Fees have crept up year after year, invoicing still happens in a spreadsheet or the team is still waiting for its cards. At some point, switching your business bank becomes the obvious move. What holds you back is the fear of a lost client transfer or an Urssaf direct debit bouncing during the switch.
A well-prepared switch happens without interruption. Here is what the law provides for business accounts, the reasons that justify a change, the six steps in the right order, closing the old account and the direct debit transfer tool offered by Vivid.
Key points at a glance:
- To switch your business bank, do not count on the bank switching service of the loi Macron: this statutory service covers only accounts held by individuals who are not acting for business purposes.
- The business therefore organises the transfer itself, with whatever help its new provider offers.
- The right order: open the new account, move every flow to it, keep the old account open for a few weeks, then close it.
- Closure is requested in writing, once the balance is zero and no operation is pending.
Does bank switching (mobilité bancaire) apply to business accounts?
No. The bank switching service (service d’aide à la mobilité bancaire), created by the loi Macron and set out in Article L312-1-7 of the French Monetary and Financial Code, is reserved for individuals. According to service-public.gouv.fr, it covers only deposit or payment accounts held by individuals in France who are not acting for business purposes. Bank switching for a business account therefore does not exist in this statutory form: no institution is required to notify your creditors on your behalf.
For an individual, this service means the receiving institution offers, free of charge and without conditions, to move valid direct debits and recurring transfers from the original account to the new one automatically. That automatic transfer is what a business does without: each flow has to be moved by the business itself or with the tool its new provider offers.
What applies to the loi Macron and to an individual’s change of bank does not apply to an SAS, an SARL or a micro-enterprise. The director runs the switch. Some providers nevertheless offer their own service to make the transfer easier, for example for direct debits. It is worth asking what is available before opening the account, as these services vary widely from one offer to another.
Why change your business account?
Changing a business account rarely comes down to a single reason. Before you switch, compare what you pay today with the services you actually use. The reasons that come up most often:
Timing matters too. Avoid starting the switch just before a VAT, contributions or payroll deadline, when large amounts have to leave on a fixed date. A quiet period, with few invoices outstanding, leaves time to check each transfer without pressure. If a business loan is running, reread its contract: some include a clause that requires you to keep an account, or to route part of your revenue, with the lending institution.
Switching your business bank in 6 steps
The steps of a bank switch follow an order that protects your cash flow: the new account first, the old one last. Each step below can be ticked off over the weeks.
Go through the last twelve statements to spot direct debits, standing orders, regular incoming payments, cards and subscriptions paid by card. Also note any loan or guarantee tied to the account.
Gather the documents requested, usually an ID document, a proof of registered office and the Siren number, and open the new account before touching the old one. Check that it works with a first transfer between the two accounts.
Update your invoice and quote templates, then send the new IBAN to your clients, especially those who pay by standing order.
Give your new details to every creditor who debits the account, recreate standing orders on the new account and update the tax and social-security bodies.
Leave some funds on the old account during the transition, so that the last quarterly or annual payments move over to the new account.
Once no operation arrives on the old account any more, request its closure in writing and the transfer of the balance to the new IBAN.
Notify clients and creditors
Changing your bank details is done creditor by creditor. Each supplier that debits your account holds a SEPA direct debit mandate: it needs the new IBAN, and sometimes a newly signed mandate. Think of insurance, phone and internet, the rent of your premises, vehicle leasing and software paid by direct debit. On the client side, the new IBAN appears on invoices issued after the switch; a short message to those who pay by transfer avoids payments sent to the old account.
Online sales platforms, payment solutions and marketplaces often pay out sales to an account registered in their interface. Change the IBAN in each dashboard: these payouts are easy to forget, because they arrive without an invoice from you.
Update Urssaf and the tax office
Public bodies debit or refund the account recorded in their files. Update your bank details in the professional area of impots.gouv.fr and in your Urssaf online account, or with the body that collects your contributions. Whether you run an SASU or a micro-enterprise, this is often the forgotten step. Note the date of each update: it lets you track the transfer of the business account for each body.
Card payments need the same attention. Subscriptions to software, advertising tools or online services are often linked to the card of the old account. Replace it in each online customer account as soon as the new card is active, without waiting for a payment to fail.
| Operation | Who to notify | How |
|---|---|---|
| Incoming client payments | Clients, sales platforms | New IBAN on invoices, message to clients who pay by transfer |
| Direct debits | Suppliers, insurers, telecoms, leasing | New details and, if requested, a new SEPA mandate |
| Standing orders | You | Recreate each transfer on the new account |
| Taxes and contributions | Tax office, Urssaf or contributions body | Update in each body’s online area |
| Card payments | Subscriptions and online services | Replace the saved card with the new one |
How long should you keep both accounts?
