If you start a company in Germany or go self-employed as a freelancer, the topic of a business account will come up sooner or later. And for good reason: opening a business account is the basis for managing your finances professionally in Germany.
While private spending runs through a classic current account (Girokonto), a business account is tailored to the needs of self-employed people, freelancers, and small and medium-sized businesses (SMEs). It creates order, separates the private from the professional, and makes bookkeeping much easier.
In this article, we show you why a business account matters so much in Germany, who needs one, and how to open it step by step, without paperwork and legal jargon. Whether you are just starting out or already run a growing company, this guide helps you make the right decision.
What is a business account?
A business account is a dedicated bank account used solely for professional or commercial purposes. It is there to manage all business-relevant income and expenses separately from private payments.
How it differs from a personal account
Unlike a private current account (Girokonto), a business account is geared to the needs of self-employed people, companies, or associations. It offers functions that are indispensable in everyday professional life:
Many banks restrict the commercial use of a private account. So if you regularly issue invoices or make business expenses, you should definitely keep a separate business account.
Why is separation important?
Separating private and business finances is not just an organisational recommendation, in many cases it is also a legal necessity. It creates clear structures, minimises tax errors, and builds trust with clients, partners, and authorities.
A business account is therefore more than just an additional account, it is an important instrument for working professionally and enables growth.
Benefits of a business account
For many entrepreneurs and self-employed people, a separate business account is not only useful, it is a decisive step towards more efficiency, clarity, and professionalism in day-to-day finances.
Here is an overview of the main benefits of a business account:
A clear separation of private and business finances
When you handle business income and expenses through a separate account, your personal account stays free of business transactions, which keeps things organised and saves time on your tax return.
Open a business account now and use all the digital tools for your company.
A professional impression with clients and partners
A business account runs in your company’s name. That looks more trustworthy to clients, suppliers, or investors than having your private name on invoices and transfers.
Bookkeeping and taxes made easy
With a business account, you can track incoming and outgoing payments far more easily, an advantage when you do your own bookkeeping or have to hand data over to your tax adviser.
Many business accounts can also be connected to accounting tools such as Lexware Office, sevDesk, or DATEV. Often, team members and tax service providers can co-manage an account by setting up different profiles with limited access rights inside the same account.
Innovative providers of banking solutions are also introducing functions that let you delegate routine tasks to “digital assistants” and automate them as far as possible with the help of AI.
Better control over expenses and income
A separately created business account gives you a precise overview of your liquidity. You can see at a glance how much money is available, what has been set aside for taxes or savings goals, and how your cash flow is developing.
Meeting legal requirements (e.g. GmbH, UG)
For corporations, a business account is legally required in Germany. With a separate account, you meet this obligation and can act in a legally compliant way, for example when proving the share capital or setting up company powers of attorney.
Access to business-specific services
Many business accounts offer additional functions that go beyond the classic current account, for example:
In short: a business account is not a luxury but a tool that helps you save time, appear more professional, and keep your finances under control.
Who needs a business account in Germany?
In Germany, whether you are required to keep a business account depends on your legal form. While it is legally mandatory for some companies, for others it is optional, but still strongly recommended.
Mandatory for corporations
Under German law, corporations must keep a separate company account. These include:
For these company forms, a business account is required, for example to pay in the share capital or to keep day-to-day payments cleanly separated from private assets.
No legal obligation, but worth it
For partnerships and natural persons, there is no legal obligation to keep a business account. These include, among others:
Even though there is no legal obligation here, a separate business account is still highly recommended, especially to keep an overview for tax purposes.
Why startups and SMEs in particular benefit
For startups, freelancers, or growth-oriented companies in particular, a business account offers numerous practical benefits:
Which business account suits which company?
Business accounts are not one size fits all. Depending on company form, size, and requirements, the right models differ significantly. A business account serves quite different purposes for freelancers, small businesses, or established companies.
To help you make the right choice, we have put together typical profiles, including the matching functions and priorities:
Freelancers
The freelancer accounts that suit you best are flexible, low-maintenance, and cost-efficient, so your focus stays on your work, not on banking.
Simple & affordable: you do not need a wide range of functions, just a straightforward account with no hidden fees.
