The bank account of a self-employed person: that's where everything begins and ends. For sole traders, opening a business bank account isn't mandatory, but we strongly recommend it. This way, you start with a head start.
On this page, we compare the different business bank accounts, so you know exactly which one suits you.
For sole proprietors (natural persons), opening a professional bank account is not mandatory, but highly recommended.
You can open a professional bank account in your name at a bank of your choice. If desired, you can opt for a current account with minimal services and fees. For example, for those self-employed in a secondary occupation, a current account with a bank card and the ability to perform online transactions often suffices. This also helps to reduce costs.
Although you should keep your private and business bank accounts as separate as possible, as a sole proprietor you can transfer funds between them without limits. You own the money in your business account and do not need to justify transferring money to your own account.
However, be careful not to book transfers from your private to your business account as professional income – you certainly don't want to pay taxes on this. Our app allows you to classify these types of transactions as a private transaction or transfer of capital.
For self-employed individuals in a company, having a separate business account is not only advantageous but also mandatory.
As a company director, you have no choice but to open a professional account in the name of your company. This bank account number is listed on all your invoices and is registered in the KBO register.
Therefore, you select this account – in the name of your company – from the various professional offerings available at the banks. These often include several attractive features for legal entities, such as a professional credit, for example. Generally, the banks have a basic offering to which you can add various options, such as payment terminals or a fuel card, tailored to your needs and budget.
Finding the best bank for opening a business account doesn't have to be a complex task. Look for the bank account that best suits your professional activity and meets your needs. For instance, as a self-employed professional, you probably need fewer services than a business manager in a private limited company.
Here are some interesting criteria to consider in your search for the best business account for your company:
When you're looking for a new bank, you'd almost forget that we're already living in the year 2026. At many banks, you still have to visit a branch to open a professional account.
However, through these banks you can quickly and easily open your business bank account from your sofa or office chair:
Other banks such as Argenta, Beobank, Crelan, Europabank and VDK bank naturally also have professional accounts, but you have to visit a branch to open one.
For self-employed persons with a sole trader business, the costs for opening a business account are usually quite reasonable.
Sometimes it's even completely free, such as with Accountable Banking or Hello Bank. Or when you're already a customer at a bank, you can sometimes open a business account at a favourable rate or get a discount on your private account.
A professional bank account for legal entities (companies), on the other hand, is generally not free. Most banks have two to three packages from which you can choose. Compare the offerings and included services carefully and determine what you need exactly.
Bank charges such as registration and administration fees are tax-deductible expenses. This means you may deduct the cost from your income to reduce your net taxable income. Connect your bank account to our app and we’ll remind you to record bank charges as a business expense.
If you want more information about a product or are seeking other advice, you can contact an adviser for business banking at most banks.
Some banks also offer support when starting up as a self-employed person. For example, they often work together with a social insurance fund and apply for a business number for you.
Furthermore, some banks offer starter packages with all kinds of benefits, such as one year's free business account and discounts with partners.
Are you a starting freelancer? Be sure to check out these starter packs:
N26, Revolut, Qonto, Bunq, and their peers: neobanks have gained popularity in Europe in recent years, offering a 100% mobile banking experience.
Their apps are user-friendly, and their rates are attractive. However, as a self-employed individual based in Belgium, you might feel their limitations:
For businesses, neobanks are often not suitable as a main bank: integrations with accounting software, batch payments, multiple users with roles, approval workflows and extensive export formats are sometimes limited or completely absent. You also don't build up a relationship to potentially take out a loan later.
Should you now opt for a local, traditional business bank or a trendy, international neobank? The choice is entirely yours.
Did you know that as a sole trader with Accountable Banking you can open a free business account that's linked to our accounting platform? This way you manage all financial matters within one app. And moreover, via Accountable Banking you can automatically set money aside in pots for your VAT, taxes and other fixed costs.
Open your free business account with Accountable Banking now
Other interesting reads:
What is Accountable Banking?
Can you use your (personal) credit card for professional expenses?
How to link your bank account to Accountable
Author - Alexis Eggermont
Alexis is co-founder at Accountable. He is passionate about leveraging data, AI, technology, and entrepreneurship.
Who is Alexis ?Thank you for your feedback!
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