7 Best Banks for a Photography Business

Are you just starting your photography business and need to find the best bank to open an account with? Or maybe you are looking to switch banks. Either way, this list has got you covered with the best banks for a photography business!

Adventure photographer lying in the grass field taking photographs

Why I started looking for a new business bank account

Opening a business bank account is one of those admin items that most business owners (especially the creative types!) don’t particularly enjoy.

But luckily it’s generally a one-time thing, so once you take care of it, you can scratch it off your list and move on!

Unluckily for me, however, about a year into my photography business, I got an email notification from my bank at the time (which was Azlo) saying that the bank was closing! What? ….Closing? Do banks close? Apparently they do.

Which meant for me I had to go looking for a new bank and start that research process all over again.

But this time I decided I’d make a post about it and hopefully help all those future photographers save some time and money.

What to look for in a bank for your photography business

When you’re looking at different banks and weighing your options, here are some things you will probably want to consider:

  • Is there a minimum balance required to open the account?
  • Are there minimum monthly balances?
  • Does the bank account have any monthly fees?
  • Are there transaction limits?
  • What banking features do I need to run my business?
    • Do I need physical bank branches?
    • Do I need physical checks?
    • Is mobile banking important to me?
    • What about extra features, like expense management and automatic saving for taxes?
  • Is earning interest on my checking account important?

But this post has something for everyone, whether zero fees are most important to you, or whether you prioritize having extra perks or features. So read on for more details about the best options I found!

Why you should open a business bank account?

In case you’re wondering, “Should I even bother opening a separate business bank account? Can’t I just use my personal bank account?”

The answer is no, it’s definitely not a good idea to just use your personal business account.

Commingling your business expenses with your personal expenses not only makes it harder to manage your business, but it also can become a big problem when it comes to filing your taxes. The IRS has strict rules around deducting only your legitimate business expenses, and keeping business expenses separate from your personal expenses is a crucial component.

Also, if you’ve set up your business as an LLC, you may nullify the liability protection if you have mixed your personal and business assets.

Luckily, once you know which bank you want to use, it’s usually very quick and easy to apply and open an account. Sometimes even less than 5 minutes! Read on for more info on how to open an account!

How to open a photography business bank account

Usually it’s very quick and easy to open an online bank account from the bank’s website. You will likely need some of the following items:

  • Form(s) of personal identification
  • Your Articles of Organization (if your business is an LLC)
  • An EIN (which is a Federal Tax Identification number) if you have one

7 Best Banks for a Photography Business

After quite a bit of research, here are some of the best banks that I’ve found that would be best suited for a photography business:

  • Novo Checking
  • Radius Business Tailored Checking
  • Lili Digital Banking
  • BlueVine Business Checking
  • Axos Basic Business Checking
  • Chase Business Complete Banking
  • nbkc Business Checking

Read on for detailed info on each type of account and when they might be the best fit for you and your business needs.

1. Novo Checking

Why this bank account is great

Novo Checking is the bank that I ended up moving my account to from Azlo when it closed.

Novo is really tuned into the needs of small business owners and they seem to tailor everything they do around this.

I liked how easy it was to open an account and has all the features that I need for my business banking. They also have no fees, which was really important to me!

Need to Know Features

Minimum to open account$50
Minimum monthly balance required$0
Monthly account fee$0
Does it earn interest?No
ATMsNo ATM fees
Transaction limit?Unlimited
Mobile Banking?Yes
Can you get physical checks?Yes
How to apply for accountOnline
How to bankOnline only (no physical branches)

Open an Account

Open a Novo Business Checking Account.

2. Radius Business Tailored Checking

Why this bank account is great

Radius offers some great features like a cash back reward on purchases and a small earned interest percent for a low monthly fee (which can be waived if certain requirements are met).

Need to Know Features

Minimum to open account$100
Minimum monthly balance required$0
Monthly account fee$10 (waived if certain requirements met)
Does it earn interest?0.1% APY on balances >$5,000
ATMsNo ATM fees
Transaction limit?Unlimited
Mobile Banking?Yes
Can you get physical checks?Yes
How to apply for accountOnline
How to bankOnline only (no physical branches)

$10 monthly fee is waived with a $5,000 minimum monthly balance.