How long does a bank switch take? Opening the new account can take a few minutes online, but the transition itself lasts several weeks. Some direct debits only run once a quarter or once a year, and some clients keep paying to the old IBAN for a while. Vivid recommends planning a transition period of four to eight weeks so that incoming payments arrive reliably on the new account.
Key takeaway: open, move, wait, then close. Keeping the old account open for a few weeks prevents a direct debit from being rejected or a client payment from going astray.
Closing the old business account
To close a business account, send a written request to the institution, ideally by registered letter with acknowledgement of receipt. State the closure date you want and the new IBAN to which the balance should be transferred. Return the cards and cheque books, and ask for a closure certificate. As for the fees of a business bank switch, closing a current account costs nothing: under Article L312-1-7 of the French Monetary and Financial Code, closing any deposit account is free, whether it belongs to an individual or to a company. The notice period for closing the business account depends on the account agreement: reread it before sending the letter. Finally, keep the statements of the old account, which are useful for the bookkeeping.
Before sending the letter, check three points: the balance is positive and no cheque you issued is waiting to be cashed, no direct debit is announced for the coming days, and no loan or guarantee is still tied to the account. If any of these points is not settled, wait a few more days rather than risk a payment incident.
Model letter: “Dear Sir or Madam, please close business account no. [number] held in the name of [company] with effect from [date]. Please transfer the credit balance to account [IBAN of the new account] and send me a closure certificate. I am returning the associated payment instruments today. Yours faithfully.”
Switching your business account to Vivid
Vivid offers a 100% online business account to companies, sole traders and micro-entrepreneurs. For the switch, the “Mobilité bancaire” line in the plans refers to a free direct debit transfer tool, offered with the partner Qwist GmbH:
Incoming transfers, standing orders and closing the old account remain in your hands, following the steps above. Paid plans start at €6.90/month billed annually, or €8.90/month billed monthly.
Vivid in brief: a business account opened online in 10 minutes to 1 hour in most cases, unlimited French IBANs and free transfer of direct debits with Qwist. Plan four to eight weeks of transition before closing the old account.
A business account for a fresh start
With Vivid, the application is online and takes about 10 minutes, with unlimited French IBANs and free transfer of direct debits. The Free Start and Standard plans cost €0/month.
Frequently asked questions
Does the loi Macron bank switching service apply to business accounts?
No. The bank switching service covers only accounts held by individuals who are not acting for business purposes. The business organises the transfer itself, with any help its new provider offers. It is worth asking, before opening, which flows that provider can move.
How long does switching your business bank take?
Opening the new account can take a few minutes online, but the full transition lasts several weeks. Vivid recommends planning four to eight weeks so that incoming payments arrive reliably on the new account.
How much does switching your business bank cost?
Mainly the price of the offer chosen for the new account: closing a deposit account is free, including for a company, under Article L312-1-7 of the French Monetary and Financial Code. At Vivid, opening the account and transferring direct debits are free, and the Free Start and Standard plans cost €0/month.
Can a business have two business accounts?
Yes. Nothing prevents a business from holding accounts with several institutions. That is exactly what happens during the transition, and some businesses then keep two accounts to separate their uses, for example incoming payments on one side and everyday spending on the other.
Should you close the old account before opening the new one?
No, the other way round. Open the new account first, move the flows, then close the old one once no operation arrives there any more. Changing your business account in this order avoids rejected payments and leaves time to check that every flow has followed.
How do you notify the tax office and Urssaf?
Update your bank details in the professional area of impots.gouv.fr and in your Urssaf online account, or with the body that collects your contributions. Do it as soon as the new account is open, then check at the next due date that the debit goes through on the new account.
What happens to a direct debit presented on a closed account?
It is rejected, and the creditor has to use the new details to get paid. That is why the old account stays open during the transition, until every creditor has recorded them.
This article is general information only and is not legal or banking advice. The bank switching service is described as published on service-public.gouv.fr; the notice period for closure depends on each account agreement. Payment services are provided by Vivid Money S.A., an electronic money institution authorised by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, whose French branch is supervised by the Autorité de contrôle prudentiel et de résolution (ACPR). The direct debit transfer is offered with Qwist GmbH.
