An association, even if it's non-profit, necessarily has financial flows to manage. This is why it's a good idea to open a bank account specifically for this purpose. There are a number of solutions available. Among these, online banks and professional accounts are becoming increasingly popular, enabling you to open online accounts to manage your association's expenses. Here's some useful information to help you make the right choice when opening your online account.
How do you choose a business account for your association?
What type of business account should I open? Rather a traditional bank or an online payment institution?
While it is advisable for an association to open a bank account dedicated to its activity, there are generally no specific offers from banking establishments. As with micro-entrepreneurs, you can choose between a classic personal account and a business account. While the former is often less costly, it is generally ill-suited to the operation of an association. In fact, a business account is designed to manage a large number of transactions, sometimes involving substantial sums, which is not the case with a personal account opened at a conventional bank.
What are the criteria for comparing offers?
To open an account for an association, you need to compare the different offers, taking into account all the criteria that can influence the day-to-day running of the association: + account management fees + payment methods available and their cost + the cost of account statements + overdraft parameters and commissions + payment and ATM withdrawal fees + ease of management + how to contact an advisor + Mastercard cards available .
Online banking and online business accounts: alternatives to consider when opening an account for your association
Online banking, a vast offer
The range of online banks has expanded considerably in recent years. Like traditional banks, each offers its own terms and conditions.
Whether it's to open a standard current account or a pro account, some banks impose income requirements. This can be problematic if your association is in its infancy, as you have no visibility on this point. Obtaining one or more Mastercard or Visa bank cards is also uncertain. Most banks offer free cards subject to conditions, either in terms of the number of monthly uses, as with Boursorama Banque or Fortuneo, or the amount of the deposit, as with ING Direct.
As for transfers, conditions are just as varied, with some professional banks charging a commission on transfers made, others a fixed amount, and others offering the fee.
Like traditional banks, online banks often have very detailed and not very transparent pricing conditions. On a day-to-day basis, this can lead to a few surprises.
Professional account, a clear and concise offer for associations
For some years now, online business accounts such as Anytime have been making inroads into the market of financial management offers for associations. Perfectly accessible to both small and large associations, these pro accounts offer a simple, one-page package. Professional accounts for associations can be managed 100% remotely, via the web or a dedicated mobile application.
These new-style banks offer associations comprehensive packages at a fixed monthly rate. So there are no surprises: everything is included, and there are à la carte offers to suit your specific needs, such as insurance or the support of a chartered accountant.
On the other hand, as professional accounts are payment institutions and not credit institutions, they do not distribute investment solutions or loans. Likewise, overdrafts are not possible, which means that the association's cash flow shortfalls must be anticipated.
In conclusion, choosing the right online bank for your association will enable you to save on operating costs and simplify your association's day-to-day operations.
So why put your trust in Anytime? Convenient and turnkey, this online pro account allows you to benefit from professional services at very reasonable rates.
