Summary
Opening a business bank account in Germany is a key step in company formation. It separates private and business finances, ensuring transparency and compliance. For a GmbH or UG, it is mandatory to deposit the share capital into the account after the notary appointment. Required documents depend on the legal form and may include registration certificates and articles of association. Verification takes place through PostIdent or VideoIdent, and timelines vary depending on the bank and documentation quality.
Contents
Samar Fathulla | founder consultant
I’m here to help founders build strong, successful businesses. Let’s talk about your formation and find the best way forward together.
- 🌍 International founders
- 💬 500+ consults
- 🤝 Tailored advice
What exactly is a business account?
A business bank account 💬Geschäftskonto, is opened separately from your private account when starting a company. All business transactions are processed through this account. Depending on your company’s legal form, you may be required to deposit your share capital 💬Stammkapital into it. You can open a business account at a traditional branch bank or with a fully digital direct bank.
Who is required to open a business account?
A business account is mandatory for corporations such as a GmbH or a UG (haftungsbeschränkt).
Sole proprietorships, partnerships and liberal professionals 💬Freiberufler are not legally required to open one if they do not need special banking services. These services include participation in direct debit transactions, corporate loans and business credit cards, which is why business accounts are often more expensive than private accounts. Still, a separate account is recommended for all business activities to keep finances clearly organised.
If you plan to open an account as a non-resident, check whether additional legalisations or apostilles are required.
Why should I open a business account?
A dedicated business account helps you keep private and company finances separate. This makes accounting easier, improves transparency and avoids mistakes. Even if you are not legally required to open one, a separate account saves time when preparing tax returns and makes it easier to provide proof to the tax office 💬Finanzamt.
Bookkeeping also becomes more efficient: accountants and tax advisors can clearly identify business payments without having to sort through your private transactions. For partnerships and corporations, a business account also supports professional handling of shareholder deposits, salaries and joint expenses.
In short, a separate account ensures clarity, professionalism and smoother cooperation with banks, tax offices and business partners.
What should I look for in a business bank account?
Before opening a business account, compare the costs and services carefully. The following checklist highlights the key factors to review:
- Costs for account opening 💬Kontoeröffnung
- Fees for account management 💬Kontoführung
- Costs for individual transactions 💬Einzelbuchungen
- Interest on credit balances 💬Guthabenverzinsung
- Credit line 💬Kreditrahmen, including short-term availability and related fees
- ATM network coverage and access to third-party ATMs
- Fees for ATM withdrawals
- Costs for additional debit and credit cards
Here is a comparison of business bank accounts incl. features and costs.
What documents do I need to open a business account?
The documents required to open a business account in Germany depend on the legal form of your business. While all banks require proof of identity, additional documentation may be necessary for companies listed in the commercial register 💬Handelsregister or subject to licensing.
SCHUFA check required?
SCHUFA is Germany’s national credit information agency. It collects data on financial behaviour—such as loans, payment history, and contracts—and provides banks with a credit score to assess an applicant’s reliability.
Most modern direct banks do not allow overdrafts on basic business accounts, so SCHUFA information is usually not required when opening a company account. This means that founders with limited liquidity or a low credit score can still open a credit-only business account, a standard option offered by many banks.
However, if you plan to include an overdraft facility 💬Dispositionskredit, the bank will request a credit check via SCHUFA before approving your account.
📌 The requirement of a SCHUFA check depends on whether the account that is being opened has an overdraft service.
Business bank account vs. private account
There’s no fundamental difference in purpose between a business bank account and a private account—both are used to manage incoming and outgoing payments. However, the key distinction lies in the transaction fees.
Business accounts usually charge fees for every transaction, whether paper-based (such as bank transfers, cheques or cash deposits) or paperless (like online transfers, standing orders or direct debits). While these fees make business accounts more expensive, they offer professional payment options e.g., direct debits and instant bank transfers, giving customers greater payment flexibility.
📌 A business account differs from a private account mainly in its higher transaction fees. However, it enables direct debit and instant transfer options that make handling customer payments easier and more efficient.
