4 ms·

Uh oh, I was considering opening an account with them… actually they couldnt in July, because of their IT transition. Maybe I‘ll pick a different one. Any recom

by ant6n 3y ago

Uh oh, I was considering opening an account with them… actually they couldnt in July, because of their IT transition. Maybe I‘ll pick a different one. Any recommendations for a good Business Account in Germany?

V__ 3y ago
Sadly, business accounts are kinda all over the place. I use Kontist, but it's pretty basic. You could also look into your local Sparkasse, it should have everything you need.
- konschubert 3y ago
  Revolut?
  - V__ 3y ago
    It's a UK bank with a Lithuanian subsidiary. Which is fine, but means you don't have a German account number, nor an easy way to sue/contact if legal problems arise. The latter is rather unlikely to be a concern, but the former might be a pain to deal with, depending on your customers. A lot of companies have rules which require double-checking every transfer to non-German accounts. Suddenly, your payments take a few weeks longer to arrive.
    - konschubert 3y ago
      I’d say that’s an issue with those companies but of course that doesn’t help the situation
    - tough 3y ago
      N26 is German fwiw similar to Revolut
      - V__ 3y ago
        N26 has a history of problems. I would recommend staying as far away as possible.
        nyreed 3y ago
        Could you elaborate on that? I've not been aware of any.
        V__ 3y ago
        I'm just gonna link a few German articles. They seem to have reestablished their phone hotline by now, but I don't think they have changed their "move fast and break things" attitute. [1] https://www.anwalt.de/rechtstipps/erneute-probleme-bei-n26-bank-sperrt-konten-und-friert-gelder-ein-wir-holen-ihr-geld-zurueck-202091.html https://www.anwalt.de/rechtstipps/erneute-probleme-bei-n26-b... [2] https://www.businessinsider.de/wirtschaft/einem-n26-kunden-werden-80000-euro-gestohlen-und-die-bank-ist-ueberfordert-2019-3/ https://www.businessinsider.de/wirtschaft/einem-n26-kunden-w... [3] https://www.businessinsider.de/gruenderszene/business/n26-erneute-probleme/ https://www.businessinsider.de/gruenderszene/business/n26-er...
        tough 3y ago
        Well, since we were just talking about how dysfunctional IT traditional banks are in germany, maybe in this context a -move fast and break things- attitude is appreciated?
        V__ 3y ago
        I think the difference is, as a customer I don't care how dysfunctional their internal IT is, as long as the customer facing IT and support "works".
      - ant6n 3y ago
        N26 is not for corporations (GmbH, UG) so cannot be used for most startups. they have poor ratings. I tried Finom, but the experience was abysmal. They behave like some sort of shady porn subscription, not a place I would want to entrust my money with. I’m not sure about giving money to these Neobanks. They’re not really cheaper, and have so many downsides.
fxtentacle 3y ago
I've been with Deutsche Bank for 14 years and it has been mostly smooth sailing. Some things require calling my account manager and/or driving to their local office with my ID card and their contract forms are ridiculously lengthy, but overall I can't remember any major issue. I use the Banking4 app for online access and import into Agenda bookkeeping. For Sepa deductions from my customers, I can import CSV files through Banking4 and then submit them with HBCI. Oh and don't be afraid to ask for rebates. Good behaviour in the past may allow you to get lower fees, because then you're lower risk for them.
rad_gruchalski 3y ago
I use Volksbank and I’m really happy.
- ahartmetz 3y ago
  Volksbank, Raiffeisenbank, and Sparkasse are not the cheapest but very solid. They are typically too small and local to be host to the sort of high-powered CEO that optimizes shareholder value and then takes the golden parachute when it crashes. (Actually, some of them are legally cooperatives, too lazy to look up which is which.)

by ant6n 3y ago

V__ 3y ago

Sadly, business accounts are kinda all over the place. I use Kontist, but it's pretty basic. You could also look into your local Sparkasse, it should have everything you need.

konschubert 3y ago
Revolut?
- V__ 3y ago
  It's a UK bank with a Lithuanian subsidiary. Which is fine, but means you don't have a German account number, nor an easy way to sue/contact if legal problems arise. The latter is rather unlikely to be a concern, but the former might be a pain to deal with, depending on your customers. A lot of companies have rules which require double-checking every transfer to non-German accounts. Suddenly, your payments take a few weeks longer to arrive.
  - konschubert 3y ago
    I’d say that’s an issue with those companies but of course that doesn’t help the situation
  - tough 3y ago
    N26 is German fwiw similar to Revolut
    - V__ 3y ago
      N26 has a history of problems. I would recommend staying as far away as possible.
      - nyreed 3y ago
        Could you elaborate on that? I've not been aware of any.
        V__ 3y ago
        I'm just gonna link a few German articles. They seem to have reestablished their phone hotline by now, but I don't think they have changed their "move fast and break things" attitute. [1] https://www.anwalt.de/rechtstipps/erneute-probleme-bei-n26-bank-sperrt-konten-und-friert-gelder-ein-wir-holen-ihr-geld-zurueck-202091.html https://www.anwalt.de/rechtstipps/erneute-probleme-bei-n26-b... [2] https://www.businessinsider.de/wirtschaft/einem-n26-kunden-werden-80000-euro-gestohlen-und-die-bank-ist-ueberfordert-2019-3/ https://www.businessinsider.de/wirtschaft/einem-n26-kunden-w... [3] https://www.businessinsider.de/gruenderszene/business/n26-erneute-probleme/ https://www.businessinsider.de/gruenderszene/business/n26-er...
        tough 3y ago
        Well, since we were just talking about how dysfunctional IT traditional banks are in germany, maybe in this context a -move fast and break things- attitude is appreciated?
        V__ 3y ago
        I think the difference is, as a customer I don't care how dysfunctional their internal IT is, as long as the customer facing IT and support "works".
    - ant6n 3y ago
      N26 is not for corporations (GmbH, UG) so cannot be used for most startups. they have poor ratings. I tried Finom, but the experience was abysmal. They behave like some sort of shady porn subscription, not a place I would want to entrust my money with. I’m not sure about giving money to these Neobanks. They’re not really cheaper, and have so many downsides.

fxtentacle 3y ago

I've been with Deutsche Bank for 14 years and it has been mostly smooth sailing. Some things require calling my account manager and/or driving to their local office with my ID card and their contract forms are ridiculously lengthy, but overall I can't remember any major issue. I use the Banking4 app for online access and import into Agenda bookkeeping. For Sepa deductions from my customers, I can import CSV files through Banking4 and then submit them with HBCI. Oh and don't be afraid to ask for rebates. Good behaviour in the past may allow you to get lower fees, because then you're lower risk for them.

rad_gruchalski 3y ago

I use Volksbank and I’m really happy.

ahartmetz 3y ago
Volksbank, Raiffeisenbank, and Sparkasse are not the cheapest but very solid. They are typically too small and local to be host to the sort of high-powered CEO that optimizes shareholder value and then takes the golden parachute when it crashes. (Actually, some of them are legally cooperatives, too lazy to look up which is which.)