Top European Online Business Bank Accounts in 2025

Finding the right business bank account in Europe can be challenging — especially for first-time or international business owners.

In Europe, businesses have more options than ever before, from traditional banks with decades of experience to innovative neobanks and digital wallets offering digital-first solutions. But how do you know which one is right for your business?Finding the right partner and setting up the right type of account are critical to your business's lasting success, for non-EU residents and residents alike. Don’t settle for the first service you encounter; learn how to navigate the market and get started with a financial institution that offers everything you need.Our comprehensive guide is not just a list of business banking options; it's a decision-making tool designed to help global business owners assess the types of financial institutions available, compare their services, and determine which option best suits your needs. Here's everything you need to make an informed decision that sets your business up for success with the right business bank account.

Understanding the Different Types of Business Banking Options in Europe

There are three main types of financial institutions that offer financial services to businesses. Each category has its own benefits and drawbacks that should be understood before you make your decision.1. Traditional BanksTraditional banks such as Nordea, Danske Bank, and ING have long been the go-to options for businesses. These bank accounts offer comprehensive banking services, including business checking accounts, savings accounts, business loans, and credit lines.Accounts with these types of banks are highly regulated and provide peace of mind when it comes to security and oversight.

Pros:

Established reputation and regulatory oversight.
Full range of banking services, including loans and credit.
Trusted by a broad spectrum of businesses, from startups to large corporations.

Cons:

Slow onboarding processes with extensive Know Your Customer (KYC) and Anti Money Laundering (AML) checks.
Higher monthly fees, especially for international transactions or low-volume businesses.
Possibility of hidden fees
May be less flexible and more risk-averse, which may prove challenging for startups or high-risk industries.
Customer support can be slow compared to newer institutions.

Who's it best for?

Traditional banks are a good option for established businesses with local operations and a strong financial history or those needing a full-service bank. Many organizations will need access to an in-person branch, which is often a major appeal of going this route.For example, if you need in-person branches, opening an account in Finland or the Netherlands means working with a traditional financial institution.Special mention: Some neobanks like Revolut Business and N26 Business are transitioning into fully licensed banks, thus offering an experience closer to traditional banking with digital-first benefits.2. Digital Wallets and Remittance ServicesDigital wallets and money remittance services have become increasingly popular for businesses in recent years, especially for those dealing with international clients' payments. For non-residents, these services can be crucial for converting and sending money earned in the EU to home jurisdictions.Leading companies are Wise Business, PayPal Business, and Payoneer, each providing fast, simple services for sending and receiving money to different countries internationally.

Pros:

Easy account setup with fast international money transfers
Low fees for cross-border payments
User-friendly with straightforward online platforms
Valuable alternative to traditional banks for international payments

Cons:

It is not a substitute for traditional business bank accounts, especially for companies that need to manage payroll or complex finances.
Lack of full accounting or financial services and integrations.
Customer service can be slow, and services might be limited depending on your operating jurisdiction.

Who's it best for? These types of services are perfect for businesses that need a secondary payment tool for international transactions but don’t require a full-fledged business bank account. This option is great for small businesses and freelancers that mostly handle payments via digital channels.3. EMIs and NeobanksNeobanks and Electronic Money Institutions (EMIs), like Narvi Payments or Holvi, are digital-first financial services that offer business accounts with essential online banking features like multi-currency support, invoicing, or full integration with accounting software. This new breed of institutions is often easier to access than traditional banks, offering an entirely online onboarding process that can be completed in a matter of minutes.Pros:

Fast and easy account setup with digital onboarding
Offers IBANs and business-specific features like invoicing and accounting integrations
More flexible in accepting high-risk industries compared to traditional banks
Competitive fees and transparency
Often equipped to handle international payments within and outside Europe
Often tailored to meet the needs of startups, digital nomads, and small to medium enterprises

Cons:

Lack of a full banking license in some cases, meaning they are not subject to the same level of oversight as traditional banks
Some providers may have stricter policies toward high-risk businesses
Less established compared to traditional banks, with some still developing their platforms and services

Who's it best for?