Samar Fathulla | founder consultant
I’m here to help founders build strong, successful businesses. Let’s talk about your formation and find the best way forward together.
- 🌍 International founders
- 💬 500+ consults
- 🤝 Tailored advice
Joint account options: AND/OR?
If your company’s business account needs to be accessed by the CEO and one or more shareholders, you can set it up as a joint account. There are two options:
Can I use an existing account?
In theory, you can convert a private account into a business account, but this decision should be made carefully. Mixing private and business transactions can quickly lead to confusion, especially when payments made before starting the business appear in your records.
To keep your finances transparent and professional, it’s usually better to open a new account specifically designed for business use right from the start.
Do I open an account before or after the notary appointment?
You open the business account after the notary appointment.
Companies that must be entered in the commercial register, such as UG or GmbH, need a notarised certificate of incorporation first. This document must be presented to the bank when setting up the account.
Once the business account is opened, you must provide your notary with a deposit slip confirming that the share capital has been deposited. The notary will then certify this payment and forward it to the commercial register.
Who must be present at the bank appointment?
The managing director must always be present when opening a business account. Some banks also require the presence of all authorised representatives, but in most cases, the MD’s presence is sufficient. If there are shareholders or authorised signatories, make sure to bring the necessary powers of attorney.
Other shareholders or authorised signatories can only access the business account if they have explicit account power of attorney.
To avoid delays, check with your bank in advance to confirm who must attend the appointment.
Can I be represented as managing director at the account opening?
No. As the managing director you must attend the account opening in person. This allows the bank to verify your identity and signature.
If you open your account with a direct bank, you’ll need to complete the PostIdent or VideoIdent verification process yourself—representation by someone else is not permitted.
How long does it take to open a bank account?
The time depends on your bank and legal form. At a traditional bank, the process is often completed immediately, as all documents are checked on-site during your appointment.
With a direct bank, opening a business account usually takes up to two days, depending on how quickly your documents are verified. You can speed up the process by completing identification via PostIdent or VideoIdent, which makes verification fast and convenient.
PostIdent and VideoIdent
With the PostIdent and VideoIdent procedures, you can verify your identity remotely without visiting a bank branch. These methods are commonly used by direct banks or if you live abroad and cannot attend an appointment in person.
For the PostIdent procedure, simply visit a Deutsche Post branch with your ID document. A postal employee will confirm your identity on-site.
The VideoIdent process can be completed entirely from home using a smartphone or laptop with a webcam. During a short video call, you’ll show your ID document to a customer service agent who verifies your details in real time.
Checklist for corporations
Opening a business account at a branch bank
☑️ Bring all necessary documents: proof of identity, a certified certificate of incorporation, articles of association, and, if applicable, a shareholder list
☑️ The managing director must be present
☑️ Ideally, deposit the share capital
☑️ Request a deposit slip from the bank
☑️ Send the deposit slip to your notary
☑️ Submit the commercial register extract 💬Handelsregisterauszug to the bank to confirm your company’s registration is complete
Opening a business account at a direct bank
☑️ Scan and submit all required documents along with the application form
☑️ The managing director verifies their identity using PostIdent or VideoIdent
☑️ Deposit the share capital
☑️ Request a deposit slip as a confirmation of payment
☑️ Send the deposit slip to your notary
☑️ Submit the commercial register extract 💬Handelsregisterauszug to the bank to confirm your company’s registration is complete
Samar Fathulla | founder consultant
I’m here to help founders build strong, successful businesses. Let’s talk about your formation and find the best way forward together.
- 🌍 International founders
- 💬 500+ consults
- 🤝 Tailored advice
Final Thoughts
Setting up a business bank account provides financial clarity and ensures smooth cooperation with tax offices, accountants, and business partners. Compare fees and services carefully before deciding between traditional and digital banks. Have all required documents ready and attend the appointment personally to prevent delays. With proper preparation, opening a business bank account in Germany is a straightforward and legally secure process.
