Your first client wants to pay, or a payment service such as Mollie or PayPal asks for a business account when you sign up. That is when the question becomes concrete: which bank account suits your sole proprietorship (eenmanszaak), and how do you arrange it without delay? The answer depends on a few choices that are better made beforehand than halfway through an application.
Below you can read what applies to an account for a sole proprietorship, in whose name it is, what to look for when choosing and which steps and documents come with opening it. We also cover what to do if a bank says no and how to switch later.
In short:
- Private or business: according to the KVK, a business account is usually not mandatory for a sole proprietorship, but many banks do not allow business use of a personal account.
- In your own name: a sole proprietorship is not a legal entity. The account belongs to you as the owner.
- Comparing: the KVK names the monthly costs, a connection to bookkeeping software, the number of payment cards and how easy the customer service is to reach.
- Documents: a valid ID, your KVK number and, for payments abroad, a list of the countries you do business with.
- Checks: a bank is required by law to check who you are and what you do, and can refuse an application.
Private or business: what suits a sole proprietorship?
For a sole proprietorship account you have two options: use your personal account or open a separate business account. According to the KVK, a business account is usually not mandatory for a sole proprietorship, but do check your bank’s terms. Many banks do not allow business use of a personal account.
In practice, others have a say too. According to the KVK, payment services such as Mollie, PayPal, Stripe and Klarna ask for a business payment account, and the same goes for sales channels such as Amazon and Bol. So if you sell online, you often cannot avoid a business account. According to the KVK, with a sole proprietorship you can begin with your personal account and switch later.
In whose name is the account?
A sole proprietorship is not a separate legal entity. According to Ondernemersplein, you are the sole owner and you are liable with your own money for the debts of your business. You can also only have one sole proprietorship, although it may have several activities or trade names. That is why you are legally the holder of your sole proprietorship’s account yourself; there is no separate legal entity that could hold it. Even so, according to the KVK many entrepreneurs choose a business account, for the overview, easier bookkeeping and a professional image: clients then see your business name on a payment instead of your personal name.
With a bv or nv it is different: there, according to the KVK, a bank usually opens an account in the name of the legal entity. With a vof, maatschap or cv (partnerships), the account is in the name of the business, and according to the KVK the partners can also have joint authority. If you later move to a bv, an account in the bv’s name comes with it. For the sole proprietorship itself: the account separates your business money from your private money in your records, but legally everything remains yours.
Choosing a freelance account: what to look for
Freelancer (zzp’er) is not a legal form, Ondernemersplein writes, and according to the KVK most starting entrepreneurs begin with a sole proprietorship. A freelance account (zzp-rekening) is therefore simply a business account that suits a sole proprietorship. The KVK names four points to compare, and a few others are worth checking:
A freelance bank account does not have to do everything. If you only work in the Netherlands with a few regular clients, costs and the bookkeeping link weigh more than international payments. If you sell online, the connection to your payment service matters most. So list your needs first before you put providers side by side.
What a business account costs
Business accounts have different pricing models. Some providers charge a fixed amount per month, others per payment or per transaction, and payment cards, extra accounts or international payments can be priced separately. So look at what you do in an ordinary month, not just at the price on the front page. Ask for the full price list and check what happens if you make more payments than the plan includes. According to the KVK, you can usually deduct the costs of a business account as business expenses.
More than one account
According to the KVK, you may open several business accounts. That can be useful if you want to keep revenue and reserves apart, for example one account for day-to-day payments and one for VAT and income tax. The more accounts, the more important it is that they all end up in your records.
Opening a bank account for a sole proprietorship in 4 steps
Opening a business account for your sole proprietorship follows the same order, whichever provider you choose:
A bank asks for your KVK number when you apply. You register the sole proprietorship from a week before to a week after the start, and then get the number straight away. The registration fee is €85.15 (2026).
Have your ID, your KVK number and a short description of your activities ready. If you also pay outside the Netherlands, note the countries you do business with.
Choose a provider and a plan and fill in the application. With online providers this can be done fully digitally, with an identity check on your phone.
Put the new IBAN on your invoices, quotes and website, move recurring business payments and link the account to your bookkeeping.
Ideally, plan the application before your first invoice. Then the right IBAN is on it straight away and you do not have to ask clients to change your payment details a second time.
Which documents does the bank ask for?
Which documents you need differs per bank and per legal form. For a sole proprietorship, the KVK names a valid ID, your KVK number and, if you also use the account for foreign transactions, a list of the countries you do business with. Sometimes a bank also asks for an extract from the Business Register.
