Best business bank accounts for LLCs in 2026
We compared 9 providers across tax-structure support, multi-member access, APY, and integrations to help LLC owners pick the right business banking option in 2026.
Last verified: October 19, 2026. Features, pricing, and availability may vary. Always confirm current details directly with each provider.
If you’ve formed an LLC, your business banking decision is shaped by tax structure, ownership structure, and how much your business mixes with your personal finances. We compared 9 business banking options across the criteria that matter most for LLC owners: how the provider handles different LLC tax structures (single-member sole prop, S-Corp election, partnership, C-Corp), multi-member access for shared owners, pricing, banking features, bookkeeping and tax tools, and contractor management.
Found is a financial technology company, not a bank. Banking services provided by Lead Bank, Member FDIC.
TL;DR — quick overview by LLC use case
Each option below fits a specific LLC profile. Match yourself to the closest scenario; for most single-member LLCs taxed as sole props or via S-Corp election, Found bundles banking, bookkeeping, and tax-form generation in one app.
- Single-member LLC taxed as sole prop, or S-Corp-elected LLC, that wants banking + bookkeeping + tax-form generation in one app: Found — Best for built-in bookkeeping and Schedule C / 1120-S / 1120 form generation for single-member LLCs.
- Multi-member LLC with VC funding or treasury needs: Mercury — Best for multi-member LLCs with treasury and corporate-card needs.
- LLC that wants access to business credit alongside checking: Bluevine — Best for business lending alongside business checking.
- Multi-member LLC running multiple revenue streams or partner-allocation budgeting: Found — up to 20 Pockets, sub-accounts, each with its own account number, plus the option to route a percentage of every deposit into automatic tax savings; Relay if you need 20+ individual checking accounts across LLC partners.
- Single-member LLC wanting simple no-monthly-fee online banking: Novo — Best for single-member LLCs wanting fee-light online banking.
- LLC owner who runs the business from a phone: Lili — Best for small businesses that want app-based banking with accounting tools on higher tiers.
- LLC that needs physical branches and in-person services: Chase Business Complete Banking — Best LLC option for branch access.
- LLC that regularly handles cash deposits: Bank of America Business Advantage — Best for cash-deposit-heavy LLCs.
- LLC owner with strong existing American Express relationship: American Express Business Checking — Best for earning rewards on LLC debit-card spend.
How we evaluated
Before comparing providers, it helps to understand which LLC tax structure you’ve elected — because not every provider supports every structure equally, and this drives which features actually apply to you. Tax election decisions have material tax and legal implications and should be discussed with a qualified tax or legal professional. The summaries below describe what each election generally means for your banking choice — they are not tax or legal advice.
LLC tax structures and what they mean for banking choice
An LLC is a legal entity, but the IRS lets you choose how it’s taxed. The four common elections — and their implications for the providers in this article — are:
- Single-member LLC taxed as sole proprietor: Files Schedule C with personal Form 1040. Found supports Schedule C generation. Found Plus¹ and Found Pro¹ include in-app quarterly tax payments for Schedule C filers. From a banking standpoint, all 9 providers in this article support single-member LLCs filing Schedule C — Found also includes Schedule C generation on every plan and (with Found Plus¹ or Found Pro¹) in-app quarterly tax payments².
- LLC taxed as S-Corporation (S-Corp election): Files Form 1120-S. Found supports 1120-S form generation across all tiers. S-Corp filers can use Found for banking, bookkeeping, and 1120-S form generation, but should plan to handle their quarterly tax payments via their preferred method (Found’s in-app quarterly tax payment feature is for Schedule C filers²). S-Corp election has specific implications for owner compensation, distributions, and tax payments — consult a qualified tax or legal professional.
- Multi-member LLC taxed as partnership: Files Form 1065 with K-1s for each partner. Found does NOT currently support Form 1065 generation; multi-member LLCs taxed as partnerships should plan to use a separate tax-prep workflow. Banking features still apply.
- LLC taxed as C-Corporation (C-Corp election): Files Form 1120. Found generates Form 1120 on every plan, so C-Corp-elected LLCs can use Found for banking, bookkeeping, and Form 1120 generation. Found does not file tax returns, and its in-app quarterly tax payment feature is for Schedule C filers².
