Compare business bank accounts

Price is often the main criterion when comparing business accounts online.

However, the rates offered by banks or fintechs can be deceptive - it's worth taking a close look and paying attention to any hidden costs (e.g. switching fees or turnover commissions). Otherwise, your subscription fees suddenly look a lot bigger.

This is especially true for accounts that appear free at first glance. All additional services usually cost money in these cases, so these corporate accounts often cost more than business accounts with higher basic fees.

Subscription offers with a transparent fixed price per month, on the other hand, can offer protection against unpleasant surprises. Here, too, entrepreneurs should pay close attention to the details.

Also ask yourself what services you use in the first place and compare the providers' fees and rate plans from this point of view.

This will ensure that you don't have to pay more money for corporate account functions that you ultimately don't use at all, and save many a euro.

Whether at a traditional bank or an online bank - a comparison of offers is useful for all entrepreneurs who are looking for the right business account for them.

It is worth looking not only at the money, but also at the service and benefits offered.

Some business accounts, especially those offered by fintechs, are impressive, for example, with integrated accounting functions and tools for paperless document management. Finances can also ideally be managed via an app - and thus anytime, anywhere.

Thanks to these digital banking solutions, a lot of time can be saved, time you can devote to your core business instead.

Other services offered by providers can include:

• Free credit card(s)
• Account opening quickly and without bureaucracy online
• Round-the-clock information service (for the tax advisor, accountant or tax office)
• Order or block a credit card at the click of a mouse
• German IBAN, subaccounts, digital expenses
• Push messages to smartphone with every booking
• Individual account access for employees and bookkeepers
• Deposit of share capital for corporations (e.g., limited liability companies) in the process of formation
• Free cash withdrawal

Providers can also perform other financial services that are of interest to many directors, such as insurance, loans, transactions, or invoicing.

Could your business use a loan? You can apply for a loan at traditional branch banks - even as a sole proprietor - although whether it is actually approved depends on many factors.

Providers such as fintechs generally do not grant a loan. However, some online providers enter into partnerships with financial companies, such as crowdlending platforms.

Partnerships can also play an important role in accounting, investing or paying.

Your need for liquidity can also influence your choice of business or checking account: Do you need overdraft authorization? How important are cash withdrawals?

Banks and providers now offer a wide range of business accounts.

You can use the following criteria as a guide when comparing business accounts:

Which bank offers the cheapest business account?

What services do banks offer for what fees? Which functions do you need - and to what extent? Accordingly, these services should not cause you high costs at your traditional or online bank (for example, bookings with or without vouchers). Some fintechs offer specific price plans for entrepreneurs that flexibly adapt to the development phases of your business. Also for sole proprietors and self-employed there are often tailored service packages at reasonable fees.

Important for interested founders, self-employed professionals and entrepreneurs is the transparency of the fees for account management. At Qonto, you can choose between three different plans starting at 9 euros per month, with no hidden fees. Up to 5 Mastercard credit cards and, within a certain limit, paperless bookings are included in the package.

Businesses in formation: Some banks and online providers target founders with a specific offer that includes the deposit of the share capital in the case of corporations - such as a GmbH.

Which bank is the best for a business account in terms of payment cards?

Is a free debit or credit card included in the offer? Can I withdraw cash? These are also important criteria when choosing a suitable provider. Our comparison table can help you with this.

Which corporate account offers the best customer support?

Customer service is another criterion when comparing the various business banking offers. How easily can you reach the support of the respective bank - and how quickly do you receive a response?

What additional services does the business account offer?

A business account often differs from a private checking account in terms of functions that are geared to the needs of companies. Therefore, pay attention to the range of services for financial management and accounting when you open an account for your business.

For example, Qonto lets you manage your finances quickly and easily via the app. In addition, Qonto offers digital accounting tools. Other pluses include simplified invoicing tools, real-time notifications, and custom tags.