If you apply online, your ID is checked there too. The KVK advises making a secure copy and never simply handing over your ID. A bank can also ask questions about your activities, your clients and the expected payment traffic. Those questions are part of the statutory check a bank has to carry out.
If the bank refuses your application
According to the KVK, a bank has to check who you are and what you do. That check is required by law, to prevent money laundering and fraud. It can lead a bank to refuse an application, for example because of a higher risk, activities outside the bank’s policy or too little information.
A refusal is not the end. If you disagree with the decision, according to the KVK you first contact the bank. You can also try another bank or payment institution, or file a complaint with the bank that turned your application down. In any case, ask why the application did not go through; if information was missing, you can send it straight away with a new application.
Special situations
The KVK names a few situations in which opening an account raises more questions. If you are under 18 and have a business, according to the KVK there are three ways to open a business account. If you live abroad and have a business in the Netherlands, a Dutch business account is not mandatory according to the KVK, but banks usually want to see a KVK registration. And if you have shielded your visiting address in the Business Register, a bank can ask extra questions to establish whether there are risks. If that assessment is positive, you can usually still open a business account.
Which account documents belong in your records
A business account makes your records clearer, but it does not release you from keeping them. The Belastingdienst (Dutch Tax Administration) explicitly names bank statements as part of your records, alongside received invoices and copies of invoices sent, receipts, contracts and the software and files you keep your books in. The Belastingdienst must be able to see which income and expenses belong to your business.
Fixed retention periods apply. You keep basic records for seven years, and records on real estate and on the One Stop Shop for ten years. Also keep track of your hours: according to the Belastingdienst, some deductions for income tax, such as the self-employed deduction, depend on the number of hours you spend on your business.
Switching to another account later
If you started with your personal account or your current account no longer suits you, you can switch. Take your time: put the new IBAN on your invoices, let clients know your account number is changing and move regular debits such as subscriptions and insurance. According to Vivid’s FAQ, you should expect a transition period of four to eight weeks, so that incoming payments reliably arrive in the new account.
Keep the old account open until all payments have moved. And keep the statements: according to the KVK, bank statements of your business account are part of your records, which you have to keep for seven years.
An account for your sole proprietorship with Vivid
At Vivid you open a business account for your sole proprietorship fully online. According to Vivid’s FAQ, the self-employed and sole proprietors open the account in their own name, because legally there is no separate business. Otherwise it looks like this:
Even on a free plan, individual services can carry costs, for example extra cards, withdrawals above certain exempt amounts or premium features from higher plans. You can find all amounts on the plans page.
Vivid in short: a business account in your own name for your sole proprietorship, with Dutch IBANs, sub-accounts and invoicing in every plan. Read more at Vivid Business.
Give your sole proprietorship its own account
A business account with a Dutch IBAN, sub-accounts and invoicing, applied for online.
Frequently asked questions
Which bank account do you need for a sole proprietorship?
According to the KVK, a business account is usually not mandatory, but many banks forbid business use of a personal account and payment services such as Mollie or PayPal ask for a business account. If you use such a payment service or your bank forbids business use, you need a separate business account in practice.
Is a sole proprietorship’s account in your own name?
Yes, legally you are the account holder. A sole proprietorship is not a legal entity: you are the owner and liable with your own money. With a bv or nv, the account is in the name of the legal entity.
Can you have several business accounts?
Yes. According to the KVK, you may open several business accounts, for example to keep revenue and tax reserves apart.
Why can a bank refuse your application?
A bank is required by law to check who you are and what you do. With a higher risk, activities outside the bank’s policy or too little information, an application can be refused. You can then try another provider.
What do you compare in a freelance account?
The KVK names the monthly costs, a connection to bookkeeping software, the number of payment cards and how easy the customer service is to reach. Also look at extra accounts, invoicing and the connection to your payment service.
Are the costs of a business account deductible?
According to the KVK, you can usually deduct the costs of a business account as business expenses. They do have to be in your records, with the statements.
Can you open a business account as a minor?
Yes. If you are under 18 and have a business, according to the KVK there are three ways to open a business account. The KVK explains them on its website.
How long does switching to another account take?
According to Vivid’s FAQ, you should expect a transition period of four to eight weeks, so that incoming payments reliably arrive in the new account. Keep the old account open until then.
This article provides general information and is not legal or tax advice. The rules mentioned are as published by the KVK, Ondernemersplein and the Belastingdienst, and may change. Vivid’s payment services are provided by Vivid Money S.A., an electronic money institution authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg; its Dutch branch is registered with De Nederlandsche Bank (DNB) as an electronic money institution.
