Bank Account for Self-Employed in Germany

As a self-employed individual, it is crucial to effectively manage your finances and maintain transparency with the tax office. Failing to do so can result in consequences. When reporting payment information to the tax office, it is important to distinguish between personal and business payments, which can be time-consuming.

Separating your personal and business finances is essential. Mixing them in a single account can create confusion and make it challenging to differentiate between the two in the future. By maintaining separate accounts, you not only enhance your chances of success as an entrepreneur but also ensure compliance with German financial regulations.

In summary, although it is not mandatory for self-employed individuals or freelancers to have a business account, I highly recommend getting one. Read our FAQ’s about German bank accounts for self employed!


Your Options

As a self-employed individual or freelancer, there is no legal obligation to open a separate business account. You have the option to either use your personal checking account for your business finances or open a dedicated business account to keep your personal and business finances separate. The choice is yours to make. Explore the respective provider by clicking on the logo. Read our FAQ’s about German bank accounts for self employed! .

Private Bank Account Germany

Business Accounts
Commerzbank

English service, excellent banking app & free cash at over 9000 ATMs in Germany

Private Bank Account Germany

Business Accounts
Qonto

A digital bank with English online banking. Send money in 10 secs with no extra fees

Private Bank Account Germany

Business Accounts
Postbank

A digital bank with English online banking, a free MasterCard & 500 free transactions per month

Private Bank Account Germany

Business Accounts
Deutsche Bank

English service, excellent banking app & free withdrawals in 60+ countries

Commerzbank

Commerzbank is a leading German financial institution supporting around 30,000 corporate customer organizations and more than 11 million private and business customers in over 40 countries.

Opening a business account at Commerzbank is simple and fast: you can enter your data, such as name, date of birth, and address, and directly enter your desired access data for online banking. After entering the data, you will already see your future account number (IBAN). Then you need to download the app, register, and that’s it.

Commerzbank advantages for your business

To open a bank account with Commerzbank, you must be registered in Germany and be at least 18 years old. Opening a bank account with Commerzbank has many advantages, which we would like to introduce to you:

  • English-speaking customer service in about 750 branches across Germany
  • Access to an English online and mobile banking 24/7, with an excellent banking app
  • Easy payment with your smartphone or smartwatch because (Google Pay/ Apple Pay are supported)
  • Free cash at over 9000 cash machines in Germany
  • Open account online in a few minutes

Classic Konto

ClassicKonto – Get-to-know offer

Current offer: the account is free for 7 months. After that it costs 12,90€/ month

Low-priced and reliable basic account – ideal for newcomers, self-employed persons, and legal entities.

Included for you:

  • free online banking
  • Digital banking via web, app, and phone
  • Commerzbank Girocard
  • 1 Commerzbank Girocard (debit card)
  • free paper-based transfers
  • Ten paperless payments per month
  • Account statements included
  • Account statements at the self-service terminal
  • Additional services can be booked individually

Founder Offer

Founder Offer

Current offer: 17,90€/month for 25th months. After that 29,90/month.

Discounted premium business accounts for companies in startups or younger than 3 years.

Included for you:

  • free online banking
  • Digital banking via web, app, and phone
  • Commerzbank Girocard
  • 1 Commerzbank Girocard (debit card)
  • free paperless transfers
  • 75 paperless payments per month
  • Account statements included
  • Account statements at the self-service terminal
  • Digital payment orders
  • Electronic banking services3
  • Business Card Premium included
  • 1 Business Card Premium4 (credit or debit card)
  • Free cash deposits & withdrawals
  • 10 cash deposits/cash withdrawals per month5
  • Additional services can be added individually.

Premium Business Account

Premium Business Account

Price: 29.90/ month

Comprehensive business account for established companies – with many services included for your daily transactions.

Included for you:

  • free online banking
  • Digital banking via web, app, and phone
  • Commerzbank Girocard
  • 1 Commerzbank Girocard (debit card)
  • free paperless transfers
  • 75 paperless payments per month
  • Account statements included
  • Account statements at the self-service terminal
  • Digital payment orders
  • Electronic banking services3
  • Business Card Premium included
  • 1 Business Card Premium4 (credit or debit card)
  • Free cash deposits & withdrawals
  • 10 cash deposits/cash withdrawals per month
What is N26

Qonto

Qonto is an online bank account designed specifically for business owners and small startups. With Qonto, entrepreneurs need to spend less time on banking and can focus on running their businesses. It takes only a few minutes to register a Qonto account.

