05. february 2021

7 things that can give you a faster response to your Business application

This is how you make the best business application when you want a Lunar Business account.


In Lunar Business we're making it easier to apply for a bank account - but we still need to understand your business before we can invite you. The entire process is digital and you can do everything from your phone.

To make sure that you have the best chances to get through the process as quickly as possible, we have collected the answers to the most frequently asked questions regarding the application process.

💡 Two of the most frequent mistakes that you quickly can check:

1 - The industry code does not match with the CVR or your business description

We retrieve your company’s industry code from virk.dk and if it doesn’t match with your description of your company, we need to solve this issue. Remember to describe your company as well as possible, so that it fits with your industry code at virk.dk - or change industry code if your business has changed.

If your company idea for example is to establish a carpenter company, it is alpha omega that you have registered the correct industry code in the business register. Otherwise, we unfortunately have to reject your application.

2 - Have you entered the correct country of birth and place of birth?

We can’t approve your application if you haven’t entered your correct country and place of birth.

The better you describe your company idea, the faster it goes

When you apply in the app, you need to describe your business idea and business model. The more you tell us, the faster we can get you going.

The description is supposed to make us understand what your business is doing and what the purpose of having an account at Lunar is. That also means that we need to know your expected cash flows - i.e. what goes in and out of your account.  

For example, what money do you expect to receive and from whom? This also concerns fixed costs for suppliers, partners and salary payments.

💡 Here you can see what to prepare for and examples of answers from a smaller business.  

What is your business idea/business model?

Example: 

BUSINESS IDEA: Petersens Tømrer og Snedker ApS is engaged in carpentry and joinery. I am the only employee and I want to put my main focus in the sawmill, where my business also has an address. In the sawmill I will cut planks and timber, and put boards up for sale both for private and business customers, and sell at auction. 

In addition, my business will also conduct smaller tasks like replacing windows and roofs, construction of floors, etc.

FUTURE PLANS: Currently, this is a side business alongside my main job. The long term plan is to make the business my full-time employment. The reason why I founded the business as a side business is because I strive to build a wide customer base. I would like to secure that the business can be my full-time employment. I hope to recruit 2 more to my company and when this happens I will have time to focus on both sawmills and services (replacement of doors/windows at private customers).

SUPPLIERS: Regarding suppliers, I mostly use XL Byg, Bygma, Stark and other timber stores to purchase different types of construction material. 

CUSTOMERS: The business handles tasks for both private and business customers. The business estimates that the split will be 60% private customers and 40% business customers.

Save time - this is what you should be ready with

When you have applied we will probably reach out to you with a few extra questions. We do that because we are required to know you and your business to make sure that we follow the rules and can give you what you need.

Have your business agreements ready

When you apply we will ask if you have any business agreements. If you have, we will reach out to you so that you can provide us with valid and signed agreements. 

Turnover and potential side employment

If you have a side business and side employment, we would like to know how big part of your total turnover your side business makes up in %. For example, it can be that your main business is as a hairdresser and that you sell beauty products on the side, and we would like to know the distribution of your turnover. 

Have bank statements from your other bank within reach

If you switch to Lunar from another bank, we would like you to send the documentation and bank statements from your current bank. If you just started your business and we are your first corporate bank you of course don’t need this. 

From where do your initial investments come?

It may be relevant for us to know where the initial investments for your business come from. For example savings, loans or something else. That is also something we can ask for documentation on. 

If you have employees, we will ask you to have your employer registration ready

Do you have a transportation business? Look here 👇

  • In applications from postal and courier services, taxi companies, freight forwarders, etc. we will most likely ask you to have a hauler’s permit. So, it’s a good idea to have it ready. 
  • Do you run as a subcontractor for a larger company? If so, we will most often ask you for the specific cooperation agreement (with for ex. GLS or Bring), and it must be signed.

Do you have a holding company? Look here 👇

  • We always ask for a company and group diagram
  • If the company is newly established, we ask for documentation of the origin of the initial capital funds (an account statement from their savings if they, for example, have saved up to establish the company over a longer period of time)
  • If the company is “old” we ask for an account statement from your most recent bank 

Do you operate with personnel hiring or in the consulting industry? Look here 👇

  • We will ask to see your cooperation agreements 
  • We need to know more about your cash flows (do you invoice hourly or…?)

We look forward to receiving your application.

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