Are you a creator, a freelancer, or a solopreneur trying to run your entire business from a personal checking account? You know the chaos: the frantic search for tax write-offs, the “is this business or personal?” panic, and the sinking feeling that you have no real idea what your monthly profit is. Traditional banks weren’t built for the Passion Economy. They don’t understand your irregular income or your digital-first needs. It’s time for an upgrade. This guide is your key to unlocking the power of neobanks—financial tools built specifically for you.
(Disclosure: This article contains affiliate links. If you sign up for a service through one of our links, we may earn a commission at no extra cost to you. We are independently owned, and our opinions are our own. We only recommend products we’ve vetted and believe are the best solutions for freelancers and creators.)
The Passion Economy vs. The Old-World Bank
Welcome to the Passion Economy. You’re part of the fastest-growing segment of the workforce: the writers, designers, coders, YouTubers, coaches, and Etsy sellers building a business on their own terms. According to a 2021 report from SignalFire, over 50 million people worldwide consider themselves “creators.”
But here’s the problem: your financial tools are from a different era.
Traditional, brick-and-mortar banks are dinosaurs in a digital world. They hit you with:
- High monthly maintenance fees if you don’t keep a large minimum balance.
- No tools to help you manage your unique tax situation (hello, quarterly payments).
- Clunky apps that don’t integrate with the tools you actually use, like Stripe, Shopify, or PayPal.
- A long, paper-filled application process for a “small business” account that treats you like you’re a 50-person factory, not a sole proprietor.
This is why separating business and personal finances for freelancers is so difficult. You’re stuck in a system that doesn’t see you.
What Are Neobanks? The Financial Revolution You Need
A neobank is a 100% digital bank. It has no physical branches, and it lives entirely on your phone and computer. Because they don’t pay for buildings or bank tellers, they pass those savings on to you in the form of zero-fee accounts, high-tech features, and specialized tools.
These financial technology (fintech) companies are designed for a modern workforce. This is the very core of the fintech revolution, which is all about what is fintech and how it is shaping finance. Neobanks are building banking solutions for the passion economy from the ground up, focusing on the actual problems you face.
They ask questions like:
- How can we help a YouTuber automatically set aside money for taxes from an AdSense deposit?
- How can we build an invoice generator for a freelance writer right into their bank app?
- How can we give an Etsy seller expense-tracking categories that match their Schedule C tax form?
The answer to these questions is the new breed of financial tools for freelancers we’re about to cover.
How We Picked the Best Neobanks for Creators
To build this list, we focused on the features that matter most to the self-employed. This isn’t just about finding a “free” account; it’s about finding the right account that saves you time and money.
Our criteria for the best banking apps for creators:
- True No-Fee Banking: No monthly fees, no minimum balance requirements.
- Built-in Tax Tools: Features that help you calculate, save for, and pay your quarterly estimated taxes.
- Freelancer-First Features: Tools like invoicing, expense tagging, and virtual debit cards.
- Security & Insurance: All banks on this list must be FDIC-insured up to $250,000 via a partner bank.
- Ease of Use: A clean, fast, and reliable mobile app is non-negotiable.
The Top 5 Neobanks for Freelancers and Creators in 2025
We’ve tested, reviewed, and compared the top players. Here are the best neobanks for sole proprietors and single-person LLCs.
1. Found: Best for Real-Time Tax Tracking and Bookkeeping
Found is a digital bank built from the ground up with one goal: to simplify self-employment. It’s more than a bank account; it’s a financial command center, and it’s our top pick for banking for gig workers and freelancers who dread tax season.
In-Depth Review:
Found’s superpower is its real-time tax integration. The moment you get a deposit from a client, Found automatically calculates the taxes you’ll owe on that income and shows it to you. It then recommends you move that amount into a dedicated “Tax Pocket” where you can’t accidentally spend it.
But it gets better. As you spend money using your Found debit card, you categorize each expense (e.g., “Software,” “Office Supplies,” “Business Meals”). Found’s built-in bookkeeping for freelancers automatically tracks these write-offs. At any point, you can open the app and see your actual taxable income, in real-time.
When it’s time to file your taxes, Found can auto-generate your Schedule C. This single feature can save you hundreds (or even thousands) of dollars on accounting software or professional prep fees.
Key Features:
- Real-time Tax Estimates: Instantly see your tax liability as you earn.
- Automatic Expense Tracking: Built-in bookkeeping that learns your habits.
- Tax Pockets: A separate, ring-fenced account just for your tax money.
- Invoicing Tools: Create and send professional invoices directly from the app.
- Schedule C Generation: Fills out your tax forms for you.
Pros:
- The most seamless, integrated tax tools on the market.
- Completely free for all core banking and tax features.
- Excellent, easy-to-use mobile app.
Cons:
- No interest on your balance.
