An account for payouts is mandatory, but it is not always a business one: payouts can go to a bank card as well. Companies work only through a business account, while sole traders and the self-employed choose what suits them.
What to choose
- Companies. A business account only: payouts go to the legal entity under the contract.
- Sole traders. A business account is easier for bookkeeping, but a card is allowed.
- The self-employed. Usually a card — their tax regime needs no separate account.
Why an account beats a card
- Personal and business money stay separate, which matters during inspections.
- Fewer limits on incoming amounts.
- A bank statement is more familiar to accounting and easier to reconcile with the register.
The terms for sole traders are on the sole trader acquiring page.
