Services of the netbank business account
The netbank business account offers a low-cost account management including online banking. Cash can be withdrawn at around 2.5 million ATMs with the MasterCard logo when MasterCard is added. Digital account statements or the SMS service provide information on the account balance. The account thus covers all the important functions of a company account. Extra services such as sub-accounts, SMS service and MasterCard can be booked individually for a low fee.
For whom is the netbank business account suitable?
The netbank wants to address freelancers, sole traders and sole traders with its account. The target group are self-employed people who run their business as a partnership and therefore need a manageable business operation. By the possibility of opening further subaccounts, customers can keep still better the overview of expenditures and incomes. The corporate account can be opened by business customers from any industry - either in the name of the customer or in the name of the (legally responsible) company.
Prices & conditions of the netbank business account
Since 1 October 2019, netbank has been offering its business customers a new account model: Until now, it was possible to choose between the basic and the premium business account. From October 2019, netbank will offer only one business account, which combines the conditions of the previous models. With an account management fee of € 4.85 per month (€ 58.20 per year) and 10 free booking items included, this is a low-cost company account. Each additional voucherless booking costs customers € 0.15, card transactions with the MasterCard do not count as booking items.
The MasterCard Debit Business can be optionally booked in addition and is available for an annual fee of 10 euros. The same conditions apply to partner and additional cards. The credit card can be used to withdraw cash at over 2.5 million ATMs worldwide. One ATM use per month is free of charge, each further withdrawal costs €3.
Optionally, sub-accounts can also be added by the account holder, whereby the costs for each sub-account amount to € 2.50 per month. So that customers always keep the overview of account balance and turnovers, they can book the SMS service for 1.50 € per month. This service notifies account holders of all transactions around the clock.
Advantages and disadvantages of the netbank business account
Advantages of the netbank business account are both the favourable account maintenance fee and the 10 free booking items per month. The fee structure is very easy to understand and transparent. Those who are satisfied with a digital account statement also do not have to pay anything for it. If desired, financial software can be integrated as long as it is compatible with HBCI and FinTS. Even more transparency and a comprehensive overview are provided to customers thanks to the SMS service, which provides full information on all expenses and transactions and is available for a small fee of 1.50 per month.
Since netbank is a direct bank, it is not possible to visit a branch, which can be a disadvantage for some users. If you want to withdraw money frequently with MasterCard, you will quickly incur high costs, as withdrawals are only possible once a month free of charge. It is therefore advisable to use another credit card to withdraw cash. There are deductions for the fact that netbank does not offer the account for every legal form, but only grants access to freelancers, sole traders and sole entrepreneurs. No overdraft facility is granted for the account; overdraft interest of 13% is charged. It thus corresponds to a credit account. Payments or transfers can only be made if there is a credit balance on the account. If this is the case, however, the fees for transactions are favourable.
Open a business account with netbank
The account is opened online. If an account is opened, a preliminary check is carried out on the basis of the information you have provided. This also includes the Schufa check, which enables the account to be opened in an uncomplicated and timely manner. The first prerequisite for opening an account is therefore to provide personal and business data. The PostIdent procedure is required for legitimisation. If the account is then activated, it can be used directly.
Conclusion on the netbank business account
Self-employed and freelancers who exclusively process their transactions online and who only make a few bookings per month benefit from the very attractive and understandable cost structure. The account is well suited for freelancers who primarily need the basic services for a business account. Thanks to the SMS service, customers remain informed about their account balance and movements around the clock, without having to log into online banking. This allows a very pleasant handling of the account and is especially advantageous when you are on business trips. The all-round service in combination with the low fees ensures that the account is a good basis for your business expenses.