# No fee business account for a new LLC: Who accepts you

Michel Myara, Co-founder & Product Designer · September 25th 2026
*Amounts last verified on September 21st 2026*
Canonical: https://looch.money/blog/no-fee-business-account-new-llc

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## Several business accounts charge no monthly fee for a new LLC. What separates them is who they accept

![A founder compares a no fee business account for a new LLC.](https://looch.money/img/blog/no-fee-business-account-new-llc/no-fee-business-account-for-a-new-llc-founder-at-kitchen-table.webp)

A no fee business account for a new LLC isn’t hard to find. [looch accounts have no monthly fee](/pricing), [Mercury’s free tier is $0/month with no minimum balance and free ACH and domestic wires](https://mercury.com/pricing), and [Relay Starter is $0/month with no minimum balance](https://relayfi.com/pricing). [Bluevine Standard has no monthly fee, although outgoing wires cost up to $15](https://www.bluevine.com/business-checking), while [Wise Business charges a one-time $31 set-up fee](https://wise.com/us/pricing/business).

*Last verified: September 28th, 2026.*

looch provides no-fee financial accounts with account and routing numbers. Its account suite includes Primary Business, Tax Stash, Contact Facing, Payments, Payroll, and Checkout Payments. Payroll service is coming soon. Smartcards, payments, CPA-quality books, and a QuickBooks and Xero migration tool sit in the same app. looch is not a bank.

![No fee business account for a new LLC options compared by key eligibility rules.](https://looch.money/img/blog/no-fee-business-account-new-llc/no-fee-business-account-new-llc-eligibility-rules.webp)

## The no-fee business accounts a new LLC can open differ on eligibility

| Account | Monthly fee | Minimums | Accepts a brand-new LLC | Non-resident owner | What it bundles beyond the account |
|---|---:|---|---|---|---|
| looch | $0, no monthly fee on looch accounts | None stated | Yes, any US-registered LLC or corporation can open a looch profile with an EIN and a qualifying US street address. A registered agent, virtual office, PO box, or commercial mail receiving agency (CMRA) address doesn’t qualify. | An SSN or ITIN isn’t required. The business needs a qualifying US street address. | Formation, Smartcards with spend controls, card acceptance, instant pay by bank, real-time accounting, and 1099 filing. |
| Mercury | $0/month on its free tier | No minimum balance | Yes, after the US entity is formed and has an EIN. | Confirm on Mercury’s eligibility page. | ACH and domestic wires are free to send and receive. |
| Relay | $0/month on Starter | No minimum balance | Yes, with an EIN, formation document, US business address, and business details. | Yes, with a US operating presence and a physical US address for each owner. | Multiple accounts and paid plans for additional account tools. |
| Novo | No monthly fee | Confirm on Novo’s site | Yes, for a US-registered business whose owner meets Novo’s residency requirements. | As looch’s [guide to accounts for a foreign-owned LLC](/blog/fintech-accounts-foreign-owned-llc) records from Novo’s help center, it requires owners to reside in the US and provide an SSN, a US residential address, and an active US cell phone number. | Confirm current bundled tools on Novo’s site. |
| Bluevine | No monthly fee on Standard | None stated | Yes, with an EIN confirmation letter and required business information. | International applicants need a valid passport and a legal address in the US. | Interest-bearing paid plans, standard ACH, same-day ACH, and wires. |
| Wise | One-time $31 set-up fee | Confirm on Wise’s site | Confirm on Wise’s eligibility page. | Confirm on Wise’s eligibility page. | Multi-currency business tools and international payments. |
| Brex | $0 per user per month on Essentials | No account minimums stated | Applicants need existing or planned operations in the US. | Confirm on Brex’s eligibility page. | Same-day ACH and domestic wires. |

Many account roundups include traditional accounts with waivable monthly fees under “no fee.” This table sticks to accounts whose base plan has no monthly fee, then shows what they charge instead.

## looch is a no-fee financial account, not a bank

looch is operated by Simplicity Fintech Inc. Account services are provided in partnership with Stripe, and funds are held at Fifth Third Bank N.A., Member FDIC. looch Smartcards are Visa Commercial Cards powered by Stripe and issued by Celtic Bank (source: looch.money).

[Eligible deposits receive FDIC pass-through insurance up to $250,000¹ per depositor](/smartcards). looch and its technology partners are not FDIC-insured institutions.

Mercury, Relay, Novo, and Bluevine provide account services through FDIC-insured institutions. Wise says it’s a Money Service Business registered with FinCEN, not an FDIC-insured bank. Brex distributes eligible funds through a sweep network that provides FDIC insurance eligibility up to [$6M](https://www.brex.com/product/business-account).

