Best business accounts for Freelancers and Sole Traders in United States
Snapshot
Freelancers and sole traders in the United States usually want a free or low cost account that keeps business money separate, with simple records for tax time. Many can open online with a Social Security number, while a single member LLC opens with an EIN.
Suits Freelancers and Sole Traders best
Depends on whether you want bookkeeping built in or interest on balances
Typical monthly fee
From no monthly fee to about 30 USD a month by plan
Opening with an SSN
Commonly possible for sole proprietors. Verify with the provider.
Providers that fit
Three reviewed here
Fees and features as of 20 May 2026Last reviewed 20 May 2026
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
Freelancers and sole traders care most about keeping business money separate, paying little or nothing a month, and making tax records easy. As of 20 May 2026, Found suits people who want bookkeeping and tax estimates inside the account, Novo suits those who want a free and simple account with many app connections, and Bluevine suits freelancers who want to earn interest on a balance. Compare current fees and features before choosing.
What Freelancers and Sole Traders in the United States need from a business account
A separate business account keeps income and expenses clean, which makes self employment tax far easier to file. Most freelancers want no monthly fee, fast online opening, a debit card, and a tidy export to accounting software. A sole proprietor can often open with a Social Security number, while forming a single member LLC and opening with an EIN can add a layer of separation and keep your Social Security number off invoices. Confirm current terms with the provider.
F
Found
Built for the self employed, with bookkeeping and tax estimate tools inside the account, but it is a single account aimed at solo work rather than larger teams.
Best for
Bookkeeping and tax in one place
Monthly fee
No monthly fee on the basic plan, paid plan available
No monthly fee on the Standard plan and can pay interest where monthly activity conditions are met, but the interest rate depends on qualifying spend or deposits and higher plans carry a fee.
Compare accounts for Freelancers and Sole Traders in the United States
These providers accept freelancers and sole traders in the United States. Fees and eligibility shown as of 20 May 2026. Confirm current terms with the provider before applying.
Questions about banking for Freelancers and Sole Traders in the United States
Can a freelancer open a business account in the United States with an SSN?
Often yes. As of 20 May 2026, accounts built for the self employed such as Found, Novo and Bluevine commonly accept sole proprietors who apply with a Social Security number, while a single member LLC can open with an EIN. Requirements vary, so confirm with the provider before applying.
Do freelancers need an EIN to open a business account?
Not always. A sole proprietor can often open with a Social Security number, while a single member LLC usually needs an EIN. Getting an EIN is free from the IRS and can keep your Social Security number off invoices. Confirm the document list with the provider as of 20 May 2026.
Which freelancer account has bookkeeping built in?
Found is built for the self employed and includes bookkeeping and tax estimate tools inside the account as of 20 May 2026. Novo and Bluevine focus on free checking and connect to outside accounting tools instead. Check the current feature set with the provider.
Is there a free business account for freelancers in the United States?
Yes. As of 20 May 2026, Novo and Found offer no monthly fee checking, and Bluevine has a no monthly fee Standard plan that can pay interest where monthly activity conditions are met. Verify current fees with the provider.
Fees, features, and eligibility change and vary by region. This page was last reviewed on 20 May 2026. Confirm current terms with the provider before applying.