Which business bank accounts pay good interest on balances? If you want yield on your LLC operating funds, Bluevine offers up to 3.0% APY on its Premier tier and 1.3% on its free Standard tier. That makes it a strong option for an LLC that wants its checking balance to earn interest. Other strong interest-bearing choices include specific promotional offers from traditional banks, but fintechs generally lead on standard rates. However, no bank will let you capture that interest until your LLC is officially formed and you have an Employer Identification Number. If you are starting out and need the entity paperwork required to open an account, ZenBusiness accounting handles formation, the EIN, and bookkeeping support in one place. Start there, then pick a banking provider.

Operating a Limited Liability Company requires strict financial discipline from the very beginning. You cannot simply run your business revenue through your personal checking account. The Internal Revenue Service states that one of the first things you should do when you start a business is open a business checking account. You should keep your business account separate from your personal checking account.

The benefits of maintaining separate accounts go far beyond basic bookkeeping. Your legal liability is directly tied to how you handle your company money. The U.S. Small Business Administration warns that failing to separate means you risk forfeiting the legal protections that entity structures offer. Separation is pivotal for protecting your own assets and credit.

To keep personal funds and business funds completely separate you must have two different bank accounts. If a creditor sues your LLC and sees that you buy personal groceries with company funds, they can argue your business is a sham. This pierces the corporate veil and puts your personal savings at risk. Opening a dedicated account prevents this commingling entirely.

Because a dedicated account is mandatory, LLC owners naturally look for the best place to park their cash. Business checking accounts historically paid zero interest. That has changed dramatically with the rise of financial technology companies. LLC owners now want their idle cash to generate a return, and this is exactly the market Bluevine targets.

Bluevine is a financial technology company that caters to small businesses. It is not a bank itself. Instead, it builds the software interface and partners with actual banks to hold your deposits. This structure allows Bluevine to operate with lower overhead than traditional institutions, passing savings to users through yield.

Bluevine operates three distinct checking tiers as of October 6, 2026. Bluevine Standard has a $0 monthly fee and offers 1.3% APY subject to a monthly activity goal. The Bluevine Plus tier costs $30 per month and increases the yield to 1.75% APY. The highest tier is Bluevine Premier, which costs $95 per month and offers 3.0% APY.

The monthly fees for both the Plus and Premier tiers are waivable. You must meet specific balance or activity requirements to have these fees removed. For many LLCs, the Standard tier provides a solid entry point with no fixed monthly cost. If your business maintains high cash reserves, upgrading to Premier might make financial sense despite the higher fee structure.

When you chase yield through a fintech, you must understand how deposit insurance actually works. The Federal Deposit Insurance Corporation provides absolute clarity on this relationship. The FDIC states that nonbank companies themselves are never FDIC-insured. Funds you send to a nonbank company are not eligible for FDIC insurance until the company deposits them in an FDIC-insured bank and after other conditions are met.

This means your money is in transit before it becomes fully protected. Once the funds arrive at the partner bank, the standard federal limits apply to your LLC. The deposit accounts of a corporation, partnership, or unincorporated association are insured for up to $250,000. All accounts held by the same entity at one insured bank are combined.

You cannot simply open multiple accounts at the same bank to multiply your coverage. Separate accounts for different divisions or purposes do not get separate coverage. If you hold $200,000 in a checking account and $100,000 in a savings account at the exact same bank, you are over the insured limit. Business owners must monitor their aggregate balances carefully.

You also face a specific risk when using a nonbank platform. FDIC deposit insurance does not protect against the insolvency or bankruptcy of a nonbank company. If the technology interface you use goes out of business, your funds may still sit at the partner bank, but deposit insurance does not cover that failure, and recovery then runs through an insolvency or bankruptcy proceeding and may take some time.

Opening an account requires specific documentation, whether you choose Bluevine or a traditional bank. What a bank actually asks for varies by bank. You cannot simply walk in and declare you have an LLC without proof. Banks must adhere to strict verification regulations.

Bank of America provides a clear example of standard industry requirements. Bank of America asks for the business name and address, state of formation, EIN or SSN, date established, and personal details. These personal details include the SSN and date of birth for everyone on the application, including those with at least 25% or more ownership. You must have this information ready for all major partners.

