Best Bank for Auto-Entrepreneur / Micro-Entrepreneur

banking

(Andre Vitorio) #1

Hi there,

I’ve recently moved to France and registered as a Micro-Entrepreneur and I’m currently shopping for a bank account. I’ve been comparing banks and am more keen to open an account at an Online Bank, but I noticed that a lot of them ask for some documents that I don’t have (mainly taxes or salary info - as it seems they don’t accept non-French docs) or don’t accept Micro-Entrepreneur accounts. I was wondering if someone has any tips for me.

Thank you!


(anon71231711) #2

A few years back when I looked into it, the favourites for online banking seemed to be Monabanq and Hellobank, but I imagine the offers have changed since then. But in the end I didn’t apply to any of them because after talking to Crédit Agricole who I use for personal banking, I decided to open a second account with them. The reasons for my decision were: 1. I prefer dealing face to face whenever possible, 2. I do sometimes have cheques to deposit which is easier to do at a local bank, and 3. My activity is fairly “traditional” so I try to project a serious image to my clients, and I kinda felt that an account with Crédit Agricole might carry more gravitas. And 4, it costs literally a few cents per month no strings attached, so maybe winds up even cheaper than an online account that is potentially “free” but in practice is only free if you continue to meet certain conditions.

Why does the bank have to know that you intend to use this account for your micro entrepreneur transactions, did they ask? If not, don’t tell them. A normal bank account in your own name is all you want, you don’t need an all singing, all dancing, hugely expensive business account with loads of facilities that as a micro entrepreneur you will never use.


(James Higginson) #3

I have just opened an account with Monabanq, seems fine so far.

Soon is another option although I couldn’t get past them needing a Carte dee Sejour although Catharine didn’t require one to do the same!


(Mark Robbins) #4

Have a look at the new transferwise bank account


(Andre Vitorio) #5

Thanks everyone! I think I’ll give Monabanq another shot!


(zach keynes) #6

As a micro or auto entrepreneur you do not have to have a professional account .I use my normal account and when I changed bank they tried to insist that I take out a professional account, (which they earn more money on) but I insisted that it was not necessary and at the end of the day they want your custom.


(anon71231711) #7

That’s correct, it doesn’t have to be a business account/compte professionnel. All you need is two separate accounts so that your business transactions are kept separate from your personal transactions. Two ordinary current accounts are perfectly acceptable, that’s the solution most micro entrepreneurs use.


(Andre Vitorio) #8

UPDATE: Monabanq didn’t accept my request to open an account.

Unfortunately they didn’t accept my request. I provided them with all the documents they asked except for the “justificatif de revenu”. As advised by their customer support, I sent a letter explaining to them that I just moved to France and didn’t have it.

They never contacted me to tell me my request wasn’t accepted, so I was waiting for an update for days. Finally I logged in to their site and the denial message was there.

I guess I’ll try to go to a Crédit Agricole agency.


(anon71231711) #9

That’s one of the drawbacks with online banks, it is totally impersonal. If you tick the boxes you are accepted, if you don’t you’re not.


(Andre Vitorio) #10

Yes, totally agree, although I didn’t get to work with them I’ve had other online bank accounts.

Thanks for your help and to everyone in who pitched in as well, I will update the post with my Crédit Agricole experience. Fingers crossed.


(anon71231711) #11

My experience with CA went like this:
I asked to open a second account. They asked why, I told them it was for my micro business. They said that in that case I had to open a business account. I said I didn’t want a business account. They showed me, on the screen, a statement of CA’s policy that any account used for business even for a micro had to be a business account. I said OK thanks in that case I’ll go elsewhere. They said, well of course you could open a second personal account but if you do that, we wouldn’t possibly ever be able to consider any loan application in the future. I said that’s fine because I don’t do loans. And they opened the account on the spot.
So don’t take No for an answer.


(Andre Vitorio) #12

Thanks for the info Anna!


(Andre Vitorio) #13

I know it’s been a while but I just had a rendez-vous with Crédit Agricole today and it went really well. I now have a bank account! I didn’t mention anything about being an Auto-Entrepreneur so they didn’t try to push a business/professional account.

Got a simple account but I’m very happy that they didn’t ask for too much documents and the manager was very calm and seemed to make an real effort to help me out.

Thanks to everyone who gave me advice here, you guys rock! :slight_smile:


(Gearoid Bolguidhir) #14

Can you get your 2nd account in the micro business name? or is that pushing it /


(James Higginson) #15

I still have invites left for Monabanq, let me know if you want one :slight_smile:


(anon71231711) #16

Not for a micro, no, because a micro is not a separate business entity. It’s a form of entreprise individuelle which means you and the business are one and the same legal entity (“personne physique”) so officially the business name has to be your name. A business can only have its own name if it’s a “personne morale” in its own right.


(Mark Weglarski) #17

Hi James, if there are still invites to Monabanq I’d be interested :slightly_smiling_face:


(James Higginson) #18

Hi Mark

You should receive that in the next 24hrs via email. :slight_smile:


(Hazel C Copcutt) #19

Ooh this sounds Nice! I am also looking to open a new account with whoever is best for a micro-entrepreneur!


(James Higginson) #20

Hi @HazelC

I’ve send you an invite, they can take up to 24hrs to land in your email inbox, check the spam folder too. You’ll need to hurry as the offer ends in a week or so :slight_smile: