A corporate account in a German bank for E-commerce companies – from 3,999 EUR

Banks are often reluctant to open accounts for the companies involved with electronic commerce. At the same time, the number of such companies is rapidly growing all around the world. If you are looking for a reliable bank in a reputable European jurisdiction for your E-commerce company, you may be interested in considering a German bank that we describe below. This bank specializes in providing financial services to the companies engaged in electronic commerce. The account can be opened remotely.  

Important: a corporate account in the German bank will suit only the companies involved with E-commerce and processing activities.

The bank does not have any minimum initial deposit nor minimum balance requirements. You can set up an account there without leaving the comfort of your home. What you will have to do is fill out the application forms and submit the full package of the required documents.

When you have a corporate account with the German bank, you will gain access to the online banking facilities that allow making all the necessary transactions at any point in time and wherever you are in the world (provided there is Internet connection, of course).

All the deposits in the bank are insured for up to 100,000 EUR.

The bank’s mission

The bank was established by highly experienced E-commerce specialists who wanted to cater to the needs of online merchants. Apart from the expertise in providing traditional banking services, the bank officers have substantial knowledge about entrepreneurship and they are especially keen on the specifics of electronic commerce in Germany in particular.

The bank was established with the purpose of providing special services and products to E-commerce companies that would facilitate their growth and development. The bank sees the companies that it services as partners rather than clients. The German bank is a division of Deutsche Kontor Privatbank AG.

The bank management team understands the needs of E-commerce companies very well. It can offer most effective solutions of various finance, payment, credit, and other issues.

The German bank offers services to corporate clients exclusively. The support is provided in the German and the English languages.

Financing with the German bank

E-commerce companies are welcome to apply for financing to the German bank. There are several financing options they can choose from.

Corporate credit

The bank offers credits on attractive conditions to the companies that conform to the following requirements:

• The company is registered in Germany;
• The company has been commercially successful for more than three years;
• The company possesses no negative characteristics neither is it in the middle of renovation/ restructure process. 

The major specifics of the credit:

• The loan can be from 50,000 to 250,000 EUR;
• The credit term is from 1 to 5 years;
• The loan is issued within ten days since the date of application;
• There are no hidden fees;
• The whole sum can be obtained at once without any additional cost.

Working capital loan

This type of loan is designed for the companies that need to finance their working capital for up to 250,000 EUR.

Requirements to B2C E-commerce companies:

• The company has a working business model with the annual turnover of not less than 5 million EUR;
• The company has a professional investor;
• The capital ‘burning’ rate is balanced against the annual turnover and liquidity.

Requirements to Saas/ AdTech (B2B/ B2C) companies:

• The company is doing business successfully and its annual turnover exceeds 1 million EUR;
• The company has a professional investor;
• The capital ‘burning’ rate is balanced against the annual turnover and liquidity.

Factoring

You can use different factoring options that the German bank offers and exchange receivables into liquidity.

The main factoring advantages:

• Fast, flexible, and scalable liquidity provision;
• Dynamic growth due to the possibility to maintain liquidity and keep using the operational capital;
• New growth potential thanks to a wider range of clients and improved conversions;
• Lower costs of maintaining the points of contact with clients.

Factoring from the German bank will give you a series of strategic advantages. If your client is late with the payment, you can simply transfer the accounts receivable to the account with the bank.

Bank transactions

A corporate account in the German bank will bring you more advantages than a normal bank account will because the bank services are adjusted to the needs of E-commerce companies. You will have a wide choice of payment solutions that include the following ones:

• Corporate Account;
• Trust Account / Client Account;
• SEPA Wire;
• SEPA Direct Debit;
• iDEAL;
• Sofort;
• Virtual Account Network.

Main advantages:

• The bank services and functions are constantly improved to better serve the needs of companies engaged in electronic commerce;
• All receivables have to be in euros only but outgoing payments can be made in many different world currencies;
• The bank exchange rates are attractive for international businesses.

Additional functions:

• Account management with the help of special online banking software corresponding to the HBCI (Home Banking Computer Interface) standard;
• Banking operations via EBICS (Electronic Banking Internet Communication Standard) for medium-size businesses.

Direct debiting

A debit note rightly used is a source of liquidity for the company and a possibility to enhance the clients’ loyalty. You will have to sign a separate agreement with the bank in order to make use of the debit notes.  

Main advantages:

• No liquidity deficit thanks to the integration of a popular classical direct debiting scheme;
• Automatic processing of the clients’ payments without any unnecessary red tape. 

International transactions

When opening a corporate account in the German bank that we are promoting here, you gain access to all the advantages of doing business on the international scale. If you want to make an international payment, simply enter the transfer details into the online banking application. Later you will receive the payment confirmation when the money arrives on your counteragent’s account.

When your European clients make payments in their national currencies, the German bank will take care of converting them into euros.

The procedure of opening a corporate account with the German bank

The procedure of setting up a bank account in Germany consists of the following steps:

1. If you believe this is the right choice for you, please apply to our specialists for professional advice by writing to [email protected].
2. The service payment in the amount stated above can be made by a bank transfer, a credit card, or via WebMoney, PayPal, Western Union, and other payment systems.
3. Then you will have to supply all the required documents to us. We will inspect the document package for completeness and provide the bank application forms to you to be filled in.

Documents required for establishing a corporate account for your E-commerce company in the German bank

Every company beneficiary, legal representative, and account user who will have access to the internet banking facility will have to supply the following documents:

• A notarized copy of the foreign passport (the pages carrying the photograph and the signature);
• A proof of address – the original or a simple copy of a utility bill less than three months old;
• Confirmation of the sources of capital such as a tax return or a payroll.

The required corporate documents:

• A notarized copy of the Certificate of Incorporation or Certificate of Registration;
• A notarized copy of the Memorandum and Articles of Association;
• A notarized copy of the Certificate of Good Standing (if the company has been in operation for over six months) or a notarized copy of the Certificate of Incumbency;
• A notarized copy of the Director Appointment Resolution, Power of Attorney, or other suchlike document;
• A copy of Trust Declaration (if the company has a nominee shareholder).

Important: All documents have to be translated into German or English and translations apostilled. The apostil can be obtained for a bound set of application documents. The documents have to be apostilled in the national state where the company is registered.

The bank reserves the right to request additional documents should the need arise.

Please note that in case the company has a complex ownership structure some additional account opening dues may be applied.

The account is set up remotely after all the completed application forms and legalized documents have been submitted to the bank for consideration.

The process of corporate account opening in the German bank takes at least twenty business days.

If you want to launch this process straight away, please contact us via e-mail [email protected]. If you would like to have some additional information pertaining to the opportunity described above, please do not hesitate to write to the same address. We will be happy to assist you in opening a corporate account in Germany.