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Kontist Business Review

Digital banking accounts with automated tax forecast, accounting software integration and more.

To help reduce administrative tasks and automate business processes, Kontist offers three digital banking accounts and a mobile app equipped with a host of useful features.

0 €

Management Fee

1

Number of users

Unlimited

Local transfers limit

Details

Product NameKontist Free Business Account
Management Fee0 €
Supported currenciesEUR
Number of users1
Local transfers limitUnlimited
Currency conversion Fee1.7%
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How does Kontist work?

Berlin-based fintech Kontist offers three fully digital business banking accounts (held by solarisBank), each with varying levels of finance management features, as well as a full-service tax handling plan. Customers will be able to access their finances on the go at any time through its mobile app or online platform.

For all account tiers, Kontist gives you a German IBAN account and a debit Mastercard (both virtual and physical) so you can transact conveniently. There are a number of features that come with each account tier, such as unlimited free SEPA transfers, as well as exclusive features that are only offered with Premium or Duo accounts.

Key features

The Kontist app is user-friendly and jammed-packed with a full suite of business banking features, such as:

  • Business banking tools. All Kontist banking plans come with features typically offered by traditional bank accounts, your own German IBAN, plus a wide range of add-on services.
  • Debit card. Enjoy convenient payments with a free contactless-enabled Visa Debit card issued by Solarisbank. Can be used worldwide, wherever Visa is accepted.
  • Mobile app. The Kontist app is equipped with a host of advanced features to help you manage your finances on the go, anytime anywhere.
  • Automated categorisation. Incoming and outgoing transactions are automatically tagged and categorised for easy accounting.
  • Real-time bookkeeping. Sync and import your transactions securely by connecting your Kontist bank account to accounting software such as lexoffice, fastbill or Debitoor.
  • Liquidity management. Kontist calculates your expected tax payments with every transaction in real-time and automatically sets aside funds in virtual sub-accounts so that you’d have sufficient cash reserves.
  • Coronavirus crisis support. To help freelancers during this trying time, Kontist has set up various support measures, including:
    • Kontist Steuerberatung. Stay informed on the latest aid schemes and apply conveniently.
    • Corona Tax Relief tool. Apply for tax payment deferrals and reduce your tax prepayments with ease.
    • Kontist Stiftung. Tune in to an ongoing series of expert webinars where politicians, lawyers, economic consultants and other industry experts share their insights on current developments and their significance for the self-employed.
    • Free legal aid hotline. If you require legal advice on matters resulting from the pandemic, you may speak to a lawyer from Kontist’s partner — Legal Smart.
  • Instant alerts. Keep track of your finances and account activity with real-time notifications.
  • Support. Contact customer support via phone, email and live chat. Kontist also provides a free legal hotline if you have any enquiries on legal matters.
  • European Deposit Guarantee Scheme. Up to €100,000 of your money is guaranteed by the compensation scheme of German banks.

What are the account options for businesses?

Kontist offers three account tiers, Free, Premium and Duo — each with different features and cost:

AccountMonthly PriceKey features
Free€0 per month (plus VAT)
  • Free German IBAN account, accessible from Kontist web and mobile apps
  • Basic banking features including balance checking and cash transfers
  • Unlimited free SEPA transfers and direct debit payments
  • Overdraft facility available for amounts between €500 to €5,000
  • Real-time notifications on account activities
  • Free virtual card
  • Compatible with Google Pay
  • Physical Visa Business Debit card available at 29 € p.a. (optional)
Premium€9 per month (plus VAT)
  • All Kontist Free Banking account features
  • Free contactless-enabled Visa Business Debit card (issued by Solarisbank)
  • Accounting software integration – lexoffice, fastbill and Debitoor
  • Receipt scanning and transaction notes entry
  • Automatic categorisation
  • Automatic tax and VAT calculation
  • Export transactions
  • Free virtual card
Duo€12 per month (plus VAT)
  • All Kontist Premium Banking account features
  • Free contactless-enabled Visa Business Debit card (issued by Solarisbank)
  • Includes lexoffice bookkeeping software – Rechnung and Finanzen
  • Free virtual card

Information provided is accurate as of 25 January 2021.

Full-service tax handling

To help clients free up more time to focus on building their business, Kontist also offers a professional tax handling and advisory service at €149 per month that’d take all the tedious administrative tasks off your hands.

