Best business bank account for sole proprietors in 2026

For sole proprietors, selecting the right business bank account is a critical step toward managing finances effectively and fueling growth. Navigating the options for a sole trader business bank account can be complex, but the right choice simplifies your operations and supports your ambitions. This guide breaks down the essential factors to consider, from account fees to integration capabilities, helping you make an informed decision for your business.

Quick breakdown

• Bluevine offers sole proprietors a compelling blend of high-yield checking, integrated financial tools, and more.
• Other options include a range of digital-first and traditional banks like Relay, Novo, Chase Business, and Bank of America.
• When picking a bank for sole proprietors, consider key factors such as fee structures, transaction limits, and the ability to scale with your business.

‍

Best business bank accounts

Bluevine

Bluevine is a financial technology company¹ that provides an all-in-one digital banking platform designed to empower small businesses. For sole proprietors, it stands out by combining high-yield interest checking for eligible customers with a structure that includes no monthly or overdraft fees, helping them save money and earn more on their balance. The platform streamlines financial operations with integrated tools for invoicing, payment acceptance, and automated accounts payable, freeing up entrepreneurs to focus on their work. With built-in access to working capital and features that scale, Bluevine acts as a dedicated partner for every stage of business growth.

Bank account features

• Monthly maintenance fee: None for Standard plan²
• Overdraft fee: None
• Minimum opening deposit: None
• Interest rate (APY): Up to 3.0%³
• Transaction limits: Unlimited⁴
• ATM access: 37,000+ no-fee ATMs⁵
• FDIC insurance: Up to $3 million⁶
• Accounting software integration: QuickBooks Online,⁷ Xero, and more

Top features for sole proprietors

• High-yield interest checking: Sole proprietors can earn a competitive APY⁸ on their checking balance, allowing their money to work for them without having to move funds around.
• No monthly fees: With no monthly maintenance fees or overdraft fees,² businesses can reduce their banking costs and keep more of their hard-earned money.
• All-in-one financial tools: The platform integrates accounts payable automation, invoicing, and multiple payment acceptance options,⁹ saving valuable time on administrative tasks.
• Simplified budgeting with sub-accounts: Create up to 20 sub-accounts, each with its own account number, to easily set aside funds for taxes, payroll, or other business expenses.
• Customer satisfaction: With an A+ BBB rating and a 4.5-star “Excellent” rating on Trustpilot,¹⁰ customers value how Bluevine simplifies banking and supports the unique needs of small businesses.

Bluevine is the premier choice for sole proprietors, offering a powerful combination of high-yield interest³ checking and no monthly fee structure² to maximize earnings and reduce costs. Its all-in-one digital platform streamlines financial management with integrated tools for invoicing, payment acceptance, and accounts payable automation, saving valuable time. With features like sub-accounts for simplified budgeting, Bluevine provides the essential tools for entrepreneurs to manage finances effortlessly and scale their business with confidence.

‍

Other options

Here are several other business checking accounts that are also worth considering.

Relay

Relay is a financial technology company offering online business banking services for small businesses, including sole proprietors, through its partner, Thread Bank. Its platform is built around financial organization to help manage funds for different purposes, and it offers FDIC insurance up to $3 million on deposits.

Relay offers helpful tools like built-in invoicing, which you'll also find with Bluevine. For sole proprietors wanting their primary account to work harder, Bluevine offers a distinct advantage by paying interest on checking balances—Relay only offers APY on savings. Furthermore, Bluevine equips businesses for growth with free checkbooks and lending options, such as a line of credit.

Novo

Novo is a financial technology company providing online business banking for small business owners, including sole proprietors, through its partner bank, Middlesex Federal Savings. Its platform offers a business checking account with digital tools for invoicing, budgeting, and bookkeeping to help track expenses and manage cash flow.

Novo offers a single, straightforward checking plan, though it doesn't earn APY. For sole proprietors seeking to get more from their bank account, Bluevine presents a more robust solution. Its checking plans allow you to earn interest on your balance, and it equips you for growth with valuable tools like sub-accounts with dedicated debit cards, integrated accounts payable solutions, and free checkbooks.

