Business account for associations and foundations

An informal association has no legal personality and therefore cannot open a business account in the association's name. Business accounts are reserved for formal associations with legal personality. An informal association cannot open a business account at a bank — the account is always linked to an individual.

In practice, the treasurer opens a standard personal account in their own name, with an addition such as "re: [association name]". This is typically free or costs a few euros per month, depending on your bank — similar to a second personal account.

That may sound straightforward, but there are drawbacks:

• The account is in the name of one person, not the association. This looks less professional to members and sponsors.
• When the treasurer changes, the account must be transferred or a new one opened.
• Giving multiple board members access is more cumbersome than with a fully-fledged business account.

Want to avoid this? A bank account tailored to associations requires registration with the Chamber of Commerce. By registering your informal association with the Chamber of Commerce — which is relatively straightforward and costs a one-time fee of €85.15 in 2026 — you become a formal association. You can then apply for a fully-fledged business account for associations, in the association's own name, with access for multiple board members.

For small, temporary clubs, a personal account in the treasurer's name is a workable solution. If your association is growing, or you regularly receive membership fees and donations, making the move to a formal registration and a proper business account is well worth it.

The single best account doesn't exist — it depends on how your foundation operates. That said, a few factors tend to make the biggest difference for foundations.

Transaction fees are often more important than the fixed monthly price. The cost per incoming transfer can add up quickly if you process a high volume of transactions. At Rabobank, for example, you pay €0.15 per incoming transfer — for foundations with many donors or members, that can become a significant expense.

Access for multiple board members is essential for foundations. When comparing association and foundation accounts, it's worth looking beyond the monthly price to the conditions around board changes and updates to signing authority.

Direct debit functionality is useful if you collect periodic contributions or donations via automatic payment.

The major traditional banks — Rabobank, ING, and ABN AMRO — all offer dedicated association and foundation packages with discounts on transaction fees. Knab does not offer a business account for associations or foundations. Fintechs like Qonto and GoDutch do accept foundations and offer online onboarding, multiple payment cards, and direct accounting integrations — useful if you want to keep administration as straightforward as possible.

Always compare total annual costs: fixed package fees, KYC compliance fees, and transaction fees based on your expected payment volume.

Whether your organization is already registered or still in the process of being set up, we have tailored offers for every stage of your journey. Whether you work alone or with a team, Qonto provides all the payment methods you need to run your organization in real time. Qonto is also the only business account that offers metal cards for professionals and supports incoming SWIFT transfers from abroad.

Qonto is much more than a current account — we support your day-to-day operations. With a range of options, tracking everyone's expenses and keeping your accounting up to date becomes far more manageable.

Dutch IBAN

A Dutch IBAN makes things easier for your customers and suppliers. No more issues with foreign IBAN checks: you pay and get paid the way you're used to.

Proprietary banking platform

Since 2019, we've operated our own banking platform (Core Banking System), which allows us to process our customers' transactions directly. This independence enables us to deliver the best possible experience and create products and services that make daily business life easier.

Transparent pricing for your business account

Our mission is built around the needs and expectations of entrepreneurs. Our customer support team responds quickly and attentively to answer your questions as thoroughly and promptly as possible. All Qonto pricing and offers are transparent. Opening a business account comes with no commitment. You can switch between plans at any time as your business needs evolve.

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For most banks, costs consist of two components: package fees and KYC compliance fees. The latter is charged separately by major banks for foundations and associations.

For the major traditional banks, the breakdown is roughly as follows:

Rabobank charges €5.30 per month for the business account, plus €3.50 per month for KYC compliance for associations and foundations — totaling approximately €8.80 per month excluding VAT.

ING offers an association and foundation package at €9.90 per month, with a 50% discount on payment transactions within SEPA countries in euros, up to a maximum of €75 per month.

ABN AMRO charges €6.50 per month for KYC compliance for associations and foundations after the first year, excluding 21% VAT, on top of the package fees.

On top of the fixed costs, all these banks charge transaction fees per transfer or incoming payment. Total monthly costs for association and foundation accounts currently range roughly between €9.90 and €28.00 per month, depending on the provider and usage.

Fintechs like Qonto or GoDutch operate on different pricing structures — sometimes with no separate KYC surcharge, but with variable transaction fees. Compare the full package based on your own payment patterns before making a decision.

Most charities in the Netherlands are set up as a foundation — which means, as a board member, you have the same options as any other foundation when it comes to banking. What sets a good account for a charity apart from a standard business account are a few specific needs: you receive donations from many different people, you work with volunteers who may need limited access, and as an ANBI-registered organization, you're required to be financially transparent.

What to look for when choosing:

Receiving donations via iDEAL and direct debit is the top priority for most charities. Check whether the account offers direct debit functionality and whether incoming iDEAL payments carry additional per-transaction fees — with many donors, those costs can add up quickly. Rabobank charges €0.15 per incoming transfer, which can become a significant expense if you process a high volume of incoming donations.

Access for multiple board members is equally essential. A clear setup of permissions prevents internal misunderstandings and supports financial oversight within the organization. Choose a provider that lets you assign separate rights per board member — useful if you want the treasurer to make payments independently, while larger expenditures require approval from two board members.

Transparency and oversight are mandatory for ANBI organizations. An account with strong export options and integration with your accounting software saves time when preparing your annual report.

The major traditional banks offer association and foundation packages with transaction discounts. The ING association and foundation package offers a 50% discount on payment transactions within SEPA countries in euros, up to a maximum of €75 per month — which can be attractive if you make a relatively high number of payments. Rabobank and ABN AMRO offer comparable packages. Not every provider accepts foundations and charities — Knab, for example, does not offer a business account for associations or foundations.

Compare the full picture based on your expected donation volume, the number of board members who need access, and the accounting integrations you use. For a small charity with few monthly transactions, a provider with no fixed costs is often more cost-effective. If you receive a high volume of small donations, a package with low or no per-transaction fees is the better choice.

Yes, you can open a business account for an association or foundation entirely online.

With Qonto, you set up your business account in a matter of minutes via your laptop or smartphone. The application process is fully digital — you upload your documents online and verify your identity securely through a quick verification step. No paperwork, no branch visit required.

Once approved, you get immediate access to your account with a Dutch IBAN, payment cards, and tools for invoicing and accounting. You can start receiving and making payments right away.

No, in the Netherlands you cannot open a business account without a Chamber of Commerce registration.

Banks are legally required to verify that your organization is registered with the Chamber of Commerce (KVK). Without a KVK number, they cannot verify your organization and a business account cannot be opened.

At Qonto, you can open a business account as a sole trader, BV, VOF, foundation, VVE, or association. Have a different legal structure? Contact us — we'd be happy to help.