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Lance Review

Intuitive business accounts for the self-employed

Reviews 124
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Reviews 124
Michael Graw
Nov. 15, 2022
2 min read
Michael Graw
Lance Summary
Lance is built for freelancers & creative independents. Features include Checkout (advanced client payments), Stacks (for auto-budgeting), salary auto-pay, expense tracking & 1.5% cashback. Lance also calculates, saves and pays quarterly taxes for you. Get a Basic account (free) or a Pro account ($11.99/month). Both are FDIC-insured and track all your business spending, saving and cashflow. $0 account fees, minimums, ATM or overdraft fees.


  • Automatically pays your quarterly taxes
  • Free ATM withdrawals at 35K+ locations
  • Create up to 12 stacks (sub-accounts)


  • Only US citizens can open an account
  • $11.99 monthly fee to access all features of Lance Pro account

Lance at a glance

Editorial score


No fees


FDIC insured, SSL/AES encryption and supports 2 factor and biometric authentication

Customer service

24/7 service with multiple communication options, dedicated fraud team

Online experience

User friendly site with full online banking capabilities

Mobile experience

Excellent mobile app with all mobile banking features enabled, including digital check deposits

Lance Lance Visit Lance

Advantages Over Traditional Banks

Lance offers fee-free transfers between your business checking account and your personal account at another bank. You also get unlimited electronic transfers and other benefits specifically geared toward freelancers like Checkout, Stacks, and taxes on auto-pay. Lance accounts can be managed online or via a mobile app (iOS and Android), and the bank offers 24/7 customer support. 

Cutting-Edge Banking Services

Lance offers several features built specifically with freelancers and self-employed individuals in mind. You can split up your income into stacks for salary, expenses, savings, and any other categories you need. Your salary is automatically transferred to your personal bank account biweekly. Lance automatically distributes the rest of your income into your categories based on the priorities you set.

In addition, Lance uses an algorithm to calculate your quarterly taxes based on income coming into your account. Money is set aside from each deposit to cover your tax bill, and Lance automatically pays the IRS on your behalf each quarter.

Lance can also track your business expenses when you pay using the Lance debit card. The platform uses this information to estimate your deductions and remove them from your quarterly tax payments. You can also download detailed financial records from Lance at any time, which you can use to do your own taxes or send to your accountant.

Traditional Banking Services

Lance offers a Visa debit card with your business checking account. You can use any of the 35,000+ ATMs within Lance's network for free. Lance does not offer credit cards or business loans at this time.

Interest Rates and Fees

Lance business checking accounts do not offer interest. The debit card does offer cashback rewards of up to 1.5%. The Pro account carries a fee of $11.99 per month. There is no minimum deposit for your account.

Monthly FeeAPYMinimum DepositAdditional Fees
Lance Business Checking AccountBasic account - Free
Pro account - $11.99 per month

Customer Service 

Lance offers 24/7 customer service with in-app support, chat, or email. Lance has a dedicated fraud team.

Mobile App

The Lance app enables you to track your expenses, freeze and unfreeze your card, and adjust your Stacks settings. It also integrates with the Lance debit card to provide up-to-date information about your debit card purchases. You can also use the Lance app to scan and deposit checks or to create and send electronic payment requests to your customers. Lance’s app is available on iOS and Android.


Lance keeps your bank account safe through several layers of encryption. Your password and sensitive information like your social security number are stored using bcrypt encryption, and Lance never stores your debit card number. In addition, Lance uses two-factor authentication to prevent access to your account even if your password is stolen. 

Lance is FDIC-insured, so your funds are guaranteed up to $250,000.

Lance Lance Visit Lance


Lance is a feature-rich business banking platform designed to meet the special needs of freelancers and self-employed individuals. The platform enables you to pay yourself a salary, set aside money to pay quarterly taxes, and track your business expenses using the Lance debit card. In addition, Lance offers unlimited electronic transfers and reimburses you for ATM fees. A Lance account costs $12 per month and does not require a minimum deposit. The platform is FDIC-insured and offers 24/7 support.


This review was created using information from the Lance website.

Michael Graw
Written by
Michael Graw
Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
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