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Open a business account for a KG online
Efficient business account for your KG – digital, modern and with a German IBAN
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Opening a business account for a KG: How it works
Is a limited partnership (KG) in Germany obliged to open a business account?
Is it possible to open a business account for a KG online with Finom?
What documents are required to open a KG business account?
Does a KG immediately receive a German IBAN when opening a business account with Finom?
What are the advantages of an online business account for a KG with Finom?
Are there business accounts for a KG without a SCHUFA check?
How long does it take to open a KG business account with Finom?
How much does it cost to open and maintain a business account for a KG with Finom?
Is a limited partnership (KG) in Germany obliged to open a business account?
Yes, a limited partnership (KG) is obliged to keep a separate business account. This is due to the fact that the KG is an independent legal entity with its own accounting obligations.
The use of private bank accounts for business transactions of a KG violates the principle of separation between private and company assets and can have legal and tax consequences.
Open accountIs it possible to open a business account for a KG online with Finom?
Yes, you can open a business account for a limited partnership (KG) online with Finom – completely digitally, without paperwork or a visit to a branch.What documents are required to open a KG business account?
The following documents are required to open a KG business account with Finom or another bank:
- Commercial register number → This number is essential for opening a business account.
- Information on the beneficial owners → Details of the persons who manage the limited partnership or benefit from it
- ID and video identification of the legal representatives →
- All legal representatives must verify their identity via Video-Ident.
- Each representative must present a valid identity card or passport.
- If there are more than two representatives, two of them can be selected for identification.
- Within 90/180 days of opening the business account:
- Tax number and tax identification number of all representatives
- If a legal entity acts as a representative, its tax number and VAT ID number are required instead.
If you open the account with a fintech provider such as Finom, the entire process takes place online without Postident.
Does a KG immediately receive a German IBAN when opening a business account with Finom?
Yes. A limited partnership (KG) usually receives a German IBAN within 24 hours of opening a business account with Finom, provided that all the required documents have been submitted correctly.What are the advantages of an online business account for a KG with Finom?
An online business account with Finom offers a limited partnership (KG) numerous advantages, especially through the digital processes and modern fintech functions:
- fast account opening → online registration in a few minutes and German IBAN within 24 hours
- favorable conditions → no hidden fees and different tariff models for different business requirements
- multiple users and cards → possibility to give multiple shareholders (general partners) access to the account
- integrated invoicing → creation and management of invoices directly in the account inside) access to the account
- integrated invoicing → Create and manage invoices directly in the account
- real-time banking → Instant notifications of transactions and full cost control
- SEPA direct debit and international payments → Ability to collect direct debits and make transfers worldwide
- integration with accounting software → Support for DATEV, Lexoffice and other automated accounting tools
- multi-banking function → Manage multiple bank accounts in one platform
A Finom account for a KG is therefore particularly beneficial for companies looking for a fast, digital and cost-efficient solution.
Are there business accounts for a KG without a SCHUFA check?
Yes, there are business accounts for a KG without a SCHUFA check, especially with fintech providers such as Finom.
Finom does not check SCHUFA entries, as it is a pure business account without a credit line or overdraft facility. The account is opened on the basis of the KG’s entry in the commercial register and the identity check of the partners.
How long does it take to open a KG business account with Finom?
Opening a business account for a limited partnership (KG) with Finom is completely online and usually takes up to 24 hours. The entire process is 100% digital – without any paperwork or Post-Ident procedures.
Here is the account opening process in detail:
- Online registration: Enter the basic company data via the online form
- Identity check: Video identification of the partners authorized to represent the company (usually the general partner or managing director of the KG).
- Commercial register query: Finom automatically accesses the German commercial register to retrieve existing information directly. Only missing or non-retrievable documents need to be uploaded manually.
- IBAN assignment and account activation: After successful verification, a German IBAN is assigned within 24 hours and the KG business account is activated.
How much does it cost to open and maintain a business account for a KG with Finom?
Opening a business account for a KG with Finom is free of charge. Finom offers various tariffs for account management:
- Solo: free, suitable for sole traders and freelancers
- Basic: €9 per month when paid annually (€108 per year) or €12 per month when paid monthly. Advanced features for growing businesses
- Smart: €19 per month when paid annually (€228 per year) or €23 per month when paid monthly. Additional tools and higher limits
- Pro: €119 per month when paid annually (€1,428 per year) or €149 per month when paid monthly. For larger companies with extended requirements
The benefits of all paid plans:
- 30-day free trial
- Discount for annual payment
Each plan offers different features. To find the best model for your company, it’s worth taking a look at our tariffs page.
A hassle-free business account for KG, local IBAN included.
An online business account for your KG needs. IBAN, cards, invoicing, deposit insurance, etc.
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Connect all your other online banking accounts to Finom. Access all your wallets, transactions, account statements, and tax assessments across several banks on a single platform. You can even delete those bank apps altogether
Control your spending flow
Use your business account to manage team expenses and enhance your financial planning
Finom pricing and plans
Subscription plans at a fair cost tailored to fit your business.
