What can you do with the Business Account?
With a Business Bank Account, you can send money or receive transfers to and from other accounts. It isn’t currently possible to send to or receive from accounts to other currencies.
Plus, when you sign up for a Business Bank Account, you’ll receive a free SumUp Mastercard, allowing you to make payments online and in-person and withdraw cash from an ATM. Find more information on withdrawal limits and SumUp Card fees here.
What does the Business Account cost?
There's no monthly fee or sign up costs to open a Business Bank Account. Plus, ACH transfers are completely free of charge.
How do I add money to my Business Account?
You can either put money directly into your Business Account by transferring funds in from somewhere else or you can change your payout settings so the payments you receive via a SumUp payment solution (card reader, invoicing, etc.) are paid into your Business Account.
How do I send money from my Business Account?
You can easily send money with the Business Account from either your SumUp profile or the app. Likewise, you can also receive transfers from other accounts.
As an additional protection, your Business Account comes with default transfer limits.
How do I know how much money I have?
Easily check your account balance on the SumUp App by tapping “Account” on the Home screen. In the upper left corner you can view your current balance.
You can also download account statements to help with your accounting.
Can I open multiple accounts?
Business Accounts are limited to one account per business. You’re free to open multiple businesses, however each must have a unique email address and SumUp profile.
Does SumUp charge interest?
No, we don’t charge interest on Business Bank Accounts.