Best banks for virtual assistants in 2026
Finding the best banks for virtual assistants is a critical step in launching or scaling your business. For virtual assistants, choosing the right banking partner can significantly improve cash flow and reduce administrative overhead. This guide breaks down the key factors to consider, including account fees, online features, and integration capabilities, to help you make an informed decision for your company's financial health and growth.
Industry pain points
Virtual assistants often grapple with unique financial challenges that can hinder their growth and operational efficiency. Traditional banking solutions may not fully address the dynamic needs of a remote, project-based business model, creating unnecessary friction. Here are some of the most common financial pain points these businesses encounter.
- Irregular cash flow: Many VAs manage fluctuating income based on project cycles and client payment schedules, making it difficult to maintain consistent cash reserves.
- High transaction fees: Standard bank accounts can come with fees for transfers, payments, and other necessary transactions that quickly add up and reduce profitability.
- Separating business and personal finances: Without a dedicated business account, tracking expenses for tax purposes and understanding the company's true financial health becomes a significant challenge.
- Limited access to credit: Newer or smaller VA businesses often struggle to qualify for loans or lines of credit from traditional institutions, limiting their ability to invest in growth.
Highlights
- Bluevine - Bluevine offers virtual assistants a powerful, all-in-one digital banking platform designed to streamline cash flow and support growth.
- Other options include a range of traditional and digital banking solutions like Novo, Mercury, Lili, Relay, and more.
- How to choose - Finding the best business bank account for a virtual assistant is based on key factors such as integration capabilities, fee structures, and online features.
Best small business bank
Bluevine
Bluevine is a financial technology company1 that provides an all-in-one digital banking platform built to empower small businesses. We designed our business checking account to address the challenges virtual assistants face, combining high-yield interest2 with powerful tools for invoicing, bill pay, and expense management. Our platform enables you to manage finances entirely online, streamline cash flow with automated accounts payable,3 and reduce administrative overhead—all without monthly fees for our Standard plan,4 so you can focus on growing your business.
How Bluevine addresses the challenges of virtual assistants
- Irregular cash flow: Bluevine helps you stabilize your company's cash reserves with a Bluevine Business Checking account that earns high-yield interest2 on your balance. You can also streamline payments with automated bill pay and invoicing tools, giving you greater control and predictability over your money.
- High transaction fees: Our platform helps you reduce overhead by eliminating many common banking costs. With Bluevine Business Checking, you get an account with no monthly service fees,4 no overdraft fees, and free standard ACH transfers, allowing you to keep more of your revenue.
- Separating business and personal finances: Bluevine makes it easy to organize your finances. You can create up to 20 sub-accounts5 to separate funds for taxes, payroll, or specific client projects. Plus, our platform connects seamlessly with tools like QuickBooks Online6 to simplify your bookkeeping.
- Limited access to credit: Bluevine offers a flexible line of credit of up to $250,000,7 providing the working capital you need to invest in growth. Once approved for a draw, funds are available instantly8 in your Bluevine Business Checking account, providing immediate support when you need it most.
Top features for virtual assistants
- Debit cards: Issue physical and virtual debit cards9 with custom spending limits to your team, giving you greater control over expenses while empowering your virtual assistants to make necessary business purchases.
- Accounts payable: Save time and reduce manual work by automating bill management and payments3 with a scalable platform that includes custom approval workflows and syncs with QuickBooks Online®.6
- Sub-accounts: Easily organize your finances for taxes, payroll, or specific projects by creating up to 20 dedicated sub-accounts,5 each with its own account number and automated transfer rules.
- Check deposits: Deposit checks anytime, anywhere using the mobile app, saving you a trip to the bank and giving you faster access to your funds.
- Accept payments: Accept multiple payment methods online and in person with Tap to Pay,10 ACH, wire, checks, and more—all managed from your Bluevine dashboard.
- Cash deposits: Deposit cash with your Bluevine debit card at 91,500+ locations nationwide.11
- Customer Satisfaction: With an A+ BBB rating and a 4.6-star “Excellent” rating on Trustpilot,12 customers value how Bluevine simplifies banking and supports the unique needs of small businesses.
Other options
Here are several additional small business banking providers commonly compared in this category.
Novo
Novo is a financial technology company that provides online business banking services through its partner bank, Middlesex Federal Savings. Its platform is centered on a business checking account that comes with digital tools for invoicing, budgeting, and bookkeeping. These financial management tools are available to a wide range of small businesses, offering virtual assistants a way to track expenses and manage cash flow.
Novo's platform is built around a single checking plan, which does not offer an APY (annual percentage yield). In contrast, Bluevine provides checking options that allow virtual assistants to earn interest on their balances. Bluevine also includes features designed for growing VA businesses, such as sub-accounts with dedicated debit cards for organizing funds, integrated accounts payable to streamline bill payments, and free checkbooks13 for flexible transactions.
