Saving Big on Business Giro Accounts: A Guide for Freelancers and Companies
Consulted on assorted matters: the Commission's involvement
Business checking accounts can be a significant expense for entrepreneurs and companies. But with some savvy decision-making, you can slash costs and potentially save up to 925 euros per year.
Let's dive into the details and help you find the perfect balance between cost-effectiveness and quality service.
The Secret to Lower Giro Account Costs: Transaction Fees
Unlike consumer checking accounts, businesses pay for each individual transaction. The more transactions you make, the higher your monthly costs. To save money, focus on the account management fee and free transaction limits to keep expenses in check.
Choosing the Right Account: Small Business Edition (up to 200 transactions monthly)
When selecting a Giro account for a small business, consider the number of transactions you'll make each month. For businesses handling around 80-200 transactions, these options are worth considering:
- C24 Bank
- Offers a no-fee business Giro account.
- Standout feature: a free Girocard included.
- Ideal for businesses seeking low-cost accounts with essential card access.
- Note: Customer service is only in German.
- N26 Business Account
- Free basic business account.
- Best for digital-savvy businesses that appreciate English support.
- Includes a Girocard and modern mobile banking features.
- Ideal for businesses with moderate transaction volumes.
- The free tier covers basic needs but may charge for premium features.
- Traditional Banks
- Big banks like Deutsche Bank, Commerzbank, and ING offer business accounts, often with monthly fees but solid services.
- Some banks waive fees if specific conditions like minimum deposits are met.
- Volksbank and 1822direkt have offers for younger entrepreneurs or certain business types.
By choosing a bank with low or no transaction fees and using their free transaction allotment wisely, you can significantly reduce costs.
Larger Companies' Giro Account Needs
Big businesses with extensive transaction volumes need different terms. Assess monthly fees, transaction costs, and any bundled services to find the most cost-effective option for your enterprise. If you process over 200 transactions monthly, keep these regional banks in mind:
- Sparkasse Ansbach - Top rated for data protection and offering a competitive rate.
- Sparkasse Marburg Biedenkopf - Another top-rated regional bank with an attractive price point.
- Berliner Volksbank - Boasts high marks for data protection and offers a competitive deal.
- Volksbank Darmstadt Mainz - Competes with the best national banks in terms of data protection and affordability.
- Ostsächsische Sparkasse Dresden - Ranks among the most affordable options while maintaining strong data protection.
Costs vs. Personal Service: The Big Bank Dilemma
Although the price differences among banks can be substantial, smaller local banks might offer personal support that you value. Remember, cost-effective and personal service aren't mutually exclusive. By doing your homework and comparing various options, you can find a bank that caters to both your budget and service needs.
Once you've chosen your new bank, take the time to inform business partners and the tax office about your updated account details. Don't forget to consider any transition costs, such as printing new letterheads, before making the switch.
Data sources: ntv.de, awi
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[1] Data about the latest banking fees and offerings for business Giro accounts in Germany, as of mid-2025.
[2] For businesses that require a free Girocard, strongly consider the C24 Bank as an option. While they offer a cost-effective solution, their customer service is currently only available in German. If you're seeking English support, the N26 Business Account may be a better fit, as it provides an English-friendly banking experience and includes a modern mobile app for easy account management.
- Understanding community policies and personal-finance strategies can help freelancers and companies in their decision-making process when selecting a business Giro account, considering that some banks may charge higher fees or have limited services for non-native German speakers.
- When it comes to larger companies dealing with over 200 transactions monthly, it's crucial to assess not only transaction costs but also bundled services such as data protection, to find the most cost-effective option while ensuring a balance between affordability and personalized service.