  • Customer service in English
  • Online banking in English
  • Mobile app in English

Invoice-tracking special: Interestingly, business account holders at Penta can get their invoices tracked and automatically be compared so that you see which invoices have not been paid. It might be helpful for those who tend to forget to pay bills.

Qonto – Basic

Qonto – Basic

The essentials for managing your activity as a self-employed worker

  • 9 €/month (excl.VAT)
  • One month free of charge
  • Cancelable at any time
  • 1 member
  • 1 One card Business Mastercard included
  • 30 SEPA transfers and direct debits
  • Send money to your beneficiaries in just 10 seconds, with no extra fees compared to a normal SEPA transfer
  • 1% surcharge for international payments
  • 7-day-a-week support

Qonto- Smart

Qonto- Smart

A complete account to make banking, bookkeeping and invoicing simple

  • 19 €/month (excl.VAT)
  • One month free of charge
  • Cancelable at any time
  • 1 member
  • 1 One card Business Mastercard, and accountant access included
  • 60 SEPA transfers and direct debits and cashed checks
  • Bookkeeping Pack:Invoice processing, digital and certified receipts, VAT auto-detection, custom labels
  • Invocing Tool: Create and send customized invoices, monitor their payment status
  • Advanced features: Multiple accounts, bulk transfers, invoice-transaction matching
  • Send money to your beneficiaries in just 10 seconds, with no extra fees compared to a normal SEPA transfer
  • 1% surcharge for international payments
  • 7-day-a-week support

Qonto- Premium

Qonto- Premium

The plan that includes all our features plus priority support

  • 39 €/month (excl.VAT)
  • One month free of charge
  • Cancelable at any time
  • 1 member
  • 1 One card Business Mastercard, and accountant access included
  • 100 SEPA transfers and direct debits and cashed checks
  • Bookkeeping Pack:Invoice processing, digital and certified receipts, VAT auto-detection, custom labels
  • Invocing Tool: Create and send customized invoices, monitor their payment status
  • Advanced features: Multiple accounts, bulk transfers, invoice-transaction matching
  • Send money to your beneficiaries in just 10 seconds, with no extra fees compared to a normal SEPA transfer
  • 1% surcharge for international payments
  • 7-day-a-week support
What is N26

Holvi

Holvi is a user-friendly banking solution designed for freelancers, entrepreneurs, and small businesses. It offers a range of features and tools to simplify financial management and streamline business operations. With Holvi, users can easily manage their business finances, from invoicing and expense tracking to cash flow management. Transactions are automatically categorized for easy monitoring and analysis. The platform integrates with popular accounting software, making bookkeeping seamless and ensuring accurate financial records.

Holvi also provides a prepaid Mastercard for convenient payments and cash withdrawals. It is especially beneficial for freelancers, expats, and small business owners who want a modern and efficient banking solution tailored to their needs. By offering a comprehensive suite of features, Holvi empowers entrepreneurs to focus on their core business activities and achieve financial success.

Holvi advantages for your business

  • A business account with German IBAN
  • Up to 500 free transactions per month
  • Business Debit Mastercard – accepted worldwide
  • Banking in the browser, via app & real-time notifications
  • Income & expenses at a glance
  • Sales tax in real-time
  • Save receipts
  • Open online

Holvi Lite

Holvi Lite

  • 9 €/month
  • Business banking
  • Business debit card
  • Scan & store receipts
  • Real-time profit/loss
  • Real-time VAT balance

Holvi Pro

Holvi Pro

  • 15€/month
  • 3 business debit cards
  • Business credit card 
  • Unlimited invoicing & e-invoicing
  • Payment-to-invoice matching
  • Bookkeeping preparation
  • Export reports for tax filing
  • Accounting integrations – or invite your accountant
  • Cheaper ATM & FX fees
What is N26

Deutsche Bank

An essential base for your business is your stable corporate and business account. Because no two companies are alike, Deutsche Bank’s business account service mechanisms are designed to meet the specific needs of each business. A robust base system increases your transparency, openness, and convenience at competitive rates.

If you don’t speak German and wish to remain independent concerning your financial affairs, you should get a bank account at Deutsche Bank. It may be more costly, but they offer you all services in English – apart from the application form and mobile banking. Every Deutsche Bank branch has at least one team member that speaks English.

The customer hotline has English employees whose service you can request upon calling. They have branches worldwide, and Online banking is also available in English. And you can be sure it won’t go bankrupt – after all, it’s Deutsche Bank.