We compared each provider’s free or lowest-paid tier (we call this the ‘entry tier’ throughout this article — some providers have a free tier, others charge a waivable monthly fee on their base plan) against Found’s free plan, each provider’s mid tier against Found Plus¹, and each provider’s premium tier against Found Pro¹ — always matching the same tier level across brands so the comparison is apples-to-apples. For each provider we verified monthly cost, minimum balance requirements, APY (if any), included banking features, built-in bookkeeping and tax tools, contractor management capabilities, multi-member access, and which LLC tax structures the provider’s tax features cover. Every claim in this article is sourced against the provider’s own pricing and product pages as of the date at the top of this article. We update this article monthly and note the last-verified date on every publish.
The 9 business banking options for LLCs we reviewed
1. Found — Best for built-in bookkeeping and Schedule C / 1120-S / 1120 form generation for single-member LLCs
Found bundles automated bookkeeping, real-time tax estimates, Schedule C generation (for single-member LLCs taxed as sole prop), Form 1120-S and Form 1120 generation (for S-Corp- and C-Corp-elected LLCs), and free contractor 1099-NEC e-filing into a business checking account — with no monthly account maintenance fees on any plan¹. Every plan — including the free plan — includes a business checking account, a Mastercard Business debit card³, automated expense categorization, unlimited invoicing, real-time tax estimates, a tax savings bucket, and up to 20 Pockets (sub-accounts, each with its own account number).
LLC tax structure support: Found supports single-member LLCs taxed as sole proprietors (Schedule C) and LLCs taxed as S-Corp (Form 1120-S generation). Found also generates Form 1120 for C-Corp-elected LLCs. Found does not currently generate Form 1065, so multi-member LLCs taxed as partnerships can open Found accounts but should plan to use a separate workflow, or their CPA, for Form 1065 and partner K-1s.
Multi-member access: Found supports team cards (virtual and physical) on every plan, accountant access on every plan, and multi-business management for up to 5 separate business entities under one login — useful for LLC owners with multiple entities or for partners sharing access.
Contractor management and 1099-NEC e-filing are included at no extra cost. Every Found plan supports W-9 collection, ACH contractor payments, free instant payments between Found users⁴, and free 1099-NEC e-filing at year-end. Most providers in this article require a separate contractor-payment service (for example, QuickBooks Contractor Payments at $25/month) to match this.
Found Plus¹ ($35/month or $315/year)⁵ adds 1.50% Annual Percentage Yield (APY) on balances up to $20,000⁶, plus in-app quarterly tax payments for Schedule C filers² and priority support⁷. Separately, customers who opened an account on or after November 1, 2025 (including on the free Found plan) can earn a 2.00% APY bonus (variable) on balances up to $20,000 in any month they make $5,000 or more in qualifying card purchases⁸. (Found’s in-app quarterly tax payment feature is currently for Schedule C filers; S-Corp-elected LLCs can use Found’s 1120-S form generation but handle quarterly tax payments via their preferred method.) Unlike many competitors in this article, Found’s APY applies to your account balance rather than a separate savings account. Found Pro¹ ($80/month or $720/year)⁵ earns 2.50% APY on all balances⁶ (variable), includes a Metal⁹ Mastercard³, a dedicated account manager⁷, and 1% cash back on qualifying purchases¹⁰ (exclusions apply for ATM withdrawals, person-to-person transfers, and cash equivalents). Found Pro¹ adds a dedicated account manager and metal card on top of the multi-business management (up to 5 entities) that every Found plan includes.
There are no monthly account maintenance fees on any Found plan, but transactional fees for wires, instant transfers, and out-of-network ATMs may apply — see the Found Fee Schedule¹.
Who it’s best for: single-member LLCs taxed as sole proprietors who want banking + bookkeeping + in-app quarterly tax payments handled in one app, and single-member LLCs that have elected S-Corp status who want banking + 1120-S form generation.
Best for: bookkeeping + Schedule C / 1120-S / 1120 form generation for single-member LLCs.
