Traditional business banking wasn’t built for solopreneurs. Minimum balances, per-transaction fees, and enterprise features create friction for one-person operations with variable income.
The fintech revolution changed this. Purpose-built platforms now serve freelancers, affiliate marketers, and self-employed individuals with features that actually matter: tax automation, multiple account allocation, and integrations with the tools you already use.
This guide compares four leading options with specific recommendations based on your primary pain point.
The Quick Answer
Choose Found if: Quarterly tax estimates stress you out. Found’s automatic tax withholding and Schedule C generation eliminate the guesswork.
Choose Relay if: You want to implement Profit First or need clear separation between multiple income streams. Up to 20 free checking accounts.
Choose Bluevine if: You want to earn interest on business reserves. 1.3-3.0% APY with straightforward requirements.
Choose Mercury if: You’re incorporated (LLC/Corp with EIN) and value AI-powered automation. Note: sole proprietorships without EIN are ineligible.
Found: Tax Automation for the Self-Employed
Found was engineered specifically for self-employed individuals with variable income streams. NerdWallet rates it “Best Banking for Self-Employed” for its unique approach to tax management.
How Found Solves the Tax Problem
The platform automatically categorizes every purchase you make, identifying tax-deductible expenses in real-time. When income arrives, Found calculates your estimated tax liability and can automatically set aside that amount in a “Tax Pocket”—a segregated portion of your account dedicated to quarterly payments.
This eliminates the most common solopreneur tax mistake: spending money earmarked for taxes because it sits in the same account as operating cash.
Pricing
| Plan | Cost | Key Features |
|---|---|---|
| Free Core | $0/month | Expense categorization, tax estimates, unlimited invoicing |
| Found Plus | $19.99/month | 1.5% APY up to $20K, pay taxes in-app |
| Found Pro | $80/month | Advanced features for larger operations |
What You Get (Free)
- Automatic expense categorization for tax deductions
- Real-time tax liability estimates updated with each transaction
- Schedule C generation at tax time
- Quarterly tax payment calculations
- Unlimited invoicing with custom templates
- Mastercard debit card plus virtual cards
- No transaction limits (unlike many business accounts)
- Manage up to 5 businesses from single login
- Contractor payment management including tax forms
What Requires Upgrade
- Earning interest (1.5% APY) requires Found Plus
- Paying taxes directly in-app requires Found Plus (Schedule C filers only)
Limitations
Found pays 0% interest on the free plan—a significant opportunity cost if you maintain cash reserves. The platform also lacks credit options or lending, multi-member LLC support, and has deposit/transfer limits that may constrain larger operations.
Best For
E-commerce sellers (Amazon, Etsy, eBay), gig workers (Lyft, Uber, DoorDash), freelance contractors who struggle with quarterly tax estimates, and anyone who wants banking and basic bookkeeping unified.
Relay: Profit First Implementation
Relay is the official banking platform for Profit First methodology—the cash management system where you allocate income to separate accounts for profit, taxes, owner pay, and operating expenses the moment it arrives.
The Multiple Account Advantage
The free Starter plan includes up to 20 separate checking accounts and 2 savings accounts. Create dedicated accounts for:
- Each major affiliate program’s income
- Tax withholding (25-30%)
- Operating expenses
- Profit allocation
- Emergency fund
This granular separation provides instant visibility into which income sources perform best and ensures you never accidentally spend money allocated elsewhere.
Automatic Allocation
Set percentage-based or dollar-based transfer rules to automatically distribute incoming funds. When an affiliate payment arrives, Relay can automatically send 30% to taxes, 10% to profit, and keep 60% for operations—no manual transfers required.
Pricing
| Plan | Cost | Accounts | APY | Key Features |
|---|---|---|---|---|
| Starter | Free | 20 checking, 2 savings | 1.03% | Basic banking, integrations |
| Grow | Contact | 20 checking, 2 savings | Higher | Bill pay automation, invoicing |
| Scale | $90/month | 50 checking, 2 savings | 3.03% | Cash flow forecasting, advanced features |
What You Get (Free)
- Up to 20 checking accounts for income/expense separation
- 2 savings accounts earning 1.03% APY
- Automatic percentage-based transfers
- QuickBooks and Xero integration
- No monthly fees, overdraft fees, or minimum balance requirements
- Mobile check deposit
- Bill pay
What Requires Upgrade
- First-party invoicing (create, send, collect) on Grow+
- Accounts payable tools with multi-step approval on Grow+
- Cash flow forecasting on Scale
- Higher APY (3.03%) on Scale
Limitations
Tax automation is basic compared to Found—you can create a tax account and fund it manually or with percentage transfers, but there’s no automatic Schedule C or quarterly estimate calculation. Advanced automation features require paid plans.
Best For
Anyone implementing Profit First methodology, solopreneurs with 3+ distinct income sources wanting clear allocation, affiliate marketers tracking performance by program, and anyone who thinks visually about money management.
Bluevine: Maximum Interest on Reserves
Bluevine strikes the strongest balance between earning potential and functionality. If you maintain cash reserves and want them working for you, Bluevine offers the highest no-cost interest rate available.
