The complete package
Unlimited payments, deposits, & transfers
Fee-free ATM deposits and withdrawals
Government-insured FDIC bank account
Automatic tax withholding and payment
Smart automated savings
Fee-free salary transfers
Unlimited accounting reports
Next generation financial analysis and insights
The complete package
You pay just $1 from every $100 in self-employed
income you earn
You only pay fees when your clients pay into
your Lance bank account
For anyone earning over $100,000 in a financial year,
Lance 1% fee is capped at $1,000
We automatically claim your Lance fees for
you as a business expense!
Lance is the first smart business banking account for the self-employed. Lance automatically allocates personal income, tax withholding, business expenses and profit for individual businesses. With basic bookkeeping, entry level accounting and taxes done, self-employed workers now have everything they need to grow financially-compliant and stable businesses.
Of course. Lance is PCI DSS certified, the highest security standard in banking. Your deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 through The Bancorp Bank; Member FDIC.
Lance is optimized for the self-employed. If you're a freelancer, a side-hustler, or anyone who uses a 1099 form, Lance is your best option for a business bank account.
You have to be a US citizen to open a Lance account.
Your data security and privacy is Lance's top top priority. Some things we do to ensure your account safety include:- Requiring HTTPS on all pages, and use HSTS to ensure browsers only ever connect to us over a secure connection.- Employing a third party to perform penetration testing each year to check for vulnerabilities.- Storing passwords hashed with the bcrypt algorithm. We never store or log your plaintext password.- Using Time-based One Time Passwords for two-factor authentication. We never send authentication codes via insecure channels like SMS.- Encrypting our database and all uploaded images. We employ additional encryption for sensitive data, like social security numbers.- Never storing your debit card number.
Not yet. But you can email Lance's financial statements and data to your accountant as often as you wish. It's free.
Yes! We pay your quarterly IRS payments. To file your annual tax statement, however, you will need an accountant. (We don't have that superpower yet.)
Whether you're an Etsy shop owner, an Amazon seller, a content writer, wedding photographer, or fitness instructor -- anything you get paid for on a freelance basis counts as income.
You can and should. That's the best way to account for all your tax liabilities.
We've developed an algorithm that does exactly that, so you'll never have to worry about over- or under-saving for your taxes.
Yes! Just make sure to use your Lance debit card for all your business expenses.
You do! When you open an account, you get to determine what percentage of your income your salary will be, and how often you’d like to receive it (bi-weekly or monthly). We'll work with you to fine tune the best percentage.
It doesn't. We try to keep your salary as stable as possible, for your own mental well being.