Marketing Team

Our Marketing Team at PopaDex

8 September 2025

7 Best Bank Account for Freelancers Options in 2025

As a freelancer, separating your business and personal finances is more than a good idea; it’s essential for clear bookkeeping, accurate tax preparation, and projecting a professional image to clients. But not all business accounts are created equal. A dedicated bank account for freelancers can offer unique perks like automated tax savings, built-in invoicing tools, and high-yield interest that a standard checking account simply can’t match.

Beyond simply separating funds, a dedicated account simplifies overall financial organization, including essential processes like invoice management tailored for freelancers. Choosing the right platform means less time spent on administrative tasks and more time focused on your actual work.

This guide dives straight into the top 7 options for 2025, breaking down their specific features, fee structures, and ideal use cases. We provide detailed analysis, screenshots, and direct links for each bank, so you can confidently select the best fit. Whether you’re a creative solopreneur, a seasoned consultant, or a gig economy pro, the right bank account will streamline your financial admin, saving you time and money. We’ll analyze everything from digital-first fintechs like Novo and Lili to established institutions like Chase, helping you find the perfect fit to manage your hard-earned income effectively.

1. Bluevine: Best for Earning High-Yield Interest

For freelancers who want their business funds to work for them, Bluevine Business Checking stands out by merging the functionality of a checking account with the earning potential of a high-yield savings account. It’s an ideal bank account for freelancers who maintain a healthy balance and want to earn passive income without locking their money away. The platform is entirely digital, allowing for quick online setup and management, perfect for a busy sole proprietor.

Bluevine’s main differentiator is its competitive Annual Percentage Yield (APY) on checking balances, a feature rarely found in free business accounts. This allows your operational cash, such as funds set aside for quarterly taxes or upcoming business expenses, to grow automatically.

Key Features and Pricing

Bluevine offers a tiered structure that scales as your freelance business grows. The Standard plan has no monthly fee, while the Plus ($29.95/mo) and Premier ($95/mo) plans unlock higher interest rates and waive certain transaction fees. All plans include unlimited transactions and free ACH transfers.

Feature Comparison	Standard Plan	Plus Plan	Premier Plan
Monthly Fee	$0	$29.95	$95
APY on Balances	2.0% (up to $250k)	3.0% (up to $250k)	4.25% (up to $3M)
Sub-accounts	5	10	20
Waived Wire Fees	0	5 per month	Unlimited
Int. Payments	1.5% Fee	1.0% Fee	0.8% Fee

To earn the APY on the Standard plan, you must meet one of two monthly eligibility requirements: spend $500 with the Bluevine debit card or receive $2,500 in customer payments.

Practical Tips for Freelancers

• Tax Savings Sub-account: Immediately create one of the five free sub-accounts and label it “Quarterly Taxes.” Automate a percentage of every client payment to transfer into this account. You’ll earn interest on your tax savings, effectively reducing your tax burden slightly.
• Integrated Invoicing: Use Bluevine’s built-in invoicing tools. Clients can pay you directly via card or bank transfer through a payment link powered by Stripe, streamlining your accounts receivable process without needing separate software.

Bluevine is an excellent choice for established freelancers looking to maximize their earnings on idle cash while still having robust, everyday banking features.

Website: https://www.bluevine.com/

2. Novo: Best for Integrations and No-Fee Banking

Novo is designed from the ground up for modern digital entrepreneurs, making it a top-tier bank account for freelancers, sole proprietors, and small business owners. Its entirely online platform emphasizes simplicity and connectivity, eliminating monthly fees and minimum balance requirements that often burden new freelancers. The user experience is built around a powerful mobile app that connects seamlessly with the tools you already use to run your business.

What truly sets Novo apart is its extensive ecosystem of third-party integrations. It acts as a central financial hub, connecting directly to payment processors like Stripe and PayPal, e-commerce platforms like Shopify, and accounting software like QuickBooks. This allows for a streamlined workflow where your financial data syncs automatically, saving significant administrative time.

Key Features and Pricing

Novo’s appeal lies in its straightforward, fee-free structure. There are no monthly maintenance fees, no minimum balance requirements, and all incoming and outgoing ACH transfers are free. The platform makes money on other services, such as a fee for its Express ACH feature, which offers same-day payment processing.

