Business account and bank account for minors

In short: Minors can hold a youth account with their parents’ consent. A separate business account is not mandatory for a small business, but a separate account makes bookkeeping easier.

In more detail: Banks usually require the parents’ signature for minors. A classic business account may be refused because minors have limited legal capacity. Alternatively you keep a second youth account only for the business income and expenses.

In detail

• Separation: keep business and private payments in separate accounts, it saves work with the tax office.
• Overdraft: usually excluded for minors.
• Payment services: PayPal and Stripe often require adulthood; parents can hold the account in their name, but this must be settled properly for tax and legal purposes.
• Proof: present the registration and approval if the bank asks.
• Costs: youth accounts are often free.

See also: Tax reserve and private withdrawals, Parental consent (§ 107 BGB)