Mercury
Mercury is a financial technology company providing business banking for tech-focused companies, including virtual assistants, through its partner banks, Choice Financial Group and Column N.A. The platform includes business checking and savings accounts, vendor payment tools, and team spending controls. While these features can help VAs manage basic transactions, the platform may not be a complete solution for businesses seeking to optimize their finances. Mercury's accounts do not earn interest, meaning virtual assistants miss an opportunity to grow their cash reserves. Additionally, its accounts payable and expense management tools are less integrated than some all-in-one platforms, potentially requiring VAs to rely on third-party software for more advanced financial workflows.
Mercury is often optimized for venture-backed tech startups, a focus that may not suit the typical virtual assistants. The platform does not offer APY on checking balances or provide checkbooks, and its high-yield Treasury account requires a minimum balance of $250,000. In contrast, Bluevine is built for small business owners, offering a high-yield APY on checking, checkbooks, and a more accessible Treasury account, empowering VAs to grow their capital more effectively.
Lili
Lili is a financial technology company that provides a digital platform combining business banking with integrated accounting, tax preparation, and credit-building tools, with banking services provided by Sunrise Banks, N.A. The platform is geared toward freelancers and solopreneurs, which can make it a suitable choice for individual virtual assistants managing basic financial tasks.
Lili's platform simplifies banking for solo virtual assistants with its tax and expense management features. For VA businesses focused on growth, Bluevine offers a higher APY, integrated bill pay, multiple sub-accounts, and access to business financing.14
Relay
Relay is a financial technology company that provides online business banking for small businesses through its partner, Thread Bank. Its platform is designed to help virtual assistants organize their finances by managing funds for different purposes. While Relay offers expanded FDIC insurance up to $3 million, its primary focus on cash organization means VAs looking for interest-bearing accounts or integrated financing options to support growth may need a more comprehensive solution.
Relay's platform helps virtual assistants manage client billing with built-in invoicing, though its APY is reserved for savings accounts. Bluevine also provides invoicing tools but allows VAs to earn a competitive APY on their primary checking balance, helping their working capital grow. For businesses needing more comprehensive financial tools, Bluevine also offers free checkbooks and access to a line of credit.
Brex
Brex is a financial technology company that provides a unified platform for business finance, partnering with banks like Column N.A. and Emigrant Bank for services such as FDIC insurance and treasury functions. While its platform consolidates corporate cards and expense management, its traditional focus on venture-backed startups may make it a less practical fit for many virtual assistant businesses. The emphasis on corporate spend management means VAs may miss out on key features like high-yield interest on checking balances, which are crucial for maximizing working capital in a small business.
Brex is designed for tech startups and larger companies that require complex spend management tools. Bluevine offers a powerful banking platform built to address the specific financial challenges and growth goals of a virtual assistant business.
North One
North One is a financial technology company that offers a mobile-first banking platform, with banking services provided through its partner, The Bancorp Bank. While its mobile-centric design may appeal to solo virtual assistants managing finances on the go, the platform could be limiting for growing VA businesses that need more robust desktop features for complex accounting and team-based financial management.
North One's "envelopes" feature offers a basic way for virtual assistants to organize funds. As a VA business grows, however, Bluevine provides more advanced tools. Bluevine’s sub-accounts offer greater control and functionality, alongside easy payment acceptance and accounts payable solutions built to scale.
How to choose a business bank account for virtual assistants
Selecting the right business bank account is a foundational decision for any virtual assistant. The best choice will not only safeguard your finances but also provide the tools to streamline operations and support your growth. By focusing on a few key areas, you can find a banking partner that aligns with your business model and financial goals.
Fee structures
For a virtual assistant business where every dollar counts, high transaction or monthly maintenance fees can significantly reduce profitability. Look for a banking solution with a transparent, low-cost fee structure to ensure more of your hard-earned revenue stays in your business. This is especially critical when managing fluctuating income streams.
Online features
As a remote-first business, your bank's digital capabilities are non-negotiable. Powerful online features like mobile check deposit, integrated invoicing, and automated bill pay save valuable time and reduce administrative burdens. A strong digital platform allows you to manage your finances efficiently from anywhere, keeping your focus on client work.
Integration capabilities
Seamless integration with accounting software is essential for maintaining accurate financial records and simplifying tax preparation. A bank account that connects effortlessly with tools like QuickBooks Online provides a clear, real-time view of your company's financial health. This connectivity helps you make informed business decisions and reduces the manual work of bookkeeping.
Why choose Bluevine
Bluevine offers a powerful, all-in-one digital platform that goes beyond basic banking to actively grow your virtual assistant business. Unlike many competitors, Bluevine combines high-yield interest on your checking balance with integrated tools for invoicing, bill pay, and team expense management—all with no monthly fees. Simplify your operations and fuel your growth with a financial partner built to empower modern entrepreneurs.
