Comparisons
Best business bank for freelancers in 2026
Five accounts that let you keep more of what you earn, without branch visits or paperwork
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Last updated October 2026
Freelancing pays well until your bank starts nibbling at the edges. Wire fees, monthly maintenance charges, minimum balance requirements, and savings accounts that yield almost nothing can quietly erode the margins you worked hard to build. The irony is that freelancers often have simpler banking needs than a ten-person company, yet many end up with accounts designed for much larger operations, paying for features they never touch.
The right business bank for a freelancer does three things. It charges little or nothing for the basics (ACH, wires, debit cards). It pays a reasonable yield on idle cash so your tax reserves and emergency fund are not sitting at zero per cent. And it gets out of your way. You want to open the account in ten minutes, connect it to your invoicing or accounting software, and move on with your day.
We looked at five accounts that fit that profile. Two are fintechs built for startups and small businesses. Two are online-first banks with tiered plans. One is a legacy giant with a branch on every other corner. Each has a clear strength, and each has trade-offs worth knowing before you hand over your EIN.
If you are also looking for a place to keep client files, contracts, and project notes organised alongside your finances, Fabric handles that side of freelancing. It brings files, notes, bookmarks, and research into one searchable workspace with a built-in AI assistant, so you spend less time hunting for documents and more time on billable work.
How we evaluated
We weighted what matters to freelancers specifically, not small businesses in general. A ten-person agency cares about team permissions and approval workflows. A freelancer cares about monthly cost, yield on idle cash, the speed of getting paid, and whether the account integrates with QuickBooks or Xero without a workaround.
The criteria, in order of weight:
Monthly cost and fee structure. Freelance income is lumpy. A bank that charges $15 per month when your balance dips below $2,000 is penalising you for the exact cash-flow pattern that freelancing creates. We favoured accounts with no monthly fee or easily waivable ones.
Interest on deposits. Freelancers park money for quarterly tax payments, annual insurance premiums, and dry-month reserves. That cash should earn something. We compared APY rates, minimum balance thresholds, and whether the yield applies to checking, savings, or both.
Transaction fees. Wire costs, ACH fees, and charges for receiving payments matter disproportionately when every transaction is between you and a single client. One $25 wire fee on a $500 invoice is a five per cent haircut.
Onboarding speed. Freelancers do not have a CFO to spend two hours at a branch filling out paperwork. We prioritised accounts you can open online in under fifteen minutes.
Integrations. Connecting to QuickBooks, Xero, Stripe, or PayPal without manual exports saves hours each month at tax time. We noted which platforms offer native integrations and which require CSV workarounds.
FDIC coverage. The standard $250,000 per depositor covers most freelancers, but higher coverage through sweep networks is a bonus if you are building a substantial reserve.
Cash deposit capability. Most freelancers operate entirely digitally, but those who accept cheques or occasional cash need to know their options.
Mercury
What it is
Mercury is a financial technology platform that provides business banking through its partner banks, Choice Financial Group and Column N.A., both FDIC members. It launched in 2019 with a focus on startups and has since expanded to serve freelancers, e-commerce sellers, and established small businesses. In late 2025, Mercury applied for its own bank charter, a move that would give it direct control over banking operations if approved.
The platform runs entirely online. There are no branches, no in-person appointments, and no paper applications. You sign up, verify your identity, and have a working business account within about ten minutes. For freelancers who want to separate personal and business finances without the rigmarole of a traditional bank visit, Mercury removes most of the friction.
What sets Mercury apart from many fintech competitors is the breadth of what is included at no cost. Domestic wires, ACH transfers, real-time payments, basic invoicing, and USD international wires are all free on the standard plan. The IO corporate card ships with no personal guarantee and no separate application, offering 1.5% cashback on all spending.
