Study the banking solutions and options
A comparator is useful to support an entrepreneur in choosing a business bank account, in a traditional or online bank. Some financial institutions offer specific plans for business owners, that fit their needs throughout their company development stages. They also offer other financial services that an entrepreneur might want to take into account, such as business insurances, credit, or factoring.
Know what kind of legal forms is accepted
Some banks or neobanks do not accept all legal forms. Some financial institutions are more adapted to micro-entrepreneurs, other to shared capital companies. This last choice implies to deposit the company's share capital in bank or neobank. Therefore, the company's legal form is an essential criterium when it comes to comparing several business banking options.
Compare all the current business accounts
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 neobanks it's a matter of hours! However, some neobanks are only able to deliver a foreign IBAN, which can make things complicated in France (to pay taxes for example).
Compare accounting integrations
Some business accounts make accounting easier and help business owners drive their company's financial life. The 'expenses' add-ons and the number of accounting tools integrations should be analyzed thoroughly when comparing business bank accounts. Some business accounts allow business owners to invite accountants as members, which allow them to export the transaction history autonomously, for instance.
Know everything about checks
Compare all the solutions to deposit a check. While traditional banks deliver this service for free, it can be sometimes more complicated to get this feature with neobanks. You might want to ask yourself if you really need a checkbook! Even if this payment type is not really used anymore, some entrepreneurs still need it.