Personal vs. business account

Whether you need a separate business account depends on your legal form and your bank's terms and conditions (Germany).

When is a business account MANDATORY?

• GmbH, UG (limited liability): YES – mandatory (§7 para. 2 GmbHG). The share capital must be paid into a company account
• AG: YES
• Registered association (e.V.): YES (as a legal entity)

No legal obligation:

• Sole traders
• Freelancers
• Small businesses

BUT: the T&C problem!

• Most banks prohibit business use of a private account in their T&Cs
• Reasons: Money Laundering Act (§3 GwG), higher transaction volume
• Consequences: higher fees, conversion, possible account termination

Cost comparison:

• Private account (direct bank): €0/month
• Business account (traditional): €5–30/month
• Business account (neobank): €0 (N26 Business, Kontist, Qonto Basic)
• Tax advantage: account fees are business expenses!

Recommendation (even without an obligation):

✅ A clear separation makes bookkeeping and tax returns enormously easier
✅ In a tax audit: private and business matters cleanly separated
✅ A professional image with customers and suppliers