The routine of a freelance worker in the United States can be quite challenging, demanding more than just talent and dedication. Maintaining a stable financial life is essential to pay bills, cover taxes, and still have stability despite not having a fixed income.
Additionally, it’s necessary to deal with unexpected events, periods of lower demand, and the responsibility of managing everything alone. Therefore, choosing a bank for freelancers can account for 60% of your professional success.
Unlike salaried workers, the self-employed do not have paid vacations, corporate benefits, or a fixed salary at the end of the month. For this reason, it is important to be part of financial institutions that offer benefits to this group. Fortunately, the American market has been adapting to this new reality.
Why choose a bank for freelancers?
Freelancers have a financial routine that differs from that of a regular worker. This is because they need to generate invoices, set aside money for taxes, and maintain very strict control over their expenses. However, most traditional banks do not offer support for this type of worker. Often, they require more formal proof of income to grant credit or open business accounts.
This is where banks for freelancers come in. These institutions, mostly digital, better understand the life of a self-employed worker and offer practical and flexible solutions for daily life. An essential tip for those who work in this format is to keep their personal finances separate, as this allows for a much more organized professional life. This can be important when filing taxes or presenting data to financiers or clients.
Advantages of separating professional finances from personal finances
Many freelancers, when starting their careers, make the mistake of mixing their professional and personal finances. This makes financial management very difficult, obscuring the visualization of professional profits. Additionally, it can delay expense control and cause problems when accounting to the IRS or seeking credit in the market.
By using a bank for freelancers, you can separate your earnings and expenses more quickly and practically. This will facilitate planning, tax reserves, and even investments in work tools. Therefore, separating finances is a simple but important step that brings security to your professional journey.
What should we look for when making this choice?
As we have noted, choosing a bank is as important as committing to your professional life. This way, you can stay organized, knowing exactly where the money is coming from, and especially where it is going. Thus, you will have total control over your finances.
But the question is: what should I look for when choosing a good bank for freelancers? With this in mind, we have separated some tips that will help you when making this decision. You should analyze these points before choosing the best bank for your situation:
- Monthly Fees: Many digital banks eliminate these charges, which represents considerable savings over time.
- Integrations with Digital Tools: Especially useful for those who receive payments via platforms like PayPal, Stripe, or work with accounting via QuickBooks.
- Ease of Deposits and Transfers: The more automated and intuitive the process, the better.
- Access to Credit: Even freelancers may need a loan to grow or cover unexpected events.
- Customer Service and Support: Banks with 24-hour support or specialized service help resolve issues quickly.
Discover the best banks for freelancers in the US
Now that you know how to choose the best bank for freelancers, you need to know which ones are available on the market. Based on updated data from official websites, we have compiled the main banks that offer exclusive benefits for freelancers in the United States in the table below. Each presents unique solutions that can meet the needs of different profiles of self-employed professionals.
Therefore, remember to analyze your financial situation, the benefits offered, and your long-term goals. This way, you will not make a mistake when choosing the bank to organize your two finances, bringing peace of mind and security to your finances.
| Bank | Exclusive Benefits | Monthly Fees | Observations |
| Lili | Free digital account, expense categorization, automatic tax savings, intuitive app, and real-time reports. | None | Ideal for freelancers who need simplicity and total control of personal and professional finances. |
| BlueVine | Account with 2% APY yield up to $100,000, business lines of credit up to $250,000, unlimited transactions and deposits. | None | Perfect for self-employed individuals with high financial turnover and the need for flexible credit. |
| Novo | Integrations with PayPal, Stripe, and QuickBooks, free ACH transfers, no-hidden-fee, easy-to-use platform. | None | Excellent for digital and creative freelancers who use online payment platforms. |
| Mercury | Unlimited virtual cards, advanced team and expense management, API integration, no fees, and complete dashboard. | None | Recommended for freelancers with a registered company (LLC or C-Corp) and a focus on financial automation. |
| Axos Bank | Interest-bearing business checking account, mobile deposits, online payments, 24/7 customer service. | Fees may apply if the balance is less than $5,000. | Ideal for freelancers with higher working capital looking for yield and stability. |
| Chase | Access to physical branches, opening bonuses for new customers, complete mobile banking, and traditional services like checks and merchant services. | $15 per month (waived if minimum balance is maintained). | Great choice for those who prefer a physical structure with a broad national presence. |
Conclusion: Which is the best bank for freelancers?
The answer is quite simple: it depends on your profile, goals, and the needs of your work. If you are starting a freelance career, Lili and Novo offer cost-free solutions with useful tools for your daily life. However, if you need credit or yield on your balance, BlueVine and Axos Bank are the best options. Meanwhile, Mercury and Chase are more suitable for freelancers with a more consolidated structure or who prefer physical support.
Well, you have learned that choosing a good bank for freelancers is important for taking the first step towards stability and growth in your profession. Therefore, you should always carefully consider several options, ensuring not only practicality but also the expansion of your work. Pay attention to the tips given by Agora na Mídia, and you will be able to organize your entire financial life.
Also, remember that the financial landscape is constantly changing, with new offers, rate updates, and benefits that can make a difference in your pocket. Therefore, it is essential to review your choices periodically and keep up with industry news to continue making the most of your bank.
