The Best Free Business Bank Account for Small Businesses
Mercury, Relay, or Bluevine? Here's what actually works for a bootstrapped small business with no minimum balance.
Your personal bank account is not your business bank account. Even if you're solo. Even if you're small. Keep them separate from day one — it protects your LLC liability shield and makes taxes a hundred times easier.
Mercury — my recommendation for most founders. No fees, no minimum balance, online-only, excellent UX. Integrates with Stripe, Gusto, and most business tools. FDIC insured up to $5M through their partner banks. Free wire transfers. Easy to open with your EIN and LLC docs.
Relay is the runner-up. Similar to Mercury, slightly better for teams because it has expense management built in. Good if you plan to hire quickly.
Bluevine offers a 2% APY on your balance, which sounds great but usually isn't worth the slightly worse UX if you're keeping small balances.
Avoid the big banks for small business. Chase, Bank of America, and Wells Fargo charge $15-25/month in fees and require minimum balances. They're designed for mid-market businesses, not bootstrapped founders. Their "free" accounts usually aren't.
What you need to open a business bank account: - Your EIN (free from IRS.gov — takes 5 minutes) - Your LLC formation documents - Your registered agent information
That's it. Mercury can be opened in 20 minutes online. No branch visit required.
Run all business income through it. Pay all business expenses from it. Your accountant will thank you, and your LLC protection actually means something.
Written by Joshua Bostic — Founder, Gilgamesh Enterprise LLC