Kontist is a start-up company from Berlin and therefore not a commercial bank in the classical sense. The company acts as FinTech and provides an account, but it does not act as the account-holding bank. This task lies with Solaris Bank, which also has its headquarters in Berlin. Kontist’s approach is interesting in principle, because with a free account the account holder receives a largely free account in which services are reduced to the essential aspects for freelancers and tradespeople.

Services of the Kontist Free Business Account

An app is offered for account management. The account holder is informed about all account movements via push messages and is kept up to date on his account balance in real time. Sub-accounts or a second current account cannot be set up per customer. In addition to the already included virtual credit card, a plastic credit card for the business account is optionally available. It is managed on a credit basis. The bank does not grant a credit line for the VISA credit card nor an overdraft credit for the account. Cash deposits are not offered, a credit can only be deposited by means of bank transfers to the account.

For whom is the Kontist Free business account suitable?

The Kontist Free Business Account is especially suitable for professionals and freelancers who are still at the beginning of their professional development and who do not yet have any employees. Legal entities such as the Unternehmergesellschaft haftungsbeschränkt or the GmbH are not allowed to use Kontist Free at the moment.

Prices & Conditions of the Kontist Free Business Account

Account management with Kontist Free is free of charge. There are also no fees for booking items. Costs are incurred if a return debit note is booked or if research orders have to be placed. These services are not part of the usual banking routine and are therefore subject to charges.

The plastic credit card is charged at an annual rate of 29 euros, the virtual credit card is already included. If the turnover on the plastic card exceeds 3,000 euros, the annual fee is waived. Payments in a foreign currency cost 1.7 percent of the turnover. Two euros are payable for each cash withdrawal with the credit card. The card turnover of 120,000 euros per year may not be exceeded. This framework should be sufficient for self-employed persons who do not yet run a company that is too large.

Special features of the Kontist Free business account

Kontist Free is a creation-free account. The account holder does not have to provide any Schufa information. This is rather rare for business accounts, but can be advantageous for self-employed persons who cannot open a business account with an overdraft limit due to a Schufa entry.

Another special feature are the additional services, because Kontist offers a quite extensive accounting function for the account, which a self-employed person would otherwise have to buy from another provider. Both for the bookkeeping and for the calculation production partner programs are available, with which the business account can be linked. Kontist then classifies each entry in the accounting, the process runs with the help of the learning program more and more accurately. This saves the self-employed an enormous amount of time, which they no longer have to spend on their bookkeeping. Anyone who has hitherto employed a tax consultant can significantly reduce these costs.

Advantages and disadvantages of the Kontist Free business account

The Kontist Free is reduced to the essential services such as the actual account management and the processing of cashless payment transactions. This means that essential functions are covered free of charge. The account is also suitable for self-employed persons who are not allowed to open an account with a credit line due to a Schufa entry. However, the disadvantage is that no overdraft facility is granted.

Open Kontist Free Business Account

The account is opened digitally, the PostIdent procedure is replaced by a voice function and video identification. For the opening, the most important personal data must be kept ready, and the tax identification number must also be provided. If desired, the PostIdent procedure can also be used for identification.