Business banking account comparator

Compare traditional business banking solutions with
online business account solutions.

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What is our business bank account comparator?

Before opening a business bank account, a business owner should compare the number of transfers and debits included in the selected plan. Are the fees included or are they going to generate extra costs? Are they interchange fees?

One should also be aware of the different types of debits that are offered. For instance, some business finance management solutions do not allow B2B SEPA direct debits, even if this format is compulsory to pay taxes to the government.

Some banks or business finance management solutions do not accept all legal forms of company. Some financial institutions are more adapted to freelancers and the self-employed, others to shared capital companies. The latter involves depositing the company's share capital in a business account.

Therefore, the company's legal form is a critical factor when it comes to comparing several business banking options.

Traditional banks usually require users to physically come to the bank to open an account, while an online solution allows the entire process to be carried out online.

A business owner should always analyze feedback regarding the quality of a bank's or business finance management solution's customer service (for example, how long does it take to get an answer to your questions and requests?)

Entrepreneurs should know what type of bank details they will receive from their future bank. How fast is the IBAN sent to the client? While it usually takes more time with traditional banks, with business finance management solutions it can be just a matter of hours.

However, some online solutions are only able to deliver a foreign IBAN, which can make things complicated in France (when it involves paying taxes, for example).

Entrepreneurs should compare the services provided along with their payment card. Payment and withdrawal limits deserve particular attention. Also, the extra fees billed when international payments are made can be substantial.

One should choose between different types of Visa or Mastercard cards. There are different types of cards: prepaid, debit (which usually comes with insurances services) or credit cards.

Some business accounts make accounting easier and help business owners drive their company's financial operations. The 'expenses' add-ons and the number of integrated accounting tools should be analyzed thoroughly when comparing business bank accounts.

Some business accounts allow business owners to invite accountants as members, which makes it possible for them to export the transaction history autonomously, for instance.

Our advice

Price is often the main criterion when comparing business bank accounts. The pricing of traditional banks compared to online banks can vary significantly. Business owners should also pay attention to the pricing structure (is it flexible enough to fit their needs?) and to the potential hidden costs (such as interchange fees or turnover commissions).

A comparator is useful for entrepreneurs who are choosing between a business bank account in a traditional bank and an online bank. Some financial institutions offer specific plans that satisfy a business owner's needs throughout all stages of their company's development. They also offer other financial services that an entrepreneur might want to take into account, such as business insurance, credit, or factoring.

Your company may need to get a business loan. All traditional banks allow you to request a loan, even you can't be sure your request will be approved. Some business finance solutions have strong partnerships with financial parties, like crowdlending platforms. Your choice of bank also depends on your needs in liquid assets. Your company could need an overdraft authorization or cash facilites.

Compare all the solutions that allow you to deposit a check. While traditional banks deliver this service for free, it can sometimes be more complicated to find this feature with business finance management solutions. You might want to ask yourself if you really need a checkbook! Even if this payment method is used less commonly today than in the past, some entrepreneurs still find they need it.