This way, you’ll no longer need any accounting tools, sieve through invoices, or worry about ever missing a tax declaration deadline. Notable features include:

  • Kontist Premium Banking account
  • Automated financial bookkeeping and tax calculation
  • Advance VAT returns and profit-and-loss statements (EÜR)
  • Annual financial statements, commercial and tax declaration
  • Tax hotline available 7 days a week from 9am to 9pm
  • Communication with tax authorities
  • Tax consultation from qualified personnel at Kontist Steuerberatungsgesellschaft mbH

Enjoy reduced pricing of €99 per month (plus VAT) if you’re:

  • A small business owner (as defined by Section 19 UStG); or
  • Has an annual revenue of €50,000 or less; or
  • Self-employed for less than 2 years

Fees and limits

There are a few different costs and limits that come with a Kontist account. These include:

  • Monthly fees. The Free account comes with a monthly fee of €0, the Premium account comes with a monthly fee of €9 and the Duo account comes with a monthly fee of €12.
  • ATM fees. Cash withdrawals cost €2 per transaction.
  • Overdraft fee. If you overdraw your account, you will be charged 11% on the amount you overdraw.
  • Card replacement fee. Replacement for a lost or damaged debit Mastercard will cost €10.

How to sign up with Kontist

Opening a Kontist account is simple and only takes 10 minutes or less. You can sign up from its website or mobile app (available on both Android and iOS devices). Before you apply, make sure that you have a device with a microphone and camera, as well as your valid ID or passport.

Once you have successfully signed up for the Kontist account, you may proceed to use its features or order your debit Mastercard. The card will be sent to your registered address in Germany within 4-6 working days.

Step-by-step registration guide

  1. Enter your email and proceed to create your account password
  2. Confirm if you’re self-employed
  3. Select your nationality
  4. Input your personal details (i.e. name, date of birth and gender)
  5. Provide your mobile number
  6. Undergo a video call verification with Kontist’s partner IDnow
  7. Choose your preferred Kontist account type

Our verdict

Kontist stands out from its competition with its tailored banking solutions that are especially suitable for freelancers, self-employed and small business owners.

Whether you’re at the beginning of your professional development or managing a small team of employees, Kontist will have an account type that’d serve your needs. If you have just started working for yourself, the Kontist Free account allows you to perform basic banking transactions and make secure payments with a virtual debit card without having any costs to bear.

If your business is gaining traction and you’re starting to accumulate more paperwork or administrative tasks, the Premium or Duo accounts provide a wider range of tax calculation tools and automation features at affordable cost.

However, make sure to compare the Kontist business bank accounts with other digital banking products to find the one that fits you best before applying.

Experiences of Kontist

Kontist has an average rating of 4.2 based on 247 Trustpilot reviews. It is also rated 4.8 based on 1,298 App Store reviews and 4.7 based on 867 Google Play Store reviews.

Compare Kontist with a range of digital banks in Germany

Name Product Management Fee Number of users Local transfers limit
bunq Easy Bank Business
4.99 €
1
N/A
Enjoy zero FX fees on your overseas spending, plus send and receive instant payments with ease. Comes with a complimentary prepaid card.
Commerzbank Founder offer
14.90 €
1
75 per month

Receive 100 € opening your account online and enjoy 14.90 € per month for the first 2 years

N26 Business You
9.90 €
10
Unlimited
A premium business account with free foreign currency payments, cashback and a complimentary insurance package.
Kontist Free Business Account
0 €
1
Unlimited
A free business account for solo self-employed. No hidden costs, convenient account switching service, first-class in-house support. SEPA transfers and direct debit, Visa Business Virtual Debit Card, Google Pay and overdraft facilities.
Penta Starter
Penta Starter
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.
N26 Business Metal
16.90 €
10
Unlimited
The N26 Business Metal is a company account with which you get a metal bank card and 0.5% cashback on all your purchases.
bunq Easy Green Business
20.99 €
25
N/A
Manage your business finances effortlessly with a wide array of features, including automatic payment requests, spend analytics and more.
Commerzbank Premium business account
24.90 €
1
75 per month
A premium account with travel benefits and insurance coverage. Free transfers, free cash withdrawals and up to four premium credit cards.
Kontist Premium Business Account
9 €
1
Unlimited
Premium account for solo self-employed. For a monthly fee of , it contains the same services as Kontist Free plus a few other services such as tax calculations.
bunq Easy Money Business
10.99 €
25
N/A
Benefit from multiple accounts, the ability to link your bookkeeping software, receipt linking, employee access, and simple payments.
N26 Business Smart
4.90 €
10
Unlimited
A business current account with an Italian IBAN for freelancers. It offers cashback, shared spaces to save, automatic rounding, discounts and premium offers.
Kontist Duo Business Account
12 €
1
Unlimited
Duo account for solo self-employed. Contains the same services as Kontist Premium for a monthly fee of plus lexoffice services such as digital document management.
Penta Comfort
Penta Comfort
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.
N26 Business
0 €
2
Unlimited
A convenient business account for freelancers. Benefit from cashback, spending categorisation and free foreign currency payments.
Commerzbank Classic business account
9.90 €
1
10 per month

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

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