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Every bank is charging a transfer fee and or a monthly fee or interest rate.

What is deductible?

• Business bank account fees (monthly or yearly maintenance costs).
• Transaction fees for online payments (e.g., PayPal, Stripe, Mollie).
• Interest on business loans or credit used for company expenses.

Not deductible

• Personal banking fees (private bank account costs).
• Late payment interest on personal loans.

VAT Deduction → No, VAT on banking fees is not deductible.
Income Tax Deduction (Income tax → Fully deductible as business expenses.

Important:

• Separate personal and business banking—a dedicated business account makes deductions easier.
• Keep bank statements and invoices as proof of expense.