Key features
Personal banking at 3.50% APY. Mercury now offers personal banking accounts alongside business accounts. The personal account earns 3.50% APY, which makes it a strong place to park freelance earnings that you have moved into personal savings. Having both accounts under one roof simplifies transfers and gives you a unified dashboard for business and personal finances.
Treasury yields up to 4.00% APY. For business balances above $250,000, Mercury Treasury offers yields managed by firms including Morgan Stanley and State Street. Same-day withdrawals are available, so your money is not locked up. Most freelancers will not hit the $250,000 threshold on the business side, but the personal banking rate at 3.50% is accessible from dollar one.
Free domestic and international wires. This is a notably unusual feature. Most banks and fintechs charge between $15 and $50 per wire. If you invoice clients who pay by wire, or if you pay contractors or vendors internationally, Mercury eliminates a cost that adds up quickly.
FDIC coverage up to $5 million. Through its partner banks and their sweep networks, Mercury provides deposit protection well above the standard $250,000. This matters more for funded startups than for most freelancers, but it is a safety net worth having if your reserves grow.
Built-in invoicing and Bill Pay. Send invoices, accept payments by ACH, wire, or cheque, and pay your own bills through the platform. The invoicing tools are basic compared to dedicated invoicing software, but they handle straightforward freelance billing without requiring a separate subscription.
Integrations with QuickBooks and Xero. Native connections handle bank feed imports and categorisation, reducing the manual bookkeeping that eats into billable hours. NetSuite integration is available on the paid Pro plan.
Mercury Books. An AI-powered accounting tool built into the dashboard, priced at $35 per month but waived through the end of 2026. For early-stage freelancers who do not yet need a full accounting suite, this could replace QuickBooks entirely during the introductory period.
Pricing
Mercury operates on a freemium model. The core business banking product, including checking, savings, domestic and international USD wires, ACH, debit and credit cards, basic invoicing, and Bill Pay, is free. No monthly fee, no minimum balance, no overdraft charges.
Mercury Plus costs $29.90 per month and adds recurring invoices, unlimited 1099 filings, and ACH debit invoicing at $1 per transaction. Mercury Pro costs $299 per month and is aimed at larger companies needing dedicated relationship managers and NetSuite integration.
For most freelancers, the free tier covers everything. The Plus plan becomes relevant when your invoicing volume grows or you need to file 1099s for subcontractors.
Non-USD international wires carry a 1% currency conversion fee. Non-USD card transactions incur an international transaction fee. Premium processing on USD international wires (the OUR option) costs a flat $15.
Who it suits best
Mercury is the strongest all-round pick for freelancers who operate digitally, want zero fees on the basics, and value a clean, modern dashboard. The personal banking account at 3.50% APY gives freelancers a high-yield place to move earnings without opening a separate savings account elsewhere. If you pay or get paid by wire with any regularity, the free wires alone justify the account. The main trade-off is the absence of physical branches and cash deposit options. If your freelance work involves cash, Mercury is not a fit.
Relay
What it is
Relay is an online banking platform built for small businesses and freelancers who want granular control over their cash flow. Its signature feature is the ability to create up to 20 separate checking accounts on a single plan, each with its own account number. This is designed for Profit First-style budgeting, where you allocate revenue into distinct buckets for taxes, operating expenses, owner pay, and profit.
Banking services are provided through Thread Bank, an FDIC member. Relay offers FDIC coverage up to $3 million through its Insured Deposit Program. The platform runs entirely online with no physical branches, and customer support is available by phone Monday through Friday, 9am to 8pm EST, a step up from the email-only support many fintechs offer.
Key features
Up to 20 checking accounts. The standout feature for freelancers who budget by category. Create separate accounts for tax reserves, operating expenses, emergency savings, and profit. Each account has its own account number, which makes it easy to route client payments directly into the right bucket.
Tiered savings APY. Savings accounts earn 1.19% on the free Starter plan, 1.87% on Grow, and 3.21% on Scale. The rates are not the highest available, but they apply without a $250,000 minimum balance, which makes them accessible to freelancers at every revenue level.