- Doesn’t allow cash deposits at this time.
Who is it for?
Found is the best neobank for freelance writers, designers, consultants, and gig workers (like DoorDash or Uber drivers) who are sole proprietors and want their taxes and bookkeeping to be as “hands-off” as possible.
(Click here to learn more about Found and simplify your taxes)
2. Lili: The All-in-One Solution for Freelancer Lifestyle
Lili markets itself as “Banking for Your Business,” and it delivers. It’s a sleek, powerful, and popular choice that combines robust banking with smart features designed for a modern creative career.
In-Depth Review:
Lili is a direct competitor to Found and is another fantastic all-in-one freelance banking solution. Like Found, its core strength is taxes. The “Tax Bucket” feature automatically sets aside a percentage of your income for your tax bill.
Where Lili shines is in its comprehensive, tiered approach. The free account (Lili Standard) is a great basic business checking account. But the paid plans (Lili Pro, Smart, and Premium) are where the magic happens.
With Lili Pro, you get an advanced expense-tracking system that lets you categorize transactions with a simple swipe. It also includes “BalanceUp,” a fee-free overdraft feature up to $200, which is a lifesaver for managing the irregular income of creators.
The higher tiers add automated savings, cashback rewards, and even a “DIY” invoicing tool. Lili feels like a complete financial partner, helping you manage your money, prepare for taxes, and build savings all in one place.
Key Features:
- Tax Bucket: Automatically sets aside a percentage of all income for taxes.
- Smart Expense Tracking: Sort business vs. personal expenses with a swipe.
- Invoice Generator: Create and manage unlimited invoices in the app.
- Fee-Free Overdraft: A “BalanceUp” safety net of up to $200.
- Automated Savings: Set up “buckets” for different savings goals.
Pros:
- Excellent, user-friendly interface.
- Tiered plans let you choose the features you need.
- Great for managing the “feast or famine” cycle of freelance life.
Cons:
- The best features (invoicing, advanced taxes) are in the paid plans (starting around $9/month).
- The free plan is more basic than Found’s.
Who is it for?
Lili is the best digital bank for YouTubers, influencers, and creative freelancers who want a beautiful app that combines banking, tax prep, and invoicing in one package and are willing to pay a small monthly fee for premium features.
(Click here to explore Lili’s features and open an account)
3. Novo: Best for Integrations and Scaling Your Business
If Found and Lili are built for the solo freelancer, Novo is built for the freelancer who is starting to think like a business owner. Its superpower isn’t taxes; it’s integrations.
In-Depth Review:
Novo is a free business checking account that connects seamlessly to the other tools you use to run your business. It has best-in-class integrations with Stripe, Shopify, Etsy, PayPal, Slack, Xero, QuickBooks, and more.
What does this mean? It means when you get a payout from Stripe, it shows up in Novo instantly, with all the transaction details. You can see your financial data from multiple platforms in one place.
Novo’s other standout feature is “Novo Reserves.” This allows you to create up to 10 “envelopes” or “pockets” within your account to budget for things like “Taxes,” “New Equipment,” “Owner’s Pay,” or “Marketing.” It’s the envelope system, digitized for your business.
Novo also refunds all ATM fees, which is a huge perk for creators who need to pull out cash. While it doesn’t have the built-in tax calculations of Found or Lili, it provides the powerful, connected hub you need to build a more complex financial system.
Key Features:
- Massive Integrations: Connects to Stripe, Shopify, Etsy, QuickBooks, and thousands more.
- Novo Reserves: A powerful budgeting tool to partition your money.
- ATM Fee Refunds: Get all ATM fees refunded, worldwide.
- Free ACH, Wires, and Mailed Checks: No fees for common payment types.
Pros:
- Absolutely no monthly fees or minimums.
- Unmatched integration ecosystem.
- Fantastic budgeting “Reserves” feature.
- Best-in-class money movement (free wires).
Cons:
- No built-in tax estimation or bookkeeping. You’ll need to integrate with software like QuickBooks.
- Does not support cash deposits.
Who is it for?
Novo is the best business checking account for Etsy sellers, Shopify store owners, and creators who get paid through multiple platforms (like Stripe and PayPal) and need a central, powerful hub to manage their money.
(Click here to see Novo’s integrations and open a free account)
4. Bluevine: Best High-Yield Checking for Established Creators
What if your business bank account actually made you money? That’s the premise behind Bluevine. This neobank is aimed at established freelancers and small businesses who are past the “just starting out” phase and now maintain a healthy account balance.
In-Depth Review:
Bluevine’s main selling point is its high-yield business checking account. You can earn a high Annual Percentage Yield (APY) on your balance up to $250,000. For creators who have $10,000, $20,000, or more sitting in their business account, this is a no-brainer. You’re earning significant passive income just by letting your money sit there.