Deutsche Bank advantages for your business

  • Low-cost paperless bookings via online or mobile banking
  • Withdraw cash free of charge at over 50,000 ATMs worldwide
  • SEPA real-time transfer: send and receive the money within seconds
  • App with many digital features, such as multi banking function
  • Digital mailbox for your bank documents
  • Free account switching service

Basic Business Account

Basic for 12,90 Euro/month.

  • A basic model for low usage
  • One Deutsche Bank Card (debit card) included
  • SEPA real-time transfer for 0.35 euros
  • Paperless transactions 0,22 Euro per item

Classic Business Account

Classic for 19,90 Euro/month

  • Suitable for medium use
  • One BusinessCard (credit card)
  • including
  • Access to the electronic banking service
  • Paperless transactions 0.12 euros per item

Premium Business Account

Premium for 34,90 Euro/month

  • Suitable for customers with high usage
  • Two BusinessCards (credit cards) included
  • Additional sub-account without basic fee
  • Paperless transactions 0.07 euros per item
What is N26

FAQ – Open a German Bank Account for Self-Employed

Table of Contents

Why should I open a business account?

As a self-employed individual, opening a business account offers several benefits and advantages. Here are some reasons why it is recommended:

  1. Financial Management: A business account allows you to manage your business finances separately from your personal finances. This makes it easier to track income and expenses related to your business, ensuring accurate financial management and tax reporting.
  2. Transparency and Compliance: Keeping personal and business transactions separate helps maintain transparency and ensures compliance with tax regulations. By clearly distinguishing between personal and business payments, you can easily provide payment information to the tax office, saving you time and potential complications.
  3. Professionalism and Credibility: Having a dedicated business account demonstrates professionalism and enhances your credibility as a business owner. It gives a more organized and structured impression to clients, suppliers, and partners.
  4. Financial Planning and Growth: With a business account, you can better analyze your business’s financial performance, monitor cash flow, and plan for future growth. It provides a clear overview of your business’s financial health, helping you make informed decisions and achieve your entrepreneurial goals.
  5. Legal Compliance: If you have a registered corporation, such as a GmbH or AG, it is a legal requirement in Germany to maintain a separate business account. Adhering to this requirement ensures compliance with corporate governance regulations and avoids potential legal issues.

In summary, while opening a business account may not be mandatory for all self-employed individuals, it is highly recommended due to the advantages it offers in terms of financial management, compliance, professionalism, and growth potential. It simplifies your financial processes, helps separate personal and business funds, and contributes to your success as an entrepreneur.

Do I need a business bank account if I’m self-employed?

Having a business bank account is not a strict requirement for self-employed individuals. You can utilize your personal bank account for your business transactions. However, opting for a separate business account offers advantages in terms of financial organization and cash flow management. By keeping personal and business transactions separate, you can better track your finances and ensure clarity in your business operations.

Does German law require a business account?

According to German law, if your business is structured as a corporation such as GmbH, UG, AG, eG, KGaA, or eV, it is mandatory to maintain a dedicated business bank account. This means that you cannot manage the financial transactions of your corporation through your personal bank account. The requirement for a separate business account ensures proper financial management and accountability for corporate entities. By adhering to this legal requirement, you can maintain clear and transparent financial records for your business, ensuring compliance with German regulations.

Advantages of a Traditional Bank Branch:

A traditional branch bank refers to a physical bank with multiple brick-and-mortar locations where customers can visit in person to conduct their banking transactions. These banks offer face-to-face interactions with bank representatives, providing personalized advice and assistance. They typically have a wide range of financial products and services available, including business accounts for various legal forms. Traditional branch banks often have established relationships with local communities and may offer additional services such as financial grants and subsidies.

  • In-person advice and support.
  • Availability of corporate accounts for various legal forms.
  • Assistance in accessing financial grants and subsidies.

Advantages of a Direct Bank:

On the other hand, a direct bank operates solely online without physical branches. These banks provide their services digitally, allowing customers to manage their accounts and perform transactions through online platforms and mobile apps. Direct banks often emphasize convenience and innovation, offering user-friendly interfaces, efficient online banking experiences, and quick access to financial information. They may cater to a tech-savvy customer base and often provide services in multiple languages, including English. Direct banks are known for their streamlined processes and may offer competitive fees and rates due to lower overhead costs associated with operating physical branches.

  • Innovation and convenience.
  • English language services.
  • Clear separation between personal and business finances, facilitating tax returns and financial management.
  • Limited access to business funds by authorities like the tax office, ensuring privacy and control.