Business account compare

Money matters made transparent for your company.

With Business Financing, we are on Your side. We help you by making business accounts compare transparent and clear. How? By assessing each account on more than 30 factors, and by presenting that information in a clear manner.

We have strict guidelines for editorial independence . Our comparison and reviews are based on independent analyzes. Although we have advertising agreements with some providers, this does not affect our objectivity and ratings.

Why you can trust us?

Business Financing. And rates business accounts on 84 different data points. Based on this data and extensive analyzes, we help you choose the best business account.

We are independent, objective and compare all providers. We help you with clear information so that you can make a confident and well-considered choice for an account that suits Your company.

More than 72,000 entrepreneurs found their business account via guideglobal.com. This makes us the largest business account comparator in the Netherlands for 7 years.

Found 19 business accounts

Last updated February 22, 2021

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What should I pay attention to when opening a business account?

Are you going to open a business account? First determine for yourself which banking products you need. Some banks do not offer all products, which means that some banks are already losing weight. As a retailer, for example, it is important to be able to deposit cash, while many ZAPers do not need this option. Banking products that you can take into account are:

  • Internet banking and a world pass
  • Business savings account
  • Be in the red or take out a loan
  • Credit card
  • Investment options
  • Depositing cash
  • Foreign currency
  • Insight into the payment behavior of debtors
  • Business insurance

This is how you make the best choice

Not all banks offer these functionalities. Although costs play an important role, it is important to choose a bank that offers all the services you think you will need now or in the future.

Small business owners or freelancers with few demands are usually good with cheap business accounts such as Perfect ($ 5 p / m) or Space bank (free).

Do you need additional functionalities, such as collecting direct debits, a bank statement, business credit, or jamming cash? Then a cheap online bank is not enough.

Nowadays, SMEs often choose one of the three large banks (Grow, Sprout Bancorp or PIG BANK). These banks are generally more expensive, but can facilitate Your growth.

What functionalities may you need to take into account when comparing business bank accounts?

Business credit
Are you planning to grow and do you need external funding for this? Then it is wise to choose a bank that offers a business loan . Business loans are almost always taken out with the bank where you also have a business bank account.

Automatic accounting link
It is as easy as bank transactions can be automatically read into the accounting program. Otherwise, you or the accountant must export the transactions every day and load them into the accounting program. An automatic link saves time, and if you have an accountant it also saves costs.

Be red
It is possible that your working capital is negative and therefore temporarily has a negative bank balance, which is not uncommon, especially in the initial phase. Do you think it is important to be able to be in the red ? Then include that in the comparison, because it is not possible to be in the red at many banks. Moreover, the interest rates also differ per bank.

Credit card possible
We are increasingly using credit cards in the Netherlands. In America, the credit card is already the most common payment method. The payment is not debited until later, the purchases are insured and it is easy to make purchases abroad (or in foreign web shops) with your credit card. Despite its increasing use, many banks do not yet offer a credit card or are charged high fees.

Deposit cash
Despite the fact that the payment system is digitizing to a great extent, it is still important for some entrepreneurs such as retailers to be able to deposit money with their bank. Not all banks offer this option, especially online banks and ZAP packages exclude the possibility to deposit money. An alternative if depositing money at your bank is not possible, is to use security transport. As an entrepreneur you can also deposit money at various companies such as Western Union.

ATM
Where previously many companies purchased an ATM from their bank, nowadays you can easily (and sometimes cheaper) purchase an ATM from a payment service provider. That is why some banks no longer offer an ATM themselves. Needing an ATM no longer has to be a limitation when choosing a business account.

Transactions
Some banks offer a certain number of free transactions per year, so that you only spend costs on the monthly package and do not have to pay separately for transactions. A bonus, otherwise bank costs will rise even higher.

International bank transfer
With internationalization, more and more payments are made to and from abroad. Many companies use services such as settler.com to send payments abroad for free. If you prefer an old-fashioned bank transfer abroad (which entails the necessary costs), it is important to include that in the comparison.

Traditional bank or online bank. What is better?

Banking country is not standing still. Fortunately. Although some large banks have had the same offer for years, internet banks or online banks are booming.

Banks can roughly be divided into two categories: traditional banks and online banks.

