The self-employed must make calculations to know which is the current account that best suits the needs of their business. /
The Bankinter Professional Account or the Revolut Business Plan Free account from Revolut are some of those chosen for freelancers with specific needs for their business
When you are an entrepreneur, making the right decisions becomes crucial on your path to success: coming up with a good business idea, choosing the best suppliers or being able to improve what your competition offers are just some of the issues you which you will have to think about in order to work on your own. However, you should not forget about other much more earthly issues, such as being able to find the best account for freelancers. In this way, not only will you have your payments and collections controlled, but you will also be able to save yourself a good pinch in commissions, and even obtain additional advantages, such as remuneration for your money, free cards or travel insurance.
But, of course, that is an odyssey in the sea of offers that are on the market. The Organization of Consumers and Users (OCU), through its platform OCU Inversiones, has published an article with the best current accounts on the market so that the self-employed can manage their business. OCU recalls that in Spain there are more than three million self-employed workers, being a group with specific needs such as, for example, free transfers, access to financing programs and health insurance for its employees under more advantageous conditions than for other clients , possibility of direct debiting receipts, credit and debit cards without a maintenance fee, the use of a dataphone and/or the payment of payroll to employees.
OCU Inversiones’ recommendation for the self-employed who do not have dependent employees and do not need specific services is to open a payroll account for individuals with which to manage their own business. If, on the other hand, the self-employed person needs to cover more needs, OCU advises contracting an account that remunerates the balances or returns part of the receipts, so that they can at least offset possible expenses.
An OCU recommendation is the Bankinter Professional Account, which offers 5% during the first year and 2% during the second, for balances maintained up to a maximum of 5,000 euros, free of charge if certain conditions are met. Another option recommended by OCU are accounts managed exclusively through online applications, without requirements, but completely free. For example, Revolut Business Plan Free from Revolut only offers basic services. Of course, the entity has three other flat rates (up to 1,200 euros cost per year the most expensive) according to the specific solutions of your business.
Advantage
A good choice allows you to save commissions and get extras such as remuneration for your money, free cards or travel insurance
Lastly, OCU recalls that the requirements for a self-employed person to open an account are set by each entity, but there are some that are common to most of them, especially to get rid of the costs of maintaining the account which, if not met, They can be more than 200 euros a year. Some of these requirements are direct debit payments (employee payroll, Social Security contributions…), maintain a minimum balance in the account or have regular income (the figure varies between 1,500 euros for the Professional Business Account of Ibercaja or the less than 200,000 euros on average that BBVA requests for the free account) or make a minimum number of movements with the debit or credit card (the Santander account requires making 6 payments per quarter with card and both Unicaja such as Kutxabank require 1,200 euros per year of spending).