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Best Business Bank Accounts for New LLCs
What new LLC owners should compare before opening a checking account.
Separate business banking helps preserve clean records.
Fees, cash deposits, transfers, and integrations matter.
Do not choose only by sign-up bonus.
Quick Answer
A new LLC should usually open a dedicated business checking account as soon as formation documents and EIN or tax information are ready. The best account depends on transaction volume, cash deposits, ATM needs, wire transfers, bookkeeping integration, and whether you need branches.
What to Compare
- Monthly maintenance fee and ways to waive it.
- Minimum balance requirements.
- ACH, wire, check, debit card, and ATM fees.
- Cash deposit limits and branch access.
- Mobile deposit limits.
- Bookkeeping, payroll, invoicing, and payment processor integrations.
- Subaccounts, envelopes, or reserve accounts for taxes and profit.
Documents Often Needed
Banks commonly ask for formation documents, EIN confirmation or tax identification, operating agreement, ownership information, business address, personal identification, and sometimes a business license.
Avoid These Mistakes
- Mixing personal and business funds.
- Using payment apps without clean bookkeeping exports.
- Ignoring cash deposit fees for cash-heavy businesses.
- Letting a sign-up bonus outweigh day-to-day fees.
Next Best Step
Write down your expected monthly deposits, withdrawals, cash deposits, card payments, transfers, and software needs. Compare accounts using that pattern.