## The monthly fee is $0 almost everywhere. Eligibility is where new LLCs get turned away

### Non-resident owners face different rules

Relay accepts US-registered businesses owned by non-US residents when the business has a US operating presence. Its application requires each beneficial owner to provide a physical US address, identification, and information about the business’ income and operations.

As looch’s [guide to accounts for a foreign-owned LLC](/blog/fintech-accounts-foreign-owned-llc) records from Novo’s help center, Novo’s rule is narrower: It requires owners to reside in the US and provide an SSN, a US residential address, and an active US cell phone number.

Bluevine says international applicants need a valid passport and a legal US address. Mercury and Wise publish their own eligibility rules, which should be checked before applying.

For looch, residency isn’t the deciding criterion. Any US-registered LLC or corporation can open a looch profile with an EIN and a qualifying US street address. A registered agent, virtual office, PO box, or commercial mail receiving agency (CMRA) address doesn’t qualify. The [account requirements for a foreign-owned LLC](/blog/fintech-accounts-foreign-owned-llc) explain that distinction, while the [guide to opening a US business account without an SSN](/blog/us-business-bank-account-without-ssn) covers the documents founders should prepare.

### A registered agent address usually fails the address check

Relay requires a physical US business address and doesn’t accept a PO box. looch requires a qualifying US commercial or residential street address. A registered agent, virtual office, PO box, or commercial mail receiving agency (CMRA) address doesn’t qualify for a looch profile.

That distinction matters for a new Delaware LLC. Its registered agent address keeps the entity compliant with Delaware law, but it doesn’t establish where the company operates.

### Founders need the entity before most account applications begin

Relay asks an LLC for its EIN and Articles of Organization or Certificate of Formation. Mercury also requires a formed US entity and an EIN before the account application.

looch can start one step earlier. [looch Start costs $249 all-in](/start), including the state filing fee, EIN, and the first year of its virtual office. The registered agent and virtual office renew at [$249/year](/start) as the business protection bundle, which includes registered agent service, the virtual office, a business address that keeps the owner’s address off public records, with mail scanning, the state annual report filing, and weekly trademark monitoring. That virtual office address doesn’t replace the qualifying street address required for a looch profile.

Founders without an SSN or ITIN can still get an EIN through looch Start. When they have neither, the stated timeline is about [4 days](/start), and the official IRS CP-575 confirmation letter arrives in the app.

Simplicity Fintech Inc is not a law firm and does not provide legal advice. As part of looch Start, Simplicity Fintech Inc acts as a Third-Party Designee to facilitate the EIN application. EINs can be obtained directly from the IRS at no cost.

## A brand-new Delaware LLC needs three things before any of these accounts opens

![No fee business account for a new LLC checklist covering documents and address.](https://looch.money/img/blog/no-fee-business-account-new-llc/no-fee-business-account-new-llc-documents-checklist.webp)

### The stamped Certificate of Formation proves the LLC exists

Keep the approved Certificate of Formation returned after Delaware accepts the filing. Account providers use that document to verify the LLC’s legal name, formation state, and entity status.

The account decision shouldn’t drive the state decision by itself. Compare [Delaware and Wyoming LLC formation](/blog/delaware-llc-vs-wyoming-llc), and use the [LLC fee-change tracker](/blog/llc-fee-changes) for current state costs.

### The IRS EIN confirmation letter matters more than the SS-4 you sent

Bluevine asks for an EIN confirmation letter. Relay asks for the EIN and formation documents. Keep the IRS confirmation with the company’s permanent records because an application copy of Form SS-4 doesn’t prove that the IRS assigned the number.

When looch forms the entity, it delivers the IRS CP-575 confirmation letter in the app. Founders can also compare the EIN process for [US and non-resident founders](/blog/ein-us-vs-non-resident-founders).

### The operating address can’t be your Delaware registered agent

A founder outside Delaware may begin with only the registered agent address shown on the formation paperwork. That address doesn’t qualify for a looch profile, and Relay asks for a physical US business address rather than a PO box.

For looch, use a real US commercial or residential street address. A registered agent, virtual office, PO box, or commercial mail receiving agency (CMRA) address doesn’t qualify. The virtual office included with looch Start is for formation, registered agent service, and mail. It isn’t the profile address.

### The $400 annual tax is due on or before June 1st

[Delaware charges each LLC an annual tax of $400.00](https://corp.delaware.gov/alt-entitytaxinstructions). It’s due on or before June 1st, isn’t prorated, and a late payment carries a $200.00 penalty plus 1.5% interest per month on the tax and penalty.

Tax Stash helps a looch business set money aside for taxes throughout the year. Relay Starter provides [20 accounts per business](https://relayfi.com/pricing), which can support a similar envelope system for a Relay account holder.