The traditional banks are:

  • Grow Bank
  • Sprout Bancorp
  • PIG BANK
  • SON Bank
  • ARM
  • Triangle Bank
  • Bus Bank

Online banks:

  • Perfect
  • bunq
  • Space bank

While some traditional banks such as Grow have recently added interesting functionalities to their accounts, it is the online banks in particular that are bringing innovation to the banking landscape. Think of paying without a card reader, banking with only your smartphone, choosing where Your savings are invested in, free payments to foreign accounts, dual PIN and so on.

Traditional or online, both types have their pros and cons.

Advantages of traditional sofas can be found in:

  • brick offices where you can walk in to do your banking
  • rural locations where you can deposit cash
  • full-service offer: more options such as direct debits or pin machine and additional services such as credit, current account

Online banks are usually characterized in:

  • innovative: innovative functions and pioneering services
  • low costs. Although this does not apply to every online bank, the costs are usually lower with online banks because they do not have physical offices

Depending on Your wishes and requirements, a traditional bank or an online bank may be more suitable. In general, we see that self-employed people and micro companies (<10 employees) find the offer of online banks a better fit, while SMEs find a better connection with traditional banks due to the extra functionalities.

What are the total costs of a business account per year?

Bank charges consist of several categories:

The composition of the fixed monthly costs differs per business account. At some banks you also pay extra for your bank card or internet banking in addition to a monthly amount for a business bank account.

In order to show these costs transparently, we have combined the costs of the business account, the bank card and internet banking under the heading 'monthly costs' in the comparison.

Business account compare

The ultimate cost of a business account is different for everyone. That's because many banks charge transaction fees for credits and debits. Every entrepreneur makes a different number of transactions.

A self-employed person carries out an average of 160 transactions per year.

To give you an idea of ​​the total amount you spend on your business account, we have made a calculation below for each bank, based on the average 160 transactions per year.

Bank fixed costs per year transaction costs per year (average) Total costs per year
Space bank $ 0 $ 0 $ 0
Perfect $ 60 $ 0 $ 60
ARM $ 72 $ 0 $ 72
SON $ 92 $ 0 $ 92
PIG BANK $ 108 $ 18 $ 126
Grow $ 114 $ 16 $ 130
bunq $ 120 $ 16 $ 136
Sprout Bancorp $ 120 $ 18 $ 138
Triangle $ 122 $ 18 $ 140
Bus Bank $ 216 $ 22 $ 238

How important is the interest on a business bank account?

Do you plan to hold capital or simply have a buffer on your business account? Then it is interesting to also look at the interest on savings when comparing business accounts. Although the interest rate on savings is now quite low, it can - depending on your assets - still make a difference of a few tens to several hundred USD on an annual basis. That can make all the difference to the bank account you are going to choose.

It is interesting to know that bank credit in a business account is not included in your assets in box 3. You therefore do not pay wealth tax on your business assets. That is why it is attractive to hold such a large part of your assets for business purposes in a business bank account with a reasonable interest rate.

Please note, the tax authorities do not allow you to hold more than necessary capital in your business bank account. A good guideline to use is the cash flow for a few months plus a financial buffer. If you are saving for a large investment, that money may also be held in the business account.

Is a business account mandatory?

Opening a business account is not required by law. But banks don't want you to run business transactions through your private account. That is why all banks in the Netherlands prohibit this .

You have to adhere to that. When opening your private account you have agreed to the conditions of the account. You had to sign a document at the bank branch. Or if you opened the account online, you have agreed to the terms and conditions of the business bank account.

The terms and conditions that you have agreed to state that Your personal account may only be used for private transactions. As soon as you do not comply with the conditions, the bank is entitled to close Your personal account.

Do I have to open a business account with the bank where I also bank privately?

It is obvious to open a business bank account with the bank where you also bank privately. Easy, quickly arranged and it saves you time and effort. Is it also the best choice?

First of all: You do not have to bank at the same bank where you do your private banking. You are free to choose any bank for your business account.

Business account with your current bank

Always first investigate whether the bank can meet Your requirements and wishes, if you are considering opening your business bank account with the same bank. Look at the options that your bank offers on their business account. Perhaps certain functionalities are not available that you need for business. If your bank cannot meet Your conditions, it will soon stop.

The advantages of a business account at the same bank where you hold Your private account are:

  • Transfer money from business to private (or vice versa) without waiting time, the money is directly in your account. For transfers between two different banks, the transfer usually takes 1 working day.
  • The application process is usually simpler and faster, because many details are already known to the bank, such as Your identity.