2. Mercury — Best for multi-member LLCs with treasury and corporate-card needs
Mercury markets itself as a banking platform designed for technology startups and VC-backed businesses. The free tier includes a business checking account and a Mastercard debit card. Mercury is a financial technology company, not an FDIC-insured bank — banking services are provided through Choice Financial Group and Column N.A., Members FDIC. Mercury’s free checking tier has no minimum balance requirement. Mercury Treasury (a separate cash-management product, not a bank deposit) is designed to earn yield on idle cash up to 4.08% annually (variable; yield as of October 16, 2026, based on the 30-day Effective Yield for MCRYX and assumes total Mercury deposits of $20M+; see mercury.com/treasury for current rates); Treasury access requires a $250,000 minimum balance across Mercury accounts, and Mercury does not currently offer Treasury to LLCs taxed as sole proprietorships¹¹. Paid plans start at $29.90/month billed annually ($35/month billed monthly).
LLC tax structure support: Mercury offers Mercury Books, double-entry accounting software built into Mercury, as a $35/month add-on (fee waived through December 31, 2026 for customers who subscribe by December 1, 2026), and integrates directly with QuickBooks Online, Xero, and NetSuite (see mercury.com/accounting-integrations). Mercury files 1099-NEC and 1099-MISC forms but does not prepare business tax returns. Mercury supports any LLC tax election from a banking standpoint; for tax filing of Form 1065 (partnership-taxed LLCs) or Form 1120 (C-Corp-elected LLCs), customers handle filing themselves or via their CPA.
Multi-member access: Mercury supports multi-user access with standard Admin and Teammate roles, a templated Accountant role, and fully configurable custom roles. Mercury also supports dual-admin approval policies for outgoing payments. Combined with corporate cards and integrations with accounting platforms, this is well-suited to multi-member LLCs and venture-backed entities.
Who it’s best for: multi-member LLCs and venture-funded LLCs (including C-Corp-elected entities) that need treasury, corporate cards, and integrations with accounting platforms.
Best for: multi-member and VC-funded LLCs with treasury needs.
3. Bluevine — Best for business lending alongside business checking
Bluevine’s free Standard tier offers a business checking account with a Bluevine Business Debit Mastercard® and 1.30% Annual Percentage Yield (APY) on balances up to $250,000 (variable). Per Bluevine: “Standard plan customers will earn 1.3% annual percentage yield (“APY”) on total balances up to $250,000 for a given month only if they meet at least one Eligibility Requirement during that month’s Eligibility Period as described in the Terms of Interest Accrual. No interest earned on balances over $250,000.” — and those Eligibility Requirements are activity-based rather than balance-based: spend $500 per month with the Bluevine Business Debit Mastercard®, or receive or deposit $2,500 per month in customer payments (see bluevine.com/business-checking for current terms). Per Bluevine: “Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC. FDIC insurance only covers the failure of an FDIC-insured bank. FDIC insurance is available through pass-through insurance at Coastal Community Bank, Member FDIC, if certain conditions have been met. Bluevine accounts are FDIC insured up to $3,000,000 per depositor through Coastal Community Bank, Member FDIC and our program banks”¹². Bluevine Plus ($30/month, waivable¹³) earns 1.75% APY on balances up to $250,000, and Bluevine Premier ($95/month, waivable¹³) earns 3.00% APY on all Bluevine Business Checking balances (no cap; see bluevine.com/business-checking/plans-and-pricing for current terms).
LLC tax structure support: Bluevine does not include built-in bookkeeping or tax tools — customers typically connect to Xero or similar accounting software. Banking-side support works for any LLC tax election.
Multi-member access: Bluevine supports team collaboration with additional users (Bluevine sub-users).
Who it’s best for: LLC owners who want access to business credit alongside checking. Bluevine also originates business credit: a line of credit up to $250,000, term loans up to $500,000 through lending partners, and SBA 7(a) loans up to $350,000 via Fundera by NerdWallet. Line-of-credit eligibility requires at least $10,000 in monthly revenue, a 625+ personal FICO score, 12+ months in business, and a corporation or LLC — sole proprietorships are not eligible. See Bluevine for current terms.
Best for: earning APY on checking balances.