For a Delaware LLC that already has its EIN and a qualifying US street address, looch combines no-fee accounts, Smartcards, payments, and accounting. Mercury or Relay can be a better fit when the entity is already formed and the founder wants a more specialized account product.

## No monthly fee doesn’t mean every transaction is free

| Account | Costs outside the base monthly fee |
|---|---|
| looch | Standard transfers to or from an external account are free. Instant transfers cost [1.5% with a minimum of 50¢ and maximum of $20](/pricing). An accounting-enrolled external account costs [$10/month](/pricing). Instant pay by bank costs [1% with a minimum of $1 and maximum of $10](/pricing). 1099 filing costs [$2 per filing](/pricing). |
| Mercury | International USD wires cost [$15](https://mercury.com/pricing) when the sender covers intermediary charges. |
| Relay | Grow costs [$30/month](https://relayfi.com/pricing), while Scale costs [$90/month](https://relayfi.com/pricing). |
| Bluevine | Same-day ACH costs up to [$10](https://www.bluevine.com/business-checking). Outgoing wires cost up to $15, and international payments cost up to $25 plus up to 1.5% for foreign currency conversion. |
| Wise | The set-up fee is $31, and receiving a USD wire costs [$6.11 per payment](https://wise.com/us/business/). |
| Brex | Premium costs [$12 per user per month](https://www.brex.com/pricing). |

## Someone else is the better fit when the account matters more than the full system

[Mercury can be the better fit](/compare/mercury) for a formed company that expects to hold a large raise or needs an account built around startup finance operations.

[Relay can be the better fit](/compare/relay) for a business that wants many named accounts and a Profit First-style cash system. Its Starter and Grow plans include 20 accounts per business, while Scale includes [50 accounts per business](https://relayfi.com/pricing).

Bluevine can be the better fit when earning interest is the priority. Its plans advertise APYs from [1.3% to 3.0%](https://www.bluevine.com/business-checking), subject to each plan’s conditions.

Wise can be the better fit for a business that receives, holds, and sends several currencies. [Brex can be the better fit](/compare/brex) for a funded company with a finance team. As looch’s [guide to accounts for a foreign-owned LLC](/blog/fintech-accounts-foreign-owned-llc) records from Novo’s help center, Novo can fit a US-resident owner with an SSN who wants straightforward free business checking.

looch is the stronger fit when formation, accounts, Smartcards, payments, and automatic books should work as one system. It’s iOS only today, so a founder who needs Android access should choose another provider.

## Questions founders ask

### Which US business bank accounts have no monthly fees for a new LLC?

looch accounts, Mercury’s free tier, Relay Starter, Bluevine Standard, Novo, and Brex Essentials have no monthly fee. Wise Business instead charges a one-time $31 set-up fee. The better filter is eligibility, especially the owner’s residency, the LLC’s operating address, and whether the entity and EIN already exist.

### Best business bank account for a brand new Delaware LLC?

The best account is the one that accepts the LLC’s Certificate of Formation, EIN, owner profile, and operating address. looch is a strong fit when the founder wants no-fee financial accounts, Smartcards, payments, and accounting in the same app, but a registered agent, virtual office, PO box, or commercial mail receiving agency (CMRA) address won’t qualify for a looch profile. Mercury or Relay may be better when the Delaware LLC is already formed and the founder wants a dedicated account product.

## Sources

- [looch pricing](https://looch.money/pricing), checked September 28th, 2026
- [looch Smartcards](https://looch.money/smartcards), checked September 28th, 2026
- [looch Start](https://looch.money/start), checked September 28th, 2026
- [looch account requirements for foreign-owned LLCs](https://looch.money/blog/fintech-accounts-foreign-owned-llc), checked September 28th, 2026
- [Mercury pricing](https://mercury.com/pricing), checked September 28th, 2026
- [Relay pricing](https://relayfi.com/pricing), checked September 28th, 2026
- [Relay LLC document requirements](https://relayfi.com/hc/en-us/articles/38049251551636-Required-Documents-to-Open-a-Relay-Account-by-Entity-Type), checked September 28th, 2026
- [Novo](https://www.novo.co/), checked September 28th, 2026
- [Bluevine business checking](https://www.bluevine.com/business-checking), checked September 28th, 2026
- [Wise Business pricing](https://wise.com/us/pricing/business), checked September 28th, 2026
- [Wise Business](https://wise.com/us/business/), checked September 28th, 2026
- [Brex pricing](https://www.brex.com/pricing), checked September 28th, 2026
- [Brex business account](https://www.brex.com/product/business-account), checked September 28th, 2026
- [Delaware alternative entity tax instructions](https://corp.delaware.gov/alt-entitytaxinstructions), checked September 28th, 2026