Finance
Business Account for Self-Employed: Comparison & Tips 2025
Do you need a business account as self-employed? Which bank is best? Costs, features, and recommendations at a glance.
Business Account for Self-Employed: Comparison & Tips 2025
A separate business account makes your life as self-employed much easier. But which one is right? This guide helps you decide.
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Do I Even Need a Business Account?
Legal Situation
- Freelancers: No business account required
- Sole traders: No business account required
- GmbH/Ltd: Business account mandatory
Why You Should Have One Anyway
✅ Clear separation private/business ✅ Easier bookkeeping - all business transactions at a glance ✅ Professional impression with clients ✅ Tax audits - no discussions with the tax office ✅ Better overview of your finances
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What Does a Business Account Cost?
Cost Overview
| Cost Type | Typical Range |
|---|---|
| Monthly fee | €0-15/month |
| Transaction fee | €0-0.50/transaction |
| Card | €0-30/year |
| Cash deposit | 0-1.5% |
| Cash withdrawal | Often free |
Free vs. Premium
Free Accounts:
- Often transaction limits
- Limited support
- Fewer features
Premium Accounts:
- Unlimited transactions
- Personal contact person
- More cards, sub-accounts
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The Best Business Accounts 2025
For Beginners & Freelancers
| Bank | Monthly Fee | Special Feature |
|---|---|---|
| N26 Business | €0 | Simple app, cashback |
| Qonto | from €9 | Accounting integration |
| Kontist | €0 | Automatic tax reserve |
| Holvi | from €6 | Create invoices directly |
For Established Self-Employed
| Bank | Monthly Fee | Special Feature |
|---|---|---|
| Fyrst | from €0 | Deutsche Bank subsidiary |
| Commerzbank | from €10 | Branch network |
| Sparkasse | from €8 | Regional contact |
| Penta | from €9 | Multi-banking |
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Important Features
Must-Have
- [ ] SEPA transfers (free)
- [ ] Online banking / App
- [ ] Debit or credit card
- [ ] Standing orders
- [ ] DATEV export (for tax advisor)
Nice-to-Have
- [ ] Sub-accounts for tax reserves
- [ ] Accounting integration (lexoffice, sevDesk)
- [ ] Virtual cards
- [ ] Multi-user access
- [ ] API access
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Step by Step: Opening an Account
1. Prepare Documents
As Freelancer/Sole Proprietor:
- ID card
- Registration certificate (sometimes)
- Tax number
As GmbH/Ltd:
- Commercial register excerpt
- Articles of association
- Identification of directors
2. Apply for Account
- Online in 10-15 minutes
- Video ID or Post ID
- Sometimes credit check
3. Set Up Account
- Use IBAN for invoices
- Set up standing orders (rent, insurance)
- Connect accounting software
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Tax Reserve: How It Works
The Problem
As self-employed you must set aside taxes yourself:
- Income tax
- VAT (if VAT liable)
- Trade tax (if applicable)
The Solution
Option 1: Sub-Account
- 30-40% of each income to sub-account
- Don't touch until tax payment
Option 2: Automatic Reserve
- Kontist does this automatically
- Calculates tax on each income
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Avoid Common Mistakes
Mistake 1: Using Private Account
❌ Business payments from private account ✅ Separate consistently
Mistake 2: No Buffer
❌ Account always at zero ✅ 2-3 months expenses as buffer
Mistake 3: Wrong Account Choice
❌ Expensive account with unused features ✅ Choose account matching your usage
Mistake 4: No Tax Reserve
❌ Pay taxes from running money ✅ Set aside 30% with each income
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Checklist: Choosing a Business Account
- [ ] How many transactions do I have per month?
- [ ] Do I need cash deposits?
- [ ] Do I want accounting integration?
- [ ] Do I need multiple cards/users?
- [ ] Is personal support important to me?
- [ ] Do I need sub-accounts?
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Conclusion
- Separate private and business - even if not mandatory
- Choose based on your needs - not advertising
- Watch for hidden costs - transaction fees, cards
- Set aside taxes - automatically or manually
With Clever Invoice you keep track of all your income - perfect for your business account.
Frequently asked questions
Can I use my private account as a business account?
Yes, as a freelancer or sole proprietor this is allowed. But separation makes bookkeeping and tax audits much easier.
Which bank is best for self-employed?
It depends on your needs. For beginners, N26 Business or Kontist are good. Those needing branches choose Sparkasse or Commerzbank.
How much should I set aside for taxes?
As a rule of thumb: 30-40% of your income. More for high income, less for low. A tax advisor can tell you the exact amount.
Do I need a credit card for my business?
Not necessarily. A debit card is enough for most businesses. Credit cards are useful for foreign travel or if you need a credit line.
Can I switch my business account?
Yes, anytime. But inform all customers about the new IBAN and change the bank details on your invoices.