Feature	Details	Cost
Monthly Fee	No monthly service fee	$0
Minimum Balance	No minimum balance required to open or maintain	$0
Invoicing	Create and send unlimited invoices from the app	Free
Novo Reserves	Set aside funds for taxes, payroll, or other expenses	Free
Integrations	Stripe, Shopify, QuickBooks, Xero, Wise, and more	Free
Express ACH	Same-day ACH payment processing	1.5% of total transaction ($20 min, $50 max)

Additionally, Novo refunds all ATM fees at the end of each month, giving you the freedom to withdraw cash from any ATM worldwide without penalty.

Practical Tips for Freelancers

• Automate Your Savings with Reserves: Use the “Reserves” feature to create up to 10 digital envelopes for specific savings goals. Create a reserve named “Tax Savings” and another called “Business Buffer.” Set up recurring transfers to automatically allocate a portion of your income, making financial planning effortless.
• Leverage Integrations for Faster Bookkeeping: Connect your Stripe or PayPal account directly to Novo. When a client pays an invoice, the funds and transaction details flow directly into your bank account and can be easily synced with QuickBooks, drastically reducing manual data entry and reconciliation time.

Novo is an excellent choice for tech-savvy freelancers who value a simple, no-fee banking experience with powerful digital tools and integrations to automate their financial management.

Website: https://www.novo.co/

3. Lili: Best All-in-One Banking and Bookkeeping

Lili is designed from the ground up as a comprehensive financial hub for the modern freelancer. It goes beyond a simple checking account by integrating banking with essential business management tools for invoicing, expense tracking, and tax preparation. This makes it the ideal bank account for freelancers who want to simplify their financial admin and consolidate their tech stack into a single, intuitive platform. The streamlined, mobile-first experience is perfect for managing business finances on the go.

Lili’s core value proposition is its ability to automate tedious financial tasks. It automatically categorizes expenses, sets aside a percentage of your income for taxes, and helps you generate financial reports, saving you valuable time that can be better spent on client work.

Key Features and Pricing

Lili offers several tiers, allowing freelancers to choose the level of functionality they need. The free Basic plan covers essential banking, while paid plans unlock advanced automation, accounting features, and higher savings yields.

Feature Comparison	Basic Plan	Pro Plan	Smart Plan
Monthly Fee	$0	$15.00	$35.00
APY on Savings	4.15% (promotional)	4.15% (promotional)	4.15% (promotional)
Tax Bucket	Yes (manual)	Yes (automated)	Yes (automated)
Invoicing	2 per month	Unlimited	Unlimited
Expense Reports	No	Yes	Yes

All plans come with a Visa Business Debit Card, fee-free ATM access at over 38,000 locations, and no minimum balance requirements. The APY is promotional and subject to change.

Practical Tips for Freelancers

• Automate Your Tax Savings: Upon setup, immediately enable the “Tax Bucket” feature. In the Pro plan and above, it will automatically set aside a percentage of every incoming payment. This hands-off approach ensures you’re never caught off guard when quarterly taxes are due, a crucial step in budgeting for freelancers.
• Streamline Expense Tracking: Use the Lili debit card for all business purchases. The app will automatically categorize each transaction, making it easy to generate profit and loss statements. You can also upload receipts directly by taking a photo, keeping everything organized for tax time.

Lili is the perfect fit for sole proprietors and single-member LLCs who crave an all-in-one solution that merges daily banking with powerful bookkeeping and tax-planning tools.

Website: https://lili.co/

4. Found: Best All-in-One Banking and Bookkeeping

For self-employed professionals who want to simplify their financial admin, Found offers a powerful combination of banking, bookkeeping, and tax tools in a single, streamlined platform. This makes it the ideal bank account for freelancers who dread juggling multiple apps for invoicing, expense tracking, and tax planning. Found is designed from the ground up for Schedule C filers, automating many of the tedious tasks that come with being your own boss.

Found’s key advantage is its deep integration of financial management tools directly within the checking account. It automatically categorizes your expenses, tracks your income, and provides real-time estimates of your quarterly tax bill, helping you avoid surprises and stay organized without needing separate accounting software.

