The number 1 online business account in Europe

If you are considering starting a company, 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 since 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 starting 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 this 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, vof, 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 bank card
3. Obtaining subsidies

The Qonto business account is made by professionals, for professionals. Whatever your activities are, you will find an offer with accompanying services that suit your needs. The most innovative payment methods, such as configurable payment cards including insurance, real-time expense visualization, and a module for managing expense claims. With Qonto's online current account, you can monitor your expenses via your customer interface, wherever you are.

Experts in artisanal techniques, traders, construction professionals; with Qonto, you keep control over your finances, even when you're on the go. Spend less time managing your administrative tasks and focus on what matters: the growth of your business.

Want to know more?

Read our articles on this topic and discover how our 100% online business account offer seamlessly adapts to any profession, such as:

1. Consulting and mediation - Invite your employees to join you on Qonto to optimize expense management and prevent expense declarations. This can be done with the help of the virtual bank card and the digitization of your receipts.
2. Retail and e-commerce - Accept payments from your customers via a payment card using a mobile payment terminal.
3. Transport - Benefit from Mastercards that can be configured in real-time for your travel expenses and enjoy travel insurance and legal assistance for any type of payment card.
4. Construction activities - On a construction site or in the office, simplify the management of your company's finances and keep an overview of your expenses. Read more about the benefits of the Qonto business account for the construction sector. 

Are you looking for another bank where you want to open a business account? The reasons for this can be: more favorable rates, no hidden costs, services that better suit your company, good customer service, etc.

To avoid unpleasant surprises for your company, you will need to take the time to properly prepare the switch to another bank. Follow the steps below:

1. Research the offer, especially regarding transferable banking products, direct debit authorizations, periodic transfers to your business account

2. Review the cancellation conditions for products at your current bank

3. Open your new business account after comparing the different offers from banking institutions and the services they offer

4. Inform all your partners and suppliers about the change of your bank details5. Cancel your old business bank account. Because we understand that switching to another bank deters many companies, we have developed a bank switching service, especially for professionals.

To ensure an efficient and stress-free transition, one of our advisors will assist you free of charge in this process and support you at every important step:

1. Open your online Qonto business account
2. Determine which actions you need to take for your current bank account
3. Create a customized step-by-step plan
4. Activate a dashboard to monitor the process
5. Cancel your old business account.

To properly inform you before you decide to switch banks, we offer you our comprehensive guide for free, which consists of:

1. Reasons to evaluate your current bank
2. 4 simple steps to change business accounts
3. Script to control each phase of your bank switch
4. A test to ensure that it is better for your business to switch banks.

Is your company already registered or are you still in the process of setting it up? We have tailored offers for everyone for maximum service in the different life stages of your business. Whether you work alone or with a team, Qonto provides all the payment methods you need to run your business in real-time. Qonto is also the only business account that offers metal cards for professionals and allows the collection of SWIFT transfers (from abroad).

Qonto is much more than a current account; our bank facilitates your daily routine. Thanks to various options, it is much easier to keep track of everyone's expenses and update your accounting daily.

Own banking platform

Since 2019, we have been using our own banking platform (Core Banking System) which allows us to execute our customers' transactions ourselves. This independence enables us to offer our customers the best possible experience and directly create products and services that make their daily business life easier.

Transparent rates for business accounts

Our mission focuses on the needs of entrepreneurs and their expectations. Our customer service responds quickly and attentively to answer your questions as well and as quickly as possible. All rates and offers from Qonto are transparent. Opening a bank account is non-binding. You can switch from one account to another at any time if your business needs change.

600,000 business customers have already joined Qonto to simplify the management of their daily finances. When will you become a Qonto customer?

There are no transaction fees outside the payment of the monthly account fees.

In other words, if you do not perform more transactions or use services that are part of your plan, you only pay the monthly rate of your account.

Additional services for business accounts

If you order extra cards or perform additional transactions (more than provided in your package), you will be billed for these additional costs.

Read more about the costs of cards and additional services.

Transfers

With your Qonto account, you can receive transfers and send money worldwide in more than 18 foreign currencies via the SWIFT network. This feature is available in some of our plans. You can find all the associated details on our rates page.

Payments with your card

Our physical premium Qonto bank cards are the perfect travel companion. A reliable payment card that accompanies and ensures carefree travel, anywhere in the world. If you are a frequent traveler, we recommend ordering our Plus or X cards.

With the Plus card, you pay only 1% exchange commission on card payments outside the eurozone.

With the X card, all your payments abroad are made at the real exchange rate (without exchange rate commission), and your cash withdrawals are free of charge.

With these two bank cards, you also have a premium insurance that ensures you or your employees are well covered while traveling.

Opening a business account is generally free. However, many traditional banks and online banks charge monthly fees that can add up significantly.

This can include:

1. Management of the business account
2. Use of a credit card or debit card
3. Executing SEPA transfers, international transfers, and standing orders
4. Withdrawing money from ATMs
5. Access to additional products (e.g., accounting tools).

At Qonto, the rates are clear and transparent. Whether you are an entrepreneur, self-employed, or working in an SME, you will undoubtedly find a package that suits your activities.

Our plans (excluding VAT):

1. Basic package €9/month
2. Smart €19/month
3. Premium €39/month
4. Essential €49/month
5. Business €99/month
6. Enterprise €199/month

Custom business account for SMEs

Are you the owner of an SME? You can also choose a custom plan. All you need to do is contact our customer service to tell us exactly what you need for your daily business operations. And always without hidden costs.

In the Netherlands, all legal business forms can open a professional account with Qonto. These are:

1. Sole proprietorship
2. General partnership (vof)
3. Private limited company (BV)
4. Public limited company (NV)
5. Cooperative
6. Association or foundation

It is possible to open a business account for:

1. Associations registered with the Chamber of Commerce
2. Companies in formation

Note: Qonto refuses to open a business account for certain types of activities. This is the case for companies that:

1. Sell tobacco
2. Market medicines
3. Engage in insurance mediation
4. Are involved in illegal activities or sexual services.

Get started quickly with your business with Qonto

Do you have a bank blockade and cannot open a business, current account with a regular bank? Open an account with financial service providers like Qonto to quickly get started with your business. You avoid admission procedures for a basic account from, for example, ING or Rabobank.