Best Bank Accounts for Freelancers in November 2025

Whether you freelance full-time or on the side, setting up a separate business bank account to manage your income and expenses can make your financial life much easier. 

The best bank accounts for freelancers allow you to access your money when you need it, make it simple to invoice clients, and, most importantly, help you set aside the right amount of money to pay self-employment taxes. 

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Best for Earning Interest

Fintech company Bluevine has one of the very few business checking accounts that offers interest on balances. 

The Bluevine Standard account earns 1.3% APY on balances up to $250,000, but the Bluevine Premier Business Checking account can earn up to 3.25% on balances up to $3 million.

To earn interest with the Standard account, you must do one of the following each month:

• Spend $500 with a linked debit card
• Receive $2,500 per month in payments

The Standard account is free but the higher-earning accounts charge $30 to $95 per month. These fees can be waived if you maintain the minimum daily balance in your account and reach the spending requirement each month.

Bluevine makes it easy to manage your money because you can set up sub-accounts. These accounts can help you create an emergency fund or separate your taxes from your income.

I personally use Bluevine for my freelance business, and it’s been a great tool. I love being able to segregate my money into different accounts and earn interest on the balance in my checking account. 

The only downside is that Bluevine is a fintech, not a traditional bank. They partner with Coastal Community Bank in Washington state to provide FDIC insurance. 

If you receive a lot of cash payments, you might be better off working with a bank that offers brick-and-mortar or ATM services.

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Best for Minimal Fees

With no monthly fees, no-fee overdraft, no fees to deposit checks, and free incoming wires, the nbkc Business Checking Account is suited to emerging freelancers or just anyone who wants to keep their business banking costs to a minimum.

There's also no minimum balance required, and you'll even get reimbursed up to $12/month in fees for out-of-network ATM use.

The only catch is that since nbkc's physical branches are only located in the Kansas City area, you need to be comfortable with online-only banking if you are outside of that region.

If you want more than just a checking account, you can also access nbkc's online offerings such as a business money market account and business CDs. The bank also offers business loans, but only for customers in the Kansas City area.

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Best for Business Basics

The Axos Basic Business Checking is good for freelancers who rely on old-school business services like check-writing. You’ll get your first order of business checks for free.

There’s no monthly fee, and you can make unlimited transactions each month with no restrictions. In addition to checks, you’ll get a debit card to use with your account.

Axos Bank also offers a Business Interest Checking that earns up to 1.01% APY and requires only a $100 minimum opening deposit. If you maintain an average daily balance of at least $5,000, the monthly fee is waived.

There's also a Business Premium Savings Account, which earns up to 3.80% APY regardless of account balance.

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Best for Built-In Invoicing

Novo is a fintech company that integrates with business software like Stripe, PayPal, and Square to make it easy to manage your business transactions. 

The fee-free Novo Business Checking account comes with a built-in invoicing feature. This makes it easy to create professional-looking invoices to send to your clients.

Novo doesn’t charge a monthly maintenance fee and there are no minimum balance requirements.

If you rely on cash payments, Novo won’t be a good option for you. While you can use your Novo debit card to withdraw cash from any ATM for a fee, you won’t be able to deposit cash into your Novo account.

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Best for Traditional Banking

Chase is one of the largest banks in the United States, with more than 4,700 branches. That means you can access traditional brick-and-mortar banking alongside its digital platform.

The Chase Business Complete Checking® account is ideal for freelancers. While it does come with a $15 monthly maintenance fee, that can be waived several ways, including if you maintain a daily balance of $2,000 or receive $2,000 in deposits during the statement cycle.

You can make 20 fee-free transactions per month and Chase offers quick payment processing to help you get paid faster.

Do Freelancers Need a Business Bank Account?

You might not need a separate business bank account when you’re just starting as a freelancer. But at some point, you might begin earning enough that it makes sense to have an account separate from your personal account.

A business bank account will help you set aside income for taxes and keep a clean record in case you’re audited. 

Freelancers, contractors, and anyone who is self-employed has to pay a 15.3% self-employment tax. This is what an employer pays for Social Security and Medicare on your behalf and is separate from your income tax. 

Keeping this money tucked away in a business bank account can ensure you pay it come tax time.

A business bank account can help you look more professional, too. It makes it easier to collect and manage customer payments while giving you the ability to pay vendors or purchase things for your business. 

This might not seem like a big deal but it’s an important mindset shift that takes freelancing from a side hustle and turns it into a real business.

READ MORE: Best Business Credit Cards

FAQs

The Bottom Line: Banking as a Freelancer

Whether you freelance full-time or as a side hustle, a separate bank account can help you keep track of your income.

Some bank accounts offer invoicing and software integrations that make it easier to get paid. Others don’t charge monthly fees or have minimum balance requirements, which makes them ideal for freelancers who are just getting started.

For more tips on managing your freelance business, check out these episodes of the Erika Taught Me podcast:

• 99% of Business Owners Make This Mistake
• How To Make Your First $100,000
• $270,000,000 Worth of Business Advice