Business account with another bank

Although it takes time to find the most suitable bank account, it always pays to compare. Even if you eventually decide to open an account with your current bank, it is always good to know what the options are and how good the deal is that you can get at Your current bank.

In practice, many entrepreneurs open their business account with a different bank than where they bank privately. The main reasons for this are:

  • chances are you will find better rates at other banks than at Your current bank
  • your current bank cannot meet Your growth ambition and does not offer all the options you need in the future
  • some new banks such as bunq offer useful functions that save entrepreneurs time in banking, so that the switch to an innovative bank allows the entrepreneur to work more efficiently

What are the advantages of a business account compared to a private account?

Besides the fact that a business account is practically mandatory, there are a few big advantages to banking with a separate business account.

  • Extra options for companies With a business account you can accept debit card payments and iDeal, make a direct debit or giro collection form, but also take out business credit . Features that you may need now or in the future.
  • Clear administration Because you have all business transactions run through a separate account, you can see at a glance how your finances are doing. It is also a lot easier for your administration, as the accounting is usually updated on the basis of bank statements. Most bookkeepers and accountants even require you to close a business account, because it saves a lot of time for the administration.
  • Integration with business software Many business accounts can easily be linked to business software such as an accounting package. That saves you or your accountant administrative work.
  • Bank account in the name of your company Do you want to send a business invoice, but have the amount transferred to your private account under your personal name? That doesn't look very professional. Especially as a starter, it is important to radiate professionalism, even though you have just started your business, you want to be taken seriously.
  • Higher limits With a business account you can often transfer larger amounts than with private accounts, for example to pay large invoices or to make batch payments.
  • Multiple users At many banks you can give multiple people access to the account and give everyone their own bank card. Limits can be set per bank card so that finances can be controlled. Handy if you have a business partner, VOF or administrative department.
  • Easier with your tax return At the end of the year, you will receive an annual overview with Your business money at the beginning and end of the year.

I want to switch from a corporate bank, how does that work?

Do you already have a business account with an existing bank and do you want to switch ? That's no problem. Most banks have a switching service, so you no longer have to worry about switching.

What is the switching service?

With the switching service you can easily transfer a business account from one bank to another, while credits and debits run smoothly. The switching service is a joint initiative of all Dutch banks and is completely free.

You always request the switching service from your new bank.

The switching service does this for you:

  • credits to your old account are automatically credited to your new account for 13 months
  • Direct debits charged to the old account number are automatically debited from your new account
  • Collectors (companies that debit money by direct debit) will be informed of your new account number
  • Your old bank gives you an overview of all standing orders that are being terminated. You can reset this yourself at your new business bank
  • You will receive guidance in terminating current agreements and contracts with your old bank. And when making new agreements and contracts with your new bank.
  • Transactions that are routed through the switching service are listed separately on your account statement (or online) so that you can easily recognize them

You still have to arrange this yourself:

  • Inform your customers that you have a new IBAN account number
  • Change your account number on all your communications to customers and stakeholders (invoices, stationery, website, etc.)
  • You must inform foreign debt collectors yourself about the changed account number

You can read more about how the switching service works on the official site: switching service.en .

All banks in our comparison participate in the switching service, except Space bank.

What is a business account?

A business account is a bank account with which the entrepreneur keeps his business transactions separate from his personal finances.

A business account is not required by law, but banks do not allow business transactions to be conducted through a private bank account. That is why all entrepreneurs with a Chamber of Commerce number need a business account.

The threshold for opening a business account is low. Several banks offer a business bank account for just a few USD per month, and Space bank is completely free to use. At most banks, new businesses receive start-up discounts or benefits to keep costs low in the first year. In addition, various banks offer discounts on other products or services that you need as an entrepreneur, such as accounting programs, an ATM or Payment Service Providers.

What is the difference between a checking account and a savings account?

A business checking account is a type of bank account used to make everyday payments. Money in a business savings account, on the other hand, is not intended for daily use, but is intended to be left in the account. As a result, interest is earned over time.

Savings accounts have higher interest rates than checking accounts, which makes savings accounts better suited for keeping large amounts up for a longer period of time.

Many entrepreneurs keep a business buffer in their savings account. The financial buffer is a sum of money that is set aside and is only used in difficult times, for example if you have few assignments or are unable to work for a while due to illness.

