Open a business account for startups online

What documents are required to open a business account for a start-up with Finom?

The documents required depend on the legal form. Basically, you need the following:

• For registered companies such as GmbH or UG: Commercial register number, ID and video ID of the representatives and details of beneficial owners. Within 90/180 days: Tax ID and tax number
• For companies in formation such as UG i.G.: Formation documents and ID/video ID. Subsequently: Commercial register number and tax data.
• For freelancers and sole traders: ID and, if applicable, the trade license. The tax ID can be submitted later.
• For GbR: articles of association, trade license and ID/video ID of all partners. Later: tax data.

In exceptional cases, Finom may request additional documents.

What functions should a good business account for start-ups have – and does Finom offer them?

A good business account for start-ups should be quick to set up, flexible to use and equipped with smart tools. This is exactly what Finom offers – and much more:

• Quick online opening: You can get started in just a few minutes – without any paperwork. The German IBAN is included.
• Invoicing and accounting: Write invoices, categorize expenses and export data directly to your tax advisor – fully GoBD-compliant.
• Multiple sub-accounts with IBAN: These can be easily created with one click and are ideal for separating budgets, reserves or projects.
• Access for team members: Assign roles and authorizations for co-founders, accountants or assistants – securely and flexibly.
• Integrated tools and interfaces: Finom can be connected directly to Lexoffice, DATEV, sevDesk, Sage and more.
• Virtual and physical cards: Use an unlimited number of virtual cards and VISA cards for you and your team.
• Real-time overview: Instant notifications for every transaction keep you up to date at all times.
• Transparent pricing structure: There are no hidden fees. Choose the plan that suits you – including the free plan.
• Cashback and discount: Receive up to 3% cashback on card payments and 20% discount on annual payments.

You also benefit from German-speaking customer service, an intuitive user interface and a free trial month. In short: Finom is precisely tailored to the requirements of young companies.

Is it possible to open a business account for a start-up with Finom completely online?

Yes, Finom allows you to open a business account for a start-up completely online – quickly, securely and without any paperwork.

The necessary company data and documents are automatically retrieved from official registers, such as the commercial register. You only have to upload documents manually if certain information is missing or unavailable.

Identification takes place via Video-Ident. The German IBAN is usually provided within 24 hours. Companies in formation, such as GmbH i.G. or UG i.G., can also open an account before registration – missing documents such as commercial register number or tax number can be submitted within 90 days.

How long does it take to open a business account for start-ups with Finom?

The application only takes around 15 minutes and is completed entirely online without any paperwork. After successful video identification and automatic verification of the company data, the German IBAN is usually provided within 24 hours.

Opening a business account with Finom is therefore fast, digital and efficient – ideal for founders who don’t want to waste any time.

Can you open a business account with Finom without Schufa?

Yes, it is generally possible to open a business account with Finom without a Schufa check. As Finom offers a pure business account that does not include a credit line or private consumer loans, there is no classic Schufa check, as is usual with private accounts or credit products.

Instead, Finom checks:

• identity of the applicant (via Video-Ident)
• legal form and register data of the company
• beneficial owners in accordance with the Money Laundering Act

Note: Even if there is no active Schufa check, Finom, like all regulated financial service providers, reserves the right to carry out additional checks if there is a justified risk.

Open a Finom business account – how secure is it for start-ups?

Your money is safe with Finom and the app is reliable.

Finom is a regulated e-money institution with its own EMI license and is supervised by the Dutch Central Bank. Customer funds are held in separate trust accounts with reputable European banks. This separation from the company’s assets protects your money even in the unlikely event of insolvency.

Finom also uses modern security measures to protect your account from unauthorized access:

• Passkey authentication: instead of passwords, Finom uses passwordless logins with passkeys linked to your device. This effectively protects against phishing and unauthorized access.
• Two-factor authentication (2FA): Additional confirmation is required to access your account, for example through a one-time code sent to your mobile device.
• 3D Secure procedure: Online payments with your Finom card are secured by the 3D Secure procedure, which requires you to additionally confirm transactions.
• Biometric authentication: The Finom app supports biometric logins via fingerprint or facial recognition, which further increases security.
• Device binding: Your login credentials and passkeys are tied to your personal devices and cannot be used on other devices without your explicit authorization.

These security mechanisms ensure that only you have access to your account and can authorize transactions.

The Finom app is available for iOS and Android and has already been downloaded over 100,000 times. It offers a user-friendly, powerful interface so you can manage your business account efficiently.

Is it possible to add business accounts from other banks to Finom’s business accounts for start-ups?

Yes – with Finom's multibanking feature, you can also securely connect business accounts from other banks to monitor all account balances and transactions centrally in the Finom dashboard.

What is possible?

• View balances and transactions of external accounts
• Synchronization of multiple accounts on one interface
• Export for accounting or analysis

Does Finom have separate cards for team members with a business account for start-ups?

Yes, with Finom you can issue separate cards for your team members. This enables efficient management of company expenses and offers the following benefits:

• Free virtual and physical VISA debit cards: You can issue multiple free cards for you and your team, with no hidden fees.
• Individual limits and guidelines: Specific spending limits and policies can be set for each card to keep control of spending.
• Real-time monitoring: The customizable dashboard allows you to track all expenses in real time and keep track of your company’s finances at all times.

These features help start-ups to optimize their financial processes and control expenses efficiently.

Is it possible to create multiple sub-accounts or wallets in a Finom business account for start-ups?

How much does it cost to open an account for start-ups with Finom?

Opening a business account with Finom is free - there are no set-up fees. Start-ups can choose from several flexible plans, starting with a free solo plan for single founders. For growing companies, paid plans are available from €9 per month.

You receive a discount if you pay annually. In addition, all fee-based plans offer a 30-day free trial period – completely risk-free.

Is there a free business account for start-ups at Finom?