4. Relay — Best for multi-account allocation across LLC partners
Relay’s free Starter tier lets customers open up to 20 individual checking accounts and issue up to 50 virtual and plastic Relay Visa® debit cards per cardholder per account — useful for allocating money by purpose (taxes, payroll, owner draws, partner distributions) across separate accounts. Starter earns 1.19% APY on savings account balances (variable; no minimum balance required, no stated balance cap — see relayfi.com/pricing for current rates and conditions). Paid tiers — Grow ($30/month, 1.87% APY on savings balances + multi-step approval rules) and Scale ($120/month, currently discounted to $90/month for a limited time; 3.21% APY on savings balances, variable; up to 50 checking accounts per business) — add features like recurring invoices and bookkeeping automations (Grow) and no-fee same-day ACH (Scale) (see relayfi.com/pricing for current terms). APY applies to Relay savings accounts only, not checking. Relay is a financial technology company, not an FDIC-insured bank; banking services are provided through Thread Bank, Member FDIC.
LLC tax structure support: Relay does not include built-in tax tools, and its bookkeeping features (auto-categorized card purchases, plus bookkeeping automations on Grow) are built to sync with QuickBooks Online or Xero rather than replace them; it also connects to Gusto, Plaid, and Yodlee. Banking-side support works for any LLC tax election.
Multi-member access: Relay’s user permissions and team roles are well-suited to multi-member LLCs running shared accounts.
Who it’s best for: multi-member LLCs running a partner-allocation cash management system.
Best for: multi-account allocation across LLC partners.
5. Novo — Best for single-member LLCs wanting simple, no-monthly-fee online banking
Novo offers one tier with no monthly fees and no minimum balance requirement. The account includes a Mastercard debit card, Novo Reserves (up to 20 buckets inside your checking account for setting aside money), unlimited free Novo Invoices, and Novo’s AI-powered bookkeeping with automatic transaction categorization, P&L reports, and tax-friendly categories, with CSV exports you can share with your accountant. Novo checking balances do not earn APY. Banking services are provided by Middlesex Federal Savings, F.A., Member FDIC¹².
LLC tax structure support: Novo’s tax-friendly categories and P&L/CSV exports suit single-member LLCs taxed as sole proprietors who prepare Schedule C themselves or with an accountant. For S-Corp, partnership, or C-Corp-elected LLCs, customers handle their own tax workflow.
Multi-member access: Novo supports team access on its single tier.
Who it’s best for: single-member LLCs that want a no-monthly-fee online checking account with light automated bookkeeping and broad e-commerce integrations (QuickBooks, Stripe, Square, Shopify, Etsy, Amazon).
Best for: no-monthly-fee online banking with automated categorization.
6. Lili — Best for small businesses that want app-based banking with accounting tools on higher tiers
Lili offers four tiers: Lili Core ($0/month), Lili Pro ($15/month), Lili Smart ($35/month), and Lili Premium ($55/month). All tiers include a business checking account, a Lili Visa® Debit Card, and access to the Lili Savings Account, which earns 2.25% APY on Lili Savings Account balances up to $500,000 and 4.00% APY on the portion of balances between $500,000 and $1,000,000 (tiered structure: customers earn 2.25% on the first $500K and 4.00% on the portion from $500K to $1M; balances above $1M do not earn APY). APY is variable and subject to change; rates as of January 2026 — see Lili for current rates. Lili is a financial technology company, not a bank; banking services are provided by Sunrise Banks, N.A., Member FDIC¹².
LLC tax structure support: On the Smart and Premium tiers, Lili provides pre-filled IRS tax forms, including Schedule C, Form 1065, and Form 1120-S, based on your transaction categorization. Lili does not list Form 1120 for C-Corp-elected LLCs. (Informational only — not tax or legal advice.)
Multi-member access: Lili supports adding business owners, administrators, accountants, or managers, each with their own login and role-based permissions.
Who it’s best for: small businesses that want app-based banking with accounting tools on higher tiers.
Best for: app-based banking with accounting tools on higher tiers.
7. Chase Business Complete Banking — Best LLC option needing physical branches
Chase Business Complete Banking® has a $15 monthly service fee, waivable each statement period by maintaining a $2,000 minimum daily ending balance, receiving $2,000 in eligible Chase QuickAccept® or other Chase Payment Solutions deposits, spending $2,000 in eligible purchases on a Chase for Business credit card, linking a qualifying Chase Private Client Checking℠ or JPMorgan Classic Checking account, or meeting Chase Military Banking requirements (see Chase’s Business Complete Banking fee schedule at chase.com/business/banking/checking/business-complete-banking for current waiver terms). Chase operates over 5,000 branches and more than 14,000 ATMs nationwide, offers in-person card acceptance via Chase QuickAccept, and is directly FDIC-insured as a bank. Higher tiers — Chase Performance Business Checking® ($40/month, waivable at a $35,000 balance) and Chase Platinum Business Checking℠ ($95/month, waivable at a $100,000 balance) — add higher transaction allowances.
