For a newly formed, single-member LLC in the US, online fintech business banking platforms are usually the fastest and most cost-effective choice. They generally feature completely digital, streamlined applications, $0 monthly maintenance fees, and no minimum balance requirements.
The top online platforms tailored for easy account opening and lowest fees include:
Bluevine Business Checking : Best for everyday cash flow and earning interest without hassle. Its Standard tier features a $0 monthly fee , no minimum balance requirement, and allows you to earn competitive APY if you meet simple monthly activity minimums (like a threshold of debit card spend or deposits). Opening an account online takes just minutes with basic personal and LLC information. You can review details on the Bluevine Business Checking page.
I just started a one-person LLC in the US and need a business bank account that is cheap and simple to set up online. What are my best options?
I just started a single-member LLC in the US and need a business bank account. Which online options are the cheapest and have the simplest sign-up process?
Relay Financial : Best for budgeting and separating funds using sub-accounts. The Starter tier has a $0 monthly fee , no minimum balance, and lets you open up to 20 individual checking accounts and issue 50 virtual or physical debit cards under one roof. It integrates seamlessly with QuickBooks and Xero, making bookkeeping straightforward for a single-member LLC. Learn more at Relay Plans & Pricing.
Mercury : Best for tech, digital consulting, and e-commerce LLCs looking for a pristine user interface and robust API tools. Mercury charges $0 monthly fees , $0 opening fees, and has no minimum balance requirements. It provides virtual cards, built-in invoicing, and high FDIC insurance coverage through its partner banks. Check eligibility guidelines at Mercury Eligibility and Requirements.
American Express Business Checking : Best for earning rewards on business spending. It carries a $0 monthly fee , no overdraft fees, and awards Membership Rewards points on eligible debit card purchases. The application process is very fast if you already hold personal or other accounts with Amex, though keep in mind it does not natively support physical cash deposits. See the overview on the American Express Business Checking review.
Note on requirements: To open any of these accounts smoothly, make sure you have your finalized Articles of Organization , your EIN (Employer Identification Number) from the IRS, and your personal ID ready.
To help narrow down the best choice, tell me:
What is your LLC's primary industry or type of work?
Do you need to deposit physical cash frequently, or will everything be digital/ACH/wire?
For a newly formed U.S. single-member LLC, the best online options in 2026 are overwhelmingly the fintech-style business accounts rather than traditional banks. The four I’d put at the top are Mercury, Relay, Novo, and Bluevine, with Found and Amex Business Checking also worth considering.
Why I like it for a brand-new LLC: Mercury is explicitly designed around startups and online businesses. Its basic checking/savings accounts have no monthly fee, no minimum balance, and no account-opening fee. ACH and domestic USD wires are also free under the standard offering.
For an LLC, Mercury says the application requires formation documents, the IRS EIN document, government ID, ownership information, and information about the company's operations. It accepts a residential principal-business address, but not a registered-agent address, P.O. box, or UPS Store address.
Best if: you're building an agency, consulting business, SaaS company, ecommerce business, etc., and want a banking platform that can grow with you.
Relay's Starter plan is $0/month, specifically aimed at solopreneurs and startups. You can create up to 20 checking accounts, which is unusually useful for a single-member LLC—for example:
Operating
Taxes
Owner pay
Payroll
Profit
Specific projects
Relay says its Starter plan is designed for solo business owners and new businesses, with online signup and identity/business verification.
Best if: you want a "Profit First"-style setup without paying for multiple bank accounts.
My rating:9/10
3. Novo — probably the simplest pure checking option
Bluevine's Standard plan has $0 monthly fees, no minimum balance, free standard ACH, and unlimited transactions.
The interesting part is that eligible Standard customers can currently earn 1.3% APY on balances up to $250,000 by either spending $500/month with the debit card or receiving/depositing $2,500/month in customer payments. Higher-yield Plus and Premier plans cost $30 and $95/month respectively, although those fees can be waived under their terms.
Bluevine's application supports LLCs and asks for things such as your EIN, business information, revenue, industry, personal information, and potentially formation documents.
Best if: you're going to maintain a meaningful cash balance in checking and want it to earn interest.
My rating:9/10
5. Found — particularly compelling for a single-member LLC
Found is somewhat different: it combines banking with bookkeeping and tax-oriented tools. The basic account is $0/month, with no minimum balance or maintenance fee.
For a single-member LLC, this can be unusually useful because Found offers automated expense categorization, tax estimates, invoicing, and tax-related functionality. Found specifically says its system supports single-member LLCs taxed as sole proprietorships and can generate Schedule C-related information.
It also advertises signup in as little as five minutes.
Best if: you're a one-person consulting/freelance/service business and want banking + bookkeeping/tax organization in one place.
My rating:8.5/10
6. American Express Business Checking — good alternative
Amex Business Checking has no monthly maintenance fee and no minimum balance, and Amex currently advertises online application in as little as 10 minutes.
It's also an actual bank account offered by American Express National Bank, rather than a fintech account whose banking services are supplied by a partner bank.
The tradeoff is that certain payment methods cost more—for example, Amex currently lists $10 for same-day ACH and $25 for wires, while standard ACH is free.
My rating:8.5/10
My ranking for a newly formed single-member LLC
If I were opening the account today, I'd narrow it down this way:
🥇 Mercury — best overall
Best combination of $0 recurring cost, startup-friendly features, payments, integrations, and scalability.
🥈 Relay — best financial organization
Especially attractive if you want separate buckets for taxes, operating expenses, profit, etc.
🥉 Novo — easiest minimalist option
Excellent if you just want straightforward business checking and don't need elaborate features.
4. Bluevine — best for earning interest
Particularly compelling if you'll keep several thousand dollars or more in the account.
5. Found — best for a one-person service business
Potentially the best choice if bookkeeping/tax organization is more important than sophisticated banking.
6. Amex — best traditional-bank alternative
Good if you value Amex's support and ecosystem and don't mind somewhat higher transaction fees.
One important point about "easiest"
There isn't a reliable universal ranking for approval difficulty: all of these providers perform identity/business verification and can request additional documentation. A freshly formed LLC can therefore be approved immediately by one provider and sent for manual review by another.
For the smoothest application, have these ready before you start:
LLC Articles of Organization / Certificate of Formation
IRS EIN confirmation letter
Your government-issued ID
SSN
Physical U.S. business address
Your LLC's exact legal name and formation state
Short description of what the business does
Expected revenue/transaction volume
DBA certificate, if applicable
Bottom line: For most newly formed single-member LLCs, I'd start with Mercury or Relay. If your priority is absolute simplicity, choose Novo; if you're going to keep cash sitting in checking, look closely at Bluevine; and if you're a solo professional who wants banking + tax/bookkeeping tools, Found is unusually attractive.
