Business Banking for Moving Companies in Illinois
Free business checking with 1.75% APY, built-in accounting, and unlimited sub-accounts for moving companies in Illinois.
Starting a Moving Business in Illinois
Licensing
Illinois Commerce CommissionState Tax Rate
4.95% (flat rate)
LLC Filing Fee
$150 (LLC)
Major Markets
Chicago, Aurora, Naperville, Rockford
Key Requirements in Illinois
Best Banks for Moving Companies in Illinois
Compare Illinois's top business banking options for moving companies.
Holdings
$0/mo · 1.75% APYFree business checking with built-in AI accounting, unlimited sub-accounts, and FDIC insurance up to $3M. Available nationwide including Illinois.
Key Features
- •Free business checking
- •Built-in AI bookkeeping
- •Unlimited sub-accounts
- •1.75% APY on all balances
Pros
- ✓No fees, no minimums
- ✓Accounting included free
- ✓FDIC insured up to $3M
Cons
- ✗No physical branches
- ✗No cash deposit
Wintrust Bank
Regional bankBest for: moving companies in the Chicago metro area
Pros
Chicago-area focused, strong business banking, community-driven
Cons
Primarily Chicagoland
Byline Bank
Community bankBest for: moving companies seeking SBA loans
Pros
Illinois/Wisconsin presence, SBA preferred lender
Cons
Smaller branch network
Heartland Bank and Trust
Community bankBest for: moving companies in downstate Illinois
Pros
Central Illinois focus, relationship banking
Cons
Limited Chicago presence
Why Moving Companies in Illinois Choose Holdings
Free Business Checking
No monthly fees, no minimums, no hidden costs. Every dollar stays in your business.
Built-In AI Bookkeeping
Automatic transaction categorization, real-time P&L and balance sheet. No QuickBooks needed.
1.75% APY on Every Dollar
Your operating funds earn interest while they sit. No tiered rates, no caps.
Unlimited Sub-Accounts
Organize funds by job, project, or purpose. Track payroll, taxes, and expenses separately.
Moving Companies Banking in Illinois — FAQ
Do I need a license to start a moving company in Illinois?
Yes — Illinois requires moving companies to register with the state (often through the public utilities commission or transportation department) and obtain proper insurance. For interstate moves, you'll also need a USDOT number. Register your LLC ($150) as a first step.
What insurance do moving companies need in Illinois?
Moving companies in Illinois need general liability insurance, cargo/goods-in-transit insurance, commercial auto insurance for trucks, and workers' compensation. Customers' belongings are your responsibility during the move — adequate insurance coverage is critical.
Do moving companies in Illinois need a separate bank account?
Absolutely — moving companies deal with deposits, final payments, fuel costs, truck maintenance, and seasonal labor. A dedicated business account with AI bookkeeping tracks revenue per job and helps manage the seasonal cash flow swings common in the moving industry.
Thinking about switching banks?
Get the free switching checklist — every step, nothing forgotten.
Free PDF — no spam, unsubscribe anytime.
Ready to open your account?
Holdings offers free banking with 1.75% APY for moving companies in Illinois. Open your account in minutes.
Moving Companies in Other States
More Illinois Business Banking Guides
Explore banking guides for other industries in Illinois.