As you can read on the introduction page, there are almost no free business accounts in Germany.
A friend of us has programmed a calculation tool for comparing nationally active banks that offer good business accounts.
You can use the comparison tool to calculate your requirements. This way you can increase the chance that you opt for one of the better business accounts. Finally, one does not change a business account every day … find more notes below the comparison calculator.
Notes on the tool “Business Account Comparison “
Monthly cash receipt
There are some banks that only accept business customers who already have a developed business, or the account management fee is higher if, for example, the monthly cash receipt is less then Euros 500. This applies to the Deutsche Skatbank. Besides this, their account model does not include a monthly account management fee, but Euros 0.10 per revenue booking.
Average balance on the account
Paperless bookings (beleglose Buchungen)
This includes all orders to the bank that are submitted electronically (no paper forms). These are, for example, transfers using online banking or credit cards. Some bank bookings are free of charge. The stated data in the comparison takes place each month.
In contrast to the electronic processes, there are paper-based bookings, such as transfer forms. Note: There may be additional charges for submitting cheques, but not for the issuance of cheques, if you make them yourself and the payee redeems them. Then they are considered electronic bookings.
Selection of additional options
The additional options are almost self-explanatory. Do you need a bank card or should it even be a credit card? The background of the question is the calculation of fees, since there are regular fees for the issuance of such cards for business customers.
When setting the checkmark at “Only bank branch offices” (Nur Filialbanken), all online-only offers from the comparison are cancelled. Of course, you can also do online banking with the bank branch offices.
Type of company
Here, one distinguishes between:
- freelancers (Freiberufler)
- individual entrepreneurs (Einzelunternehmer)
- registered merchants (eingetragener Kaufmann – eK)
- private company (Gesellschaft des bürgerlichen Rechts – GbR)
- German limited liability companies GmbH, KGaA and AG (Kapitalgesellschaften)
- limited partnership (Kommanditgesellschaft – KG)
- English 1-pound corporation Limited (Ltd)
- general partnership (Offene Handelsgesellschaft – OHG)
- German 1-Euro-entrepreneurial company (Unternehmergesellschaft – UG)
- Other, including the foreign legal forms, like SRL or OOO.
The distinction is necessary, because not all banks offer business accounts for all economic systems. Unfortunately, foreign legal entities besides the English Limited have a hard time, unless you registered it additionally in Germany.
This question relates to the calculation of interest. Formerly, there were some banks that paid interest on balances of business accounts. Since the low-interest phase (Niedrigzinsphase) from 2011, this is hardly the case. Here it is advisable to open an additional call money account (Tagesgeldkonto).
Do you have questions or suggestions on our Business Account Comparison? Then, please use the comment box. You are welcome to share your experiences and recommendations that may be of interest for other entrepreneurs. Thank you for your involvement!