Create Sub-Accounts with a few clicks to put aside tax reserves, manage teams or save for investments. Take advantage of a fully-functional bank account.
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Sub-Accounts are just additional accounts on top of your already existing main account with Penta. Each of these accounts comes with an individual IBAN, allowing you to receive and send payments from Sub-Accounts.
With each Sub-Account, you can view transactions, and perform single or multiple payments. You can also download the bank statements or export your transactions, just like you know it from your Main Account.
Sub-accounts offer many advantages for your business. Sub-accounts are a simple and straightforward way to separate funds for different projects, expenses, or different business locations. Sub-accounts also allow you to set aside reserves for future tax liabilities and scale the right areas of your business by opening a sub-account for each of your company’s products or services.
Sub-accounts also provide a clear view of the profitability of your business units, the different markets your company operates in, or the future investments you plan to make.
Sub-accounts can be created with a couple of clicks via the Penta WebApp in the Accounts menu, as long as you are an Admin on your already-existing account.
While you create your Sub-Account, we ask you to verify that the business details we hold about your business are still up-to-date. You will also have to accept the Terms & Conditions of our banking partner, which are the same Terms & Conditions that you accepted during the creation of your very first Penta account.
If you use the Starter plan, you can create one additional sub-account. In the Comfort plan, you have up to four sub-accounts included. You also have the option to flexibly add individual sub-accounts for €4 / month.
Administrators have access to all sub-accounts. In addition, you can grant your team individual access to the sub-accounts via the user permissions in the menu item “Users and cards”. You can decide whether they can only view the accounts or also prepare and send payments.
Once you have created your sub-account, you can see it on the home screen in the web app, in the list of existing recipients in the “payments” menu, and in the mobile app.
Start by selecting the account you want to transfer money from. You can manually click on the sub-account or drag and drop to do an internal transfers. In the second step, enter an amount and confirm the internal transfer. No TAN is required for internal transfers between your accounts.
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