For freelancers who need simple, essential features
You save € 36
For individual entrepreneurs or small teams taking their first steps. Simple, essential tools to start and stay in control
You save € 48
For small to medium-sized businesses with straightforward needs. Flexible tools and higher limits for daily operations
Business account
Business account
Business account
Users included
1
Users included
2
Users included
Cashback
0%
Cashback
1%
Cashback
3%
AI Assistant
AI Assistant
AI Assistant
Chat support
Up to 1 business day
Chat support
Up to 3 hours
Chat support
Up to 3 minutes
Account Manager
Account Manager
Account Manager
Payment Solutions
Provided by Finom Payments/Solaris SE
Payment Solutions
Provided by Finom Payments/Solaris SE
Payment Solutions
Provided by Finom Payments/Solaris SE
Personal IBAN (unique account number for global transfers)
Personal IBAN (unique account number for global transfers)
Personal IBAN (unique account number for global transfers)
Free outgoing SEPA transfers
€2 500
Free outgoing SEPA transfers
€25 000
Free outgoing SEPA transfers
€50 000
Free VISA physical cards per user
0
Free VISA physical cards per user
1
Free VISA physical cards per user
3
Free VISA virtual cards per user
1
Free VISA virtual cards per user
3
Free VISA virtual cards per user
10
Outgoing international payments
1%
Outgoing international payments
0.50%
Outgoing international payments
0.40%
Role and user management
Role and user management
Role and user management
Scheduled payments
Scheduled payments
Scheduled payments
Bulk payments
Bulk payments
Bulk payments
You save € 36
For individual entrepreneurs or small teams taking their first steps. Simple, essential tools to start and stay in control
You save € 48
For small to medium-sized businesses with straightforward needs. Flexible tools and higher limits for daily operations
You save € 360
For small to medium-sized businesses ready to scale. The flexibility to grow with advanced features and higher limits
Business account
Business account
Business account
Users included
2
Users included
Users included
Cashback
1%
Cashback
3%
Cashback
unlimited cashback up to 0,5%
AI Assistant
AI Assistant
AI Assistant
Chat support
Up to 3 hours
Chat support
Up to 3 minutes
Chat support
Up to 3 minutes
Account Manager
Account Manager
Account Manager
Account Management team
Payment Solutions
Provided by Finom Payments/Solaris SE
Payment Solutions
Provided by Finom Payments/Solaris SE
Payment Solutions
Provided by Finom Payments/Solaris SE
Personal IBAN (unique account number for global transfers)
Personal IBAN (unique account number for global transfers)
Personal IBAN (unique account number for global transfers)
Free outgoing SEPA transfers
€25 000
Free outgoing SEPA transfers
€50 000
Free outgoing SEPA transfers
€100 000
Free VISA physical cards per user
1
Free VISA physical cards per user
3
Free VISA physical cards per user
3
Free VISA virtual cards per user
3
Free VISA virtual cards per user
10
Free VISA virtual cards per user
Outgoing international payments
0.50%
Outgoing international payments
0.40%
Outgoing international payments
0.20%
Role and user management
Role and user management
Role and user management
Scheduled payments
Scheduled payments
Scheduled payments
Bulk payments
Bulk payments
Bulk payments
You save € 360
For small to medium-sized businesses ready to scale. The flexibility to grow with advanced features and higher limits
You save € 1.080
For small to medium-sized businesses scaling at speed. Our most comprehensive package with concierge-level support and full customization
Business account
Business account
Users included
Users included
Cashback
unlimited cashback up to 0,5%
Cashback
unlimited cashback up to 1%
AI Assistant
AI Assistant
Chat support
Up to 3 minutes
Chat support
Up to 3 minutes
Account Manager
Account Management team
Account Manager
Dedicated Account Manager
Payment Solutions
Provided by Finom Payments/Solaris SE
Payment Solutions
Provided by Finom Payments/Solaris SE
Personal IBAN (unique account number for global transfers)
Personal IBAN (unique account number for global transfers)
Free outgoing SEPA transfers
€100 000
Free outgoing SEPA transfers
Free VISA physical cards per user
3
Free VISA physical cards per user
3
Free VISA virtual cards per user
Free VISA virtual cards per user
Outgoing international payments
0.20%
Outgoing international payments
0.10%
Role and user management
Role and user management
Scheduled payments
Scheduled payments
Bulk payments
Bulk payments
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FAQ
What is a KG business account?
A business account for a limited partnership (KG) is a bank account set up specifically for the financial transactions and management of the capital resources of a KG. It enables the separation of private and business assets, facilitates bookkeeping and supports efficiency in the financial management of the company.Can a limited partnership (KG) use a private current account as a business account?
No, a KG cannot use a private current account as a business account, as banks generally prohibit business transactions on private accounts. In addition, a KG is a company entered in the commercial register and is legally obliged to maintain a business bank account.Which of the partners can open a KG business account?
The business account of a limited partnership (KG) can only be opened by one of the partners authorized to represent the company. As a rule, this is the general partner, as he/she has full management and representation authority. Limited partners normally have no power of representation and cannot open the business account independently unless they have been authorized to do so by a power of attorney. If several general partners represent the KG, the business account can be opened by any of these partners.Can a KG have multiple business accounts?
Yes, a limited partnership (KG) can open several business accounts with different banks or fintech providers. There is no legal restriction on the number of business accounts a KG can have.
Reasons for multiple business accounts include:- Separation of business areas → for example, one account for daily payment transactions, another for reserves or investments
- Optimization of costs and functions → Use of different banks for better conditions such as favorable SEPA transfers or special credit card offers
- Security and risk diversification → If a bank has technical problems or introduces restrictions, an alternative account remains available.
- International business → Use of another account for foreign currencies or cross-border payments
A KG can therefore easily maintain several business accounts, but should define a clear account structure for accounting and tax reasons.
What happens to the KG business account when the KG is dissolved?
The business account of a KG remains active during the liquidation phase until all outstanding payments have been settled. After that, the account can either be closed manually or deactivated by the bank, Finom or another fintech provider.Open a business account for a limited partnership (KG) – how secure is Finom?
Your money is safe in a Finom business account. Finom sets the highest standards for the protection of customer funds, using state-of-the-art technology and strict legal requirements. You can find more information in the Finom Payments terms and conditions.