Visa debit and credit cards. Relay issues both debit and credit cards, giving freelancers flexibility in how they pay for business expenses.
Phone support. Relay offers live phone support during business hours, which is a meaningful advantage for freelancers who do not want to wait 24 hours for an email response when a payment issue arises.
Integrations. Native connections to QuickBooks, Xero, and Gusto for payroll and accounting. These cover the most common tools freelancers use for bookkeeping and tax preparation.
Automatic transfers. Set up rules to move a percentage of each deposit into designated accounts. When a client payment arrives, Relay can automatically route 30% to your tax account, 10% to profit, and leave the rest in operating expenses.
Pricing
Relay operates on a three-tier model:
Starter (free). Includes up to 20 checking accounts, 2 savings accounts (1.19% APY), 50 debit cards, free ACH transfers, and basic integrations. Wire transfers cost $8 each.
Grow ($30 per month). Everything in Starter, plus 2 savings accounts at 1.87% APY, credit cards, automatic transfer rules, reduced wire fees at $5, and priority support.
Scale ($90 per month, discounted from $120). Everything in Grow, plus 3.21% APY on savings, 2 credit cards, and lowest wire fees at $5. This plan is designed for businesses with higher cash reserves that want to maximise yield without moving to a separate treasury product.
All plans include free ACH transfers. There are no monthly minimum balance requirements and no overdraft fees.
Who it suits best
Relay is the best pick for freelancers who follow Profit First budgeting or any envelope-style system for managing cash flow. The ability to create 20 separate checking accounts with distinct account numbers is a genuine differentiator that no other bank on this list matches. It is also a good fit for freelancers who value phone support and want a human on the other end when something goes wrong.
The trade-offs are worth noting. Savings rates, while accessible at any balance, are lower than what Mercury offers on the personal banking side. Wire fees apply on all plans. And there have been reports of sudden account freezes connected to Thread Bank's regulatory situation, which is a risk factor worth researching before committing your primary operating account.
Novo
What it is
Novo is a single-tier online business checking account designed for freelancers, sole proprietors, and small businesses. It positions itself as the simplest option in the fintech banking space: one account type, no monthly fee, and a focus on integrations with the tools freelancers already use. Banking services are provided through Middlesex Federal Savings, F.A., an FDIC member, with standard coverage up to $250,000.
The account takes about ten minutes to open online. Novo does not offer physical branches, but it does refund ATM fees up to $7 per month, which partially offsets the lack of its own ATM network.
Key features
Zero monthly fees with no catches. Novo's checking account has no monthly service charge, no minimum balance after the initial $50 to open, and no overdraft protection fees (though NSF fees of $27 apply if a transaction bounces). The fee structure is refreshingly simple, with no tiered plans or hidden charges.
Free ACH and incoming wires. Standard ACH transfers in and out are free. Incoming domestic and international wires carry no Novo-side fee. Outgoing domestic wires cost up to $45 and are subject to eligibility, which is a notable limitation for freelancers who need to send wires regularly.
40+ integrations. Novo connects to QuickBooks, Xero, Stripe, Shopify, Square, PayPal, Wise, and dozens of other business tools. For freelancers who use Stripe to collect payments or Wise to handle international transfers, these integrations reduce the manual work of reconciling transactions.
Novo Invoices. Built-in invoicing is included at no extra charge for ACH and mailed cheque payments. Card collection is available at processor rates. This gives freelancers a basic invoicing tool without needing a separate subscription.
Reserves. Create up to 20 sub-buckets within your account to earmark funds for taxes, expenses, and savings goals. These are organisational tools rather than separate accounts with their own account numbers (as Relay offers), but they serve a similar budgeting purpose.
ATM fee refunds. Novo rebates up to $7 per month in third-party ATM surcharges, giving you some cash access even without a branded ATM network.
Virtual and physical debit cards. Instant virtual cards that can be frozen and unfrozen, plus physical cards with EMV chip security.