Startups, freelancers, digital nomads, and small, fast growing businesses need an easy, digital-first solution for managing business finances but don’t require nor want the full range of services provided by traditional banks.

Who Can’t Open an EU Business Bank Account?

Some jurisdictions are currently unable to open business bank accounts in the EU. Currently, citizens from sanctioned countries, including Iran and Russia, are unable to open business accounts with Narvi. Other very high-risk jurisdictions might have restrictions as well.

About Narvi Payments

Narvi offers business accounts with a dedicated IBAN for EU and non-EU residents in need of international transfers and working with multiple currencies. Our trusted, customizable platform is designed to solve the challenge of operating in the European Union.

Which Service Is Best for Your Business?Choosing the right financial service for your business in Europe depends on several factors, such as the size and type of your company, your business needs, and the countries in which you operate.We put together a quick comparison of traditional banks, digital wallets, and neobanks to help you decide which way to go.

table comparing banks, wallets and EMIs and their business accounts in EU

Why Neobanks & EMIs Are the Best Alternatives for Most Businesses

Neobanks and EMIs provide the right balance between ease of use and credibility in the financial world. This new generation of financial institutions allows businesses to benefit from digital-first services, which makes them an ideal choice for startups and entrepreneurs. This value is especially prevalent for Canadian self-employed individuals with clients in Europe, Americans, and Estonian e-residents.Additionally, neobanks often accept a broader range of business types compared to traditional banks that may have higher criteria for opening an account. Having an EMI current account can also serve as an entry point for banking services later on. These accounts (and the history of account statements) also help businesses planning to apply for financing or looking for a more established banking relationship at a later time.

How to Select the Best Business Accounts in Europe

It’s important to consider several factors when it’s time to select a business bank account in Europe. Ask the following questions about the potential service to help you make an informed decision:

Does it offer an IBAN?An International Bank Account Number (IBAN) is necessary for cross-border payments within Europe and internationally.

Can it integrate with accounting software?Ensure the chosen service integrates with your business’s accounting software so it can streamline your financial processes.

What are the fees for transactions and withdrawals?Understand the costs associated with your account, especially if you plan to conduct international or high-volume transactions.

Does it accept businesses from your industry?Some services are more selective about the types of businesses they accept. Ensure your business and overall industry are eligible.

How difficult is the verification process?Some institutions require more extensive documentation and verification or a meeting, which can delay your account opening.

What's the country where the instution is licensed and opens IBANs?Not all countries are perceived equally when it comes to their financial regulations. E.g., Finland's FSA supervision is highly regarded, and FI bank accounts might not ever face IBAN discrimination.

Breakdown of the Best Online Business Bank Accounts in Europe

What are the best European business bank accounts? The answer depends on the business size, industry, and operating jurisdictions. We’ve explored the types of financial institutions, so let’s put them into context based on which business they’re best suited for.

Best for Startups & Freelancers: Narvi, Holvi

Startups and freelancers need easy digital account setup and cost-effective rates, making EMIs a great choice for these types of businesses. On top of a streamlined setup process, they also offer essential accounting features and integrations.

Key Features:

Multi-currency accounts
Invoicing
Or Integration with popular account software

Pricing & Fees:

Best for High-Volume Payments & International Transfers: Narvi, Wise, Airwallex

Platforms like Narvi and Wise provide competitive fees for international transactions and high-volume payments. These providers are well-suited for businesses with global operations.

Key Features:

Fast international transfers
Invoicing in various currencies
Low fees
Flexible payment solutions

Best for E-commerce & Digital Businesses: Payoneer, Stripe Treasury

Payoneer and Stripe Treasure are well-suited for e-commerce businesses that need to process payments globally.

