That way, you’re free to make an informed decision with minimal fine-print reading.

What Is a Freelancer?

Freelancers typically work as independent contractors for several companies, called clients.

Axos Bank

What Makes a Business Bank Account Ideal for Freelancers?

Since freelancers are self-employed, they have some additional needs and responsibilities that the average full-time employee might not.

For example, freelancers need to pay taxes themselves nothing is withheld from their paychecks automatically.

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However, these are nice-to-have features rather than necessities.

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Did you know?

However, if youre used to in-person banking, Axos might not be for you.

Altogether, the Chase business checking account is an excellent option.

Lili

To learn more, read ourChase Bank review.

This is fairly standard for the payment processing industry, though.

The Lili business checking account* comes with its own Visa debit card.

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Even better: you’re free to earn cash by referring up to 10 friends to join Lili.

*Lili is a financial technology company, not a bank.

Banking services are provided by Sunrise Banks N.A., Member FDIC.

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This gives you a feature-rich business checking account and the additional payment options of a PayPal account.

This gives the most options to the widest possible group of self-employed individuals.

However, its a good idea to separate your business and personal accounts using a separate business checking account.

You may also want to look at business savings accounts.

This makes it easier to track income and expenses.

This is the easy part!

The bank will take care of the rest.

Penny Hoarder contributors Dave Schafer and Jamie Cattanach did the reporting and writing for this story.

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