Key Features and Pricing

Found offers a robust free plan that covers all the essentials, alongside a paid “Plus” plan that unlocks advanced features and interest earning. Both plans are built around a no-credit-check, fee-free business checking account.

Feature Comparison	Found (Free)	Found Plus
Monthly Fee	$0	$19.99/mo or $149.99/yr
APY on Balances	N/A	1.5% (up to $20,000)
Bookkeeping	Basic (categorization, reports)	Advanced (custom categories, photo receipt capture)
Tax Features	Real-time tax estimates	Pay quarterly taxes directly from the app
Invoicing	Unlimited, customizable	Accept credit card payments
Virtual Cards	1	Unlimited

The free plan is incredibly capable, offering unlimited transactions, invoicing, and tax-tracking features that are more than sufficient for many freelancers.

Practical Tips for Freelancers

• Automate Tax Savings: Use Found’s “Tax Pocket” feature. Once enabled, it automatically sets aside a percentage of every incoming deposit based on your estimated tax rate. This “set it and forget it” approach ensures you always have enough cash on hand when quarterly payments are due.
• Snap Receipts on the Go: If you opt for Found Plus, get into the habit of using the mobile app to snap a photo of every business receipt immediately after a purchase. The app will auto-scan it, categorize the expense, and attach the image for your records, making bookkeeping effortless.

Found is the perfect solution for freelancers seeking an all-in-one financial tool that significantly reduces administrative work, allowing them to focus more on their craft and less on their finances.

Website: https://found.com/

5. Relay: Best for Envelope Budgeting and Profit First

For freelancers who thrive on organization and want to manage their money with precision, Relay offers a powerful solution built around multi-account banking. It’s the perfect bank account for freelancers who follow systems like the “Profit First” method, allowing you to create up to 20 individual checking accounts to separate funds for taxes, operating expenses, profit, and owner’s pay. This digital-first platform is designed for clarity and control over your business finances.

Relay’s core strength is its ability to eliminate the need for complex spreadsheets or mental math when allocating income. You can create dedicated accounts for every financial purpose, giving each dollar a job and providing a crystal-clear view of your cash flow at all times. This structure is ideal for freelancers dedicated to disciplined financial management.

Key Features and Pricing

Relay provides a tiered pricing model that supports your freelance business as it expands. The free Standard plan is robust, but paid plans unlock APY on savings, automated fund transfers, and more advanced features. All plans integrate seamlessly with accounting software like QuickBooks and Xero.

Feature Comparison	Standard Plan	Pro Plan
Monthly Fee	$0	$30
Checking Accounts	20	20
Savings Accounts	2 (with APY)	2 (with APY)
APY on Savings	1.00%	3.00%
ACH Payments	Free (Standard Speed)	Free (Same-Day)
Auto-transfer Rules	0	Unlimited

The Pro plan’s auto-transfer rules are a key differentiator, enabling a fully automated Profit First system where incoming payments are automatically distributed across your different accounts based on preset percentages.

Practical Tips for Freelancers

• Implement Profit First Immediately: Upon setup, create separate checking accounts labeled “Income,” “Profit,” “Owner’s Pay,” “Taxes,” and “Operating Expenses.” Direct all client payments to the “Income” account. Twice a month, manually (on the Standard plan) or automatically (on Pro) transfer funds from Income to the other accounts based on your target allocation percentages. This discipline is a core component of effective financial planning for freelancers.
• Collaborate with an Accountant: Use Relay’s role-based access to give your accountant or bookkeeper read-only access to your accounts. This streamlines your financial reporting and tax prep, as they can pull statements and view transactions directly without needing your login credentials.

Relay is the top choice for freelancers seeking to build a resilient and organized financial foundation through the strategic separation of funds.

Website: https://relayfi.com/

6. Square Banking: Best for Instant Access to Sales Revenue

For freelancers deeply embedded in the Square ecosystem, Square Banking offers an unparalleled level of integration. This solution combines a free business checking and savings account, making it the perfect bank account for freelancers who use Square for invoicing, payments, or point-of-sale transactions. Its main advantage is eliminating the wait time for funds; revenue from Square sales is available instantly in your Square Checking account, improving cash flow dramatically.

