How much money do you need to open a business bank account?
Opening a business bank account is a crucial step for any company, but how much money do you need to get started? Many European businesses struggle with vague deposit requirements, banking fees, and varying policies across countries. Some banks allow you to open an account with zero deposit, while others require a few thousand euros. The amount often depends on your business type, location, and chosen bank. Understanding these factors can help you avoid surprises and choose the best option for your business. In this guide, we’ll break down the minimum deposit requirements across Europe, key factors that influence them, and the best banking choices available.
Why businesses need a dedicated bank account
Separating personal and business finances
Mixing personal and business finances is one of the fastest ways to create accounting headaches and potential legal issues. A dedicated business bank account ensures your company’s transactions are separate, making bookkeeping and tax filing much simpler. If your business is structured as an LLC or corporation, keeping finances separate is not just helpful—it’s legally required.
Having a business account also improves credibility. Clients and suppliers take a company more seriously when payments come from a business account rather than a personal one. Additionally, separating funds protects personal assets if legal or financial issues arise.
Meeting regulatory and banking requirements
European regulations, particularly anti-money laundering (AML) laws, require businesses to operate with transparency. Banks must verify business information, including ownership details and expected transaction volumes, to comply with EU financial regulations.
Many countries in Europe also have local banking laws that require businesses to use a dedicated business account for tax reporting and compliance. Without one, you could face penalties, especially if your business deals with large transactions.
Access to business banking services
A business bank account doesn’t just store money—it provides access to crucial financial tools. Many banks offer overdraft protection, business credit lines, and invoice financing, which can be essential for cash flow management. If your business operates internationally, you’ll need multi-currency support and affordable international payment options. With a dedicated business account, you can also accept credit card payments, process payroll, and manage business expenses efficiently.
Factors affecting the minimum deposit to open a business bank account
Type of business structure
The amount you need to deposit when opening a business bank account often depends on your company’s legal structure. A sole proprietor might only need a small deposit (or none at all), while a corporation could be required to deposit a few thousand euros.
- Sole proprietorships – Many banks allow sole traders to open a business account with no minimum deposit. However, some charge a small setup fee.
- LLCs (Limited Liability Companies) – Banks may require a starting deposit, often between €100 and €1,000, depending on the provider.
- Corporations – Larger companies typically need to deposit more, sometimes upwards of €5,000, especially for accounts with advanced features.
Country-specific banking regulations
Banking regulations vary across Europe. Some countries, like the UK and the Netherlands, have relatively low deposit requirements, while others, like Germany and France, may have stricter policies.
For example, in Germany, many traditional banks require a deposit of at least €1,000 for business accounts, whereas in the UK, some banks offer free business accounts with no deposit. France, on the other hand, often requires deposits ranging from €10 to €1,500, depending on the bank.
Type of business bank account
Not all business accounts are the same. Basic business checking accounts often have little to no deposit requirements, while premium accounts—offering services like multi-currency management, business loans, or international trade support—may require an initial deposit of several thousand euros.
Some banks also offer startup-friendly accounts with lower deposits, while corporate accounts designed for large enterprises typically come with higher financial commitments.
Risk assessment by banks
Banks evaluate the risk level of your business before setting deposit requirements. If your company operates in a high-risk industry (e.g., cryptocurrency, gambling, financial services), you may need a higher initial deposit or face additional compliance checks. In contrast, low-risk businesses, such as consulting firms or local retail shops, often qualify for lower deposit accounts.
Minimum deposit requirements in major European countries
Germany
In Germany, minimum deposit requirements vary by bank and business type. Traditional banks like Deutsche Bank and Commerzbank typically require a deposit of €1,000–€5,000 for corporate accounts. However, some online banks, like N26 Business, offer accounts with no deposit requirement, making them attractive for startups and freelancers.
Additionally, German banks often require a business registration certificate (Handelsregisterauszug) and an Employer Identification Number (EIN) before opening an account.
France
French banks usually require an initial deposit ranging from €10 to €1,500, depending on the account type. BNP Paribas and Société Générale have varying deposit requirements based on business size.
Startups and smaller businesses often opt for online banks like Qonto or Shine, which allow business accounts with minimal deposits and faster setup processes. However, traditional banks may require businesses to make an initial deposit before activating their accounts.
United Kingdom
Many UK banks, including Barclays, HSBC, and Lloyds, allow businesses to open accounts with no minimum deposit, especially for startups. However, some premium business accounts or corporate-level banking services may require deposits of £500–£1,000.
Since Brexit, UK businesses operating across Europe should check if their chosen bank offers SEPA payments to ensure smooth cross-border transactions.
Spain
Spanish banks usually require businesses to deposit between €100 and €2,000, depending on the account type. Santander and BBVA, two of Spain’s largest banks, typically ask for a deposit of at least €500 for corporate accounts.
For businesses dealing with international payments, online banks like Wise Business or Onemoneyway provide more flexible options, often with no minimum deposit requirements.
Netherlands
Dutch banks like ING, ABN AMRO, and Rabobank generally require business deposits of €0–€500. Many fintech solutions in the Netherlands, such as Bunq Business, allow account setup with minimal deposits and quick verification.
Since the Netherlands is a hub for startups and multinational companies, many banks offer business accounts with features like multi-currency support, making them ideal for companies with international operations.
Italy
Italian business bank accounts typically require a minimum deposit of €100–€2,000, depending on the bank. Traditional banks like UniCredit and Intesa Sanpaolo often have higher deposit requirements, especially for corporate accounts.
