Comparing business bills: 3 tips
As an entrepreneur, you’re always looking for ways to improve your business. Taking it to the next level. The right business account could help with this. Yet this is not obligatory for every company. You can also very well keep your own personal account as a self-employed person.
Still, when it comes to doing tax returns, for example, it is nicer if you have a better understanding of your income and expenses. It also gives a more professional look when customers see a company name on their bank transfer.
In short: plenty of reasons to open that business account anyway. But what do you look for? After all, the supply is huge.
Fortunately, comparing business accounts doesn’t have to be too difficult. Using the following three you are sure to find the bill that suits you.
1. What do you need?
First list for yourself what you need. Do you need other banking products besides a regular business account, for example? Is it the intention that people can also use an ATM to withdraw money and deposit directly into the account? Do you want multiple people to be able to access the account??
Do you want to be able to stand in the red?
All things to think carefully about. Write down all the points that are important to you. Then you immediately have a good wish list to narrow it down a lot.
Once you only have a few couches left, it is often a matter of feeling. Especially if they all match your requirements. Look mainly at the annual rates and the feeling you have with the bank.
2. The price
To open a business account you usually pay an annual fee. This amount is needed to keep the account open. Most banks charge between 100 and 150 euros a year. Good to factor this in and possibly base your choice on it.
Pay attention to the interest rate for both red accounts and savings.
Want to save as much expense as possible? Then it is more attractive to choose an online bank instead of a traditional bank like ING or ABN AMRO. Because a digital bank does not have a physical branch, it is able to keep the price much lower.
3. Connect the account to your software?
Do you have your own store and should people be able to withdraw money from your account?? Then it is essential that the business account matches your business software. Something that just always works and you won’t always experience failures because of it.
There are also other forms of business software to consider and where it can be helpful if it can be properly linked to the business account. Think about a professional accounting package. You often pay a lot of money for this and then it is nice if it does what you expect of it. If it connects well with your business account, transactions will be automatically processed in the records.
So you save an incredible amount of time.