Digitizing professional finances is made simpler with online banking options for check deposits. Fiducial Bank and Hello bank! Pro offer unlimited, free check deposits, while other banks like Monabanq, Qonto, and Shine have limited free options. However, several institutions, including Finom and Revolut Business, do not support check deposits, necessitating alternative arrangements for business owners. It’s essential to choose a banking solution that aligns with your needs, particularly if check deposits are crucial for your operations.
Digitizing Your Professional Account: Check Deposits Made Easy
If you’re looking to modernize the management of your professional finances but find yourself receiving checks from clients, fret not! There are online banking options that accommodate check deposits. While many digital banks and financial institutions may not provide this service, a select few stand out by offering it, sometimes even at no cost. Let’s explore these options and how to deposit checks seamlessly.
Zero-Cost Check Deposits with Fiducial Bank and Hello bank! Pro
As a business owner, navigating various payment methods can be challenging. Despite the decline in check usage, it’s still a prevalent payment option in many industries, making the ability to deposit checks a necessity. Fortunately, if you often deal with checks, you’ll want to ensure that these deposits can be made without incurring extra charges.
Fiducial Bank and Hello bank Pro are two standout online institutions that allow their clients to deposit checks for free and without limits. With Fiducial Bank, checks can be mailed directly to the institution, though postage fees will apply. On the other hand, Hello bank! Pro requires clients to scan their checks using the mobile app before sending them via mail to customer service. Additionally, clients can conveniently make check deposits at BNP Paribas branches, the parent company of Hello bank!, thus saving on postage costs.
Limited Free Check Deposits with Other Banks
Several banks offer check deposits without fees, but typically with certain limitations. Monabanq, Qonto, and Shine provide varying levels of free check deposits. For instance, Monabanq allows 18 free deposits per quarter, which can be made by mail or at specific branches, with any additional deposits costing €1.50 each.
Qonto’s fees for check deposits depend on the account plan chosen. The Basic plan charges €2 per deposit, while the Smart plan permits two free deposits monthly. Higher-tier plans, such as Premium and Essential, increase that limit, allowing up to five free deposits. The Business account allows for 10 free check deposits, and the Enterprise plan offers 15.
Similarly, Shine charges €2 per check under its Basic package. However, upgrading to Shine Plus enables two free deposits monthly, while Shine Pro allows six, and Shine Business permits 15 free deposits each month.
Professional Accounts Without Check Deposit Options
If check deposits are essential for your business, it’s crucial to be aware that not all online banks offer this service. Institutions like Finom, Indy, Revolut Business, Vivid, Blank, Propulse by CA, N26, and bunq do not support check deposits. Business owners using these platforms may need to maintain a separate account for check deposits or encourage clients to use alternative payment methods.
Stay informed about the best professional accounts available and choose one that fits your needs, especially if check deposits are a vital part of your operations.