How to open a bank account for an association

All association receiving or spending money is required to have a specific bank account. No member or officer may collect funds in his or her own name on behalf of an association.

Opening a specific bank account is not compulsory, but it is an essential step for almost all of them. So how do you go about it?

Let's find out everything you need to know about opening a bank account for your association.

When should an association open a bank account?

Opening a bank account for an association generally meets a number of needs. It can be useful for applying for accreditation, obtaining recognition as a public utility, employing staff, purchasing equipment, receiving subscriptions or applying for grants.

Having a bank account gives you access to a physical or dematerialized means of payment.

It couldn't be easier to simplify your association's accounting. Remember that every association is required to draw up a balance sheet of its accounts each year. These must be presented at the annual general meeting.

What are the formalities for opening a bank account?

The bank account is opened after the legal formalities have been completed. The articles of association must designate the body (or person) empowered to use the association's bank account.

In principle, this responsibility falls to the legal representative, i.e. the Chairman. He or she is free to choose the bank of his or her choice, and to take the appropriate steps.

Minutes must be drawn up to formalize any change of bank account manager.

The designated manager may create delegations of signature to allow other members to use the bank account for the association's activities.

What supporting documents do I need to present?

The first step is to approach a banking institution. The vast majority of physical and online banks, both French and international, offer standard packages for associations.

Here is the list of supporting documents you will need to complete your application:

• Signed and approved articles of association (in a single copy)
• Prefectoral declaration receipt
• Extract from the Journal Officiel attesting to the creation of the association
• The minutes opening the account and designating the person responsible for the account
• Copies of the identity documents of persons authorized to use the account

Running an association isn't always a smooth ride, and administrative procedures can be a real burden. Fortunately, there is a solution to simplify your daily life. Have you considered domiciliation for your association?

Using the services of a domiciliation company allows you to obtain an address in a business center.

Much more than just a mailbox, domiciliation companies lighten your daily routine by taking care of a host of tedious, low-value-added tasks: daily mail management, switchboard with call forwarding, administrative, accounting and legal assistance, and meeting room rental are all at your disposal.

With 100% digital registration, you can save precious time by quickly filling in all your details, gathering supporting documents more easily and signing your direct debit contract directly online. You'll receive a certificate of domiciliation by e-mail within a few hours.

With SeDomicilier, all it takes is 5 minutes! All your services are then available in a personalized, secure virtual office!