FAQs
Can I use a personal bank account for my virtual assistant business?
Using a personal account for business expenses can create significant bookkeeping challenges and obscure your company's true financial health. A dedicated business account is essential for simplifying tax preparation, protecting your personal assets, and presenting a professional image to clients. It provides the clear separation needed to effectively track profitability and manage cash flow.
What documents are typically required to open a business bank account?
While requirements vary between financial institutions, you will generally need personal identification along with your business formation documents. For sole proprietors, this often includes your Social Security number and any trade name registration. For LLCs or corporations, you will likely need to provide your Employer Identification Number (EIN) and articles of organization.
Do I need a business bank account if I'm a freelance virtual assistant?
Yes, even as a solopreneur, a business bank account is a key tool for success. It establishes a clear financial boundary that is vital for accurate expense tracking and tax compliance. A dedicated account also strengthens your professional credibility with clients and unlocks access to business-specific features that can help you manage payments and invoicing more efficiently.
answer
Disclaimers
This content is for educational purposes only and should not be construed as professional advice of any type, such as financial, legal, tax, or accounting advice. This content does not necessarily state or reflect the views of Bluevine or its partners. Please consult with an expert if you need specific advice for your business. For information about Bluevine products and services, please visit the Bluevine FAQ page.
- Bluevine is a financial technology company, not a bank. Bluevine deposits are FDIC-insured through Coastal Community Bank, Member FDIC, and our program banks.
- Premier and Plus plan customers automatically earn annual percentage yield ("APY") on their available balances. Standard plan customers will earn interest on their available balances if they meet an eligibility requirement as detailed in the Terms of Interest Accrual which is incorporated as a part of the Bluevine Business Checking Account Agreement.
- Payment fees depend on your selected account plan. Check payments sent from your Bluevine dashboard have a $1.50 fee per check. Plus and Premier plans come with a limited number of free check payments. The fee will apply for each additional check payment. Same-day ACH payments have a fee of up to $10, and must be submitted by 2:00pm ET to arrive same-day. Outgoing wires have a fee of up to $15.
- No monthly fee only applies to the Bluevine Business Checking account Standard plan.
- Each Sub-Account will have its own unique account number. You can create up to 20 Sub-Accounts per Business Checking Account.
- QuickBooks and QuickBooks Online are registered trademarks and service marks of Intuit Inc., displayed under license. Coastal Community Bank, Member FDIC is not affiliated with this product.
- Applications are subject to credit approval. Rates, credit lines, and terms may vary based on your creditworthiness and are subject to change. Eligibility for the lowest rates is available only to applicants with the strongest credit profiles. Factors include FICO score, time in business, monthly revenue, and payment history. Additional fees apply.
- Draw requests are subject to review and approval. Bluevine Line of Credit customers can access approved draws instantly only with their Bluevine Business Checking account. Approved draws being deposited to an external bank account will be available in as quickly as a few hours if you choose our bank wire option ($15). Or, choose our fee-free ACH transfer option which typically gets funds deposited the next business day, although it may take up to three.
- The Bluevine Business Debit Mastercard is issued by Coastal Community Bank, Member FDIC, pursuant to a license from Mastercard International Incorporated and may be used everywhere Mastercard is accepted. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.
- Invoices processed with standard ACH, cash, and other payment forms outside of Stripe are free. Payments processed through your linked Stripe account will incur a fee based on the payment type: credit card, debit card, and digital wallet payments have a 2.9% + $0.60 fee, while ACH direct debit payments have a 1% fee. In-person payments processed via Tap to Pay will incur a fee of 2.7% + $0.30.
- A $4.95 per transaction fee is applicable when depositing funds at Green Dot® locations. A fee of $1.00 plus 0.5% of your total deposit amount applies when depositing funds at Allpoint+ ATMs. Bluevine charges a $2.50 fee for ATM transactions outside of the MoneyPass® network. Additional third-party ATM fees may vary by ATM operator.
- Customer data as of January 2026.
- A balance is required in your Bluevine Business Checking account to order your free checkbooks. Customers receive one free checkbook per account lifetime with the Standard plan, two free checkbooks per year with Plus, and three free checkbooks per year with Premier. Additional checkbook orders start at $30.00, excluding tax and shipping costs. Pricing is subject to change.
- Applications are subject to credit approval. Rates, credit lines, and terms may vary based on your creditworthiness and are subject to change. Additional fees apply.
DISCLAIMER
This content is for educational purposes only and should not be construed as professional advice of any type, such as financial, legal, tax, or accounting advice. This content does not necessarily state or reflect the views of Bluevine or its partners. Please consult with an expert if you need specific advice for your business. For information about Bluevine products and services, please visit the Bluevine FAQ page.