Key Features:

Integration with e-commerce platforms
Multi-currency support
Easy international transfers

Pricing & Fees:

Best for Non-EU Residents Opening a Business Account: Narvi, Outaway Payments

Non-EU residents can use Narvi or Outaway Payments to open and access European financial services.

Key Features:

Fast onboarding
Multi-currency support
Easy access for non-EU residents

Pricing & Fees:

Narvi Pricing Table

How to Open a European Business Bank Account

Opening a European business bank account generally requires a few key documents, such as

proof of business registration
identification documents
details about the business owner and directors.

However, specific requirements can vary by country and provider, so make sure to check every financial institution’s documentation list. Besides that, some services like Narvi have a fully digital onboarding with an optional online meeting, and some, like LHV, require a call or a visit to their branch.For Americans and other non-EU residents, it's worth looking at specific requirements for financial institutions in other countries before making your decision. You don't want to incur extra fees due to your home country.Anti-money laundering procedures and regulations inform many of the requirements you’ll face, as well as dictate the risk level of your industry and organization. Knowing how to describe and explain business activity of your firm makes it easier to obtain a European business account.

Check out Narvi’s helpful guide for a full list of our required documents:

Remote Business Account Opening With Narvi

Narvi allows non-residents to open bank accounts remotely, which makes it easier for entrepreneurs to get started without being physically present in an EU country. Our onboarding process is straightforward, and we offer comprehensive documentation to help you get started.

Visit our onboarding instructions for more details:

Onboarding of AML-Regulated Entities

Everything You Need to Know about Business Banking in the EU to Get Started

Getting started with business banking in the EU can be a daunting topic to bite into, but fortunately, we’ve already covered the major aspects in detail. So, let’s explore the major things you need to know about getting started and link to our guides so you can dive deeper.Typical Costs of a Business Bank AccountBusiness bank accounts in Europe have varying fee structures based on the institution. A few common fees are:

Monthly maintenance fees
Transaction fees
International transfer charges
ATM withdrawal fees

It’s critical to review costs when choosing your business banking provider to avoid any surprises.

Learn more about our fee structure:

What Is IBAN? What Is a Dedicated and Segregated IBAN?An International Bank Account Number (IBAN) is a standardized method of identifying bank accounts across borders. IBANs are crucial for businesses that deal with multiple clients or countries.You’ll see dedicated and segregated IBANs, which refer to different account setups where funds are kept separately for specific purposes or clients.

Learn about dedicated IBAN accounts for businesses:

Business Checking vs. Savings Accounts in EuropeBusiness checking accounts are essential tools for managing day-to-day operations, like processing payments and paying bills. Savings accounts are more suitable for businesses that want to earn interest on their cash reserves.Each account type comes with different features and limitations, so take the time to find the right one based on your business’s cash flow needs.How Many Corporate Accounts Should You Open?It’s common for businesses to open multiple bank accounts, such as separate accounts for operational expenses, taxes, and reserves. While having multiple online business accounts can help with financial management and improve tracking, they also add complexity, so open new accounts strategically.

Learn what an accountant recommends to consider:

What Payment Systems Does the EU Have?Understanding the various payment systems in Europe can help businesses optimize cross-border payments. The most common systems are the Single Euro Payments Area (SEPA) Instant for domestic transactions and the cross-border alternative Society for Worldwide Interbank Financial Telecommunications (SWIFT) payments. SWIFT connects to other local wire transfer systems, such as ACH in America.SEPA Instant payments are a faster alternative to traditional SEPA Credit payments, allowing for domestic transactions to be completed nearly instantaneously.Learn more about each payment system:

SEPA Instant allows for immediate euro transfers between participating banks in the Single Euro Payments Area.

Today, SWIFT spans every continent, including more than 200 nations and over 11,000 institutions globally.

Different Accounts for Different CompaniesChoosing the right business account begins with choosing the financial institution. However, you’ll also need to choose the right account type for your business. Understanding the differences between these account types is key to ensuring your business's financial needs are met, so we’ll explain them.

