In the case of commercial companies or entrepreneurs, it is strongly recommended to open a professional bank account. Why should I open a business bank account? Firstly because it is an obligation. The creation of a pro account has above all a practical aspect, that of separating private transactions from professional activities in order to prevent any fiscal and accounting confusion.
Choosing your bank, a delicate operation
Generally speaking, banks all offer the same services to professionals: various means of payment (Carte Bleue, cheque books, RIB), a bank card cashing system, online access to the professional account (consulting accounts), management services (insurance, bank statements, etc.). The price of these standard offers is around 25 to 40 € per month.
However, additional services can be offered by these banks. These additional services are intended to better meet the specific needs of professionals. Notably concerning international bank cards, transfers abroad, secure online payments, distance selling contracts, etc. When it comes to distance selling contracts, some banks are more reluctant than others to obtain them. You can visit www.bank4pro.co.uk/ and learn further more information on how to find the right bank for your business.
As for the banks managed by regional directorates, i.e. those that are not national, they do not allow cash or cheques to be deposited in a branch belonging to a regional directorate other than their own. Thus, depending on the needs of the professional, it is essential to compare the banks’ offers and consult their price lists. This operation can be greatly facilitated by using an online professional bank comparator.
The criteria for choosing a professional bank
Choosing a professional bank is a relatively difficult task, which is why it is sometimes necessary to play it simple. For example, when starting a new professional activity, it is preferable to focus on your personal bank. Or to open a professional account in the bank where a partner is already a client. The reason is that this can result in a privileged relationship with the advisor.
Because a bank’s brand name is rarely favourable, it all comes down to the banker. Indeed, it is easier to negotiate with a banker with whom a good relationship is maintained. His experience is also an asset that should not be overlooked. It is therefore advisable to choose a banker who is used to managing business accounts simply because he will be more efficient in dealing with business issues. Checking his level of involvement is also an interesting point to see. To find out this, simply ask him how many files he can handle in a short period of time.
Geographical proximity is a major advantage especially for the frequent deposit of the company’s checks and cash. The possibility of contacting a bank advisor directly and quickly or even exchanging with him/her by e-mail would greatly facilitate the professional life of entrepreneurs.
If you have the choice between several banks, and the “feeling” is correct with all the bankers you meet, the cost of the business account can eventually become the determining criterion.