ING Germany Restricts Business Account Openings for Certain Legal Forms
ING Germany has clarified restrictions for opening new business accounts, stating that forms like GmbH & Co. KG and GbR, as well as entities with corporate ownership, are no longer eligible.
ING Germany has updated its criteria for opening new business accounts, announcing that certain legal forms will no longer be eligible. This includes structures such as GmbH & Co. KG and GbR, as well as companies with participation from other legal entities.
The bank introduced new business banking options for its partner network, but encountered issues, necessitating these clarifications. The restrictions are effective immediately for new applications.
Eligible legal forms for a business account with ING Germany now include limited liability companies (GmbH) whose owners are natural persons. Sole proprietorships (e.K. and unregistered merchants) operating under their own name can also open accounts.
ING advises potential clients to verify their company's legal form against the new requirements before submitting an application. Specific guidance is also provided for certain merchant categories regarding industry and economic sector selection during the application process.
The bank indicated that a more comprehensive solution for the previously excluded legal forms is anticipated next year, and customers will be informed once it is available.