Pricing
Novo operates a single-tier model. The checking account is free. There are no paid plans, no premium tiers, and no monthly fees.
The fee schedule is straightforward: $0 for ACH in and out, $0 for incoming wires, up to $45 for outgoing domestic wires, 1.5% for express ACH, and up to 2% for express cheque deposits. NSF and uncollected-funds fees are $27 each. An inactivity fee applies after 18 months of no activity, though the exact amount is not published on the fee schedule.
Novo does not pay interest on checking balances or Reserves. Your money earns 0% APY. This is the account's most significant limitation for freelancers who keep substantial reserves.
Cash deposits are not accepted directly. The suggested workaround is purchasing a money order and depositing it via mobile cheque deposit, which is cumbersome.
Who it suits best
Novo is the best choice for freelancers who want the simplest possible business bank account with no fees and strong integrations. If you use Stripe, PayPal, or Shopify to collect payments and QuickBooks or Xero to manage your books, Novo connects to all of them natively. The 20 Reserves buckets provide basic budgeting without the complexity of multiple accounts.
The account is less suited to freelancers who want to earn interest on idle cash (the 0% APY is a real drawback), who need to send outgoing wires frequently (at up to $45 each), or who handle physical cash. Novo works best as a straightforward operating account for freelancers whose financial needs are simple and whose income arrives digitally.
Bluevine
What it is
Bluevine is an online business banking platform that combines checking, lending, and payment tools under one roof. Unlike Novo's single-tier approach, Bluevine offers three plans (Standard, Plus, and Premier) with escalating features and APY rates. Banking services are provided through Coastal Community Bank, an FDIC member, with coverage up to $3 million through its Insured Cash Sweep programme.
Bluevine has earned consistently strong reviews for its combination of fee-free banking and competitive interest rates. For freelancers who want their checking account to earn meaningful yield without moving money to a separate savings product, Bluevine offers one of the more compelling options.
Key features
Interest-bearing checking across all tiers. Even the free Standard plan earns 1.30% APY on balances up to $250,000, provided you meet qualifying activity (roughly $500 per month in card spending or $2,500 in customer payments). This is unusual: most free business checking accounts pay nothing.
Tiered APY up to 3.0%. The Plus plan earns 1.75% APY, and the Premier plan earns up to 3.0% APY. These rates apply to checking balances, not a separate savings account, which means your operating funds are earning yield while you use them.
Sub-accounts with separate account numbers. Create multiple accounts within your Bluevine dashboard, each with its own account number. This supports Profit First-style budgeting similar to Relay's offering, though the number of sub-accounts varies by plan.
Invoicing and bill pay. Built-in invoicing with payment links, estimates, and recurring billing. Bill pay with approval queues handles vendor payments. These tools are more fully featured than what Novo or Mercury offer on their free tiers.
Up to 50 debit cards. Physical and virtual debit cards with spend and ATM controls. Access to 37,000+ MoneyPass ATMs with no surcharge.
FDIC coverage up to $3 million. Through the Insured Cash Sweep programme across Coastal Community Bank and partner banks. This is well above the standard $250,000 and sufficient for all but the most well-capitalised freelancers.
QuickBooks and Xero integration. Two-way sync with QuickBooks Online and a promotional free Xero subscription on some plans.
Lending products. Lines of credit up to $250,000, term loans up to $500,000, and SBA 7(a) loans up to $350,000. These are credit products subject to approval, but having them available within the same platform you bank with reduces friction if you need to finance a large project or bridge a cash-flow gap.
Pricing
Standard (free). No monthly fee, no minimum balance. 1.30% APY on checking balances up to $250,000 with qualifying activity. No excess transaction or overdraft fees. Cash deposits at Green Dot locations for $4.95 per deposit. Outgoing wires at $15.