LLC tax structure support: Chase does not include built-in bookkeeping or tax tools. Multi-user access is supported through Chase’s Access & Security Manager℠ — letting the account owner create individual user profiles, control which accounts each user can see, and monitor user activity. Well-suited to multi-member LLCs.
Who it’s best for: LLCs that need physical branch access, accept cash or checks regularly, or prefer a traditional banking relationship.
Best for: traditional banking with physical branch access.
8. Bank of America Business Advantage — Best for cash-deposit-heavy LLCs
Bank of America’s Business Advantage Fundamentals™ account has a $16 monthly fee, waivable by maintaining a $5,000 combined average monthly balance, by spending at least $500 in new net qualifying debit-card purchases per statement cycle, or by enrolling in Preferred Rewards for Business. No monthly service fee is charged for the first 12 statement cycles (transactional fees for wires, non-network ATMs, and other services still apply per the Bank of America business fee schedule). The account includes free cash deposits up to $5,000 per statement cycle and access to approximately 15,000 Bank of America ATMs. Bank of America, N.A. is Member FDIC¹².
LLC tax structure support: BofA does not include built-in bookkeeping or tax tools but offers Cash Flow Monitor, Zelle for business, multi-user access via Bank of America’s Account Management service (the owner can grant additional users customized access to view or transact on each account), and integrations with QuickBooks.
Who it’s best for: LLCs that regularly deposit cash, need a wide branch and ATM network, or want to consolidate personal and business banking at a traditional bank.
Best for: LLCs that deposit cash regularly.
9. American Express Business Checking — Best for earning rewards on LLC debit-card spend
American Express® Business Checking has no monthly maintenance fee, no minimum opening deposit, and no minimum balance requirement. It pays 1.00% Annual Percentage Yield on account balances up to $500,000 (variable; no interest is earned on balances above $500,000; APY is subject to change at any time without notice, per American Express National Bank’s Business Checking Rates & Fees; rate as of October 19, 2026) and earns 1 Membership Rewards® point for every $2 spent on eligible Business Debit Card purchases. The account includes fee-free cash withdrawals at more than 70,000 Allpoint® and MoneyPass® ATM locations nationwide and FDIC insurance via American Express National Bank, Member FDIC. New users may be eligible for a welcome offer after meeting qualifying criteria.
LLC tax structure support: Amex Business Checking does not include built-in bookkeeping or tax tools and is designed for LLCs already in the American Express card ecosystem.
Multi-member access: Amex Business Checking lets you invite employees to get account access; once approved, admin users can have a debit card, manage payees, and make payments.
Who it’s best for: LLCs with an existing American Express Business Card who want to earn Membership Rewards on debit-card spending in addition to card spend.
Best for: earning rewards on LLC debit-card spend.
Summary comparison — LLC feature matrix
This table compares each provider across its plan tiers for LLC owners. See required disclaimers below the table.
