Ready to switch to a business account?

The five benefits of a business account for entrepreneurs

An account that adjusts to your business needs

With a personal account, you already benefit from numerous banking services. But a business account includes features tailored to the day-to-day needs of an entrepreneur. Specific products and services allow you to keep track of your business activities. For example, you can easily link your business account to a business credit card. You can also link it with a fuel card to track your company car expenses. If you use accounting software, you can directly integrate your account statements into it using CODA files. And those are just some of the possibilities.

Keep a clear overview

As an entrepreneur, you know how important it is to have a clear overview of your business activities. This is even easier when your account doesn't mix personal and business transactions. Regularly monitoring your company's financial health is a wise habit, and that's what a business bank account allows you to do. Another benefit is that there’s no risk of you using business funds for personal expenses and vice versa.

Simplify your accounting

Business accounting is simpler when you have a separate business account. Your accountant can easily list all your business transactions by looking at your account statements. You'll save time, and your accountant's bill will also be lower.

Note that the fees related to your business bank account are tax-deductible, which is not the case for a personal account.

Make things easier when dealing with the tax authorities

As an entrepreneur, you may receive an inspection visit from the tax authorities. That inspection that will be much more manageable if you use a separate business account. You can give the tax authorities access only to this account, which includes all your business income and expenses. Opening a business account allows you to protect your privacy.

In addition, the tax authorities may regard expenses made from a personal account as personal expenses, even if they’re business purchases. It’s up to you to prove that it’s a business expense. If you can’t, your taxes will be revised upwards, and you may even face a fine. These drawbacks can be avoided with a business account.

Access to business credit

A business bank account is essential if you plan to request an overdraft from your bank. It’s also recommended for other banking products, such as a business loan.

How to open a business account

Opening a business account is quick and easy

First, you need to have a business registration number to open a professional bank account. You can obtain one by completing certain administrative formalities, such as registering with the Banque-Carrefour des Entreprises. Feel free to contact our specialists, who can guide you through the process of starting your business.

After that, several options are available to you. We offer various types of business accounts. Did you know that you can get a business account* free of charge for one year with our Starters Kit? Find out more here!