As part of our Professional Rates Bank Trophies, we have reviewed the rates applicable to professionals in 107 traditional or online banks. The observation is clear: the bill is dirty in traditional brands, but can also quickly climb among online players, depending on the use of the account.
Lines invented especially for professionals, services which also exist for individuals but which strangely cost more for professionals… One thing is certain: whatever bank you choose, prepare to put your hand in your pocket.
Traditional banks: same services, higher prices
At first glance, it would be tempting to explain the high rates applied to professionals by highlighting the specificities of this clientele: larger flows, complex management with group transfers, collections, financing (factoring, discounting). .. However, while these operations, specific to professionals, are subject to specific pricing, common lines with individuals are also exploding. The most obvious example is undoubtedly the annual account maintenance fees: while an individual will get by for around thirty euros per year at most, no traditional bank charges this service less than 120 euros per year to professionals. And the price can go up to 856 euros at LCL. Costs, therefore, at least multiplied by 4, for a service which seems to us to be quite similar between an individual and an entrepreneur with a low turnover and few transactions on his account.
Another example is subscription to online banking services (via internet and mobile application), which allows customers to view and manage their account independently. If this service is free in online banks, traditional banks almost systematically charge their professional customers for it (unlike individuals!). You have to pay, for example, 5.90 euros per month at La Banque Postale, 46.20 euros per quarter at BRED Banque Populaire, and even 22 euros per month at SG. LCL provides free access to essential services, but you have to pay 5 euros per month to be able to make third-party transfers, an operation which nevertheless appears essential when using a bank account… Only around ten Crédits Agricoles (Anjou Maine, Languedoc, Provence Cte d’Azur, Center Loire, Touraine Poitou, Atlantique Vende, Toulouse 31, Corsica, Ille et Vilaine, Nord Midi Pyrnes) do not charge any fees for this service.
Professionals sometimes also pay more, for example fees for the execution of each permanent transfer: 0.21 euros at CIC, 1.40 euros at Crdit Mutuel Center, 1.50 euros at La Banque Postale or Caisse d’Epargne Aquitaine Poitou-Charentes, or 1.75 euros at Crdit Agricole Charente-Prigord. A standard transfer or direct debit carried out by a professional is no different from that carried out by an individual, but some players see it as an opportunity to charge fees.
As for incident costs, the capping of intervention commissions from which individual clients benefit does not apply to people acting for professional needs. Therefore, banks do not have to limit their amount to 8 euros per operation, and 80 euros per month in total. Socit Générale therefore charges 15 euros for the intervention commission, with no limit per day or month; Crdit Maritime Méditerranée displays a rate of 15.95 euros; Crdit Mutuel charges 17.30 euros (with a ceiling of 1 commission per day), etc. Note, however, that among national banks, HSBC has aligned itself with the capping of individuals.
Professional banking rates: in the hell of brochures…
Imagination to power to create new lines
By comparing the brochures of the different banks with agencies, we quickly see that the latter do not hesitate to multiply the tariff lines for the same object, which, very logically, increases the bill.
In addition to account keeping, professionals are subject to a specific line: the famous movement commissionwhich corresponds to a percentage applied to all debit transactions (excluding lines from the bank), whether the account balance is debit or not.
The monitoring of a professional account is also integrated, for example a commission for updating the customer filethe annual amount of which is very variable: no fees charged at certain establishments but up to 300 euros at Crdit Agricole Corse for example… However, it is difficult to know precisely which actions are remunerated by this line because the brochures do not detail what changes in the life of companies requires an updating of the file on the bank’s side…
We also find a multiplicity of commissions regarding overdraft. In addition to the annual management fees (or renewal) of the overdraft and debit interest, also billed to individuals, professionals pay in addition a commission on the highest overdraft. Depending on the bank, a commission for non-use of overdraftlike La Banque Postale, or a confirmation commission, invoice for example to LCL and HSBC. There are also overrun and immobilization commissions at the CIC. The purpose of these services is rarely given in the leaflets, making it very difficult to understand the pricing.
By contacting their business manager for a personalized study, professional clients who prove to be good negotiators will perhaps achieve blow up a few expense lines. But this lack of transparency makes any comparison between banks in the sector difficult. Which, ultimately, harms the professionals’ wallets.
Professional bank rates: which bank is the cheapest for professionals?
Online professional accounts: expensive services
Online banks and fintechs specializing in professional accounts are often more competitive than their traditional counterparts. Indeed, for around ten euros excluding taxes per month for entry-level offers, their customers can have an account with a management card online or on application. The monthly package includes account maintenance and a certain number of free operations each month: transfers, direct debits, ATM withdrawals, etc. In addition, the vast majority of online players do not charge a movement commission. But despite much lower rates than in a physical bank, we still find the same phenomenon: online offers for professionals are often more expensive than those dedicated to individuals. To take an example cited above, certain fintechs, such as Qonto or Shine, also charge transfers and direct debits, after a certain number made during the month, which varies depending on the offer chosen (0.40 euros from the 31st transfer at Blank c is even 1 euro beyond this threshold).
Furthermore, a professional who opens an online account without having first identified his needs could have an unpleasant surprise if he regularly performs certain actions. For example, withdrawals are charged 2 euros each with the classic card at Qonto or Anytime, and 1 euro at Blank. But the most expensive operations among these players are check and cash deposits, when they offer them. The offers of these establishments being based on independent management, any intervention by an advisor is necessarily invoiced at full price. Thus, Blank charges 0.90 euros from the 4th check per month, Shine 2 euros from the 3rd check per month (same thing for Qonto with its Smart formula), Monabanq charges 1.50 euros from the 19th check deposited in the quarter, while manager .one charges 20 euros per check beyond the 6th per year!
Regarding the cash deposit, Shine charges a commission of 4% excluding tax on the amount deposited (but 1, 2 or 5 deposits of a maximum amount are included each month depending on the formula chosen). Monabanq charges 6 euros from the second deposit in the quarter. Fiducial Banque charges 17 euros per remittance. Some online banks also reserve their offers for individual businesses, whose needs are generally less than a large company. This is the case of Monabanq, Hello bank and BoursoBank, in particular.
Bank Trophies – Professional prices 2024