| Provider | Required monthly fees | APY | LLC structures Found tax support | Multi-member access | Bookkeeping | Physical branches |
|---|---|---|---|---|---|---|
| Found¹⁴ (free / Plus¹ / Pro¹) | Free: $0 / Plus¹: $35/mo or $315/yr / Pro¹: $80/mo or $720/yr | Plus¹: 1.50% APY on balances up to $20,000⁶ (variable); Pro¹: 2.50% APY on all balances⁶ (variable) | Found supports SP-taxed (Schedule C), S-Corp-taxed (1120-S), and C-Corp-taxed (1120); not 1065 | Team cards + accountant access on every plan (multi-business up to 5 entities) | Yes (automated categorization + P&L) | No |
| Bluevine (Standard / Plus / Premier) | $0 / $30/mo waivable¹³ / $95/mo waivable¹³ | Premier: 3.00% APY on all Bluevine Business Checking balances (no cap)* | Banking-side: any LLC structure | Sub-users supported | No (QB integration) | No |
| Novo (single tier) | $0 (no monthly fee, no minimum balance) | No APY on checking | Banking-side: any LLC structure (P&L and CSV exports) | Team access supported | AI categorization + P&L reports | No |
| Relay (Starter / Grow / Scale) | $0 / $30/mo / $120 (limited-time $90) | Scale: 3.21% APY on savings account balances (variable)* | Banking-side: any LLC structure | User permissions + team roles | Bookkeeping automations (Grow; sync to QB/Xero) | No |
| Mercury (free / Plus / Pro) | $0 / $35/mo ($29.90 annual) / $350/mo ($299 annual) | Mercury Treasury¹¹: up to 4.08% (variable; $20M+ deposits; not FDIC-insured; $250K min for Treasury) | Banking-side: any LLC structure (incl. C-Corp-elected) | Admin / Teammate / Accountant + custom roles | Add-on (Mercury Books, $35/mo; fee waived through Dec 31, 2026) or QB/Xero/NetSuite | No |
| Lili (Core / Pro / Smart / Premium) | $0 / $15/mo / $35/mo / $55/mo | Savings: 2.25% APY on balances up to $500K; 4.00% APY on $500K–$1M (variable; all plans)* | Pre-filled Schedule C, 1065, 1120-S (Smart/Premium) | Role-based team access (owners, admins, accountants) | Lili AI (Smart/Premium only) | No |
| Chase (Business Complete / Performance / Platinum) | $15/mo / $40/mo / $95/mo (each waivable¹³) | No interest on Business Complete or Platinum; interest-bearing Performance option available (variable rate; no monthly fee waiver) | Banking-side: any LLC structure | Multi-user access via Access & Security Manager℠ | No | Yes (5,000+ branches, 14,000+ ATMs) |
| BofA (Fundamentals / Relationship Banking) | $16/mo waivable¹³ / $29.95/mo waivable¹³ | None (Business Advantage checking is non-interest-bearing) | Banking-side: any LLC structure | Multi-user access via Account Management (owner + sub-users) | Cash Flow Monitor only | Yes (~3,500 financial centers, ~15,000 ATMs) |
| Amex Business Checking | $0 | 1.00% APY on account balances up to $500,000 (variable)* | Banking-side: any LLC structure | Multi-user (employee) access | No (QB/Xero integrations) | No |
What it costs to get equivalent features elsewhere
Most providers in this comparison offer a business checking account only — bookkeeping, contractor payments, 1099 e-filing, and tax tools are separate products you’d add through integrations or paid add-ons. Found bundles these into its free plan at $0/month. For an LLC owner who wants automated bookkeeping, invoicing, and the ability to pay contractors and file 1099-NECs, here’s what a comparable stack looks like:
| Stack | Business checking | Bookkeeping | Contractor payments + 1099 e-file | Required monthly fees |
|---|---|---|---|---|
| Found (free plan)¹⁴ | Included | Included (automated, Schedule C, 1120-S, and 1120) | Included (W-9, ACH, 1099-NEC e-file) | $0 |
| Bluevine Standard + QuickBooks + QuickBooks Contractor Payments | Bluevine Standard ($0) | QuickBooks Simple Start (~$38) | QuickBooks Contractor Payments ($25/mo, up to 20 contractors, includes 1099 e-filing) | ~$63+ / month |
| Relay Starter + Xero + Gusto | Relay Starter ($0) | Xero Early (~$27) | Gusto Simple, Gusto’s lowest current plan ($49/mo base + $6 per person) | ~$82+ / month |
| Chase Business Complete + QuickBooks + QuickBooks Contractor Payments | Chase Business Complete ($15) | QuickBooks Simple Start (~$38) | QuickBooks Contractor Payments ($25/mo, up to 20 contractors, includes 1099 e-filing) | ~$78+ / month |
Note on QuickBooks pricing: QuickBooks offers a $0/month “QuickBooks Free” plan, which includes income and expense tracking, 2 invoices per month, one connected bank, and a profit & loss report, for 1 user with no accountant access and without the mobile app or third-party integrations. Automated bookkeeping and automatic expense categorization — the capabilities compared in this article — begin with QuickBooks Simple Start at $38/month. Figures are regular monthly list prices verified at quickbooks.intuit.com/pricing on October 19, 2026; promotional intro pricing may be lower. See QuickBooks for current plans and pricing.