The platform is designed for simplicity and speed, allowing freelancers to manage their business finances directly within the same dashboard they use for sales. This tight integration automates financial tracking and saving, making it an excellent choice for creators, consultants, and service providers who value efficiency and immediate access to their earnings.

Key Features and Pricing

Square Banking is built around a no-fee structure, making it highly accessible. Both the Square Checking and Square Savings accounts have no monthly service fees, minimum balance requirements, or overdraft fees. This straightforward approach allows freelancers to keep more of their hard-earned money.

Feature Comparison	Square Checking	Square Savings
Monthly Fee	$0	$0
APY on Balances	N/A	1.00%
Instant Access to Sales	Yes, from Square POS/Invoices	N/A
ACH Transfers	Free (Next-day)	Free transfers to/from checking
Mobile Check Deposit	Yes	N/A

The primary value is the seamless flow of funds. Money from a client’s paid invoice appears in your checking account immediately, ready to be used with the Square Debit Card or transferred out.

Practical Tips for Freelancers

• Automate Tax Savings: Use Square Savings to create a “Tax” folder. Set up an automatic transfer to move a percentage of every Square sale directly into this folder. This “set it and forget it” approach ensures you are consistently setting aside funds for quarterly tax payments, earning a modest interest rate in the process.
• Manage Expenses with Sub-cards: If you work with assistants or subcontractors, you can issue up to five free debit cards linked to your account. This allows you to delegate purchasing power for business expenses while maintaining full control and visibility over spending directly from your Square dashboard.

Square Banking is the ideal financial hub for any freelancer who relies on the Square platform for revenue, offering unmatched speed and convenience for managing sales and savings.

Website: https://squareup.com/banking

7. Chase Business Complete Banking: Best for In-Person Service and Cash Deposits

For freelancers who value the trust and accessibility of a traditional bank, Chase Business Complete Banking offers a robust solution. It’s an ideal bank account for freelancers who handle cash transactions, need in-person services like notary or medallion signature guarantees, or simply prefer having a physical branch to visit. This account successfully blends the reliability of a large national bank with modern digital tools, providing a comprehensive banking experience.

Chase’s primary advantage is its immense physical footprint, with over 4,700 branches and 15,000 ATMs nationwide. This makes it incredibly convenient for freelancers who need to deposit cash or checks regularly without relying on mail or mobile deposit limits. The account also integrates payment processing directly, simplifying how you accept client payments.

Key Features and Pricing

The Chase Business Complete Banking account has a straightforward fee structure with clear requirements to waive the monthly service fee. This makes it accessible for freelancers at various income levels.

Feature	Details
Monthly Fee	$15 (waived with qualifying activities)
Cash Deposits	Up to $5,000 per month at no charge
Transactions	100 free electronic deposits and 20 free check deposits/withdrawals per month
Payment Acceptance	Integrated QuickAccept for card payments (2.6% + 10¢ per tap/dip/swipe)
Same-Day Deposits	Available for QuickAccept transactions at no extra cost
Branch/ATM Access	4,700+ branches and 15,000+ ATMs

You can waive the $15 monthly fee by maintaining a minimum daily balance of $2,000, making $2,000 in purchases on your Chase Ink Business card, or receiving $2,000 in deposits from QuickAccept transactions.

Practical Tips for Freelancers

• Integrated Payment Processing: Use the built-in QuickAccept feature to process credit card payments from clients. The funds are deposited into your account the same day, which is a significant cash flow advantage over platforms that can take several business days to pay out.
• Leverage In-Person Services: Take advantage of branch services that online-only banks can’t offer. This is perfect for getting documents notarized, securing a cashier’s check for a large business purchase, or speaking directly with a business banker about financing options as your freelance business grows. Keeping your business finances in order can also help you identify all your available freelancer tax deductions.

Chase Business Complete Banking is a superior choice for freelancers who want the security and full-service capabilities of a major bank while still enjoying modern digital conveniences.

