For the self-employed, freelancers, and contractors, it can be daunting to figure out everything you need to thrive in your business.The best bank accounts for self employed businesses should offer a variety of outstanding products and services to your business.
The biggest reason business owners need a business bank account is that it’s important to keep personal and business expenses separate. Here’s our selection of the best banks to choose when you’re self-employed or a freelancer, with each offering different features.
The best business bank accounts for the self employed
For your self employed person, there are various business bank accounts to take into consideration. Both a local bank account and an online business bank account are options you might be interested in. You may prefer mobile banking if you don’t need to go into a physical branch and don’t need to deposit cash.
We’ve selected 3 banks that offer bank account offers for self employed businesses that meet the needs of the self employed that focus on fees and features.
- Bluevine – Great for no fees
- Novo – Best for unlimited free ATMs
- Chase – 100’s of bank branches for over-the-counter service
- Bank of America – Best for traditional banking
The various bank accounts presented are a mix of online banks with different features and product integrations. This allows self employed owners to pick a bank that best fits with their needs and requirements.
Bluevine
Bluevine is an online FinTech company that allows self employed businesses to easily set up an online bank account which has no monthly fees, transaction fees or minimum opening deposit and excellent online and mobile banking features.
Incoming and Outgoing ACH fees are zero, which is very attractive for self employed businesses who have many transfers. There are some fees with outgoing wire fee of $15.00, whilst cash deposit fees are charged at $4.95 per deposit, but a superb trade overall product that’s easy to use and offers unlimited transactions.
Novo
Novo is a business banking platform for the self-employed and small business owners, allowing them to open business checking accounts in minutes.