Note: QuickBooks (~$38) and Xero (~$27) figures are regular monthly list prices; promotional intro pricing may be lower. QuickBooks Contractor Payments is $25/month, includes up to 20 contractors and 1099 e-filing, and adds $2 per additional contractor. Gusto no longer offers its Contractor Only plan to new customers (as of October 1, 2026); Gusto Simple, Gusto’s lowest current plan, is $49/month base plus $6 per person, billed only in months a contractor is paid. Totals assume one contractor; per-person fees scale with the number of contractors paid.
What to consider when choosing a business banking option for your LLC
1. How is your LLC taxed?
This is the single biggest factor. Single-member LLCs taxed as sole prop file Schedule C — most providers including Found work well. LLCs that have elected S-Corp status file Form 1120-S — Found supports 1120-S generation; most competitors don’t include built-in tax-form generation. Multi-member LLCs taxed as partnerships file Form 1065 — Found does NOT generate 1065 (you’ll need a separate tax-prep workflow); banking still works fine. C-Corp-elected LLCs file Form 1120 — Found generates Form 1120 on every plan; Mercury and Chase are also commonly used for C-Corp banking.
2. Single-member vs. multi-member?
Multi-member LLCs need shared owner access and may have more complex cash flow (multiple owner draws, partner distributions). Mercury, Relay, BofA, and Chase all support multi-user / role-based access. Lili supports role-based team access. Found supports team cards and accountant access on every plan, plus multi-business management for up to 5 separate entities — useful if your LLC owners run multiple businesses.
3. Do you need to earn yield on idle balances?
If you keep meaningful cash in the LLC, compare APY structures at the same tier. Bluevine earns 1.30% APY on balances up to $250,000 (Standard) and Amex earns 1.00% APY on balances up to $500,000 (variable); Mercury offers higher yield via Treasury (with caveats — see ¹¹); Found Plus¹ earns 1.50% APY on balances up to $20,000⁶ and Found Pro¹ earns 2.50% APY on all balances⁶ (variable); separately, customers who opened an account on or after November 1, 2025 (including on the free Found plan) can earn a 2.00% APY bonus (variable) on balances up to $20,000 in any month they make $5,000 or more in qualifying card purchases⁸. Always read the activity requirements — many checking APYs require monthly spend minimums.
4. Do you handle cash deposits?
If yes, a traditional bank with branches (Chase, Bank of America) will usually be more practical. Online-first providers either don’t support cash deposits or route them through retail or partner networks that charge fees. Found, for example, accepts cash at 79,000+ retail locations for a $2.00 fee per deposit¹⁵.
5. Need to handle multiple LLCs or related entities?
Found supports up to 5 separate businesses under one login, with shared accountant access. Bluevine, Lili, and Mercury also let owners manage multiple businesses from one login. Bank of America lets small business clients link multiple businesses under one online ID; Chase can support multiple business accounts, one per entity.
6. Do you pay contractors regularly?
If yes, Found includes contractor W-9 collection, ACH payments, and 1099-NEC e-filing in every plan at no extra charge. Most other providers require a separate contractor payments service (often an add-on cost — for example QuickBooks Contractor Payments at $25/month).
Frequently asked questions
Is Found a bank?
Found is a financial technology company, not a bank. Banking services are provided by Lead Bank, Member FDIC. Deposits are FDIC-insured up to $250,000 per depositor through Lead Bank. FDIC insurance only covers the failure of an FDIC-insured depository institution.
What is the best business bank account for a single-member LLC?
Single-member LLCs taxed as sole proprietors file Schedule C. Found includes Schedule C generation and real-time tax estimates on every plan, and (with Found Plus¹ or Found Pro¹) in-app quarterly tax payments². For LLC owners who don’t need built-in bookkeeping, Novo and Bluevine are strong no-monthly-fee options.
What is the best business bank account for a multi-member LLC?
Multi-member LLCs taxed as partnerships file Form 1065 — Found doesn’t generate Form 1065 directly, so you’ll handle tax filing separately (Lili provides a pre-filled Form 1065 on its Smart and Premium tiers). For banking-side support, Mercury, Relay, Chase, and Bank of America all have strong multi-user/role-based access. If your multi-member LLC has elected S-Corp status (filing Form 1120-S), Found generates Form 1120-S on every plan; in-app quarterly tax payments are for Schedule C filers on Found Plus or Found Pro², so S-Corp filers handle estimated payments separately.
