Top Bank Accounts for Startups & Freelancers – EU

Top Bank Accounts for Startups & Freelancers

EU
EU – December 2021
  • Benefit from no paperwork, fast approval business bank account
  • Complete control over employee spending
  • Perfect for small businesses & freelancers
Last Updated October 2021
  • No paperwork, fast approval
  • Save time & money
  • Accounting integrations

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Business Banks Pricing Card Regulation Main Advantages Score Open an Account
Free plan More Info Soldo Corporate Mastercard FCA
  • Choose a virtual or plastic Mastercard® debit
  • Capture receipts on-the-spot via mobile app
  • Export data to any accounting system
  • Track your spending in real time
9.8

Payments

Card type
  • Mastercard® debit
Withdrawals
  • Free from your domestic account
Money transfers
  • Free to other Soldo users

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Accounting integration
  • green-check-mark Bookkeeping
  • green-check-mark Invoicing

Security Features

  • Fully regulated by the FCA
  • Authorised by the Central Bank of Ireland

Account Access

Based on 1,081 reviews
Plans 9+€/mo More Info qonto Corporate Mastercard ACPR
  • 30-day free trial – No commitment
  • 1 Business Mastercard included
  • 30 SEPA-transfers and direct debits
9.5

Payments

Card type
  • Business Mastercard
SEPA transfers
  • Free SEPA transfers & direct debits
amount depends on plan type
IBAN accounts
  • 5 accounts with individual IBANs

Accounting Tools

  • green-check-mark Accounting integration
  • green-check-mark Expense Management
  • green-check-mark VAT auto-detection
  • green-check-mark Digital receipts

Security Features

  • Supervised by the ACPR
  • Deposit protection up to 100.000€ by FGDR

Account Access

Based on 4,283 reviews
Plans 4.99+€/mo More Info bunq Corporate Mastercard DNB
  • 24/7 online support via app and email
  • Withdraw & deposit at +10K stores across Europe
9.1

Payments

Account Types
  • ES, FR & DE IBAN, EUR
Free ATM withdrawals
  • 4 per month
in Easy money and Easy green accounts only
International transfers
  • Via Wise (transferwise)

Accounting Tools

  • green-check-mark Bookkeeping integration
  • green-check-mark Multiple tradenames
  • green-check-mark Automatic VAT
  • green-check-mark Invoicing

Security Features

  • Deposit Protection up to €100,000 by DNB
  • Purchase protection & extended warranty

Account Access

Based on 11,700 ratings
Plans from £6/mo More Info Pleo Prepaid Mastercard FSA, PCI
  • Pleo cards for your team
  • Automated expense reports
8.8

Payments

Account Types
  • GBP, EUR
Automated Payments
  • N/A
Domestic Transfers
  • Free
International Transfers
  • 2% /transfer

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Savings tools
  • green-check-mark Bookkeeping
  • green-check-mark Invoicing
  • green-check-mark Xero, e-conomic, Sage, Fortnox

Security Features

  • Fraud monitoring
  • Online card blocking

Account Access

Based on 224 reviews
Free trial
Free plan More Info Neat Corporate Mastercard FCA
  • Best for international freelancers & businesses
  • Collect payments in multiple currencies
8.5

Payments

Account Types
  • GBP, HKD
Currency wallets
  • Direct Debits
Domestic Transfers
  • Free SEPA payments

Accounting Tools

  • green-check-mark Accounting integration
  • green-check-mark Expense Management
  • green-check-mark Bookkeeping

Security Features

  • Authrised by the FCA in the UK

Account Access

Based on 381 reviews
Top rated choice
1
score 9.8
  • Choose a virtual or plastic Mastercard® debit
  • Capture receipts on-the-spot via mobile app
More Info +
2
works in FR, IT, DE, ES
score 9.5
  • 30-day free trial – No commitment
  • 1 Business Mastercard included
More Info +
3
  • 24/7 online support via app and email
  • Withdraw & deposit at +10K stores across Europe
More Info +
4
score 8.8
  • Pleo cards for your team
  • Automated expense reports
More Info +
5
score 8.5
  • Best for international freelancers & businesses
  • Collect payments in multiple currencies
More Info +

Why is it Important to Open a Business Bank Account?

A personal bank account is not intended to confer the same benefits as a business bank account. As a freelancer, sole trader, partnership, or corporation, it’s important to establish a separate identity for your business. Personal accounts are not geared towards business activity. For privacy reasons, your personal account should not be mixed with your business activity.

Debtors, creditors and their banking institutions are much more comfortable dealing with business to business accounts for transactions processing purposes, taxes and invoices. A business bank account establishes credibility, professionalism, and trust. When payroll is needed, a business bank account is a must-have. Separation of personal and business finances is always recommended, especially when business debit cards and/or credit cards are issued to company personnel.

Tax reporting is significantly easier to manage with a business bank account. When a personal account is used for business activity, co-mingling of income and expenses takes place. This complicates matters. Besides, business bank accounts make it much easier for you to effectively control incomes and expenses with your business.

Digital Business Bank Accounts – FAQs

Why is it Important to Open a Business Bank Account?

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A personal bank account is not intended to confer the same benefits as a business bank account. As a freelancer, sole trader, partnership, or corporation, it’s important to establish a separate identity for your business. Personal accounts are not geared towards business activity. For privacy reasons, your personal account should not be mixed with your business activity.

Debtors, creditors and their banking institutions are much more comfortable dealing with business to business accounts for transactions processing purposes, taxes and invoices. A business bank account establishes credibility, professionalism, and trust. When payroll is needed, a business bank account is a must-have. Separation of personal and business finances is always recommended, especially when business debit cards and/or credit cards are issued to company personnel.

Tax reporting is significantly easier to manage with a business bank account. When a personal account is used for business activity, co-mingling of income and expenses takes place. This complicates matters. Besides, business bank accounts make it much easier for you to effectively control incomes and expenses with your business.

How Do I Compare & Choose the Best Bank account for My Business?

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Features Icon
Banking Features
At the core, check for payment options, local and international money transfer services, corporate cards, account types and currencies available as well as invoicing and bookkeeping tools.
Fees Icon
Fees
Look for accounts offering simple & clear-cut plans, minimal or no fees on transfers & payments and free withdrawal options. Note that fees may vary depending on the plan you choose (free plans will often incur higher fees than premium plans).
Corporate card
All business accounts include corporate cards for you & your employees – either through MasterCard or Visa. Check how many cards are included for free in your chosen plan & how much each additional card will cost if required.
Security Icon
Security
The banks we compare & review on Top10BusinessBanks.com are regulated by local authorities. Check for regulations such as FCA (Financial Conduct Authority) or the FCS (Financial Compensation Scheme) in the UK & FIN-FSA, BaFin, DNB, ECB & ACPR in Europe.
Accounting Icon
Accounting tools
Look for built in expense reporting, scheduled/recurring payments & direct debits. Most banks also offer seamless integration with bookkeeping & accounting tools. For example, Qonto integrates with Sage and QuickBooks.
Access Icon
Account Access
Today, some banks offer account access 24 hours a day, 7 days a week. While the majority of providers offer access via both mobile and desktop/web apps, some business banks only offer one or the other so check you have the access you need when selecting your preferred bank.