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Finklusiv supports serious and committed business owners to open a business account

Entrepreneurship is for many a good way to create their own job and become financially independent. But without access to a bank, a small business cannot function.

We support refugee business owners in Denmark who have been rejected by their bank to open a business account. We offer training and support, and we recommend you to our partner bank FasterOikos if we believe that you qualify.

Our success rate for recommendations to banks is 85 %.

Eligibility Criteria

You have obtained asylum in Denmark
You have requested a business account from your bank, but it has been denied
Your business is already operating or ready to start in the next three months
Your business has good potential and is well defined
You are willing to receive support and advice from Finklusiv
You are honest and transparent about your situation and the issues you meet
You are not registered in RKI – you can find out whether you are in RKI here: dininfo.dk

Prices

Is your expected annual turnover below DKK 300,000?

Assessment Fee DKK 1,000 + VAT
Success Fee* DKK 4,000 + VAT
Network Membership** DKK 125 per Month + VAT

Is your expected annual turnover above DKK 300,000?

Assessment Fee DKK 2,000 + VAT
Success Fee* DKK 8,000 + VAT
Network Membership**DKK 125 per Month + VAT

* The success fee is only paid to Finklusiv if the account application is approved by the bank
** Membership of Finklusiv's network is mandatory for 1 year after bank approval

Note that the bank will charge their own fees when opening the business account

The Application Process

Apply

Complete the application form. We will then send you a link to upload your documents to a secure platform.

Confirm

If we believe we can help you, we will ask you to pay our assessment fee.

Meet

We meet to complete the file. You will receive sparring and support to build a convincing application file.

Train

You will have access to our training material on how to build a good relationship with your bank.

Relax

Once the file is complete, we will issue a recommendation to the bank on your behalf.

Go!

If the bank approves your file, we will help you get onboarded to their systems and you're all set to go.

FAQ

Am I eligible for your program?

For us to support you, you need to fulfill the following criteria:

You have obtained asylum in Denmark
You have requested a business account from your bank, but it has been denied
Your business is already operating or ready to start in the next three months
Your business has good potential and is well defined
You are willing to receive support and advice from Finklusiv
You are honest and transparent about your situation and the issues you meet
You are not registered in RKI – you can find out whether you are in RKI here: dininfo.dk

Can you say yes to it all? Then we will try to help you make a request for a business account.

Which documents will I need to submit?

The bank will expect a complete file presenting your company, it’s activities, results and plans, but also a full view of your private situation. We will help you gather these documents in order to send a complete file of excellent quality to the bank. This is how we insure a high success rate in our recommendations.

Your business documents must include proof of registration, list of real owners, financial projections and business plan if the company is newly created, yearly accounts if the company has existed more than a year, as well as transcripts from the previous business account. They will also ask for your contract with your main client if you are a subcontractor, any debt situation and an overview of how you expect the business account will be used, i.e. and estimation of future transaction trends.

The private documents will include ID documents (passport, driving license, health card evt. residency card), your current tax declarations and annual tax returns for the past 2 years, outstanding debt information, retirement savings, a screenshot overview of the family bank accounts, and an estimation of your future transaction trends.

Am I sure you will send my file to the bank once the documents are submitted?

No. Finklusiv will only send your file to the bank if we believe you have a good chance of being approved. We work in constant dialogue with partner banks to know what their requirements are. If we see a that your request will be denied, we will make sure to explain to you the reason why, and close the case – after providing you with your completed file.

How long does it take for me to get my accounts?

Once you have applied, Finklusiv will screen your situation before confirming we can help you within 2 days. If we beleive we can help we will request payment of the administrative fee. Once the fee is received, we will work with you to ensure your file is complete. We will only send the file to partner banks when it is complete, so make sure you provide information quickly. Once the file is sent to the bank, you can expect your account within 3 weeks.

What if my file is not approved by the bank?

Finklusiv has an excellent success rate of our recommendations to banks. We only send your file to the bank if we believe it will be approved, but the final decision is of course with the bank. If your request is denied, we will make sure you receive the complete file you have built with us, so you can easily apply elsewhere. We will also come with suggestions of what kind of international bank could offer an alternative solution for you.

What if my file is approved by the bank?

Congratulations! We will support you to onboard the bank’s system, and answer any questions you might have. This includes making sure you know how to sign the banks legal documents, download the Mobile bank app, and have your cards ordered to your address. You will then have 15 days to pay our success fee. As a Finklusiv approved client, you will have access to our other programs and services from our partners.