Hi there! Welcome to the Penta FAQs! 🎉
We’ve tried to answer everything from “What is Penta 🤔” to banking and future products questions. We really hope this helps. If you can’t find the answer please reach out to us at firstname.lastname@example.org and we will get back to you shortly.
These answers have been last updated on January 20th 2018.
Penta offers a full-fledged German bank account with a German IBAN, and a business MasterCard via solarisBank, Penta’s partner bank. In the future, Penta’s business customers will be able to take advantage of apps and services that will make your business banking really easy.
We’ve partnered with SolarisBank who is providing us with their banking license and some of their technology so that we can provide you with a fantastic business bank account.
At the moment, Penta is only available for German businesses. This includes one of the following company forms: GbR, OHG, PartG, KG, UG, GmbH, AG, eG or eK.
Yes. Your funds are protected by the European Deposit Guarantee Fund that insures all deposits in regulated institutions, such as banks up to €100,000.
We’ve just launched! We’ve been overwhelmed with the amount of traction we’ve received in the past few weeks and months and we’re slowly rolling out Penta to the thousands of businesses on our waitlist. You can expect to receive an invitation to get Penta within the coming weeks.
No, there is no negative influence. Since Penta provides you with a debit account without a credit line (or the possibility to have a negative balance) we do not report to Schufa.🤐
If you have a complaint the best way to contact us is via email to email@example.com. Otherwise please feel free to call us directly. Any complaint is valuable feedback for us and will help us to get better every day (we really mean that so please feel free to send us your thoughts or issues!).
Penta is easy. And more powerful. Everything is digital and the pricing model is tailored exactly to your needs. We make sure you never have to print out documents, go to a branch or wait for hours to reach customer support.
Next countries are UK, Netherland, Poland, Spain & Belgium. If you have other urgent requests come and talk to us or send us an E-Mail.
You can sign up online in minutes! The account creation usually takes just 15 minutes. Ready to create a Penta account?
Deposits are insured up to €100,000 by the National Deposit Guarantee Scheme, same as for any BaFin regulated bank account in Germany.
Once you start the registration process, we’ll ask you to provide us with the information about yourself (full name and address) and the business.
The business information includes the business type, the registration number (if applicable), tax information and legal representatives as well as ultimate beneficial owners.
Only your ID or Passport (it’s really that easy).
The whole signup process takes about 15 minutes.
Yes. The basic account is free, which means you will have one business MasterCard and you can send 10 transactions per month for free. Every transaction after the 10th is 0.10 €.
Once you start growing, you can pay for the services and apps you need to help your business move faster. What are those services and apps? We plan to introduce low-cost FX, automated accounting and more in the coming months!
We are made for companies with a cashless policy in mind. If you need to withdraw money, we charge 2% or a minimum of 2 Euro. We are working to improve this in the future. If there will still be cash.
The basic Penta account is free and will stay free forever. You get 10 free transactions per month, and every transaction after your 10th will be 0.10 €. You only pay once you grow for additional apps and features. The full price list is available here.
Yes. When you open a Penta account, you’ll have a full-fledged bank account via solarisBank.You’ll also have an individual IBAN, a MasterCard, and access to the business apps and services that your business needs to make business banking really easy.
When opening the account, you’ll receive one business MasterCard sent to your address for free. Also, in the nearest future you will be able to order as many cards as you like for €2 a month per additional card! You will be able to set different budgets and constraints per card.
If you have lost your card, the first step is to log into your app and block the card. If you need to get a new card contact Penta support at firstname.lastname@example.org.
You will soon be able too - in the nearest future all Penta business accounts will be accessible to all legal representatives.
We’re testing the mobile app in a closed-Beta that we plan to release in the coming months. However, the current Penta app is responsive and can be opened on your phone.
Currently you will get Mastercard and basic features, such as payments, standing orders and timed orders (coming very soon). You are able to download bank statements and export transactions as a .csv file to do accounting.
Yes. And we won’t charge you for it, or make it complicated!
But we’ll be really sad... 😔