Open an Account

Open a Radius Business Tailored Checking Account.

3. Lili Digital Banking

Why this bank account is great

Lili offers some very helpful features not offered by other banks, including expense management tools and a function to help you automatically set aside money for federal taxes. There’s also a feature that allows for early direct deposit arrivals.

If the financial side of running your business makes your head hurt, these extra tools can come in really handy!

Need to Know Features

Minimum to open account$0
Minimum monthly balance required$0
Monthly account fee$0
Does it earn interest?No
ATMsFree at in-network ATMs
Transaction limit?Unlimited
Mobile Banking?Yes
Can you get physical checks?No
How to apply for accountOnline
How to bankOnline only (no physical branches)

Open an Account

Open a Lili Digital Banking Account.

4. BlueVine Business Checking

Why this bank account is great

It’s hard to find a business bank account that has zero fees AND earns interest on your checking account balance, much less the full 1% that this account currently offers. It’s a great option to consider!

Need to Know Features

Minimum to open account$0
Minimum monthly balance required$0
Monthly account fee$0
Does it earn interest?1% on balances up to $100,000
ATMsFree at in-network ATMs
Transaction limit?Unlimited
Mobile Banking?Yes
Can you get physical checks?Yes (incl. two free checkbooks)
How to apply for accountOnline
How to bankOnline only (no physical branches)

Open an Account

Open a BlueVine Business Checking Account.

5. Axos Basic Business Checking

Why this bank account is great

No minimum monthly balances or fees to open.

Also, they frequently offer promos for opening a new account (such as a $100 credit or similar). Check their website for details and any current promotions.

Need to Know Features

Minimum to open account$1,000
Minimum monthly balance required$0
Monthly account fee$0
Does it earn interest?No
ATMsFree nationwide
Transaction limit?200 per month limit ($0.30 each thereafter)
Mobile Banking?Yes
Can you get physical checks?Yes (first 50 checks are free)
How to apply for accountOnline
How to bankOnline only (no physical branches)

Open an Account

Open an Axos Basic Business Checking Account.

6. Chase Business Complete Banking

Why this bank account is great

Chase is a great option for those who may still need or want to visit a physical bank branch. The other options on this list are mostly online only banking. It’s also a great option for those who personally prefer a larger, more traditional bank.

Need to Know Features

Minimum to open account$0
Minimum monthly balance required$0
Monthly account fee$15 (waived if certain requirements met)
Does it earn interest?No
ATMsFree at in network ATMs
Transaction limit?Unlimited
Mobile Banking?Yes
Can you get physical checks?Yes
How to apply for accountOnline or at a physical branch
How to bankOnline or at a physical branch

$15 monthly fee is waived if any one of the following requirements are met:

  • $2,000 minimum daily balance
  • $2,000 in purchases on your Chase Ink Business Card
  • $2,000 in deposits from QuickAccept or other Chase Merchant Services
  • Linked to a Chase Private Client Checking Account

Open an Account

Open a Chase Business Complete Checking Account.

7. nbkc Business Checking

Why this bank account is great

Another great option with zero fees.

Need to Know Features

Minimum to open account$0
Minimum monthly balance required$0
Monthly account fee$0
Does it earn interest?No
ATMsFree at in network ATMs
Transaction limit?Unlimited
Mobile Banking?Yes
Can you get physical checks?Yes
How to apply for accountOnline
How to bankOnline (only physical branches in KS & MO)

Open an Account

Open an nbkc Business Checking Account.

Do you have a favorite business bank account that you love?

Do you have another favorite business checking bank account that you love that I didn’t list here? Or other questions you want answered about business checking accounts for photographers?

Leave a comment below!

Elopement Photographer Kim from Wild and Found Photography

Hi I’m Kim, a Denver, Colorado based photographer specializing in Adventure Elopements in Colorado and worldwide! Photographing couples on the most special day of their lives is a true honor for me. But I’ve made it my mission to take it one step further than that. When you work with me, you’re getting more than just a photographer. I’m here to help you with all of the planning resources you need to have the most amazing elopement day ever! That includes everything from assistance with location ideas, timeline planning, and lots more free resources. So you can forget the work, and focus on having fun!

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