Advantages of an online account for the self-employed

Working as a self-employed person involves a considerable and often time-consuming administrative burden. For example, you need to have a bank account.

By choosing to open an account online, you'll benefit from a host of advantages. What's more, you'll save precious time, which you can devote to the tasks that are at the heart of your business.

What are your banking obligations as a self-employed person?

For micro-entrepreneurs

Opening a bank account dedicated to your business is not compulsory, as you can use your personal account as long as your annual sales do not exceed €10,000 for two consecutive calendar years.

However, it is always preferable to set up a dedicated account for your business, as this keeps your professional banking operations separate. By not mixing your personal and business expenses, you can avoid the risk of having them reclassified by the tax authorities in the event of a tax audit.

For companies (EURL, SA, SAS, SARL...)

If you want to run your business within a company, you need to open a dedicated bank account as soon as it is set up, in order to pay in the share capital. Otherwise, you won't be able to obtain the certificate of deposit required to register your company.

What is a self-employed online account?

This is a pro account that enables self-employed people to carry out all the financial transactions necessary to run their business, without having to go to a bank branch.

Good to know: banking establishments that allow you to open an online account have the same legal status as traditional banks. This status is that of a credit institution, and is granted by the Autorité de contrôle prudentiel et de résolution (ACPR). Since 1999, these establishments have been part of the Fonds de Garantie des Dépôts et de Résolution (FGDR) scheme, which indemnifies customers up to €100,000 in the event of bankruptcy.

Four advantages of an online account for the self-employed

There are many reasons to use an online account when you're self-employed.

1. Savings on financial expenses

Banks without physical branches have lower operating costs. As a result, the cost of maintaining an online account is considerably lower than that of an account at a traditional bank.

2. Immediate access to all services

An online account gives you access to the Internet 24/7, whether from your desktop computer or on your smartphone thanks to the mobile app. This is a great advantage for freelancers who often do their bookkeeping over the weekend. What's more, you benefit from a chatbot that lets you ask questions and get answers quickly. And if you need to, you can always get in touch with an advisor.

You can carry out all your money transfer operations on any day, at any time, wherever you are, because your bank is permanently connected to a national or international banking network.

3. Appropriate payment methods

Opening an online account gives you access to :

  • provision of one or more payment cards (physical or virtual), with the option of configuring each card individually;
  • various solutions for cashing your customers (check deposit service, direct debit, SEPA credit transfer, etc.).

4. A wide range of complementary services

With an online account, you have access to :

  • integrated billing software
  • assistance with administrative formalities
  • financing solutions
  • preferential rates thanks to a partnership with an insurance company...

How do I open an online account for self-employed people?

Opening an online account for self-employed people is quick and easy, because everything is done online. All you need is the following documents:

  • for sole traders: proof of identity and, if the business is run from business premises, proof of use of the premises;
  • for a company: the manager's identity document and proof of business premises, if required, plus the company's draft articles of association.