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Best Bank Accounts for freelancers

In Spain there is an increasing number of self-employed workers who need to open a specific bank account to manage their business. There are many banks that have this type of account for freelancers and entrepreneurs so we show you a list with its advantages and disadvantages so that you can decide on the one that best suits your needs.

What is a bank account for freelancers?

A self-employed account It is an account in which you can develop your professional activity by opening it in your name. It is very beneficial since you can separate your money and manage the capital of your business and your personal money with greater control. 

The self-employed do not necessarily need to open a specific account to organize your professional activity. In fact, there are many freelancers who use their personal bank accounts for everything, but it is not recommended because if you keep your finances separate, you avoid spending money from the business and you will have more knowledge of the benefits each month. On the other hand, it will be much easier to keep the company's accounting since all the entries and exits of the accounts are related to your professional activities. This will also help you file your income tax return and see what expenses you can deduct more easily.

characteristics of a bank account for self employed

He best bank for freelancers It must have some characteristics and advantages that adapt to this public profile, taking into account their needs. The following points are what you should take into account when choosing a account for self-employed:

  • Free national and international transfers
  • Availability of access to financing plan
  • Numerous offices available to move funds in and out
  • It can be domiciled to provide receipts such as VAT or personal income tax
  • No credit and debit cards, no maintenance fees
  • Receive personalized advice from your manager by phone or in the client area
  • Remuneration for accumulated funds (TAE, TIN)
  • Pay salaries to employees

requirements of a bank account for self employed

The Requirements to open an account for freelancers They vary from bank to bank, but most have a few things in common:

  • Direct debit of income, employee salaries or social security contributions.
  • Maintain a minimum account balance or have regular income. The amount varies by bank.
  • Use the card. There are quite a few banks that require the self-employed to operate with the card at least monthly so as not to charge maintenance fees.

Money management being autonomous

for a self-employed It is important to keep your capital under control and separate the personal, professional and leisure accounts.聽

Being self-employed, it can be difficult to have all the charges for the possible expenses you have, taxes and fees, since tomorrow there may be certain defaults that will shake the business. Once you are self-employed, you have to generate a security cushion to be able to face those times of non-payments and possible taxes not contemplated. Therefore, it is very important to separate expenses in the event of possible unforeseen problems. 

A freelancer needs 3 types of accounts:

  • Personal account: Destined to full salary on a monthly basis that will correspond to a percentage of billing or benefits.
  • company account: For the corresponding customer payments. In addition, the payment of taxes and fees.
  • leisure account: This account will be managed to control monthly spending on leisure, travel, online shopping. Intended for all those expenses that are not made out of obligation.

Company bank account for freelancers

We can't mention the best bank for freelancers since each one has different characteristics and benefits. Below, we show you a list with some of them so you can decide which one best suits your needs.聽

Bank account Santander Bank

  • Free Debit, Credit and Mi Otra 123 Professional cards available
  • Possibility of hiring it online
  • No commissions
  • Free access to "Your financing" a space for subsidies and public aid

Bank account Bankinter Bank

  • No commissions
  • free credit card
  • Free national transfers
  • income advance
  • Carefree service: change accounts for all direct debit bills

Bank account Bank N26

  • Free account for new customers
  • Mastercard Business N26 Card
  • MoneyBeam, service to send and receive money between N26 customers
  • Reimbursement on purchases of 0.01%

Bankia bank account

  • Direct debit of receipts
  • Payments through transfers
  • Benefits of the Por Ser T煤 Aut贸nomo program

Leisure account for freelancers

We can use a wallet card like Fazil Neobank with which you can separate personal capital from your business and have greater control over your money. 

This Fazil account controls spending on leisure since, on a day-to-day basis, it is the most used daily expense and the one with which we have the greatest lack of control within our finances.

You can send and receive money, make transfers and also, you will have a virtual 100% card from which you can operate and manage all your expenses.

One of the main advantages is that the process is very simple since in just a few minutes you will have your account active and ready to use. 

Transfer cash to Fazil and pay your daily expenses with your mobile

Create your account in 4 minutes.

Transfer cash to Fazil and pay your daily expenses with your mobile

Create your account in 4 minutes.

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Dear Boomer

If you see that easy is not for you, you will always have the classics...

Those old glories that聽they have their bank branches,聽You already know how they work and they will not take you out of your comfort zone. 馃懘馃徑

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