Open A Business Bank Account In Germany

Germany, Europe’s largest economy, is an attractive destination for startups, SMEs, and multinational corporations alike. Whether you’re a European resident or a foreign entrepreneur expanding operations, opening a business bank account in Germany is one of the first critical steps toward establishing your presence. A dedicated business bank account not only ensures financial transparency but also builds trust with suppliers, customers, and German authorities. 

In this comprehensive guide, we’ll walk you through everything you need to know: from required documents and types of banks to a step-by-step account opening process. 

We’ll cover both traditional banks like Deutsche Bank and Commerzbank as well as modern neo-banks such as N26 and Solarisbank, ensuring you find a solution tailored to your business needs.

Why You Need a Business Bank Account in Germany?

Opening a business bank account in Germany is more than just a formality.

Here’s why it matters:

• Legal Requirement: If you’re incorporating a GmbH or UG, it is mandatory to deposit the share capital in a business account.
• Tax Compliance: All business income and VAT transactions should be traceable for proper tax filing.
• Financial Management: Helps monitor cash flow, manage invoices, and track expenses accurately.

Types of Business Bank Accounts in Germany

There are two broad categories of banks offering business accounts:

Traditional Banks:

• Deutsche Bank
• Commerzbank
• Sparkasse (Savings Bank)
• Volksbank/Raiffeisenbank

Online & Neo-Banks:

• N26
• Penta
• Solarisbank
• Kontist (for freelancers)

Each type has its advantages. Traditional banks offer physical branches, in-person support, and established trust. Neo-banks provide a fully digital experience, fast onboarding, lower fees, and integrations with modern financial tools.

Documents Needed to Set Up a Corporate Bank Account in Germany

While requirements vary slightly between banks, most will ask for:

• Passport or national ID of directors/shareholders
• Company formation documents (Articles of Association, GmbH/UG registration)
• Trade license (Gewerbeanmeldung)
• Tax identification number (Steuernummer)
• Proof of business address in Germany
• Business plan or company description (optional but useful)

Neo-banks like N26 and Penta may streamline this process, but still require full digital verification.

How to Open a Business Bank Account in Germany?

In order to set up a bank account for your German business, you must follow the steps mentioned below:

1. Choose the Right Bank

The first step to open a corporate bank account in Germany is to select the most appropriate bank. In order to do that you must compare fees, online banking options, integration with accounting tools. Additionally, you must decide between a traditional bank (in-person) or neo-bank (online).

Our business incorporation exports from OnDemand International can assist you in choosing the best bank for your business in Germany. 

2. Collect Necessary Documents

Make sure all your documents are updated and translated (if needed).

3. Schedule an Appointment or Apply Online

For traditional banks, book a meeting in advance. Some may need notarized or apostilled documents. 

4. Complete KYC (Know Your Customer)

Typically involves ID verification, video call, or uploading documents.

5. Deposit Share Capital (if applicable)

For GmbH/UG: Deposit the minimum share capital to activate your company registration.

6. Receive IBAN & Start Banking

Once approved, you’ll receive your German IBAN, bank cards, and access to online banking.

Opening a Business Bank Account as a Non-Resident

Germany welcomes non-resident entrepreneurs, but the process can be slightly more complex:

• Certain banks require you to visit a branch in person.
• You’ll likely need a local business address or virtual office.
• Neo-banks are generally more flexible and remote-friendly.

You can consult with our German business experts from OnDemand International to speed up the process, especially for documentation and appointments.

Best Business Bank Accounts in Germany (2025)

1. Deutsche Bank (Traditional)

One of Germany’s most reputable and established institutions. It offers strong English-language support, a wide network of branches, and professional services ideal for established businesses.

2. Commerzbank (Traditional)

Great for SMEs and retail-focused businesses. They often offer promotional deals such as free account management for the first six months.

3. Sparkasse (Traditional)

Renowned for its local presence and excellent service. Best suited for businesses operating within a specific region in Germany.

4. N26 Business (Neo-bank)

A mobile-first bank offering fast setup, low fees, and a clean user interface. Especially suitable for freelancers and solo entrepreneurs.

5. Penta (Neo-bank)

Focused on startups and SMEs, Penta offers multi-user access, smart expense categorization, and integration with accounting software.

6. Solarisbank (Neo-bank via partners)

A unique banking-as-a-service platform used by fintech companies. Great for startups that want to embed financial services in their offerings.

Costs Involved in Opening and Maintaining a Corporate Bank Account

• Account opening fee: Usually free with online banks; up to €100 for traditional banks.
• Monthly maintenance: €0 to €30 depending on services.
• Transaction fees: Some banks charge per transaction (esp. traditional banks).
• Card fees: Most banks provide a free debit card; credit cards may cost extra.

How OnDemand International Can Help?

Opening a business bank account in Germany can feel overwhelming, especially if you’re new to the country or running your business remotely. At OnDemand International, we assist entrepreneurs and companies worldwide in:

• Setting up businesses in Germany (GmbH, UG, sole proprietorship, etc.)
• Coordinating with banks (traditional and online)
• Securing tax IDs, local addresses, and office support
• End-to-end compliance and ongoing banking assistance

Looking to open your business bank account in Germany quickly and efficiently? Get in touch with us right away for a free consultation and let us guide you step by step.

Conclusion

Opening a business bank account in Germany isn’t just a bureaucratic requirement—it’s your gateway to the European market. It’s where your invoices get paid, your business gains credibility, and your growth story begins. Whether you prefer the human touch of a traditional bank or the digital edge of a neo-bank, Germany offers something for every entrepreneur.

As the financial hub of Europe, Germany demands clarity, compliance, and commitment—and a proper business bank account signals you’re ready to meet those standards. Don’t let paperwork slow your ambitions. Partner with experts who’ve navigated this path many times before.

At OnDemand International, we simplify every step so you can focus on what matters: building your business.