Banks with whom we have a Working Relationship

Below is a brief description of the banks providing business accounts for clients based in Berlin. My description is to be understood as polite though straightforward. My intention is for you to know what to expect from the bank you wish to chose. Do not expect to get any credit line upfront without recent banking history and / or before having an account for several months reflecting that you really have turnover. Special wishes are to be discussed with the banker – and not us! My function is exclusively to liaison with a bank that they may open an account for your company. An ATM withdrawal is “free”, if the bank does not charge you when you withdraw cash from another bank.

N.B. Though you might get an account number quickly, accessing the account is limited until the company is fully existent. You can fund the company but not withdraw anything until the new company is registered in the Commercial Registry and the bank has been informed of this.

 

English

Description

How to Apply

(Dis)advantages

Penta Bank - your bank for remote foundings

Penta Bank

no issue private fintech start-up in liaison with Solaris Bank who formally holds the banking license stupid simple and easy: just register online, they need 48 hours to open the account. Have your official ID passport at hand, be in quiet surrounding for an audio / video interview which will only last a few minutes no personal banker available as this is an online bank without any retail outlets

Berliner Sparkasse

only in oral communication, limited to three persons in the call center which is manned with bankers

local, public bank, free ATMs wherever a Sparkasse is, be it in or outside Berlin

personal appearance at a bank might be required; ID must be notarized, original copy of notarized ID as well as original signatures on bank contracts must be submitted, to test the bank's willingness PDF copies are accepted

small businesses are exclusively served via call center, only three people speak English, no contracts / forms available in English; personal banker speaking English for clients with prospective turnover above 150 k€

Berliner Volksbank

only orally with the head of international department or his assistant

Local, credit union, free ATMs wherever there is a Volks- and Raiffeisenbank, be it in or outside Berlin

personal introduction to a banker in order to apply for a bank account is a “must”. Translators are not permitted because they want personal, face-to-face communication, to test the bank's willingness PDF copies are accepted

insist on a proof of real intended activity via a business plan and intended capital flow

WireCard

everything in writing and everyone orally

International online bank, free ATM withdrawals at all banks, offers foreign currency accounts,

no personal appearance at a bank is required / conceptually wanted; ID as well as other documents (identified in the individual case must be notarized typically from German consul and submitted as originals

€ 250 setup fee.

Deutsche Bank

bank statements, contracts and general information available in English

international bank, offers foreign currency accounts, free ATM withdrawals at any Deutsche Bank or member of their big cash pool, be it in or outside Berlin

personal introduction to a banker in order to apply for a bank account is a “must”; to test the bank's willingness in preparation of the personal interview PDF copies are accepted

They need about 2 - 3 months until they have internally processed your application / are conceptually willing to accept you as a client. Even after identifying their conceptual willingness to take you as a client and inviting you to a face-to-face interview, the interview does not practically mean that you have made but that you are halfway there at having an account with them

HypoVereinsbank
Univlever

not an issue

international private bank, interested mainly in physical persons from Europe founding a corporation in Germany – regardless of residence; Americans or Canadians are also welcome

I have to first introduce you and your company without any guarantee of acceptance on their side.

They need a few weeks to process the application in order to determine whether the applicant is welcome or not.

Bank of China

depends on the individual banker, some speak better German and some speak better English – as all bankers are Chinese, they all speak Mandarine

public bank of China, interested in serving Chinese in Germany or abroad

After I have brought them the originals of the founding documents and your notarized ID, they will personally call you on the phone with further questions on your banking needs

If you are neither Chinese nor have commercial interests in China best go to a different bank.