Online first: fast account opening, intuitive app handling, and ideally interfaces to accounting software.
Direct access: transfers should arrive quickly and be easy to manage, and income should be acceptable with various card types.
Sole proprietorships
Multiple cards & sub-accounts: practical for team management, business reserves, or different business areas.
SEPA-capable & easy to manage: payment processing and everyday transactions should run smoothly.
Solid basic functions: no overloaded packages, just sensible features at fair prices.
Small-business owners & small trades
Connection to accounting software & online services
Team access possible: even if you (still) work alone, a second access, for example for a tax adviser, can be helpful.
Payment functions & reporting: small businesses also need a reliable overview of their finances.
Small and medium-sized enterprises (SMEs)
Manage card and team access: distribute budgets easily and set permissions.
Multi-currency accounts & credit options: remove barriers to international growth.
Advanced accounting functions: various export formats, DATEV integration, transaction overview
GmbH & UG
Mandatory account: corporations must keep a separate business account.
Project separation & stakeholder control: ideal for shareholder teams or different budget areas.
Financial tools & reports: clear data and analyses for management, tax advisers, and authorities.
Tip: take a look at our detailed guide on UG or GmbH? A comparison of the legal forms, and which type of business account suits each one best.
GbR, OHG, KG & other partnerships
No obligation: opening one is still strongly recommended, as many banks restrict the use of private accounts for business purposes.
Multi-user access: include partners or co-founders for joint financial management.
Transparent management of shared finances.
Bottom line: whether you are looking for a suitable business account for freelancers, a UG, GmbH, or a GbR, the key is to choose an account that really fits your everyday work. Discover which business account currently suits your business best, with a clear table of fees, functions, and target groups.
Step by step: opening a business account
Opening a business account is easier today than ever, especially with digital providers. Even so, there are a few important steps and requirements you should know about.
1. Choose a provider
There are many different providers:
Tip: look out for criteria such as fees, digital functions, support quality, and extras like interest or sub-accounts.
Want to know which account really fits your company? Then take a look at our big comparison of the best business accounts on the German market. There we analyse current offers from traditional banks and digital providers, including features, costs, and independent reviews.
2. Check the requirements
Depending on your company form, different documents are needed to open a business account. Typical requirements:
| Company form | Required documents |
|---|---|
| Freelancers | ID document, proof of activity if applicable |
| Sole proprietorship | ID document, trade registration (Gewerbeanmeldung) |
| GbR / partnerships | Partnership agreement, trade registration, ID documents of all parties involved |
| GmbH / UG in formation | Articles of association, commercial register extract, ID documents of all parties involved |
| Existing GmbH / UG | Commercial register extract, list of shareholders, proof of management |
3. Apply for the account online
Most modern providers let you open the account entirely online. You enter your details in the app or web portal and are guided through the process step by step.
4. Complete identity verification
In Germany, verification of your identity is legally required. This is usually done via:
5. Activate and use the account
After successful verification, you receive:
With online providers, you can start using the new business account within a few minutes, sending payments, receiving invoices, and managing reserves.
Want to get started right away? Open your Vivid Business account in less than 10 minutes, completely without paperwork. Get started now →
A business account without Schufa, is that possible?
Not every company starts out with a flawless credit rating. Especially in the founding phase or after financial difficulties, a negative Schufa entry can become a challenge, particularly when opening a business account.
But there are solutions: some banks and fintechs now also offer a business account despite a Schufa entry.
How does a business account without a Schufa check work?
At many traditional banks, a Schufa enquiry is part of the standard process. It checks whether there are outstanding claims or payment defaults. If this check returns a positive result, the application is often rejected.
A business account without a Schufa check is usually a so-called basic account or a digital account without a credit line (no overdraft, no credit card). Since there is no risk for the bank, the credit assessment is often dropped entirely or greatly simplified.
Possible providers for business accounts without Schufa
Fintechs and neobanks: digital providers such as Vivid often rely on automated processes and skip the Schufa check for certain plan models.
Specialist providers: there are providers that specialise specifically in business accounts without a credit assessment, often with clearly defined functions.