Plus ($30 per month). 1.75% APY on checking balances up to $250,000. Fee waivable with a $20,000 average daily balance and $2,000 per month in card spending. Additional sub-accounts and expanded features.
Premier ($95 per month). Up to 3.0% APY on checking balances. Fee waivable with a $100,000 average daily balance and $5,000 per month in card spending. Priority support, expanded sub-accounts, and full feature access.
Cash deposits through Green Dot retail locations cost $4.95 per deposit, with a $7,500 per 30-day limit. This is not free, but it is an option that purely digital banks like Mercury and Novo cannot offer at all.
Who it suits best
Bluevine is the best choice for freelancers who want their checking account to earn interest without maintaining a separate savings product or meeting a high minimum balance. The 1.30% APY on the free Standard plan is meaningfully better than the 0% offered by Novo and the 0% on Mercury's business checking. If you keep $50,000 in your business account for tax reserves and operating cushion, that is roughly $650 per year in interest on the free plan.
The tiered plans make sense for freelancers whose businesses have grown to the point where they maintain larger balances and want higher yields without the complexity of a treasury product. The built-in lending products are a bonus for freelancers who occasionally need short-term financing.
The trade-offs: Bluevine's APY on the free plan requires qualifying card spending or customer payments, which most active freelancers will meet naturally but is worth verifying. The $4.95 cash deposit fee is a cost to factor in if you handle physical payments.
Chase Business Complete Banking
What it is
Chase Business Complete Banking is the entry-level business checking account from JPMorgan Chase, the largest bank in the United States. With more than 5,000 branches and 16,000 ATMs across the country, Chase offers something no fintech on this list can replicate: a physical presence where you can walk in, deposit a cheque, and speak to a banker.
For freelancers who need the credibility and services of a traditional bank, or whose work involves any amount of cash, Chase remains a practical choice. The account is not the cheapest or highest yielding, but it is the most widely accessible and the one your accountant, lawyer, and clients are most likely to recognise immediately.
Key features
5,000+ branches and 16,000 ATMs. The primary advantage of Chase is physical access. Deposit cash, get certified cheques, notarise documents, and meet with a banker face to face. For freelancers in industries like consulting, legal services, or creative production where clients occasionally pay by cheque or cash, this access matters.
Cash deposits up to $5,000 per month free. This is a feature that no fintech on this list offers. If you receive any payment in physical form, Chase handles it without surcharges up to the monthly threshold. Beyond $5,000, a $3 per $1,000 fee applies.
Unlimited electronic transactions. All ACH transfers and electronic payments are included without per-transaction fees.
20 free teller transactions per month. In-branch deposits, withdrawals, and other teller-assisted transactions are included. Additional transactions carry a fee, but 20 per month covers most freelancers comfortably.
Welcome bonus up to $500. Chase periodically offers cash bonuses for new business checking accounts that meet deposit and activity requirements. The bonus amount and terms change, so check current offers when you apply.
Chase Ink credit cards. Access to Chase's business credit card lineup, including the Ink Business Preferred, Ink Business Cash, and Ink Business Unlimited. These cards offer competitive rewards programmes that are separate from the checking account but available to Chase business customers.
QuickBooks integration. Chase connects to QuickBooks for bank feed imports, covering the most common accounting need.
Pricing
The Chase Business Complete Banking account carries a $15 monthly maintenance fee. The fee is waivable through any one of the following: maintaining a $2,000 minimum daily balance, spending $2,000 per month on a linked Chase business card, or receiving $2,000 or more in Chase QuickAccept deposits.
For most freelancers with even modest cash flow, one of these waiver conditions is easy to meet. The $2,000 daily balance is the most common path, and any freelancer who keeps a reasonable operating cushion will clear it without thinking about it.
Domestic wires cost $25 online or $35 in branch. International wires range from $40 to $50. These fees are significantly higher than the free wires offered by Mercury and represent a real cost for freelancers who send or receive wires regularly.
