You are a self-employed person. You send invoices. You pay your bills properly. Because that is what everyone does, right? But of course you also have a good bank account (and safe savings account with a high interest rate) so that you can be paid well. And preferably without it costing you the world. With a good app.
But why wouldn't you just use your own checking account that you already have? We write about this in detail here: “Why do I need a separate business checking account?“!
There are several questions that arise when opening a new checking account. Once you have made the choice and passed this bill on to your customers and suppliers, you will not want to change this anytime soon. That is why it is good to think about it before opening a self-employed checking account. A few questions you can think about are:
- What is the best bank account
- What is the cheapest?
- What reputation does the bank have?
- What is the most sustainable sofa?
- Does the bank have a good app?
These are all relevant questions that you may encounter and that we will answer for you here. Before we do that, first an overview of the different banks in the Netherlands, or where you can open a checking account as a Dutch company.
Bank statement:
This is a simple overview of different payment accounts. Note, some banks only offer accounts for entrepreneurs, so you can't arrange your private and business banking at 1 bank, that can of course also be an advantage, that you keep it really well separated.
| ABN AMRO | A business account is now free for the first six months. |
| ING | Get off to a good start with the Starter Package! |
| Rabobank | Starters from the Netherlands. You guys are awesome! |
| Knab | Get off your couch! |
| Triodos Bank | Sustainable bank. Good business. |
| SNS | Part of Volksbank |
| Regional Bank | Complete payment package |
| ASN Bank | For the same money, you choose a sustainable bank |
| Bunq | Bank of the free |
| N26 | The Mobile Bank |
| GoDutch | New Dutch Bank |
| Revolut | Groundbreaking Banking |
| Finom | More than just a business account |
| Qonto | Online business account |
Different banks have different benefits. What you choose depends on different preferences. We try to help you here by listing various arguments for and against, so that you can make a good choice yourself.
It is important to know for yourself what is important. Sustainability, paying abroad, a credit card, many transactions or as cheaply as possible.
Overview of the banks.
N26 is free, so it's always easy to give it a try. This is a German startup that is growing fast.
ASN & Triodos are sustainable banks, sustainable banking is the focus of these two banks. If you go for sustainability, these are definitely the best options.
ABN AMRO, Rabobank and ING are known as the three traditional major banks in the Netherlands. Bunq does not call itself a bank but an IT company, you can only bank there via the app on your mobile.
Knab is the best alternative to the 3 major banks with extensive functionality and a handy app. Below we continue the comparison and look at, among other things, the costs of the different banks.
In addition, there are a large number of Neo banks, or in good Dutch: new banks, which are often mainly active online. You may know the Dutch Bunq or the German N26. From the UK comes Revolut, Qonto from Paris. And also Finom and GoDutch come from Amsterdam. OpenBank is slightly different, because that is an initiative of Santander from Spain.
What are the costs for a business checking account?
One of the important things to pay attention to are the costs charged by the different banks. This can vary considerably. Again, this depends very much on your personal situation and payment behavior.
The costs consist of monthly fixed costs and any variable costs, for example for transactions and withdrawals abroad. In principle, we are looking at a standard package with a debit card and access to online banking. Offers are also regularly made to use the account for free for 6 months or longer, for example.
| Bank | Monthly | Payment received | Transfer payment | Remark |
| ABN | €9,00 | €0,15 | €0,08 | |
| ING | €9,90 | €0,10 | €0,10 | |
| Rabobank | €9,95 | €0,15 | €0,09 | |
| Knab | €5,00 | €0,10* | €0,10* | 1000 free transactions per year |
| Bunq | €9,99 | €0,10 | €0,10 | |
| Triodos Bank | €10,67 | €0,15 | €0,07 | |
| ASN Bank | €6,00 | €0 | €0 | Max 1000 transactions & max 2 employees |
| N26 | €0 | €0 | €0 | German and English support |
| Finom | €0 | 5 / month free | Different packages | |
| GoDutch | €0 | Different packages | ||
| Qonto | €9 | It is quite expensive for SMEs… | ||
| Revolut | €0 | |||
Private vs business account
Is it mandatory to use a business account? Simply put, no. Usually, the banks require this from you if you ask for it. But in fact, the functions are of course just the same and you could therefore start with a private account. However, this is never advisable. Make sure that you always keep your private and business finances separate.
In any case, always make sure you use a separate account for your business activities. You don't want your beer on Saturday and groceries to be in the same account as your clients' payments. And then choose a separate business bank account.
If you want a business loan at some point, it is definitely a requirement. Because then the bank expects that they have insight into your business payment details.
Conclusion
If you go for the price, you will end up with GoDtuch, Finom or N26 out. However, if you want a Dutch bank, then you choose, especially in the beginning Knab.
If sustainability is very important, then choose the Triodos Bank.