Top 7 Best Online Banks for Joint Accounts

A team’s financial foundation can make or break its growth. Whether you’re a startup founder sharing expenses with your co-founder or a solopreneur collaborating with a virtual bookkeeper, managing money across multiple hands is no longer an option—it’s a necessity. But here’s the catch: not all banks are designed for collaboration. So how do you find the best online banks for joint accounts that are modern, secure, and tailored for dynamic business needs? In this post, we’ll uncover what truly makes a joint account powerful in 2024—and which seven banks are getting it right.

Why Joint Accounts Matter for Modern Teams

Collaboration is at the heart of today’s businesses—particularly for startups, small teams, and entrepreneurial partnerships. Yet many traditional banking systems still approach finance as a siloed responsibility. This is where joint bank accounts become essential, especially in the digital-first, remote-friendly era.

Shared Access = Shared Responsibility

Joint accounts allow multiple authorized users to access, manage, and monitor financial transactions. Whether it’s paying a vendor, reimbursing a team member, or checking the balance before a purchase, every decision-maker sees the complete picture. This transparency reduces financial miscommunications and builds trust among team members.

Streamlining Expense Management

Modern teams juggle a mix of recurring subscriptions, ad spending, contractor payments, and essential SaaS tools. Using a joint account ensures that these expenses are centralized. You avoid the chaos of transferring money between personal accounts, chasing down receipts, or relying on one founder to “own” the bank account.

Better Tax Prep and Auditing

Come tax season, joint accounts simplify preparation. All business transactions are bundled under a shared account, making it easier for accountants and tax professionals to sort through expenses—removing the pain of separating personal and business finances later on. For venture-backed startups or partnerships, joint accounts also enhance auditability, which is critical for maintaining investor trust.

Trust and Operational Efficiency

A joint account doesn’t just reflect financial cooperation—it enables it. It supports the unification of roles across finance, operations, and administration. Empowering a virtual assistant to pay invoices or giving your co-founder access to view cash flow isn’t just helpful—it’s necessary for efficiency.

To operate like the modern, agile team you envision, your banking setup must reflect that same agility. That’s why the best online banks for joint accounts are ones that adapt to teams—not the other way around.

Key Features to Look for in Online Banks

When selecting the best online banks for joint accounts, it’s crucial to look beyond flashy interfaces and zero-fee promises. Features matter—especially when your money, time, and team collaboration depend on it.

1. Multi-User Access and Permission Control

Look for banks that support multiple team members with customizable roles. Can you invite a co-founder, bookkeeper, or advisor and control what they see or can do (e.g., view-only vs. full access)? This is a must-have for financial security and team flexibility.

2. Real-Time Notifications and Transaction Tracking

Top-tier joint account banks offer real-time alerts for all incoming and outgoing transactions. This provides clarity and reduces fraud risk—especially when several people have spending authority.

3. Intuitive User Interface and Mobile Access

Your bank should be simple to use and mobile-optimized. You’ll want easy access wherever you are, whether you’re reviewing vendor payments from your laptop or approving a payout on your phone.

4. Seamless Integrations with Accounting Tools

Integration with tools like QuickBooks, Xero, or Expensify streamlines your workflow. Automatically syncing your transactions to your accounting software avoids manual data entry and errors.

5. Transparent Fee Structures

No hidden costs. You want to know exactly what you’re paying for—monthly fees, ATM usage, wire transfers, and overdrafts. The best online banks for joint accounts are upfront and fair about costs.

6. High-Level Security Features

Multi-factor authentication, biometric login, fraud detection, and FDIC insurance are table stakes. Prioritize banks that take cybersecurity seriously—especially when more than one person is using the account.

Choosing a joint account without evaluating these features can lead to costly mistakes or workflow bottlenecks. Make these core features part of your criteria before committing to a bank.

Top-Rated Joint Account Options for 2024

Ready to cut through the clutter? Here are seven of the best online banks for joint accounts in 2024—ideal for solopreneurs, startups, marketing agencies, and everything in between.

1. Mercury

Perfect for startups and tech-driven companies. Mercury offers multi-user access with granular permissions, seamless integrations, and no monthly fees. Their interface is sleek and minimal, and they support international payments—a major plus for remote teams.

2. Relay

Relay is built with collaboration in mind. Invite your accountant, assign user roles, and leverage detailed transaction approval workflows. It integrates smoothly with QuickBooks and Xero and is fully FDIC-insured through its partner banks.

3. Novo

Geared toward solopreneurs and digital businesses, Novo offers simple joint access, no monthly fees, and free ACH transfers. Its integrations with Stripe, PayPal, and Slack make it a great fit for eCommerce or service providers.