Does Found support LLCs that have elected S-Corp status?
Yes — Found generates Form 1120-S across all tiers, which is the form S-Corp-elected LLCs file. Found Plus¹ ($35/month or $315/year) and Found Pro¹ ($80/month or $720/year) include in-app quarterly tax payments² for Schedule C filers; S-Corp-elected LLCs can use Found for banking, bookkeeping, contractor management, and 1120-S form generation, but should plan to handle quarterly tax payments via their preferred method (Found’s in-app quarterly tax payment feature is currently for Schedule C filers). S-Corp election decisions have material implications and should be discussed with a qualified tax or legal professional.
Does Found support LLCs taxed as partnerships (Form 1065)?
Found does NOT currently generate Form 1065. Multi-member LLCs taxed as partnerships can open Found accounts and use the banking, bookkeeping, and contractor features, but should plan to use a separate tax-prep workflow (or their CPA) for Form 1065 and the K-1s for each partner.
Does Found support LLCs that elected C-Corp status (Form 1120)?
Yes. Found generates Form 1120, the form C-Corp-elected LLCs file, on every plan, from your categorized transactions. Found does not file tax returns or provide tax or legal advice, and its in-app quarterly tax payment feature is for Schedule C filers².
Which of these accept cash deposits?
Chase Business Complete Banking and Bank of America Business Advantage accept cash deposits at their branches and ATMs. Found accepts cash deposits at 79,000+ retail locations for a $2.00 fee per deposit¹⁵. Most other online-first providers (Novo, Relay, Bluevine, Mercury, Lili, Amex Business Checking) either don’t accept cash or route it through retail or partner networks that typically charge per-deposit fees — confirm with each provider.
Do any of these providers offer APY on checking or savings balances?
Several do, subject to eligibility and terms. Bluevine’s Standard tier earns 1.30% APY on balances up to $250,000 with eligibility requirements (see Bluevine’s Business Checking eligibility terms at bluevine.com/business-checking for current criteria); Plus earns 1.75% APY on balances up to $250,000 and Premier earns 3.00% APY on all Bluevine Business Checking balances (see bluevine.com/business-checking/plans-and-pricing for current terms). Amex Business Checking earns 1.00% APY on account balances up to $500,000 (no APY is earned on balances above $500,000; variable). Mercury Treasury earns up to 4.08% annually (variable; as of October 16, 2026, for total Mercury deposits of $20M+; see Mercury for current rates), but Treasury access requires a $250,000 minimum balance across all Mercury accounts¹¹. Relay offers 1.19%–3.21% APY (variable) on savings account balances by tier; Lili offers 2.25%–4.00% APY (variable) on Lili Savings Account balances (tiered); see each provider for current rates and terms. Found is structured differently: APY applies to your account balance rather than a separate savings account. Found Plus¹ ($35/month or $315/year) earns 1.50% Annual Percentage Yield (APY) on balances up to $20,000⁶ and Found Pro¹ ($80/month or $720/year) earns 2.50% APY on all balances⁶. Separately, customers who opened an account on or after November 1, 2025 (including on the free Found plan) can earn a 2.00% APY bonus (variable) on balances up to $20,000 in any month they make $5,000 or more in qualifying card purchases⁸. APY is variable — confirm current rates with each provider.
How often is this article updated?
We re-verify every claim against each provider’s pricing and product pages on the first of every month, and update the article when pricing, APY, or feature availability changes. The ‘Last verified’ date at the top of the article reflects the most recent review.
What if I’m not specifically looking for an LLC bank account?
If you’re a sole proprietor or evaluating options without an LLC-specific lens, see our broader Best business bank accounts for small businesses in 2026 guide, which compares the same 9 providers across general small business needs (pricing, APY, bookkeeping, contractor payments) rather than LLC tax-structure fit.
What if my LLC has employees and we’re scaling?
If your LLC has 5–25 employees (W-2 or 1099), needs multi-user banking access for the team, and runs payroll through Gusto, Rippling, QuickBooks Payroll, or ADP, see our Best business bank accounts for growing businesses with employees in 2026 guide. It compares the same seven providers under growing-business criteria — corporate-card programs, treasury and yield products at scale, multi-step payment-approval workflows, and team-scale tier features.