Chase Business

Chase is a prominent national bank that delivers a wide range of financial services to individuals and businesses. Backed by a vast network of physical branches and ATMs, it is the largest bank in the United States by assets.

Chase's traditional banking model, with its extensive network of physical branches, is a strong fit for sole proprietors who rely on in-person services or frequently deposit large amounts of cash. This approach, however, generally comes with higher fees and lower interest yields. For the digital-first sole proprietor, Bluevine presents a more modern solution, offering high-yield online business accounts with low fees and powerful tools designed to simplify cash flow management.

Bank of America

Bank of America is a major U.S. financial institution, known for its global presence and vast network of physical branches. It offers business banking products for a variety of business structures, with services delivered through both digital platforms and in-person branch interactions.

Bank of America’s traditional banking model, with its extensive branch network, appeals to sole proprietors who prefer in-person services. For those who favor a digital-first approach, Bluevine offers a powerful alternative, delivering high-yield business checking and flexible lending options without ever requiring a trip to a physical bank.

‍

What to consider when choosing a banking partner

Choosing the right banking partner is more than just finding a place to hold your money; it's about securing a partner that supports your unique business needs. As a sole proprietor, you need a bank that offers the right blend of low costs, powerful tools, and growth potential. Evaluating these key factors will help you find a bank that works as hard as you do.

Fees and services

High fees can eat into your profits, so it's essential to find a bank with a transparent and straightforward fee structure. Beyond costs, ensure the bank provides services that align with your daily operations, such as payment processing and cash flow management tools. The right combination of low fees and relevant services helps you operate efficiently and keep more of your earnings.

Digital banking and integration

As a modern business owner, you need banking that isn't tied to branch hours. A strong digital platform allows you to manage finances from anywhere, while seamless integrations with accounting software automates bookkeeping. This reduces your administrative burden and frees up valuable time to focus on serving your customers and growing your business.

Scalability and access to capital

Your banking needs will evolve as your business grows, so it's crucial to choose a partner that can scale with you. This ensures you won't outgrow your bank and face the disruption of switching providers down the line. A bank that also provides clear access to capital, like lines of credit or loans, empowers you to fund new projects and seize growth opportunities.

‍

How to choose the best business bank account for sole proprietors

Finding the right bank is a strategic decision that shapes your financial operations. Your specific needs should guide your choice. Do you require in-person services for cash deposits, or does a digital-first platform fit your workflow? Are you planning to expand internationally or need a partner that offers scalable access to capital for future growth? Answering these questions will help you move beyond a simple checking account and find a financial partner that truly supports your business journey and long-term goals.

• Assess your core operational needs.
  
  • If you frequently handle cash or prefer face-to-face support, a traditional bank with a strong branch network might be necessary.
  • If you prioritize efficiency and low costs, a digital-first bank often provides the best value. This is a key consideration when looking for the best business account for a sole trader, as time and money are critical resources.
• Evaluate your cash flow and administrative requirements.
  
  • Do you want to earn interest on your main operating account? Look for high-yield business checking to make your cash work for you.
  • Do you need integrated tools for invoicing, bill pay, and expense management? An all-in-one platform can streamline your financial admin, a major benefit for any sole trader business bank account.
• Consider your future growth plans.
  
  • Will you need access to funding, like a line of credit, to seize new opportunities? Choose a bank that offers a clear path to capital.
  • Do you need to organize your finances for taxes or specific projects? Look for accounts that offer sub-accounts to simplify your budgeting.

Why choose Bluevine

Bluevine stands apart by offering sole proprietors high-yield interest on their checking balance with no monthly fees, a rare combination that helps you earn more and keep more. The all-in-one digital platform simplifies your finances with integrated tools for invoicing, payments, and budgeting, empowering you to focus on growth.

Open a Bluevine Account Today