The standard FDIC coverage is $250,000 per depositor. There is no sweep network or extended coverage programme, which means large balances are less protected than they would be at Mercury, Relay, or Bluevine.
Chase checking accounts do not earn interest. Your business funds sit at 0% APY regardless of balance.
Who it suits best
Chase Business Complete Banking is the right account for freelancers who need physical banking services, handle cash or cheques regularly, or want the stability and recognition that comes with a major bank. It is also a reasonable secondary account for freelancers who keep their primary operating funds at a fintech like Mercury but want branch access for occasional deposits or services.
The account is less suited to freelancers who operate entirely digitally and want to maximise yield on their reserves. The 0% APY, wire fees, and $15 monthly charge (even if waivable) make Chase more expensive and less rewarding than any of the fintech options listed above. If you never walk into a branch and never handle cash, Chase offers little that Mercury or Bluevine does not do better and cheaper.
How to choose
The decision turns on three questions: how you get paid, whether you need a branch, and how much idle cash you keep.
If you operate entirely online and want zero fees with the best overall package, Mercury is the strongest choice. Free wires, free ACH, no monthly charge, and 3.50% APY on the personal banking side. The IO credit card with no personal guarantee is a bonus that most freelancers will appreciate. Open a Mercury account here.
If you want your checking balance to earn interest without moving money to a separate account, Bluevine's Standard plan earns 1.30% APY for free, which is better than the 0% you get at Mercury, Novo, or Chase on business checking. If you are willing to pay $30 or $95 per month (or meet the waiver conditions), the yield climbs to 1.75% or 3.0%.
If you budget by the Profit First method or want multiple checking accounts, Relay's 20-account structure is purpose-built for that workflow. No other bank on this list matches it. Pair it with automatic transfer rules on the Grow plan, and your cash flow manages itself.
If you want the simplest possible account with no decisions to make, Novo's single-tier, zero-fee checking with 40+ integrations is the most straightforward option. The trade-off is zero interest and limited wire capabilities.
If you handle cash, deposit cheques in person, or need the services of a physical bank, Chase Business Complete Banking is the practical choice. You pay for that access through wire fees and a waivable monthly charge, but the branch network is particularly useful for certain types of freelance work.
Many freelancers end up with two accounts: a primary at Mercury or Bluevine for daily operations and yield, and a secondary at Chase for the occasional branch visit. This is a perfectly reasonable setup, though it adds a small amount of bookkeeping complexity.
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FAQs
Do I need a separate business bank account as a freelancer?
Strictly speaking, sole proprietors are not legally required to open a business account in most jurisdictions. But mixing personal and business funds makes tax preparation harder, looks unprofessional to clients, and can cause problems if you are ever audited. A separate business account creates a clean boundary between personal spending and business income, and it costs nothing at banks like Mercury, Novo, or Bluevine on their free tiers.
Can I open a business account as a sole proprietor?
Yes. All five banks listed here accept sole proprietors. You can open an account using your Social Security number if you do not have an EIN, though obtaining an EIN from the IRS is free and takes about five minutes online. Having an EIN keeps your SSN off invoices and bank forms, which is a worthwhile privacy measure.
Which freelancer bank account earns the most interest?
On the business checking side, Bluevine's free Standard plan earns 1.30% APY, the highest no-cost option. Relay's Scale plan earns 3.21% APY on savings for $90 per month. Mercury Treasury earns up to 4.00% APY but requires a $250,000 minimum balance. For personal savings paired with a business account, Mercury personal banking earns 3.50% APY with no minimum, making it the most accessible high-yield option for freelancers who move earnings into personal savings regularly.
Are fintech bank accounts safe?
Fintech companies like Mercury, Relay, Novo, and Bluevine are not banks themselves. They partner with FDIC-insured banks to hold your deposits. Your money is protected by FDIC insurance up to the relevant limit ($250,000 at Novo, up to $3 million at Relay and Bluevine, up to $5 million at Mercury). The practical risk is operational: if the fintech company experiences issues, accessing your funds may be temporarily disrupted even though the deposits themselves are insured. Keeping a secondary account at a different institution is a sensible precaution.
