It is common to find that new entrepreneurs or small business owners use their personal bank accounts to manage their business activities, which can be seen as an error in controlling the financial management of the business. In this regard, the experts recommend that, in order to have a successful business, it is necessary to open up aprofessional bank account.
A professional bank account is a current bank account designed to provide comprehensive solutions to the particular needs of a company or company. Professional accounts allow for the various international banking operations, access to the online bank and obtain the best conditions to apply for a loan for the company or company. Its accounts are offered by many online banks and it can be difficult to make a choice without having some information. Find out more about your pro account options here.
The main pro accounts you can choose from
Online banking is certainly in direct competition with traditional banking operations, but banks offer the best banking products and lowest fees. The following list presents some banks in which you can open your professional accounts online.
Qonto
It is the first online bank for business professionals and entrepreneurs. This online bank offers business accounts entirely online, physical and virtual debit cards for entrepreneurs and free transfers worldwide. As an additional premium feature for businesses, Qonto Online Bank offers specific account access to the company administrator, scanning receipts and invoices, with automatic categorization.
Shine
Shine aims to make the lives of entrepreneurs and SMEs easier by offering online professional accounts with administrative services to help you set up and run your company. Initially specialized in activities for independent professionals or entrepreneurs, the online bank Shine is now suitable for all forms of business. Also in order to facilitate the daily activity of business professionals, Shine Bank's application offers very practical features such as billing, payment, virtual cards, simplified online accounting, etc.
N26
It is a premium online bank based in Germany and currently well received throughout Europe by entrepreneurs and individuals. It offers features such as opening bank accounts for individuals and MasterCard Business at no extra charge. Digital transactions with a premium professional account of this online bank are free of charge or condition. The online bank N26 also offers a refund of 0.1% of purchases, and it is even possible to schedule payments from the company's customers online with the permission of the latter.
Bunq Business
Bunq is an online bank based in the Netherlands. It allows easy payment and simplified billing thanks to the scanning of invoices via the premium mobile app. Bunq also manages SEPA payment files, Mastercards, cards with global coverage, cheaper international transfers and direct integration with accounting applications. Opening business bank accounts in this online bank offers entrepreneurs a certain ease of card payments.
The Bunq Business online bank allows you to activate up to 25 bank accounts, each with its own dedicated IBAN. You can activate multiple sub-accounts from your online pro account and assign them to specific sectors or branches of your company or company. Each professional bank account can be provided with personalized access for your employees.
Revolut Business
Another smart solution for an online business account is Revolut Business, which allows you to manage payments, transfers and prepaid cards that can be assigned online to employees directly from the application. You can send bank transfers to any account, in France and abroad, free of charge and free of charge, and you can activate physical and virtual cards to allocate budgets to your employees.
How to choose an online bank to open your pro account?
Opening a professional online bank account offers entrepreneurs an ease in managing the banking operations necessary for the emergence of their business or business. However, companies have specific bank account needs.
It is therefore necessary that the financial services offered by the online bank in which the entrepreneur will open the business account be adapted to this particular feature. For this, when choosing an online bank where your business's professional bank account will be held, you must consider the following aspects as an entrepreneur:
- Checkbanking servicesoffered by the online bank. The services offered by professional account banks are the first elements to consider before choosing your online bank. Generally online banks offer professional services such as SEPA transfers, professional bank cards (Visa or MasterCard), automatic debits in the Euro area and monthly bank account statements.
- Consider the additional services provided by banks. These services are products specifically designed to better meet the specific needs of professionals. These include corporate cards, virtual cards, an online payment terminal, international bank cards, transfers abroad, billing software, etc.
- If the company operates abroad, it is important that the online bank chosen to open the professional bank account is present in different countries and that the rate on payments, transfers and other payments is adapted to the funds.
- A company must be able to manage its capital and funds in a timely manner. The online bank must therefore offer banking services, such as virtual or physical outlets to cash in shops or electronic commerce, credit cards, debit cards, mastercards, factoring, etc.
- When choosing a bank to open your business's professional bank account, you should also consider the rate and charges related to bank movements including payments and transfers and transactions in the account. In fact, these have a direct impact on the cost of maintaining the company's business account.
Drafting opinion
Few companies currently have a professional bank account with an online bank, but it is clear that more and more entrepreneurs are interested. The professional accounts of these banks already allow entrepreneurs to make virtual card transfers and payments, to assign cards to the company's employees, to have accounting tools and much more.
If you are a new entrepreneur, a professional bank account is the best way to save and ensure themanagement of your funds. However, when choosing a bank to open professional accounts for your business, take care to determine first the specific needs of your business. In this way, since there are many banks online, the choice of the ideal will be easier.