Intercompany Solutions: Neobank Costs and Due Diligence for Dutch Formation

Founders launching a newly formed Dutch BV often consider neobanks such as bunq as a faster and cheaper alternative to traditional banks. The appeal is clear: lower monthly fees, digital onboarding, and the promise of rapid account approval. Intercompany Solutions clarifies that the reality is more complex. Neobanks are still banks and conduct full due diligence on new accounts. Lower fees do not translate to lower approval standards or faster timelines. Understanding this distinction is essential when choosing the right bank for your new company.

What Neobanks Are and Why Founders Consider Them

A neobank is a digital-first financial institution operating primarily through a mobile app with minimal physical branches. Neobanks aim to offer streamlined onboarding, lower overhead costs, and therefore lower customer fees. In the Netherlands, bunq is a prominent example accepting business accounts for newly formed Dutch BVs. Intercompany Solutions' guide notes that bunq offers three distinct pricing tiers for Dutch companies: Core Business, Pro Business, and Elite Business plans. The appeal for new founders is that neobank monthly fees are substantially lower than traditional bank fees. This cost advantage is real and meaningful if you prioritize price. However, cost is only one dimension. Approval likelihood and timeline matter equally when selecting a bank.

Bunq Pricing: Core, Pro and Elite Plans for Dutch Business Accounts

Intercompany Solutions confirms that bunq's Core Business plan costs EUR 7.99 per month, the Pro Business plan is EUR 13.99, and the Elite Business plan is EUR 23.99, effective August 2026. These prices are dramatically lower than traditional Dutch banks charge. Bunq's pricing is one reason it appeals to cost-conscious founders. However, the monthly fee is only one dimension of the total cost calculation. Compare approval likelihood, time to account activation, included services, transaction limits and whether the plan matches your intended business. A cheap monthly fee has no value if your account application is rejected or if the plan does not support your intended use.

Comparing Neobanks and Traditional Banks for New Companies

The following table shows typical differences between neobanks and traditional banks for new company accounts:

Factor	Neobank (e.g., Bunq)	Traditional Bank (e.g., ABN AMRO)
Monthly account fee	Lower, starting at EUR 7.99	Higher, varies by bank
Onboarding method	Fully digital, mobile app	Hybrid or in-person visits required
Due diligence standard	Full, per Dutch banking regulations	Full, per Dutch banking regulations
Approval timeline for new company	1-3 weeks standard	2-4 weeks standard
Typical transaction limits	Varies by plan, moderate	Often higher, varies by bank
Multi-currency support	Often included or low-cost	Often available for a fee

Due Diligence Does Not Vary by Monthly Fee

This is false. All banks, including neobanks, are regulated by the Dutch central bank (DNB) and must conduct anti-money-laundering and know-your-customer checks. Business.gov.nl confirms that banks request business plans, expected turnover and source-of-capital information, and additional requirements differ between banks. This applies to both neobanks and traditional banks. Bunq conducts the same due diligence checks as ABN AMRO or ING, regardless of monthly fee. Your company's legitimacy, your personal identity, your capital source, and the lawful nature of your intended business must be verified. Neobanks do not skip these checks to offer lower fees; they handle them digitally rather than in-person, which reduces their cost structure but not their due diligence rigor.

Approval Timeline: Speed Is Not Guaranteed

Neobanks promise speed, and in some cases they deliver it. Approval timelines depend on how quickly you provide complete documentation, how straightforward your application is, and how rapidly the bank's due diligence team processes it. Intercompany Solutions completes company formation; bank account opening is arranged directly with your chosen bank once formation finishes. Once you submit your application to bunq or another neobank, the timeline is in the bank's hands. Some newly formed companies receive approval within days; others wait weeks if the bank requests additional documentation or has questions about the application. Being newly formed can actually slow approval because the bank has no prior relationship history and must verify all information from scratch. Intercompany Solutions confirms that once a bank is satisfied with due diligence and your application is complete, funds may process in as little as 48 hours. This is a best-case timeline, not a guarantee.

Why Newly Formed Companies Face Extended Due Diligence

A newly formed Dutch BV presents higher risk to banks because the company has no operating history, no transaction history, no banking relationship, and no track record of compliance. The company is days or weeks old. Banks compensate for this lack of history by requesting more documentation, asking more detailed questions, and waiting longer before approving the account. Intercompany Solutions' role is to form the BV; the bank's role is to assess the account application independently. The formation provider does not influence the bank's due diligence or approval decision. If the bank questions the nature of your business, the source of your capital, or your personal background, it will request additional documentation, conduct background checks, or deny the account. These actions are not faster or more lenient for neobanks than traditional banks.

Documents Neobanks Request and How to Prepare

When you apply to bunq or another neobank, expect to provide these documents: your personal identity documents (passport, national ID card), proof of residency (utility bill, lease agreement), your company's formation documents (incorporation certificate, articles of association), a business plan or description of your intended business, proof of capital source (bank statements, investment commitments, loan agreements), and information about beneficial owners. The neobank may also request references, prior business registrations in your home country, or evidence of professional background. Intercompany Solutions produces the formation documentation you need, which you submit directly to bunq or your chosen neobank. Prepare all documentation before applying to avoid delays from back-and-forth requests. Learn why formation intermediaries cannot guarantee bank approval for any bank, neobank or traditional.

Alternative Dutch Neobank Options Beyond Bunq

Bunq is the most well-known neobank in the Netherlands, but it is not the only option. Other fintech providers and smaller neobanks operate in the Dutch market, each with different fee structures, approval criteria, and feature sets. Some serve specific business types or countries; others are broader. The breadth of options means you can find a neobank that aligns with your industry, your transaction volume, and your preferred features. All neobanks in the Netherlands remain subject to the same regulatory requirements for due diligence and anti-money-laundering compliance. The approval process is equally rigorous across all banks: budgeting for account opening timelines is essential regardless of which bank you choose.

The Reality Check: Lower Fees Do Not Equal Easier Approval

Intercompany Solutions clarifies the core message for founders: neobanks offer real cost savings and modern digital experiences. But they do not eliminate due diligence, do not guarantee faster approval, and do not lower approval standards. A newly formed Dutch BV faces the same due diligence scrutiny at bunq as at any traditional bank. Once formation is complete, you coordinate your bank account opening directly with your chosen bank. Plan for a one- to three-week approval timeline even with neobanks, prepare complete documentation before applying, and have a backup bank option if your first choice denies the account. The monthly fee savings are real, but they are not worth a slower overall timeline or a higher rejection risk if you select a bank that does not fit your profile.

Aligning Your Neobank Choice With Your Company Structure

Your neobank choice is a key part of your overall company formation plan. Use this bank account checklist for foreign founders to prepare your application materials before submitting to any bank, and ensure every document is complete and consistent.