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bunq business review Germany

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Make fast payments and earn interest on your funds with bunq.

bunq is a mobile-only bank offering customers a choice of personal, travel and business accounts along with multiple cards. Launched in 2015, the Dutch bank now operates in 30 countries across Europe.

In this review we take a look at the key points of bunq’s business account to help you decide if it’s right for your company.

€9.99

Monthly fee

20

Number of users

N/A

Local transfers limit

Details

Product Namebunq Business
Monthly fee€9.99
Supported currenciesEUR
Fee for additional users€9.99
Local transfers limitN/A
Limit for free international transfersN/A
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How does bunq work?

Like other so-called challenger banks, bunq operates without any physical branches. Its mobile-first accounts are all managed via an app, which is accessible through your smartphone. bunq has a few different types of account: Premium, Premium SuperGreen, Travel, Business and Business SuperGreen. You can sign up for a bunq Pack for €19.99 a month and get four separate bunq accounts to share with family or friends, or you can pay less to get its business account only.

What features can I get with bunq Business?

bunq Business has a range of benefits and these include:

  • Fast and easy sign-up process
  • 0.27% interest earned on your first €10,000 – paid monthly
  • 10 fee-free ATM withdrawals per month, after which it costs €0.99 each time
  • Free local and regular payments
  • Send money to 15 non-Euro currencies via TransferWise
  • Up to 25 free sub-accounts, each with its own IBAN so you can quickly organise your money
  • Three bank cards, including a Mastercard direct debit
  • Apple Pay and Google Pay are both compatible
  • Send funds to other bunq users, 24/7
  • Make instant payments and easily organise batch payments
  • Generate personalised payment links for people or companies who owe you money. They don’t need to be bunq customers.
  • Bookkeeping and accounting apps to help automate your business finances, including VAT calculations
  • Instant notifications to track each card payment, direct debit or other transaction
  • Customer support via the app or email

What additional features do I get with bunq Business SuperGreen?

The bunq Business SuperGreen account, for the higher monthly fee of €19.99, gives you access to all the features of bunq Business as well as the following:

  • For every €100 that you spend with bunq Business SuperGreen, a tree will be planted
  • You’ll receive purchase protection and extended warranty
  • An exclusive metal card

What costs are there with bunq Business?

There are a few different costs, fees and limits to consider when you choose a business account with bunq. These include:

  • A €9.99 monthly fee applies for bunq Business
  • A €19.99 monthly fee applies for bunq Business SuperGreen. You’ll get all the features of bunq Business plus a metal card and bunq will plant a tree for every €100 that you spend.
  • €0.10 fee per transfer to, or from, other SEPAs (Single Euro Payments Areas) – see more below
  • €0.10 fee per transfer, plus, a fee set by TransferWise, when you receive money from non-SEPAs (including the UK)
  • For €19 per month, you can access 25 further sub-accounts
  • It’s a Euro-only account, so you can’t receive direct payments from foreign currencies
  • You’ll still need another bank account for most of your financial needs
  • Phone support is not available
  • No physical branches

Compare the banking products from bunq

Data indicated here is updated regularly
Name Product Monthly fee Number of users Local transfers limit
bunq Business
€9.99
20
N/A
Benefit from multiple accounts, the ability to link your bookkeeping software, receipt linking, employee access, and simple payments.
bunq Business SuperGreen
€19.99
20
N/A
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Are my funds safe with bunq?

Any funds you have with bunq are protected up to €100,000 by the Deposit Guarantee Scheme of the Dutch National Bank (DNB). If bunq were to go bust, your money will still be safe.

The card is also protected by a PIN, which you set yourself and change directly from your phone. If your card is lost or stolen, you can freeze it from the app and order a replacement card straight away.

How to sign up to bunq Business

bunq says it takes as little as five minutes to sign up to their business account. You’ll simply need your phone, ID and details of your business. During a short verification process, you’ll typically have to take a photo of your photo ID and record a short video. After signing up, you can then add funds to your bunq account.

Your bunq card should arrive within 10 working days, which will give you full access to your account.

Bottom line

bunq certainly has the challenger spirit that is seen with many of the digital-only banks available in Germany. One example of this is seen through the bank’s recently launched Business SuperGreen account (costing €19.99/month), an environmentally-friendly programme in which bunq plants a tree for every €100 spent. The fact that bunq pays an interest rate of 0.27% is another big positive, as are its range of finance tools and the ease at which transfers can be made Europe-wide.

However, if your business trades regularly with the UK then this business account may not be the best choice for you – as there are fees for exchanging funds from euro to sterling. So, before you settle on the question of where to do your business banking, you’ll want to compare plenty of other options on the market.

Compare bunq against other business bank accounts in Germany

Data indicated here is updated regularly
Name Product Monthly fee Number of users Local transfers limit
N26 Business
€0
10
Unlimited
A convenient business account for freelancers. Benefit from cashback, spending categorisation and free foreign currency payments.
Fidor Smart Business Account
€5
1
N/A
A mobile business account with real-time notifications on your transactions. Includes a digital Mastercard with mobile payment and a Smart Banking app.
N26 Business You
€9.90
10
Unlimited
A premium business account with free foreign currency payments, cashback and a complimentary insurance package.
N26 Business Metal
€16.90
10
Unlimited
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Compare up to 4 providers

Data indicated here is updated regularly
Name Product Monthly fee Number of users Local transfers limit
NetBank Business Account Basic
€4.85
10
Unlimited
An affordable business account designed for freelancers and self-employed people with mobileTAN, sub accounts and more.
Commerzbank Classic business account
€9.90
1
10 per month

Receive €100 opening your account online and enjoy 0 € price for 6 months

Commerzbank Premium business account
€24.90
1
75 per month
Penta Business Advanced plan
Penta Business Advanced plan
€9
2
100
A German IBAN and current account for startups and small businesses that gives you convenient account management, international payments and multi-user support.
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Compare up to 4 providers

Data indicated here is updated regularly
Name Product Monthly fee Number of users Local transfers limit
bunq Business
€9.99
20
N/A
Benefit from multiple accounts, the ability to link your bookkeeping software, receipt linking, employee access, and simple payments.
Penta Business Premium plan
Penta Business Premium plan
€19
5
300
A top-tier business account for startups and companies with accounting integrations and international payments. Access it all through a smart mobile app.
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Compare up to 4 providers

Please note these products are not licenced as banks. Check our product review pages for details.
Data indicated here is updated regularly
Name Product Monthly fee Number of users Local transfers limit
Qonto Solo
€9
1
20
Self-employed account including 1 user and 1 physical one card. It allows up to 20 free transfers
Qonto Standard
€29
5
100
A low-cost business account solution for small businesses and freelancers. Get 2 physical cards and 5 users included along with a number of features.
Holvi Starter
€0
Unlimited
500
An online account ideal for new businesses with €0 monthly fees and unlimited SEPA transfers. Includes a Holvi Business debit Mastercard.
Holvi Grower
€12
Unlimited
Unlimited
A full online business account with unlimited SEPA transfers, unlimited invoicing and up to three Holvi Business Debit Mastercards.
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Compare up to 4 providers

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