|Vendor name||Penta Fintech GmbH|
|Account name||Penta Business Premium|
|Annual account fee||228.00 €|
|Account fee p.a.||228.00 €|
|Credit card fee p.a.||0.00 €|
|Online transactions free of charge p.M.||300|
|Online transactions||0.20 €|
|Fees per payment euro zone||1.00 %|
|Foreign exchange fee||1.00 %|
|Free Withdrawals p.m.||5|
|Cash withdrawal (domestic)||1.50 €|
|Cash withdrawal (euro zone)||1.50 €|
|Foreign exchange fee||1.50 €|
|GmbH / KGaA / AG|
|UG limited liability|
|Partnership under civil law|
|Partnership company (PartG)|
- Services of the Penta Premium business account
- For whom is the Penta Premium business account suitable?
- Prices & Conditions of the Penta Premium Business Account
- Special features of the Penta Premium business account
- Penta Premium business account: Advantages and disadvantages
- Open Penta Premium Business Account
- Conclusion: The Penta Premium Business Account
Penta Premium is a business account for young companies of all legal forms. Penta is not a commercial bank in the classical sense, but a start-up from the FinTech sector. The young company has its headquarters in Berlin. The declared goal is to offer small and medium-sized companies a business account in several variants that are reduced to the essential services.
Services of the Penta Premium business account
The account ensures the processing of cashless payment transactions by means of bank transfers. Up to five users have access to the account, a maximum of five Mastercards may be applied for. The basic fee includes 300 SEPA transfers per month and an unlimited number of card payments. Withdrawals of cash by Mastercard are possible worldwide. A bank card is not provided, nor is a overdraft facility granted.
For whom is the Penta Premium business account suitable?
With the Premium Account Penta would like to address preferably young enterprises of all legal forms, which are already a little established. By issuing several Business Mastercards and providing access to the account for several users, Penta Premium is primarily of interest to companies with several shareholders.
Prices & Conditions of the Penta Premium Business Account
For the Penta Premium business account there is a fee of 19 Euro per month. The credit card is free of charge, for the withdrawal of cash worldwide costs of two percent of the turnover are charged. The minimum fee is two euros. Companies in formation can use the start-up tariff of nine euros.
Special features of the Penta Premium business account
Interesting is the integration of further services that may be necessary for a young company in its start-up phase. These include, for example, the execution of transactions in a foreign currency, automated accounting and payroll accounting. Factoring can also be carried out. If desired, the Penta Premium can be used as a second business account. This is useful if a company has already opened a business account that does not offer certain services or offers them for a fee.
Penta Premium business account: Advantages and disadvantages
The clear and unambiguous price structure deserves special mention. The premium account is subject to a fee; the total price covers all costs for account management, for issuing Mastercards and for access by a maximum of five users. The only additional costs are for withdrawing cash with Mastercard. The account holder therefore knows exactly what charges he has to expect in each case. The account is managed on a credit basis, a credit line is not granted. Thus the Penta Premium comes very well into question for account owners, who may not open a business account with credit line due to an entry in the Schufa. The comprehensive customer support in German and English is also a positive feature. Negative is that no cash deposit is possible for the premium account and that no bank card is available. This is due to the fact that the company has no branch structure and does not cooperate with other banks when it comes to cash supply. As Penta is only a FinTech and does not hold a banking licence, it is not possible to set up a overdraft facility, although this may be necessary at the beginning of the business activity.
Open Penta Premium Business Account
The opening of the Premium business account takes about 20 minutes. The account holder must enter his personal data and details of his company. If a shareholder agreement or list of shareholders exists, this must be submitted. The identification takes place via VideoIdent and is done within a few minutes. After two to three bank working days the Penta Premium is opened, so that the Mastercards can be ordered.
Conclusion: The Penta Premium Business Account
The Penta Premium is well suited for young companies that are growing and are looking for an account that is inexpensive and easy to calculate. The cost structure is transparent and understandable, so that you know exactly what fees to expect each month. In addition, Penta consistently does without services that cost money and are not absolutely necessary for a start-up.
Other Penta business accounts are Penta Basic and Penta Advanced.