To qualify for the high APY, you typically need to meet simple activity requirements (like spending on your debit card or receiving client payments), which are easy for any active business owner.
Bluevine isn’t just a savings vehicle; it’s a robust banking platform. It offers built-in bill pay, the ability to create “sub-accounts” (similar to Novo’s Reserves), and, unlike many neobanks, it does support cash deposits through a partnership with Green Dot. It also offers a line of credit, making it a true banking solution for small creative businesses that need access to capital.
Key Features:
- High-Yield APY: Earn one of the highest interest rates on the market for a business checking account.
- Sub-Accounts: Create up to 5 sub-accounts for budgeting.
- Cash Deposits: Deposit cash at over 90,000 Green Dot locations.
- Lines of Credit: Access to flexible funding as your business grows.
Pros:
- Excellent interest rate that turns your checking account into an earning asset.
- More “traditional” bank features, like cash deposits and lines of credit.
- No monthly fees.
Cons:
- The high-yield APY has qualification requirements (though they are simple).
- No built-in tax or invoicing tools.
Who is it for?
Bluevine is the best neobank for established freelancers, small creative agencies, and six-figure creators who maintain a significant balance in their checking account and want that money to work for them.
(Click here to learn about Bluevine’s high-yield checking)
5. Mercury: Best for Tech-Savvy Creators and Startups
Mercury is different. It’s not really for the solo freelance writer. Mercury is “banking for startups,” and in the creator economy, many of you are building just that: a media company. If you are an incorporated creator (LLC or C-Corp) and are tech-savvy, Mercury is in a league of its own.
In-Depth Review:
Mercury is built for scale. Its interface is clean, powerful, and built around an API. This means you can programmatically manage your money, build custom dashboards, or connect it to any tool you can imagine.
It’s designed for businesses that are “venture-backed” or aspire to be. It has features like free domestic and international wire transfers, virtual debit cards you can create and destroy in seconds (great for managing online subscriptions), and user permissions, so you can give your VA or accountant access.
Mercury’s “Treasury” product even lets you take your cash reserves (over $500k) and put them into low-risk, high-yield money market funds. While this is an advanced feature, it shows their focus. They are building a financial stack for creator startups.
Key Features:
- Free Domestic & International Wires: A massive cost-saver for businesses working with global clients or contractors.
- Powerful API Access: Total programmatic control over your banking.
- Unlimited Virtual Cards: Securely manage your online spending.
- User Permissions: Safely grant access to your team members.
- Treasury: A high-yield investment product for large cash balances.
Pros:
- Incredibly powerful and scalable.
- Completely free, with no-fee wires.
- The best choice for tech-focused businesses.
Cons:
- Requires an EIN and formal incorporation (LLC/C-Corp). Not for sole proprietors.
- Overkill for a simple freelancer.
- No cash deposits.
Who is it for?
Mercury is the best bank for creator startups, incorporated YouTubers, Substack authors with a team, and tech-savvy creators who are building a scalable media business and need a financial OS, not just a bank account.
(Click here to see if Mercury is right for your creative business)
Comparative Look: Which Freelancer Bank is Right for You?
It’s easy to get overwhelmed. Let’s simplify it based on your primary need.
- If your #1 problem is taxes and bookkeeping: Go with Found. Its real-time, free tax tools are unbeatable for sole proprietors.
- If you want an all-in-one app with great tax tools AND invoicing: Go with Lili. It’s the best “command center” for a slightly more advanced freelancer.
- If you run an e-commerce store (Etsy/Shopify) or use Stripe heavily: Go with Novo. Its integrations are the top priority.
- If you keep $10,000+ in your account and want to earn interest: Go with Bluevine. Don’t let your cash sit idle.
- If you are an LLC or C-Corp and are building a scalable media company: Go with Mercury. It’s built to grow with you.
You’ve Picked a Bank. What’s Next?
Opening your account is the first step. True financial control comes from building a smart, modern financial “stack.”
- Separate Everything: Once your new account is open, stop using your personal account for business. This is the golden rule. The Small Business Administration (SBA) officially recommends this as the first step to protecting your personal assets.
- Automate Your Income: Move all your client payments, AdSense deposits, and platform payouts (Stripe, PayPal, etc.) to your new neobank account.
- Pay Yourself a “Salary”: This is the key to managing irregular income. Don’t live out of your business account. Instead, on the 1st and 15th of every month, pay yourself a consistent “salary” from your business account to your personal account.
- Connect Your Tools: Connect your bank to your accounting software (if it’s not already built-in).
- Build Your Wealth: Now that your business income is organized, you can focus on growth. This is where you can start building passive income streams or using your profits to invest. Many creators use micro-investing apps to automatically invest their profits.
You should also consider your business insurance. Just as neobanks are disrupting banking, a new wave of “insurtech” is making it easy for freelancers to get liability or errors and omissions (E\&O) insurance. This is a crucial, and often overlooked, part of your professional stack. You can read more on this trend in The Rise of Insurtech Explained.
