The number 1 online business account in Europe

The cost of a business account depends on the provider and the type of package you choose. Traditional banks often charge a fixed monthly fee of €5 to €15 per month, with additional costs for extras such as debit cards, international transfers, or direct debits.

Additionally, there may be transaction fees, for example, for deposits or withdrawals. Online alternatives like Qonto offer flexible packages that you can tailor to the size of your business and your needs, so you never pay for features you don't use. Compare not only the price but also the included features, such as integrations with your accounting software, real-time notifications, and user-friendly mobile banking apps.

If you are considering starting a business, you are usually required to open a business bank account. Why? To establish a company or corporation, it is sometimes necessary to make a capital deposit.

Online registration of your private limited company (bv) is possible from January 1, 2024. This can be done with a digital notarial deed. The notary drafts your articles of association and registers your bv with the Chamber of Commerce. You then need to make a capital deposit into an account owned by the company: the business account.

Depositing money into a business account

Since 2012, there are no longer any obligations regarding the amount of start-up capital; you can establish a bv with a capital deposit of just €0.01. However, it is important to deposit a realistic amount into the bv. Into the business account you open for that purpose. Without a deposit, you remain liable with your private assets.

You must follow these steps if it concerns a:

1. Public limited company (nv)
2. Private limited company (bv)
3. General partnership (vof)
4. Association (registered with the Chamber of Commerce)
   
   

In theory, companies have the right to close a business bank account and transfer the money to a regular bank account. This choice can create confusion with the tax authorities; transferred amounts can be seen as a reward and taxed as such.

Are there exceptions?

Yes, a sole proprietorship, self-employed persons, general partnerships, or freelancers are not required to open a business bank account intended for their activity.

According to the law, you are not required to open a business account with these business forms. Convenient? Yes! This is because a business account often offers additional services and customized payment methods that make the financial picture of your business clear.

A business account facilitates procedures around tax audits, asset management, and accounting for entrepreneurs. It ensures a clear separation between private activities and professional activities.

A foundation is not required to open a business account, but it is smart and professional. It is especially useful for:

1. Collecting donations
2. Payments with a bank card, such as a Mastercard or Visa
3. Obtaining subsidies

A business account helps you keep control of your business finances. All business income and expenses are separated from your private payments, which is not only convenient for your accounting, but also saves time and stress. Customers often see a payment to a business account as a sign of professionalism and reliability.

Moreover, many modern accounting programs and payment solutions use connections with business accounts, allowing your administration to be largely automated. Online providers like Qonto offer smart features such as sub-accounts, real-time transaction notifications, and digital receipt storage, allowing you to further automate your financial processes.

The time it takes to open a business account varies greatly by provider. With traditional banks, you often have to physically go to an office and bring documents, which can make the process take several days or even weeks.

Online banks and fintechs offer a much faster alternative. With a fully digital onboarding process, you can often apply within minutes and have access to your account within 24 hours, provided you have all the necessary documents such as a valid ID, Chamber of Commerce registration, and possibly your VAT number. This makes opening a business account online ideal for entrepreneurs who want to start quickly.

There is no limit to how much money you can have in your business account, whether you have a sole proprietorship or a private limited company. Your balance mainly depends on your company's income and expenses. Banks generally do not impose a maximum, but it may be wise to spread excess business reserves, for example, by saving or investing.

Also note that some banks charge fees for exceptionally high balances or apply negative interest. A business account is primarily there to manage your daily financial flows clearly and professionally.

No Dutch IBAN? No problem.

With Qonto, you get a European IBAN. And that's perfectly fine, even if you do business in the Netherlands.

Thanks to European SEPA legislation, you can open and use a bank account anywhere in Europe (within the SEPA area) without hassle. Dutch companies, customers, and authorities cannot refuse your foreign IBAN. This is called IBAN discrimination — and it is legally prohibited.

Many Dutch entrepreneurs already use a foreign IBAN, even for VAT returns, Chamber of Commerce registration, and tax payments.

What about the Tax Authorities and Chamber of Commerce?

Good news: a foreign IBAN is usually not a problem, not even for the Tax Authorities or the Chamber of Commerce. However, it is good to keep a few things in mind:

- Tax returns & payments: You can simply file VAT returns and pay taxes from your Qonto account. For refunds, the Tax Authorities sometimes ask for an extra check.

- Chamber of Commerce registration: You can register your company with a foreign IBAN, as long as you have a Dutch business address.

- Direct debits (SEPA direct debit): Some parties only accept NL-IBANs for direct debits. In that case, you can make payments manually — or ask the supplier for an alternative payment method.

In short: you're good with Qonto

Your IBAN may not be Dutch, but your account complies with all European regulations. And with Qonto, you get something extra: smart tools, real-time insight into your cash flow, and support ready to help you

Entrepreneurship without borders? Easily arranged.