What happens if my fintech bank shuts down?
Your deposits are held at the partner bank, not the fintech company, so they remain FDIC-insured even if the fintech ceases operations. You would eventually gain access to your funds through the partner bank, though the process could take time. This is one reason many freelancers maintain a backup account at a traditional bank like Chase alongside their primary fintech account.
Can I deposit cash with an online business bank?
Mercury and Novo do not support cash deposits. Bluevine allows cash deposits at Green Dot retail locations for $4.95 per deposit, up to $7,500 per 30 days. Relay does not support cash deposits. Chase offers free cash deposits up to $5,000 per month at any of its 5,000+ branches. If cash handling is a regular part of your freelance work, Chase is the only option on this list that handles it without friction.
How long does it take to open a freelance business bank account?
All five accounts can be opened online. Mercury, Novo, and Bluevine typically complete the process in under ten minutes. Relay takes a similar amount of time. Chase can be opened online but may require a branch visit to complete verification, which adds time. Most accounts are approved and funded within one to three business days.
Do I need a business credit card as a freelancer?
A business credit card helps separate expenses, builds business credit history, and can earn rewards on spending you would do anyway. Mercury includes the IO card with 1.5% cashback and no personal guarantee. Relay offers a Visa credit card on the Grow and Scale plans. Chase gives access to its Ink business card lineup. Whether you need one depends on your spending volume and whether rewards or credit building matter to your situation.
Which bank is best for international freelancers or freelancers with international clients?
Mercury is the strongest option for international transactions. Domestic and international USD wires are free, and there is no fee on international card transactions in USD. The 1% currency conversion fee on non-USD transactions is competitive but not the lowest available. Novo integrates with Wise for international transfers, which can offer better exchange rates for non-USD payments. Bluevine supports international wires to 180+ countries. Chase charges $40 to $50 per international wire, making it the most expensive option for cross-border payments.
What is Fabric?
Fabric is a workspace app that brings files, notes, bookmarks, and research into one searchable space. Freelancers use it to keep client files, contracts, project notes, and creative references organised and findable with AI-powered search. It is not a bank, but it solves the other half of the freelancer organisation problem: knowing where everything is. It connects to 30+ apps including Google Drive, Dropbox, and Slack, so you do not have to migrate your existing files.
Is Fabric free?
Fabric offers a free plan with core features including AI search, notes, file storage, and the AI assistant. Paid plans start at $8 per month on annual billing or $10 per month on monthly billing, with no per-user pricing. Your entire team can use one plan. See Fabric pricing for current details.
Can I use multiple business bank accounts?
Yes, and many freelancers do. A common setup is a primary account at Mercury or Bluevine for daily operations and yield, with a secondary account at Chase for occasional branch access and cash deposits. There is no limit to the number of business bank accounts you can hold, though each one adds a line item to your bookkeeping. Keep it to two unless you have a specific reason for more.
What fees should I watch out for with business bank accounts?
Monthly maintenance fees (waivable at Chase, absent at the fintechs), wire transfer fees (free at Mercury, $5 to $45 elsewhere), NSF/insufficient funds fees ($27 at Novo), cash deposit fees ($4.95 at Bluevine), and currency conversion fees on international transactions. The biggest hidden cost is opportunity cost: keeping $30,000 in a 0% APY account instead of one earning 1.30% or more costs you roughly $400 per year in forgone interest.
How do I switch my business bank account?
Open the new account first. Update your payment details with clients, payment processors (Stripe, PayPal), and any recurring charges. Transfer your balance. Keep the old account open for 60 to 90 days to catch any straggling deposits or charges. Update your accounting software with the new bank feed. The process is straightforward but requires attention to detail to avoid missed payments during the transition.
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