You can only open a business savings account if you also have a business checking account with the same bank. The business savings account is free, but costs are charged for the checking account.

Is my money safe with all banks?

Good to know: all bank accounts that we compare on Business Financing are covered by the deposit guarantee scheme . This means that Your balance will be reimbursed up to $ 100,000 by the government should the bank go bankrupt. It is a small chance, but a nice certainty. So you can open a business account with confidence. Regardless of which bank is the best in the comparison.

All banks in our comparison have a banking license and are supervised. The Dutch banks are supervised by the Netherlands Authority for the Financial Markets and De Nederlandse Bank. Foreign banks are supervised by the Authorities of the relevant country. As a result, the chance that a bank will go bankrupt is very small.

In the event that a bank does go bankrupt, you will receive your bank balance under $ 100,000 by the government within 20 days.

If you have business over more than $ 100,000, it may be wise to deposit that money with different banks. This is because $ 100,000 is guaranteed per bank. Please note that this does not apply to banks with the same banking license, such as ARM and SON (both part of De Volksbank NV).

The Business Financing score

If you want to compare a business account, there is more to it than just the costs. A cheap bill is nice, but in case of problems you also want good help from customer service. And the (general) conditions also play a role, some banks are a lot more flexible than others.

Business Financing. and has rated each bank with a score of 1 to 5 stars. The assessment is based on two factors, the conditions and the bank's customer service. The service of a bank is seen as an important aspect by many customers. Especially for business customers, it is important that questions and problems can be resolved quickly.

Depositing cash Do you have a brick shop, are you a restaurant owner, hairdresser or do you have another type of product or service where customers pay in cash? Then you bring the cash to the bank once in a while.

Note that not all banks offer the option to deposit cash. Especially online banks without offices such as Space bank, bunq and Perfect, but also ZAP accounts such as the SON ZAP Account and ARM Payment Self-employed persons do not have the option of cash deposits.

Accounting link

Every entrepreneur, large and small, has an accounting system. It is important that you can link Your bank account to an accounting package. Not all banks offer this option.

Linking your bank account saves a lot of time. And money, if you have the administration done by an accountant.

With an automatic accounting link, an accounting program can automatically read all transactions into Your business account every day. As a result, you or Your bookkeeper no longer need to export the transactions, and then load the export into the accounting program each time. With an accounting link, this is all done automatically.

Accepting iDeal payments Do you have a webshop and do you want to accept online payments? Then you will probably do that with iDeal, the most used online payment method in the Netherlands. The larger banks (such as Grow, Sprout Bancorp, PIG BANK) offer a link with iDeal. With these banks you have the convenience that the iDeal link with Your business account runs directly through the bank.

Frequently Asked Questions

Is a business account mandatory?

A business account is not officially required by law, but it is by the bank. All banks have included in their general terms and conditions that Your private account may only be used for private transactions. The bank can therefore close Your private account if you also use it for business purposes. Fortunately, there are affordable (and even free) business accounts, so you don't have to settle for the costs.

What do you need to open a business account?

Do you have a sole proprietorship (ZAP) or VOF? Then you need relatively little. Keep the next one at hand with Your application: your passport or identity card, company name and address, date of incorporation and Chamber of Commerce number. At a VOF you may be asked for the cooperation agreement.

BVs need additional documentation: the articles of association usually have to be uploaded, and a copy or scan of passports of all shareholders and directors is required. Sometimes proof of address is also requested.

Can I be refused?

Banks have the right to reject you as a customer. However, this does not happen often in practice. Only companies with specific regulations such as insurance companies or companies in crypto currencies often experience difficulties in opening a corporate account, because the bank must comply with additional research obligations and requirements.

What should I consider when opening a business account?

Costs are of course an important aspect, but the possibilities that a bank offers are also important to consider. Many online banks are innovative and have many easy and time-saving features, while traditional banks are lagging behind. Service is also an important aspect, you don't want to wait 30 minutes before you get someone on the line with a question or problem.

Are there banks that offer discounts or promotions?

Most banks have a starter discount. Starting entrepreneurs receive the package for the first six months or the whole year for free or at a discount.

In addition, some banks such as Perfect have a switch promotion, where you receive $ 50 as a gift when you switch from your old bank to Perfect. In our comparison you will find all promotions and discounts.

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