Choosing your online bank for business and professionals

The digitisation of the banking sector allows you to have a wider range of products and services. Thanks to the dematerialization of procedures, you save time on a daily basis, while benefiting from better quality banking services and digital interfaces that enhance your user experience.

No more trips to and from a bank branch! Make way for the mobile applications of neobanks that make your bank accounts accessible from anywhere, at any time of day. Banking transactions take just a few seconds to complete, while real-time monitoring is instantaneous.

The absence of a physical branch does not mean a dehumanized banking relationship. A telephone number is also available to users of the neobank for professionals.

Choosing an online bank for the self-employed, VSEs and SMEs, above all allows you to make savings (free account maintenance fees and often transaction fees, no fees for opening a current account with RIB, etc.), and to benefit from more specific services, such as unlimited transaction history or their categorisation. With neobanks, you can take advantage of payment cards to better manage your employees’ expenses or of an accounting integration process. The neobanks allow you to benefit from quality banking services but also to manage all your expenses from your online account. You can visit https://www.bank4pro.co.uk for more about neobanks.

Compare the offers of professional online banks

When comparing the offers of professional online banks, it is important to take into account the legal form of the company, as not all professional online banks have a suitable offer. Therefore, you should pay attention to the legal structure of your company, but also to the banking services offered and the prices applied.

A self-employed entrepreneur or freelancer has a wide range of choices. He should compare the amount of monthly contributions and see what they allow him to obtain: banking services, online functionalities, and responsiveness of advisers. The question of the payment terminal is, for example, important for a craftsman, a merchant or a liberal profession.

For SMEs and VSEs, the range of offers is shrinking sharply. New banks are the best positioned, but not all offer the same prospects. Depending on your activity and the size of your company, a multitude of other criteria can be added, as well as a price comparison of the different professional banks.

Neobank pro or professional online banking

For a professional, it is essential to differentiate between a neobank and an online bank. From a legal point of view, a neobank is a Payment Institution or a Payment Institution Agent, whereas an online bank is a credit institution. Unlike a neobank, an online bank can market financing solutions such as conducting credit transactions, managing stock market products or securities. All deposits are placed in a ring-fenced account, as the neobank cannot use the funds in any way.

Neobanks build their offer on a sector where traditional banks are absent or insufficiently present. This is typically the case with the pro-banking offer. Online banks, all belonging to large banking groups, are turning away from this, except for Boursorama and monabanq, whose pro banking offer is only aimed at self-entrepreneurs or sole proprietorships.

The neobanks respond to this deficiency. The current online bank accounts is thus accessible to self-employed entrepreneurs, SAS, SARL, SCI, SASU and EURL companies, but also to associations, and to the liberal and medical professions. Its credo: to relieve company directors of banking formalities so that they can concentrate on developing their business.

Online banking for professionals: steps to open a professional bank account
The procedure for opening a new business account