The Future of Banking is You
The Passion Economy is no longer a “side hustle.” It’s the new economy. You are a business owner, and you deserve a bank that treats you like one.
Choosing one of these neobanks for creators is more than just a convenience; it’s a strategic business decision. It’s the difference between chaos and control, between being a stressed-out freelancer and being a confident, professional solopreneur. Stop letting a 20th-century bank hold back your 21st-century business.
Frequently Asked Questions (FAQ) About Neobanks for Freelancers
1. Are neobanks safe for my business?
Yes, as long as they are FDIC-insured. All the banks on this list (Lili, Found, Novo, Bluevine, Mercury) are not banks themselves, but they partner with established, chartered banks (like Evolve Bank & Trust, Choice Financial Group, or Middlesex Federal Savings) to hold your money. This means your deposits are FDIC-insured up to the legal limit of $250,000. You can confirm a bank’s FDIC status on the FDIC website.
2. Do I need an LLC to open a business bank account?
No. This is a common myth. You can (and absolutely should) open a business bank account as a sole proprietor. You will use your own name as the business name and your Social Security Number (SSN) as your business tax ID. All the banks on this list, with the exception of Mercury, allow sole proprietors to sign up easily.
3. What’s the difference between a neobank and a traditional bank?
A traditional bank (like Chase or Bank of America) has physical branches, a wider range of complex products (like mortgages), and is often slower to innovate. A neobank is 100% digital, has lower overhead (so fewer fees), and is built around a modern, tech-first mobile app with specialized features.
4. Can I use a personal bank account for my freelance business?
You can, but you absolutely should not. It’s a nightmare for taxes, as you have to manually separate thousands of transactions. It also “pierces the corporate veil” if you have an LLC, meaning if your business is sued, your personal assets (like your house and car) could be at risk.
5. What is the best neobank for freelance taxes?
Found is our top pick specifically for taxes. Its ability to give you real-time tax estimates and auto-generate your Schedule C is a game-changer for sole proprietors. Lili is a very close second with its excellent “Tax Bucket” feature.
6. What is the best free business checking account for Etsy sellers?
Novo is an excellent choice for Etsy sellers. Its seamless integrations with Etsy, Shopify, and PayPal mean your sales data flows right into your bank account, and its “Reserves” are perfect for setting aside money for materials, fees, and marketing.
7. I’m a YouTuber. What’s the best bank for me?
It depends on your stage. If you’re a sole proprietor just starting to make AdSense revenue, Lili is a fantastic choice for its tax buckets and ease of use. If you are incorporated (LLC) and have multiple income streams (sponsorships, merch, AdSense), Mercury is the more scalable, professional option.
8. What’s the difference between Lili and Found?
They are very similar, but the key difference is in the features. Found offers its best tax and bookkeeping tools for free, making it the best value. Lili has a more comprehensive suite of tools, including invoicing and automated savings, but its best features are on its paid “Pro” plan.
9. Can I deposit cash with these neobanks?
It varies. Most digital-only banks do not accept cash deposits directly. However, Bluevine has a partnership with Green Dot that lets you deposit cash at over 90,000 retail locations (a fee may apply). For others, you may need to use a service like PayPal or keep a personal bank account to deposit cash and then transfer it.
10. What bank is best for managing irregular income as a creator?
Any bank with a “Pockets” or “Reserves” feature is excellent for this. Novo’s “Reserves” and Lili’s “Savings Buckets” are designed to help you implement the “pay yourself first” method and smooth out the feast-or-famine cycle.
11. Do these banks offer invoicing tools?
Yes. Lili and Found both have built-in invoice generators that let you create, send, and track client invoices right from the app. This is a huge time-saver and keeps your income tied directly to your banking.
12. What is an EIN and do I need one?
An EIN is an Employer Identification Number. It’s like a Social Security Number for your business. You do not need one if you are a sole proprietor (you can use your SSN). You must have one if you are an LLC or corporation. You can get an EIN for free from the official IRS website.
13. What is the best bank for a freelance writer or designer?
For most freelance writers and designers operating as sole proprietors, Found is the ideal, no-cost solution. It handles your 1099 income, tracks your write-offs (like software, web hosting, and client lunches), and makes tax time simple.
14. Can I have more than one business bank account?
Yes! Many smart freelancers do. For example, you could use Found to receive all your income and handle taxes, and then transfer your “profit” to a Bluevine account to earn high-yield interest.
15. What happens if a neobank goes out of business?
Because your money is held by their FDIC-insured partner bank, you are protected. Even if the neobank (the app company) were to fail, your deposits (up to $250,000) are safe and would be returned to you by the FDIC. This makes them just as safe as a traditional bank.