Traditional branch banks: here, no Schufa information is obtained only in exceptional cases. For account types with credit functions in particular, it is usually mandatory.
What you should look out for on the topic of creditworthiness
Limited range of functions: without a credit assessment, you usually get no credit card, no overdraft, and sometimes no physical cards.
No guarantee of success: even with providers that do not run a classic Schufa enquiry, an application can be rejected, for example in the case of legally problematic company data.
Check the fees: some providers charge higher fees for accounts without a credit assessment, so a comparison is worthwhile.
A business account with Vivid Business
If you are looking for a modern, flexible, and powerful business account, Vivid Business is the right place for you. The platform is aimed specifically at founders and small to medium-sized companies, with features that simplify your everyday work and support your growth.
The benefits at a glance
Fast account opening
Completed entirely online in under 10 minutes, no paperwork, no waiting in line.
Free plan (Free Start)
Ideal for founders, freelancers, or those working on the side. Start with no monthly base fee and use all the basic functions.
Interest on deposits
Depending on your plan, you can earn up to 2% interest p.a., a genuine rarity in the area of business accounts.
Cashback on card payments
Depending on your plan, get up to 10% cashback on business expenses, for example for software, advertising, or office supplies.
Unlimited IBANs (Pockets)
Create your own sub-accounts for reserves, projects, or tax payments, directly in the app, each with its own IBAN.
Connections to accounting tools
Export your data for DATEV, book receipts, connect tools like Lexware Office or sevDesk, and save time on accounting.
Team functions & roles
Add more people (for example bookkeepers or assistants) without giving up full account management.
Open your Vivid Business account for free and secure interest, cashback, and as many IBANs as you need, directly via the app.
Please note: The legal and regulatory requirements described in this article apply to the German market as of June 2026. As this may change over time, make sure to check the latest information
Hinweis: Die in diesem Artikel beschriebenen rechtlichen und regulatorischen Angaben gelten für den deutschen Markt, Stand Juni 2026. Da diese sich von Zeit zu Zeit ändern können, prüfe bitte gegebenenfalls aktuelle Angaben
Frequently asked questions about business accounts
Is a free business account sufficient for small businesses?
Yes, a free business account is sufficient for many small businesses, as long as it covers the most important functions for everyday business life. Especially in the early phase, low fixed costs are the priority. For small businesses, solo self-employed people, or side businesses with manageable payment volumes, the following functions are usually enough:
- SEPA payments
- an individual IBAN in the company name
- digital account management via app or web
- simple accounting exports (e.g. DATEV-compatible)
- at least one business debit card
A paid plan usually only becomes worthwhile once the company grows and additional requirements, such as multiple team cards or a higher transaction volume, are needed.
What happens if, as a freelancer, I do not use a business account?
Legally, a business account is not mandatory for freelancers. In a worst-case scenario, however, your bank can close your private account if it becomes apparent that you are using it for business purposes. This is partly because banks, neobanks, and fintechs in Europe must follow strict anti-money-laundering requirements. A closure is usually announced to you in advance.
Which business account is suitable for startups in the founding phase?
For startups in the founding phase, a digital business account that can be opened quickly and does not cause high fixed costs is suitable. Compared with traditional banks, digital business accounts for startups often offer immediate (limited) use, for example to pay in share capital. Especially at the start, a clear separation of savings and project budgets is often necessary, which is why it is advisable to use a provider with an unlimited number of sub-accounts (ideally each with its own IBAN). Customer-oriented financial platforms today also increasingly combine banking with formation services for startups.
Are there business accounts without a Schufa check?
Yes, some digital providers make a business account despite a negative Schufa possible. These are usually accounts without a credit line, but with a sufficient range of functions for everyday business life.
Which business account is best for small businesses?
The business account that suits small businesses best depends on your requirements. Look for low base fees, digital management, accounting functions, and the ability to create multiple users or IBANs. For many small businesses, Vivid Business meets these criteria particularly well, as customers repeatedly praise the fast, smooth processes in reviews.
How do I open a business account in Germany?
Opening an account is usually done online in a few steps: choose a provider, enter your details, verify your identity, and get started within a few minutes. You can read the process in detail again above.