Website: https://www.chase.com/business/checking

Freelancer Bank Account Comparison

Provider	Implementation Complexity 🔄	Resource Requirements ⚡	Expected Outcomes 📊	Ideal Use Cases 💡	Key Advantages ⭐
Bluevine	Moderate: Online setup, tiered plans	Moderate: Requires paid plans for best APY	Competitive interest, scalable for growth	Small businesses, freelancers scaling up	High APY, expanded FDIC, invoicing & payment links
Novo	Low: Fast online account opening	Low: No monthly fees, app-based controls	Smooth cash flow, good integrations	Freelancers, digital-first businesses	No fees/minimums, strong integrations, virtual & physical cards
Lili	Moderate: Multiple plan tiers	Variable: Paid tiers unlock features	All-in-one banking + tax/bookkeeping tools	Freelancers & small biz needing tax help	Competitive APY, automated tax savings, credit-building option
Found	Low to Moderate: Easy signup, mobile-first	Low: Free core plan available	Built-in bookkeeping & tax estimation	Freelancers Schedule C filers	Free invoicing, Schedule C tax tools, integration with payments
Relay	Moderate to High: Multi-account management	Moderate to High: Paid plans for automation	Precise fund separation & workflow automation	Organized budgeting users using Profit First	Multiple accounts, robust bookkeeping, QuickBooks/Xero sync
Square Banking (Checking + Savings)	Low: Integrated with Square POS	Low: No fees, simple setup	Instant sale access, easy savings automation	Freelancers using Square for payments	Instant funds from sales, automated savings, $0 fees
Chase Business Complete Banking	Moderate: Traditional bank account setup	Moderate to High: Monthly fee unless waived	In-person support, merchant services access	Freelancers needing cash handling & branch access	Nationwide branches/ATMs, QuickAccept POS, business credibility

Making Your Final Choice and Tracking Your Progress

Navigating the world of freelance finances begins with a foundational choice: selecting the right business bank account. We’ve explored a range of powerful options, each tailored to different freelance needs. From the high-yield checking offered by Bluevine to the team-focused, collaborative features of Relay, the ideal account is the one that seamlessly integrates into your unique workflow.

Your final decision hinges on what you value most. If your primary goal is automating tax savings and expense tracking, platforms like Lili and Found are built from the ground up to serve that exact purpose. For those who prioritize a fee-free experience with robust app integrations, Novo stands out as a strong contender. Meanwhile, freelancers deeply embedded in the Square ecosystem will find Square Banking to be an unparalleled, integrated solution, while those who need the security and extensive services of a traditional institution can rely on Chase Business Complete Banking.

From Selection to Implementation: A Practical Checklist

Choosing a bank account for freelancers is just the starting point. The real value emerges when you put it to work. As you make your selection, consider these crucial next steps to ensure a smooth transition and long-term success:

1. Review Eligibility Requirements: Before you apply, double-check that your business structure (sole proprietor, LLC, etc.) and documentation meet the bank’s criteria. This small step can save you significant time and effort.
2. Plan Your Funding Strategy: Decide how you will make your initial deposit and set a timeline for transitioning your client payments to the new account. Update your invoices with the new banking details immediately.
3. Connect Your Financial Toolkit: The true power of these modern bank accounts lies in their integrations. Make a list of your essential tools-invoicing software, payment processors, accounting platforms-and confirm they connect effortlessly with your chosen bank.
4. Establish Financial Habits: Use the features provided to build better habits. Set up automated transfers to a tax savings sub-account, categorize expenses as they happen, and schedule regular financial check-ins to review your cash flow.

Ultimately, the best account will not only hold your money but also actively help you manage it. When making your final choice among the options available, you might also find it useful to consider broader tips for finding the cheapest business bank account to ensure your decision is as cost-effective as it is functional.

A dedicated business bank account brings clarity to your freelance income. By separating your business and personal finances, you gain a clear, real-time view of your company’s health, turning a chaotic income stream into a predictable and manageable asset. This organization is the first, and most critical, step toward building a truly sustainable and profitable freelance career.

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Ready to see how your new business account fits into your total financial picture? Connect all your accounts, from business checking to personal investments, with PopaDex. Gain a holistic view of your net worth and track your progress toward your biggest goals in one simple, secure dashboard. Get started with PopaDex today and take control of your complete financial life.