Viabuy itself would rather call this use as a business card with account function. The reason, why this is so and for which companies Viabuy is suitable as a business account or business card, you can find out in this article.
Viabuy as a business account is not ideal for everybody!
Upfront: This is what you get with the Viabuy order:
- embossed MasterCard on credit base
- German account number (DE-IBAN) for charging
- online access with account function (e.g. transfers)
- possibility to get issued partner cards
Link of the provider: https://www.viabuy.com
1. Details to the business use of Viabuy
Viabuy was developed as a prepaid credit card. The account functions were only gradually created with the spread of Viabuy (more than 1 million issued cards). Perhaps this area will be enlarged in the future.
1.1 Outgoing payments
This is the strength of Viabuy. You can make:
in Euro within the whole SEPA area. As many and as often as you want!
For transfers to the abroad outside the Euro-area, TransferWise would be the ideal supplement. TransferWise can also be used for business.
free card payments
Any card payment in Euro is free of charge. You can make as many payments as you wish.
Through partner cards, you can equip employees or individual projects with cards, through which e.g. travel expenses, plane tickets or even Google Adwords can be settled.
For payments in foreign currencies, a foreign transaction fee of currently 2.75 per cent applies.
1.2 Incoming payments
There are various possibilities for charging the card account. Among others, this is also possible through other credit cards (instant credit note), InstantTransfer up to the Paysafecard.
For businesses and companies, usually a German account number, the IBAN starting with “DE”, is the most interesting possibility, especially because transfers to the assigned DE-IBAN are credited for free!
There are a few peculiarities that one should know before the order!
1.2.1 Transfers from own accounts
On your Viabuy account, you can receive payments from accounts held in your name as often as you want. These will be credited immediately and free of charge.
1.2.2 Transfers from third-party accounts
With your Viabuy account, you can receive transfers from accounts of other account holders – also from abroad. However, there are some particularities to note:
Waiting period of 14 days
If a payment of a foreign account arrives, the amount will indeed appear immediately in the online banking system, but you can dispose of it only after the waiting period of 14 days.
This is an automatic feature that has proven itself for the prevention of illegal activities.
If you get another payment of the same “third-party” account, then it is no longer considered as “third-party”. Future payments will be credited immediately and are ready for immediate use.
Anyone who knows this fact, knows that Viabuy is also adequate for receiving regular income – for example, commission income or Google Adsense.
Five third-party accounts per quarter
The conversion of a “third-party” payment account into a “known” payment account automatically works five times per quarter. Thus, you can integrate 20 “third-party” accounts into your business operations annually. You should not receive more than five transfers from third-party accounts per quarter. That is enough for many business owners, who want to use Viabuy as a business account.
For others – for example, EBay sellers or Amazon merchants – this is an exclusion criterion. For these people as well as others, who expect a lot of different incoming payments, Viabuy is not the appropriate business account. For this purpose, please do not apply at Viabuy as a business account.
Whether Viabuy is appropriate for you as a business account or not, depends entirely on the number of payments that you want to receive from third-party accounts.
If you need a business account in Germany, with which you can receive many transfers from third-party accounts, then please take a look at the Onlinekonto by PayCenter. It is a little more expensive, but incoming payments are possible in an unlimited number.
2.1.3 Transfers from abroad
Please note that the Viabuy account is basically a Euro account (except Poland: there you can choose between an account in EUR and PLN).
It is recommendable that the received transfers are in Euros. Transfers in other currencies (e.g. USD, CHF, GBP, RUP) are automatically credited minus a conversion fee of 2.75 per cent.
You can receive payments from other countries (e.g. UK, USA, Canada) cheaper, if they are sent in Euros. Here, one can recommend the favourable transfer service TransferWise to the person sending the money.
Incoming TransferWise payments are for immediate disposal from the second incoming transfer without waiting period.
3. Account opening as a company
If you are a self-employed person, freelancer, side-line worker or associate of a person-company, please use this link to open an account: https://www.viabuy.com.
The same applies to private clients. That makes no difference at Viabuy.
If you prefer to open Viabuy on behalf of an entity, such as a GmbH or a Limited, it is advisable to create a personal account first in order to test the functionality.
Recommendation: Open a private test account first!
If your tests with Viabuy were completed successful, then it is worth the effort to apply for the account opening on the company name. This currently does not work online. One has to fill a PDF form and, depending on the legal form and registered seat of the company as well as of the authorized persons, documents must be submitted.
Additionally, it is necessary to proof that the company already has an account held on its name with another bank within Germany or abroad.
There will soon be a separate article about this subject.
Link of the provider: https://www.viabuy.com
Questions on the use as a business account?
Please use the comments box for your questions about the business use of Viabuy or questions about the account opening.
My team and I are regular customers of Viabuy and gladly help smart bank customers to open accounts and to use the MasterCard and its account functions.