APY Structure
| Plan | Monthly Fee | APY | Balance Cap |
|---|---|---|---|
| Standard | Free | 1.3% | $250,000 |
| Plus | $30 (waivable) | 2.0% | $250,000 |
| Premier | $95 (waivable) | 3.0% | $3,000,000 |
The Eligibility Catch
To earn interest on the free Standard plan, you must meet one of these monthly requirements:
- Spend $500+ with Bluevine debit or credit cards, OR
- Receive/deposit $2,500+ in customer payments
Miss both requirements in a given month and your APY drops to 0% for that month. For most active solopreneurs receiving regular affiliate payments, the $2,500 deposit threshold is easily met.
What You Get (Free)
- 1.3% APY on balances up to $250,000 (with qualifying activity)
- FDIC insurance up to $3 million through partner banks
- 4% cash back on business purchases through Mastercard Easy Savings
- Credit lines up to $250,000 available (separate application)
- QuickBooks and Xero integration
- No monthly service fees, overdraft fees, or minimum balance
Fee Waiver Requirements (Plus/Premier)
To waive Plus plan’s $30 monthly fee: Maintain $20,000+ average daily balance AND spend $2,000+/month with Bluevine cards.
Limitations
Tax tools are basic (expense tracking but no automatic withholding or Schedule C). Multiple account organization isn’t as robust as Relay. The qualifying activity requirement for APY adds friction.
Best For
Solopreneurs with consistent $2,500+/month deposits wanting to earn on reserves, those anticipating growth who may need credit access, and anyone prioritizing APY over specialized features.
Mercury: AI-Powered (With Restrictions)
Mercury offers exceptional AI capabilities that genuinely reduce administrative burden—but comes with eligibility restrictions that disqualify many solopreneurs.
The Eligibility Problem
Mercury does not accept sole proprietorships without an EIN.
To open an account, you need:
- Employer Identification Number (EIN)
- Business formation as LLC, Corporation, or Partnership
- Formation documents (Articles of Incorporation)
If you operate as a sole proprietor using your Social Security Number, Mercury won’t approve your application. This restriction eliminates many freelancers and gig workers.
AI Features (Why It Matters)
For eligible businesses, Mercury’s automation is impressive:
- AI-powered bill pay reads invoices, auto-populates details, remembers recipients
- Auto-receipt matching attaches receipts to correct transactions automatically
- AI transaction categorization reduces manual bookkeeping
- Smart approval workflows for recurring payments
What You Get
- 2.5% Treasury APY on idle funds
- Unlimited 1.5% cashback on IO Mastercard
- AI bill pay and receipt matching
- Automatic transaction categorization
- No monthly fees or minimums
Limitations
Beyond the eligibility restriction: Mercury doesn’t handle physical cash well, doesn’t serve restricted industries (adult entertainment, cannabis, gambling), and can’t open accounts for trusts.
Best For
Incorporated solopreneurs (LLC or Corp with EIN) who value AI automation for bill pay and expense tracking. Not suitable for sole proprietors without business formation.
Head-to-Head Comparison
| Feature | Found | Relay | Bluevine | Mercury |
|---|---|---|---|---|
| Best For | Tax automation | Multiple accounts | High APY | AI automation |
| Free Plan | Yes | Yes | Yes | Yes |
| APY (Free) | 0% | 1.03% | 1.3%* | 2.5% |
| Tax Tools | Excellent | Basic | Basic | Basic |
| Multiple Accounts | Basic | 20 checking | Limited | Good |
| AI Features | Categorization | None | None | Advanced |
| Sole Prop Eligible | Yes | Yes | Yes | No (need EIN) |
| Invoicing | Unlimited free | Paid plans | Limited | No |
| Credit Access | No | No | Up to $250K | No |
*With qualifying activity
Decision Framework
Start with Found if:
- Quarterly tax estimates cause anxiety
- You want automatic tax withholding from each deposit
- Schedule C generation would save significant time
- You need unlimited free invoicing
- You don’t maintain large cash reserves (0% APY doesn’t hurt)
Start with Relay if:
- You want to implement Profit First methodology
- You have 3+ distinct income sources to track
- Visual account separation helps you manage money
- You value seeing exactly how much is allocated where
- You’ll connect external accounting software for taxes
Start with Bluevine if:
- You maintain $10,000+ in business reserves
- You consistently deposit $2,500+/month (for APY eligibility)
- Access to credit lines might be valuable
- Tax automation isn’t a priority
- You want the highest interest rate without fees
Start with Mercury if:
- You’re incorporated (LLC/Corp) with an EIN
- AI-powered bill pay and receipt matching appeals to you
- You pay multiple vendors/contractors regularly
- The 2.5% Treasury APY matters for reserves
- You won’t miss sole proprietor eligibility
The Bottom Line
For most solopreneurs struggling with quarterly taxes, Found delivers the most immediate value. The automatic tax withholding and Schedule C generation eliminate genuine pain points that other platforms don’t address.
If taxes aren’t your primary concern but cash flow visibility is, Relay’s 20-account structure provides organizational clarity that transforms how you think about business finances.
Bluevine makes sense when you’ve accumulated reserves and want them earning interest—the 1.3% free APY (with qualifying activity) represents real money on larger balances.
Mercury offers the most sophisticated automation but excludes the majority of solopreneurs without business formation. If you’re incorporated, it’s worth serious consideration.
The good news: all four offer free plans. Try your top choice for 30-60 days before committing. The switching costs are low, and you’ll quickly discover which features actually matter for your workflow.