Open a business account for sole proprietors online

How long does it take to open a Finom business account for sole proprietorships?

Opening a business account for sole proprietorships with Finom usually only takes 15 minutes. The entire process is completely digital and requires neither paper documents nor a visit to the bank.

After online registration and successful video identification, the account is set up immediately. In most cases, the German IBAN is available immediately afterwards so that the account can be used straight away.

What documents do I need to open a Finom business account for sole traders?

The following documents are required to open a Finom business account for sole traders:

• Valid ID (identity card or passport)
• Video identification to verify identity
• Trade license, which can be submitted within 90 or 180 days, but should not be older than 90 days
• Tax identification number, which must be submitted no later than 90 days after opening the account

The account can therefore also be opened without a trade license, provided that the required documents are submitted within the deadlines.

What are the advantages of a business account for sole proprietorships with Finom?

A business account with Finom offers sole traders a wide range of practical benefits and is specially tailored to the requirements of self-employed and freelancers:

• Account opening in just 15 minutes – completely online and without paperwork
• German IBAN – for professional payment processing with customers and partners
• Automatic accounting functions – including categorization, exports and connection to common accounting systems
• Invoicing directly from the account – saves time and provides a complete overview
• Multi-user access – ideal for collaboration with tax advisors or team members
• Free solo tariff – as well as other tariffs with a 30-day free trial period and discount for annual payment

Finom thus enables sole traders to get started with banking quickly, efficiently and professionally – with functions that are specially tailored to everyday business life.

Is it possible to open a business account for sole traders online with Finom?

Yes, at Finom sole traders can open their business account completely online – fast, paperless and without visiting a branch. It usually only takes 15 minutes to open an account.

The process includes:

• Digital registration with personal and business data
• Video identification to verify identity
• Immediate assignment of a German IBAN after successful verification

The account is ready for use immediately afterwards.

Does Finom offer a free business account for sole traders?

Yes, with the “Solo” tariff, Finom offers a permanently free business account specifically for sole traders, freelancers and the self-employed.

• The Solo tariff includes, among other things:
• Free business account opening
• German IBAN
• Basic banking functions
• Invoicing directly from the account
• Integration with accounting software
• Real-time transaction notifications

There are also fee-based tariffs with extended functions available for growing requirements – all start with a 30-day free trial period.

Does Finom offer a business account with integrated accounting for sole traders?

How secure is the Finom business account for sole traders?

Finom attaches great importance to security and uses state-of-the-art technologies such as Passkeys and 3D-Secure to secure every transaction. Linking the account to your smartphone and real-time push notifications provide additional protection against unauthorized activity.

The platform uses artificial intelligence and machine learning to protect your account from financial crime and credit card fraud. You have the option to customize security settings, including card blocks, your PIN, spending limits and access controls.

In addition to these technical security measures, Finom also implements legal regulatory measures. Finom Payments B.V. ensures that your money is kept safe. Although it is not a deposit account and no interest is paid, your money is protected by a security foundation supervised by DNB. This foundation manages customer funds securely and separately from Finom’s operational funds

What financial products does Finom offer in addition to the business account for sole traders?

In addition to the business account, Finom offers other financial products and services for sole traders:

• Visa Business debit card: Each business account includes at least one physical and one virtual Visa Business debit card that can be used for purchases and online transactions.
• Cashback program: Depending on the selected plan, users receive up to 3% cashback on card payments, providing additional savings.
• Integrated invoicing: Finom offers tools for creating and managing invoices that can track payment status and send automatic payment reminders.
• Multibanking: This feature allows users to manage multiple bank accounts on the Finom platform for a comprehensive overview of their finances.
• Accounting integrations: Finom supports integration with over 30 accounting and tax solutions, making financial management and tax returns easier.

These additional services make Finom a comprehensive solution for sole traders who want to organize their financial processes efficiently and digitally.