Opening a business bank account
A separate business account keeps your company's money apart from your personal finances and makes bookkeeping easier. For a limited company, its own account is practically essential. This guide explains how opening an account works and what banks will ask.
You will need
- Business ID (Y-tunnus) and a trade register extract
- Proof of identity
- A business plan or description of the business
- An estimate of cash flow and payments
- For a limited company, the articles of association and shareholder register
Steps
Compare banks
Compare monthly fees, the price of payments and cards, online banking features and integration with your accounting software. Ask for the price list in writing.
Gather your documents
Prepare for due diligence questions
Apply for the account
Limited company: pay in the share capital
Choose additional services
Connect it to your accounting
Keep the money separate
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