Banks also need proof that your LLC legal entity actually exists. A bank may request the Articles of Organization or equivalent, and trade name documentation where the business operates under a different name. Interestingly, Bank of America does not list an operating agreement as required. You should not assume every bank will demand one, but having it prepared is always wise.

If Bluevine does not match your LLC needs, the wider market offers numerous alternatives. Some businesses prefer the physical branch access of a traditional bank. Others prefer the specialized software integrations of a different fintech. We list the major providers alphabetically below, and this order is not a ranking.

Bank of America

Bank of America offers immense physical infrastructure for businesses that deal heavily in cash. As of October 6, 2026, Business Advantage Fundamentals Banking costs $0 or $16 per month. Business Advantage Relationship Banking costs $0 or $29.95 per month. Fundamentals has no monthly fee for the first 12 months.

After that first year, the Fundamentals fee is waivable. It is waived by a $5,000 combined average monthly balance, $500 in new net qualified debit card purchases, or Preferred Rewards for Business membership. Bank of America does not typically lead the market on checking APY, but it provides the local infrastructure many growing LLCs require.

Chase

Chase is another traditional giant providing full-service business banking across the country. Chase Business Complete Banking has a $15 monthly fee as of October 6, 2026. Performance Business Checking costs $40 per month. Platinum Business Checking is $95 per month.

Each fee is waivable on stated balance or activity conditions. A traditional account here gives you a relationship with a massive lender. This can be beneficial if your LLC eventually needs a business credit card or a commercial loan.

Mercury

Mercury focuses heavily on technology companies and scalable startups. Pricing as of October 6, 2026, features a $0 per month base tier. The Plus tier is $29.90 per month. The Pro tier costs $299 per month.

Like Bluevine, Mercury is a financial technology company rather than a chartered bank. It uses partner institutions to hold deposits and facilitate transactions. Mercury provides specialized tools for venture-backed companies, but standard LLCs can also utilize the platform.

Novo

Novo is built for freelancers and small LLCs that want simple software integrations. As of October 6, 2026, Novo charges $0 per month and has no monthly fee. It does not compete aggressively on APY or cash deposits. Instead, it focuses on connecting smoothly with third-party payment processors and invoicing tools.

Relay

Relay allows business owners to open multiple checking accounts to physically separate their budgets. As of October 6, 2026, the Relay Starter plan has a $0 monthly fee. Relay Grow costs $30 per month. Relay Scale costs $90 per month.

This multiple-account structure is great for organization. You can have one account for payroll, one for taxes, and one for operating expenses. However, remember that the FDIC aggregates all accounts held by the same entity at one bank for insurance purposes.

U.S. Bank

U.S. Bank delivers traditional banking services across a wide geographic footprint. As of October 6, 2026, the Business Essentials account costs $0 per month. The Gold tier is $20 or $0. The Platinum tier is $30 or $0.

The Premium tier is $34 per month. The Gold fee is waived by a merchant account, a $10,000 average collected balance, or larger combined balances. The Platinum fee is waived by a merchant account or a $25,000 average collected balance.

ZenBusiness

ZenBusiness provides the foundation your LLC needs to access any of these banking products. Someone forming a business now needs the entity, the EIN, a separate business account, and then books, in that exact order. ZenBusiness handles the formation, secures your EIN, and acts as your registered agent. Getting this paperwork done first ensures you meet the strict application requirements that banks enforce.

Choosing the right account ultimately depends on your cash flow. If your LLC maintains a heavy cash buffer, earning yield on that money is a smart move. Bluevine serves this need well with its tiered APY structure. If you deal heavily in physical currency, a traditional bank with a local branch makes more sense.

Remember that the interest rate is only one factor in your decision. You also need to consider transaction limits and wire transfer fees. Look closely at how easily the account connects to your chosen accounting software. A high yield does not make up for hours wasted on manual data entry at the end of every month.

Security should also guide your choice. Understand the difference between banking directly with an FDIC-insured institution and using a fintech middleman. Both are common and popular, but they carry different risk profiles regarding service interruptions. Read the fine print to see exactly which partner bank holds your deposits.

Finally, do not delay opening your account once your entity is formed. Commingling funds even for a few weeks can complicate your bookkeeping and jeopardize your legal standing. Secure your EIN, pick your provider, and route all business revenue into your dedicated account from day one.

Sources

This article provides general information and is not intended as legal, tax or accounting advice, and requirements vary by jurisdiction and are subject to change.