Rabobank has opened a new business account, especially for self-employed people. With this account you do not pay a fixed amount per month, but only per transaction. Is that interesting, or is it far too expensive for the average self-employed person? We will dive into it for you.
What is it exactly?
This is very briefly what Rabobank itself says about it.
Then they tell you that you pay €0.39 per euro transaction. Compare that with the normal business account, where you pay €0.11 for a Digital transfer and €0.15 for a Euro Payment Credit, in addition to the monthly fixed costs of €9.95.
As an extra benefit, you will receive all your neuro payments for free for the first 6 months after registration with the Chamber of Commerce. You can also cancel it every month and you will simply receive a debit card and online banking.
Is the Rabo ZZP Account cheaper for me?
It depends on. Let's take a calculation example.
A credit to the Rabo costs €0.15 for a business account, so for a self-employed account it is €0.24 more expensive. A business account will cost you (rounded) €10. So if you make 42 debits or more, you will be cheaper with the business account. But of course you have debits and credits. A “Digital transfer” is slightly cheaper, €0.11.
Suppose you have 3 customers who pay you monthly. You set aside some money for VAT, income tax and a general savings pot and you pay a few bills. Total 17 payments. The monthly costs are then.
20 x €0.39 = €9.75 for the Rabo ZZP account
With the Rabo business account you pay:
€9.95 fixed per month
3 x €0.15 = €0.45
17 x €0.11 = €1.87+0,
Total = €12.27
However, if you have more transactions, for example 2.5 times as many transactions as in the first example, then the comparison looks like this.
50 x €0.39 = €19.50 for the Rabo ZZP account
With the Rabo business account you pay:
€9.95 fixed per month
10 x €0.15 = €1.50
40 x €0.11 = €4.40
Total = €15.85
The conclusion is that with few transactions, for example if you have one or a few large customers and make few payments, the ZZP account can be a good option!
On the other hand, if you have many small customers and you have to buy a lot and resell them, it will quickly become more expensive, and it is therefore better to switch to the regular business account.
We think it is a very good development that Rabobank is doing this. For example, if you want to set up a webshop, you are often required to have a business account, otherwise Mollie cannot pay you.
This way you can more easily separate your finances, without immediately incurring fixed costs. So nice, right?
On another note. Do you already have a good and simple CRM system? to keep track of your relationships? Very useful to easily build good relationships.