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If you're a freelancer, a dedicated self-employed bank account is an absolute must have
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So today I've got the seven best self-employed bank accounts for freelancers
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Let's go. Hey guys, it's Ashley here with Millo.co where freelancers come to level up their business
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And before we dive into the best bank accounts for freelancers, make sure you subscribe for
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more freelancing videos every week. And remember to comment with your best idea for our next video
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If we pick your idea, we'll enter you to win $1,000 that you can spend on your freelance business
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Okay, let's dive into the best self-employed bank accounts for freelancers. First on the list is Found
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Found is an all-in-one banking solution for freelancers and the self-employed. We love that Found has absolutely no account fees, no monthly minimums and no credit checks
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Plus they offer real-time profit and loss statements, expense and income reports, expense
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categorization, receipt logs, invoices, and more. So Found really does a lot more than a traditional bank account
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It's a bookkeeping invoicing and banking tool all wrapped into one. You can set aside taxes automatically so you have plenty of cash when taxes are due and
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you can get a schedule C report and even make tax payments right from the app
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We highly recommend Found among the very best banking solutions for freelancers and
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self-employed solopreneurs. If you think Found might be a good fit for you, just click the link in the description
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of this video. We'll be sure to include links to all the options listed today so you can click through
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and learn more for yourself. Another option for freelance banking is Bonsai Cash
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Bonsai has built one of our favorite freelance productivity tools to help you with invoicing
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proposals, contracts, and more. Now they offer Bonsai Cash, an all new business checking account for freelancers
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Our favorite feature in Bonsai Cash is called Envelopes, which help divide your money into categories
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You can create as many envelopes as you want to help manage your freelance finances
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Plus, you can connect Bonsai Cash to Bonsai Payments or other sources to get paid directly
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and spend your funds with your virtual and physical cards. Click the link in our description to learn more
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Next up on the list is Lily. Lily is a banking solution designed to save time, money, and energy for anyone who runs
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a business on their own. With Lily, there's no minimum balance requirement, no hidden fees, and zero-fee ATM withdrawals
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at 38,000 plus locations. They also give mobile check deposits, competitive spending limits, and a Visa Business Debit
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Card with cash back rewards when you open an account. If Lily sounds like a good option for you, make sure to click the link in our video description
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Next up is Novo. Novo is an online-only, self-employed banking solution. With Novo, your clients can pay invoices directly to your bank account, which means no more
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waiting for funds to transfer into your account. You can also pay bills from within the account, using transfers or even paper checks
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Unfortunately, Novo does not yet have a recurring bill pay function, so you have to pay your
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bills individually each month. And they do charge you $27 each time insufficient funds are in your account, which can be a
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real downer. Next up is Nearside. With Nearside, there are no monthly fees, no overdraft fees, and no minimums
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They've got simple mobile payments through Apple Pay or Google Pay. And with 2.2% unlimited cash back and no monthly fees, your Nearside small business bank account
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is built for you to save more and spend wisely in your business
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In addition, Nearside can help with your LLC formation and other needs for growing a small business
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If Nearside seems like a fit for you, click the link in our description
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Another option for your freelance banking is called Oxygen. Oxygen helps you save money while banking with 5% cash back on everyday business purchases
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on things like gas, rideshare, shipping, and more. You can earn 1% APY on any savings you keep in your business account each year as well
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And finally, if you'd like something a bit more traditional but reliable, we recommend
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you to try going with Chase Bank. While Chase typically caters to larger businesses or personal finances, they have pretty nice
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small business accounts for freelancers and those who are self-employed. They've got all the perks that come with a big bank, but also some of the downside
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like higher fees and less flexibility. Plus, you can earn $300 when you open a Chase business checking account
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If that sounds like a good fit for you, you can find the link in our description
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And that's it. Our list of the 7 best bank accounts for freelancers and self-employed entrepreneurs
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In the end, it all comes down to what you need for your freelance business
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And remember, nothing's permanent. If you need to change your bank later, you can always do it
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So dive in, give one a try, and see what you think. For now, I'm Ashley with Millo.co, and we'll see you next time
