Is it mandatory to open a professional bank account for a SAS?
A pro account to deposit your share capital
To register your SAS (Société par actions simplifiée, or simplified joint-stock company), you're required to open a professional bank account. The SAS must have a bank account separate from those of its partners.
When creating a SAS, you are required to deposit the company's funds into a blocked account. Entrepreneurs contact the bank of their choice to make the deposit of share capital. The latter cannot be deposited into a personal bank account.
A company's share capital corresponds to all the cash contributions from shareholders and partners. In exchange for these cash contributions, they receive shares in the company. The minimum share capital for a SAS is one euro. Once the deposit has been made, the SAS receives a deposit certificate from the bank.
Separate the personal and professional funds of the SAS director
A manager can't link a personal account to their company's funds. It's mandatory to open a business account for your SAS. The tax authorities require a separation between the manager's personal finances and the company's accounting. With a bank account dedicated to the SAS's activity, there's no risk of errors in the company's accounting. The accountant can easily prepare the tax returns.
The advantages of a professional bank account for a SAS company
Opening a bank account has several perks for a SAS. It could be a professional account online or at a traditional bank like Crédit Agricole, Banque Populaire, or Caisse d'Epargne. As a director, you get a bunch of advantages with your SAS's professional account:
- Autonomy in setting up transfers and direct debits;
- Mobile banking application;
- Visa or Mastercard Business credit card;
- Financing options to grow your SAS;
- Investment solutions to grow your cash reserves;
- Negotiated exchange rates;
- Collection methods that meet the needs of your SAS: bank terminal, mobile app, simplified check deposit, etc.
Services may change from one bank to another.
Go for independence with an online bank
The SAS is a legal form for entrepreneurs looking for flexibility and agility in the daily management of their cash flow. An online business account is a rather attractive solution since it allows the manager to carry out all banking operations without having to travel to a branch. They have a large autonomy. This time saving is not insignificant for a business leader.
One of the perks of online business accounts is that they usually have lower banking fees. If you're looking to save money, an online bank is a great option. Traditional banks also offer fully digital services, just like neo-banks like Qonto or Shine.
What banking services does your SAS need?
To find the best bank for your SAS, you need to ask yourself about the banking services you need:
- What payment methods do you need? Checkbook, one or more bank cards, etc.
- What level of banking support do you need for your SAS?
- What banking services are useful for your day-to-day operations? Billing modules, payment terminals, currency exchange, etc.
Opening a professional bank account is a must for a simplified joint stock company. To pick the right bank, it's important to know what you need in terms of banking services.
Supporting documents needed to open a business account for a SAS company.
To open a professional bank account for your SAS, you'll need to prepare some documents for the bank. Here's what you'll need:
- The national identity card or passport of the partners;
- Proof of your SAS's registered address (utility bill, lease agreement, etc.);
- The draft articles of association for the SAS (simplified joint-stock company);
- A Kbis extract (company registration certificate) less than three months old to certify the registration of the SAS (simplified joint-stock company).
Written by our editorial expert
July 31, 2024