However, Italy has seen a rise in digital banking solutions, where companies can open accounts with no or low deposits. Online banks like N26 Business and fintech services such as Onemoneyway provide alternative options with more flexibility for businesses operating internationally.
Online vs. traditional banks: Which one has a lower deposit requirement?
Traditional banks and their deposit policies
Traditional banks, such as Deutsche Bank, HSBC, and BNP Paribas, usually require higher initial deposits. The main reason is that they offer a full range of banking services, including credit lines, business loans, and financial advisory.
For many corporate accounts, traditional banks require deposits starting at €500 to €5,000, depending on the country and account type. They also tend to have monthly fees and minimum balance requirements. However, businesses that need in-person banking, international trade support, and premium financial services often prefer traditional banks despite the higher costs.
Online banks and fintech solutions
Online banks and fintech companies are changing the game by offering business accounts with low or no deposit requirements. Unlike traditional banks, Revolut Business, N26, Wise Business, and Qonto allow businesses to open an account without needing a large upfront deposit.
These banks also have fewer fees, faster onboarding, and better digital tools for international transactions. However, they may not offer credit facilities or cash deposit options, which could be a drawback for some businesses.
Top business bank accounts in Europe and their minimum deposit requirements
Best traditional banks
For businesses that prefer brick-and-mortar banking, these traditional banks offer some of the best business accounts:
- HSBC Business (UK, EU) – Minimum deposit varies, but many accounts require at least £1,000.
- Deutsche Bank (Germany) – Minimum deposit of €1,000–€5,000 for business accounts.
- BNP Paribas (France) – Minimum deposit ranges from €10 to €1,500, depending on the account type.
- Santander (Spain) – Minimum deposit of around €500 for business banking services.
- ING Business (Netherlands) – Offers some accounts with a €0–€500 deposit requirement.
Traditional banks offer stability, access to loans, and financial advisory services, making them ideal for businesses that require more than just an account.
Best online and fintech business accounts
For businesses looking for low-cost, digital-first solutions, these online banks stand out:
- Revolut Business – No minimum deposit, multi-currency support, free international payments.
- Wise Business – No deposit required, best for companies with frequent cross-border transactions.
- N26 Business – Offers free and premium business accounts with no deposit requirements.
- Qonto – French fintech bank with low deposit requirements and premium features for startups.
- Onemoneyway – A powerful online payment system with no minimum deposit, designed for businesses handling international transactions.
How to choose the right business bank account based on your budget
Evaluating your cash flow and banking needs
Before opening a business account, assess your company’s cash flow and banking needs. Ask yourself:
- Do I need an overdraft facility or business credit?
- Will I be making international transactions often?
- Do I need physical branch access, or is online banking enough?
If your business is cash-heavy or needs frequent in-person transactions, a traditional bank may be the better choice. However, if you operate digitally or internationally, an online bank or fintech solution can save you money and hassle.
Comparing fees beyond the minimum deposit
The minimum deposit isn’t the only cost to consider. Some banks have monthly maintenance fees, transaction charges, or hidden costs that can add up. Before choosing a bank, compare:
- Monthly fees – Some banks charge €10–€50 per month, even if the deposit is low.
- Transaction fees – International transfers and ATM withdrawals may have extra costs.
- Currency exchange rates – If your business deals with foreign clients, poor exchange rates can cost you money.
Choosing a bank that supports business growth
Your business bank account should grow with your company. Look for banks that offer:
- Business credit and overdrafts for expanding operations.
- Multi-currency accounts if you trade internationally.
- Financial tools and integrations, like invoicing and expense tracking.
Whether you choose a traditional bank or a fintech solution, pick one that aligns with your long-term business goals.
Final thoughts
The minimum amount required to open a business bank account in Europe varies widely based on your country, business type, and banking provider. While traditional banks often require deposits of €500–€5,000, online banks and fintech solutions like Onemoneyway, Wise, and Revolut offer low or no deposit options.
If you’re a startup or a company handling international transactions, choosing a low-deposit, multi-currency business account can help you save money and improve cash flow. Always compare deposit requirements, banking fees, and features to find the best banking solution for your business needs.
FAQs
Can I open a business bank account in Europe without a minimum deposit?
Yes, some European banks, especially online ones like Wise Business, Revolut, N26, and Onemoneyway, allow businesses to open accounts with no minimum deposit. However, traditional banks may still require an initial deposit, usually ranging from €100 to €5,000, depending on the country and business type.
Do I need to be a European resident to open a business bank account in Europe?
Not necessarily. Many European banks accept non-residents and foreign business owners, but the process may involve additional paperwork. Online banks and fintech solutions often make it easier by offering remote account setup for international businesses. Some countries, like Estonia and Lithuania, even provide e-Residency programs that allow global entrepreneurs to open EU business accounts.
What is the easiest country in Europe to open a business bank account?
Countries like Germany, the Netherlands, Estonia, and the UK are known for their business-friendly banking policies. The Netherlands and the UK have banks that offer quick setup and low deposit requirements, while Estonia’s e-Residency program makes opening a bank account easy for international businesses.
Are there hidden fees when opening a business bank account?
Yes, some banks charge monthly fees, transaction costs, or foreign exchange markups, even if they offer a low or no minimum deposit account. Always check for maintenance fees, wire transfer costs, and minimum balance requirements before opening an account.
Can a foreign company open a multi-currency business account in Europe?
Yes, many European banks and fintech solutions offer multi-currency business accounts to foreign companies. Banks like HSBC, Deutsche Bank, and BNP Paribas provide corporate multi-currency accounts, while online providers like Onemoneyway and Wise Business offer flexible currency exchange options with lower fees.