4. Bluevine

Bluevine stands out for its high-yield business checking account (up to 2.0% APY). Team access features are solid, and its low-fee model appeals to budget-conscious founders. It supports bill pay, making it easier to manage recurring expenses.

5. Lili (Pro Plan)

Designed for freelancers, Lili Pro includes expense tracking, multi-user capabilities (via shared account tools), and built-in tax savings functions. A great option for solo entrepreneurs who team up with bookkeepers or admin professionals.

6. Axos Bank

Axos offers solid small business checking with strong security. Joint account access and extensive features like check-writing, mobile deposit, and account analytics make it a reliable option for established teams.

7. NorthOne

NorthOne thrives in the SaaS and agency space. Its envelope budgeting system lets teams allocate funds for different purposes. While currently offering limited user roles, it’s rapidly evolving and has built-in integrations for payroll and QuickBooks.

These banks consistently rank among the best online banks for joint accounts because they understand what modern teams actually need: flexibility, transparency, and control. When evaluating your options, try demoing a couple to get a feel for what fits your workflow best.

Comparing Fees, Security, and Integrations

Knowing which features and banks are out there is helpful—but how do they compare where it counts? Here’s how the best online banks for joint accounts perform when it comes to cost, safety, and tool connectivity.

Fee Structures

• Mercury: No monthly fees, no account minimums, no domestic wire fees.
• Relay: Entirely free; even supports up to 20 checking accounts per business entity.
• Novo: Free with minimal fees for cash deposits handled through third-party retailers.
• Bluevine: No monthly fees, but some charges for outgoing wires apply.
• Lili: Free basic plan; Pro plan costs $9/month but includes added tools.
• Axos: Offers multiple tiers—basic account comes with no monthly fees and unlimited ATM fee reimbursements.
• NorthOne: Charges a flat $10/month, with all services bundled and no surprise fees.

Security and FDIC Coverage

Every bank listed above provides FDIC insurance—typically up to $250,000 per account owner. Most also include:

• Multi-factor authentication (MFA)
• End-to-end encryption
• Real-time fraud monitoring

Mercury, Relay, and Bluevine stand out for enterprise-grade security, while Lili and Novo offer strong protections at a freelancer-friendly budget.

Integration Capabilities

• Relay and Mercury: Best-in-class integrations with accounting platforms, including direct accountant access.
• NorthOne: Great SaaS tool integrations (e.g., Gusto, QuickBooks, Shopify).
• Novo: Strong eCommerce integrations—Stripe, PayPal, Slack.
• Lili: Built-in tax tools (Pro version) but limited third-party integrations.

If integrations and automation are vital to your workflow—as they should be for growing teams—these comparison details can help you quickly identify the best online banks for joint accounts aligned with your goals.

How to Choose the Right Bank for Your Business

Choosing the best online bank for joint accounts isn’t just about features—it’s about fit. Every business has unique needs, and the right solution aligns with how your team actually operates.

Step 1: Understand Your Team Structure

Are you a partnership, a founder with a virtual assistant, or a remote team of five? The number of users and the roles they play matter. Prioritize banks like Relay or Mercury for advanced permission controls.

Step 2: List Your Must-Have Tools

What tools power your business? QuickBooks? Stripe? Notion? Choose a bank that integrates directly with those platforms to minimize switching costs or duplicate tasks. NorthOne and Mercury shine here.

Step 3: Assess Your Cash Flow and Fee Tolerance

If you’re in early growth mode, high bank fees can chip away at profit. Novo, Relay, and Bluevine offer low- to no-cost solutions that don’t skimp on essentials.

Step 4: Think About Support and Scalability

Will your bank support you next year as you grow? Consider the scalability of features like additional accounts, automated payroll, or virtual cards. Mercury and Relay are well-known for supporting fast-growth startups and agencies alike.

Step 5: Try Before You Commit

While many online banks don’t require long commitments or setup fees, it’s worth testing their app or support chat. Navigation issues, outdated dashboards, or poor mobile UX can turn a great product into a frustrating one.

Ultimately, the best online banks for joint accounts are the ones that blend flexibility, control, and simplicity into one secure platform. Don’t just pick what’s popular—pick what’s aligned with how you run your business.

Conclusion

In today’s hyper-collaborative business landscape, banking isn’t just about where your money sits—it’s about how seamlessly your team can move, manage, and grow it. Joint accounts are no longer optional, and choosing the best online banks for joint accounts can spell the difference between smooth scaling and operational gridlock.

We’ve explored what makes joint accounts indispensable, the features modern teams must demand, and the top-ranked options that excel in 2024. From Mercury’s startup-friendly controls to Relay’s accountant-ready design, the options are not just varied—they’re powerful solutions built for your evolving needs.

So, take the leap. Evaluate your team structure, test a platform, and align your banking with your business goals. Because when your money works the way your team does, there’s no limit to what you can build together.

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