-offs.

Verdict

Open a free Relay or Mercury account today and move all client payments there. Choose Found or Lili if you'd rather pay for an all-in-one tax helper than run your own system.

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