MoneyVox has plucked the rates applicable to professionals from the main national banks and online banks, for its first edition of the Pros bank Trophies in 2023. The observation is clear: the note is dirty in traditional banks, but can also quickly climb among online players, depending on the use of the account.
One thing is certain: whichever bank you choose, be prepared to put your hand in your pocket. Rates for professionals are often much more expensive than for individuals, and this is not always justified by the client’s professional activity (high turnover, complex file with several financings, etc.). By comparing the brochures of the various national banks, we quickly notice that the latter do not hesitate to multiply the tariff lines for the same object, which, very logically, increases the bill.
Thus, the maintenance of the account in itself generates account maintenance fees (as with individuals) and a movement commission. The latter, specific to professional customers, corresponds to a percentage applied to all debit transactions (excluding lines from the bank), whether the account balance is in debit or not. Finally, account monitoring also includes a customer file update commission, the annual amount of which ranges from €60 at La Banque Postale to a maximum of €250 at Société Générale. Difficult to know precisely which actions are remunerated by these lines, since they all relate to the monitoring of the account.
We find this multiplicity of commissions when it comes to overdraft. In addition to the annual overdraft management (or renewal) fees and debtor interest, also billed to individuals, professionals also pay a commission on the highest overdraft. Depending on the bank, a commission for non-use of the overdraftsuch as La Banque Postale, or a confirmation fee, invoice for example at LCL and HSBC. There are also overrun and lock-in fees at the CIC. The purpose of these services is only rarely given in the brochures, making it very difficult to understand the pricing.
Remember that these are à la carte services, which can be included in a service group offer. However, it is difficult to compare the latter in traditional banks, because the most do not communicate on their content and/or price, which varies according to the customer’s turnover, the confided flows, the options chosen, etc. Customers are also invited to contact their account manager for a personalized study, and certainly those who know how to negotiate will be able to avoid a few cost lines. This lack of transparency nevertheless makes any comparison impossible.
Even beyond this abundance of tariff lines specific to professionals, there are also the same services as those offered to individuals: subscription to remote banking services, set-up and costs by transfer or direct debit, intervention commission, etc. , and the trend is confirmed: prices are higher.
Pro account: our list of the cheapest banks for professionals
Traditional banks: same services, higher rates
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, discount). .. However, while these operations, specific to professionals, are subject to specific pricing, common lines with individuals are also exploding. The most glaring example is undoubtedly the annual account maintenance fees: while an individual will get by for around thirty euros per year on average, the price can climb up to 856 euros at LCL. La Banque Postale is the least expensive of the traditional banks in our panel, with 178 euros per year, excluding group services. Costs therefore at least multiplied by 6, for a surely similar service 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 the internet and mobile application), which allows customers to consult and manage their account independently. If this service is free in online banks, traditional banks systematically invoice their professional customers (unlike private individuals!). You have to pay 22 euros per month at Socit Generale, 5.90 euros at La Banque Postale, 11.50 euros at CIC, and 13.90 euros at BNP Paribas (up to 750,000 euros in turnover). LCL provides free access to essential services, but you have to pay 4.10 euros per month to be able to make third-party transfers, an operation that nevertheless appears essential in the use of a bank account…
Professionals: cheapest online deals for limit your bank charges
Professionals pay sometimes also more expensive fees per standing order: 0.21 euro at CIC, 1.50 euro at La Banque Postale, BNP Paribas and Hello bank. Some fintechs, such as Qonto, Anytime, manager.one or Shine, also charge transfers and direct debits (0.40 euro each) after a certain number is made in the month, which varies according to the offer chosen. A standard transfer or a 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.
On the side of incident costs, the capping of intervention commissions from which private customers benefit does not apply to persons acting for professional needs. Consequently, the banks did not have to limit their amount to 8 euros per operation, and 80 euros per month in total. Société Générale therefore invoices 15 euros for the intervention commission, without limit per day or month. LCL takes 9.60 euros, and BNP Paribas 9.50 euros, with a ceiling of 570 euros per month. It should be noted, however, that La Banque Postale and HSBC have aligned themselves on pricing for individuals.
Bank rates for professionals, a real headache!
Online pro accounts: expensive benefits
Online banks and fintechs specializing in business accounts are much more competitive than their traditional counterparts. Indeed, for around ten euros excluding tax per month for entry-level offers, their customers can have an account with a management card online or on the app. The monthly package includes account maintenance and a certain number of free operations each month: transfers, direct debits, ATM withdrawals… In addition, the vast majority of online players do not charge a movement commission. Despite much lower prices than in a physical bank, we still find the same phenomenon: online offers for professionals are often more expensive than those dedicated to individuals.
Furthermore, a professional who opens an online account without having identified his needs beforehand could have a bad surprise if he carries out certain actions regularly. For instance, withdrawals are charged 2euros each with the classic card at Anytime, and 1euro at Qonto and Blank. But the most expensive fintech operations are check and cash deposits, when they offer them. The offers of these establishments being based on independent management, any intervention by an adviser is necessarily invoiced at a high price. Thus, Monabanq takes 1.50 euros from the 19th check deposited in the quarter, manager.one charges 20 euros per check beyond the 6th per year, Qonto and Anytime take 2 and 5 euros respectively per check (past a certain number, according to the formula chosen).
Regarding the cash deposit, Shine charges a commission of 4% excluding VAT on the amount deposited (one or two deposits of a maximum of 1,500 euros are included each month depending on the offer). Monabanq charges 6 euros from the second deposit in the quarter. Fiducial charges 17 euros per remittance. Some online banks also reserve their offers for individual companies, whose needs are generally less than a large company. This is the case of Monabanq, Hello bank, Boursorama Banque and n26, in particular.
The Bank’s Trophies – Professional rates 2023