Which Bank Account for his ICS in 2020? Our selection !
25 septembre 2020
SCI bank account: an obligation or not?
Contrary to micro-enterprises, the Société Civile Immobilière is one of the so-called « legal entities ». According to the law, legal entities must open a professional current account dedicated to their activity.
It is compulsory to open a current account for your SCI, even for a Family SCI, if it is subject to corporation tax.
Be aware that some unscrupulous banks are willing to open personal accounts, especially in the case of ITSs that have chosen income tax and not corporate taxation. This may save you some money on the cost of maintaining your ICS account, but the risks imposed by maintaining a personal, non-corporate account for your ICS should be avoided. In particular, we’d like to avoid fictitious ICS charges, and using a personal account doesn’t really send a good signal.
We therefore advise you to always opt for a bank account dedicated to your ICS, for the following reasons:
- Separate your business operations from your personal operations to avoid tax and accounting confusion (Source)
- If necessary, appoint proxies and joint holders distinct from those of your private account.
- Subscribe to banking services dedicated to your ICS.
Once we have understood these legal details, the choice of bank for your ICS comes down to one main criterion: either you need financing or you can do without it. Let’s take a look at the 2 types of banks you can choose for your ICS.
You don’t need financing: the choice of an online bank for SCI
Unfortunately for ICS, the most well-known online banks such as BforBank, ING, Boursorama, Hello Bank or Monabanq do not accept ICS.
Fortunately, new players have entered the professional account market in recent years, and now offer you the opportunity to create and manage your SCI bank account online with highly adapted offers. We are talking here about neobanks, which offer an quality, low-cost current account.
The account maintenance fees are often non-existent, the opening is free, and thus represent the best option to open a cheap SCI bank account.
The only real constraint is that neobanks do not offer financing, but this will not be a problem for some ICSs:
- Family SCIs that prefer to borrow personally and then pay the loan amount to the SCI via a contribution (cash or current account)
- SCIs that can do without borrowing at the time of their creation.
- Those who wish to change banks for their SCI after the repayment of their loan
Our selection of online banks for SCI
We have selected here 3 online banks that we believe are perfectly suited to the needs of real estate companies.
Qonto is probably the best known professional neobank in France. It now offers a bank account particularly adapted to SCIs.
100% accessible online, the account will greatly facilitate the management of your ICS, while avoiding the costs of a traditional bank. The manager and the partners of the SCI will thus be able to have an efficient bank account that can be opened quickly and easily online. The icing on the cake is exemplary customer service, even if the bank does not have a physical branch.
Qonto has 4 offers:
- Solo: 1 User / 1 Physical Mastercard / 20 SEPA Credit Transfers included
- Standard: 5 Users / 2 Physical Mastercard / 100 SEPA Credit Transfers included
- Premium: 15 Users / 5 physical Mastercard / 500 SEPA Credit Transfers included
- Company: Unlimited users / 15 physical Mastercards / 2000 SEPA Credit Transfers included
The Solo and Standard offerings should fit most ICSs, but it is good to know that Qonto will fit ICSs of all sizes. For more information, read our detailed opinion on Qonto.
An online bank that will come onto the market in 2017, Manager One offers a unique all-inclusive monthly fee of 29.90 euros, particularly suited to ICS. We appreciate clear pricing with no hidden fees.
Among the many advantages:
- Cheque cashing
- Business cards and advanced card management
- Bank cheque
- Possible capital deposit for your SCI
To find out more, please read our detailed review on Manager.one.
Anytime, a neobank launched in July 2014, offers services for individuals as well as professionals. Just like Qonto, Anytime also accepts SCIs and offers them an online bank account adapted to this status.
Anytime has 2 offers:
- Standard: 1 User / 1 Physical Mastercard / 20 SEPA Credit Transfers included
- Premium: 2+ Users / 2 physical Mastercard / 200 SEPA Credit Transfers included
To find out more, read our detailed review of Anytime.
You need financing: the choice of a traditional bank
If you need financing, there is really only one choice: the choice of a traditional bank. In addition to financing, these banks are still attractive to SCIs in particular because they offer a wide range of services and especially the the presence of a counsellor.
When making your choice, beware of the professional banking fees, which are higher in traditional banks than in online banks.
Compare business accounts
Find the right bank for your status and banking needs
Many traditional banks will « force » your ICS bank account a little bit if they give you funding, but that way you won’t really have a choice.
Our selection of traditional banks for SCI
We would like to mention two banks that we feel are suitable and that often come up in our discussions with ICS managers. Any of the other traditional banks (Société Générale, Crédit Agricole, BNP, HSBC…) could do just as well, it all depends on how close you already have with your bank, and especially with your banker (and your negotiating skills)!
Crédit Mutuel is more than 5,000 local mutuals grouped together in 18 regions.
Today, « the bank that belongs to its clients » offers an account for SCI and financing offers that reassure thanks to a dedicated client advisor. Read our detailed opinion on the mutual credit pro offer.
La Banque Postale
Everyone knows La Banque Postale, whose branch network is based on post offices. For several years now, it has been offering a dedicated service to companies, including its bank account for SCI.
The proximity of branches and bank advisors will facilitate access to financing. Read our detailed opinion on La Banque Postale’s pro offer.
Be aware, however, that traditional banks offer very few cheap bank accounts, including for ICS. This is a pity, when you consider that an ICS is a very profitable account for a bank (thanks to the financing), with few movements on the current account.
Even if we appreciate the services offered by traditional banks, we often regret the hidden fees, or the lack of ergonomics of some web and mobile sites.
It is probably for this reason that traditional banks are now being called into question by new entrants to the market for professional current accounts, including ICS: the (neo)professional banks.
What is the procedure for opening a bank account for your ICS?
Supporting documents to be provided
The supporting documents requested for the opening of a bank account for his ICS are the following:
- Photocopy of double-sided identity document of the appointed manager
- Photocopy of double-sided identification of all agents authorized to use the account
- KBIS extract if applicable
- Statutes or draft statutes of your ICS
- Excerpt from publication in an official announcement newspaper
Depositing capital online for your SCI
When the SCI is created, shareholders will have to make an initial capital deposit. This deed is essential in order to obtain the capital deposit certificate required to register the company with the clerk’s office of the Commercial Court. After registration and full payment of the capital, the funds will be transferred from the temporary account to the SCI’s bank account.
Fortunately, in recent years, online capital deposit has developed rapidly, considerably speeding up the time it takes to obtain the certificate of deposit.
Frequently Asked Questions
Can I be refused the opening of a bank account for my SCI?
A bank may refuse to open a professional bank account for your ICS without justification. You may then turn to the Banque de France to request the account entitlement procedure. The Banque de France will then designate a banking establishment which will have no choice but to open a bank account for your SCI. You can also try your luck with an online pro account, which is more flexible on ICS acceptance.
What is a partner’s current account for a SCI?
A partner current account is not to be confused with a company current account. The term partner’s current account refers to a loan granted by one of the partners to the SCI. The current account contribution should therefore be entered on the liabilities side of the balance sheet. It often makes it possible to avoid more formal forms of financing such as a bank loan.
Unless otherwise specified, the repayment of a current account of a shareholder of a SCI operates in the following way: the holder of the current account may request full repayment of the loan whenever he wishes and the company may not oppose this request.