Question 1

Can I open a business current account without a Chamber of Commerce (KvK) number?

Accepted Answer

Since January 1, 2010, every entrepreneur must be registered with the Chamber of Commerce. Without a KvK number, it is not possible to open a business current account or Startup or Entrepreneur Package with ING. Exceptions to this are:

Informal associations
Religious communities (excluding umbrella organisations)
Public bodies (municipalities, provinces and other governmental bodies, etc.)
If you are receiving assistance from the Netherlands Foreign Investment Agency (NFIA), or are being assisted by a facilitator via the Netherlands Enterprise Agency, please follow the account opening process outlined on the website of the Dutch banking association (NVB).

Question 2

Can I use my business current account for personal purchases? How does that work?

Accepted Answer

No, the business current account is exclusively for transferring, depositing, receiving, and withdrawing funds related to the profession or business of the account holder. See article 5.1 of the Terms and Conditions and other business regulations.

Question 3

Can I overdraw on a business current account?

Accepted Answer

Every so often, you need a bit of extra space in your finances. To purchase extra inventory, for example, or when you're wating for a customer to pay. Overdrafts are available from €5,000. Approval is subject to individual circumstances

Question 4

Can I open a business current account if I have a BKR registration?

Accepted Answer

When you want to open a business current account with us, the register of the Credit Registration Office (BKR) is checked to see if you have outstanding credits and payment arrears. You can find out what your registration is with a BKR check. A so-called negative BKR registration can result in us not being able to accept you as a business customer.

Question 5

What else can I apply for if I have a business current account?

Accepted Answer

Once you have your account number and access to My ING Business, you decide for yourself if you need other things. Many entrepreneurs also have:

Integration with accounting software: you can easily arrange this yourself, and it is free for the first 6 months with the Startup business package.
Business card: a business credit card linked to your business current account.
Tailored insurance: such as business liability insurance or business car insurance.

Question 6

How do I switch my business current account from another bank to ING?

Accepted Answer

What a great idea! You can do this trough free switching service (Overstapservice in Dutch). We direct your debits and credits to your business current account with us for 13 months. And companies that collect money from your old business current account will automatically receive your new account number.

Question 7

How do I close my business current account?

Accepted Answer

You can easily close your business current account in My ING Business (online banking).

Are you independently authorized? You can close the account yourself.
Are you jointly authorized? We will need the second representative to agree with closing the account. They can do this via 'My Requests' in My ING Business after you have cancelled the account.

Question 8

Why do I have to pay for customer research?

Accepted Answer

Combating financial-economic crime, such as money laundering, corruption, and terrorism financing, is important because this type of crime can undermine trust in the entire financial system. Financial institutions, including ING, have a gatekeeper function in combating it. We do this by detecting and stopping criminal money flows. This research costs money, and we pass on part of these costs to business customers. The exact amount depends on the legal form you have and the complexity of your business structure.

Question 9

Can I open a business current account as a minor?

Accepted Answer

Are you an entrepreneur and not yet 18 years old? That is a great achievement. Unfortunately, the law still considers you 'legally incompetent'. This means you cannot enter into a business agreement, including opening a business current account. A statement of emancipation of a minor is the granting of powers to a 16- or 17-year-old that otherwise only belong to adults. Because this is a court document, we need an official copy of it. With this document, you can apply for your account at an ING office.

Question 10

Can I apply for a business current account for a private limited company or public limited company in formation?

Accepted Answer

No, that is not possible. Only when the formation of a private limited company ('besloten vennootschap' or 'BV) or public limited company ('naamloze vennootschap' or 'NV') is completed, can you apply for a business current account.

Question 11

Can I apply for a business current account if I have not registered the UBO(s) in the UBO register?

Accepted Answer

This depends on the legal form of your organisation. For example, a sole trader does not need to register the 'ultimate beneficial owner' (UBO), but a bv (private limited company) or nv (public limited company) does.