Sole Trader Business Bank Accounts

Sole trader business bank accounts are intended for single-owner businesses with a simple ownership structure, which US residents will know as a sole proprietorship. Bank accounts for sole traders are generally sought on with the purpose of separating personal and business financial transactions.

What is a Sole Trader Business Bank Account?

A sole trader (also known as a sole proprietor) business bank account is a special type of bank account specifically designed for self-employed people who run their own businesses.

Limited Company Business Bank Accounts

Limited companies, often known as corporations or incorporated enterprises in the EU, are formed when two or more people create a new legal entity with its own liabilities separate from the individuals. US citizens will know this type of structure as an LLC, UK residents — as LTDs, and Finnish entrepreneurs — as Oy (Osakeyhtiö). Opening a business bank account for this is not a firm requirement in all jurisdictions (and in some, like Finland, having a business account is mandatory), but is still highly recommended to meet immediate and future financial challenges. Limited companies work with partners, have employees, and pay taxes — having the right bank account can go far in supporting business growth.

If you've just set up a limited company, you may be wondering whether you need to open a business bank account.

Joint or Multi-User Business Accounts in Europe

Businesses with joint or multiple stakeholders will need business accounts that allow access to shared financial management. These types of accounts are designed so designated users can oversee transactions, approve payments, and ultimately maintain financial transparency.These types of accounts are specifically useful for partnerships, co-founders, or teams that need a collaborative banking solution.

What is a multi-user business account, how does it provide convenience, control, and security to the account holders, how does it make things easier for all stakeholders in the company — in this in-depth guide.

Inter-company and Multiple Entity Corporate Accounts

Organizations with multiple subsidiaries or affiliated entities often require inter-company or multiple-entity corporate accounts. These types of accounts allow for financial coordination across different branches or subsidiaries, enabling seamless fund transfers, consolidated reporting, and streamlined treasury management. These accounts are a necessity for multinational corporations or holding companies that manage various legal entities.

Manage all your companies in one place with Narvi's unlimited dedicated IBAN accounts for each of your companies or subsidiaries.

Multi IBAN Feature Use Case for Property Managers

Multiple Currency Company Accounts in the EU

While accounts with support for multiple currencies are a standard feature in some regions, they’re typically less common in the EU when it comes to accessing currencies like USD. Digital wallet services like Wise provide alternative solutions that allow businesses to send and receive different currencies.However, we’re still seeing services emerge that offer fully fledged multi-currency accounts with transfers and payouts. Narvi is actively working on launching these capabilities to bridge this important gap in the European financial landscape.

Keeping Your Company Account SecureSecuring your account is crucial for protecting business data, stability, and overall financial health. Cyber threats are on the rise, and it’s crucial to have the strongest possible security posture. A few ways to keep your account secure are:

Start by choosing a vendor with strong security measures, like MFA (2FA), fraud monitoring, and robust encryption protocols
Enable and require multi-factor authentication
Use strong and unique passwords
Monitor account activity regularly so you can quickly catch issues.
Develop a comprehensive response plan in case your business accounts are compromised

It all begins with the right financial institution and continues with putting forth your best effort to keep accounts monitored and secured.Integrating Your Bank Account With Financial SoftwareIntegration with accounting software simplifies bookkeeping, payroll, invoicing, and tax reporting. Many neobanks and digital wallets offer seamless integration with popular tools like Xero, QuickBooks, and FreshBooks, ensuring that financial management is streamlined and efficient.Additionally, Narvi offers our flexible API for organizations that would benefit from more custom integrations.

Tips on how to keep your business bank account safe

Here's what Narvi Payments does to proactively keep your business accounts secure.

The three distinct types of APIs that power the financial transactions of the future are Open Banking API, Accounts API, and Banking as a Service API.

Register with Narvi for Easier Access to EU Business Bank AccountsFinding the right bank account for your business, whether you’re a freelancer, a startup, or an established business, is crucial. However, navigating the European business banking landscape can be tough for non-EU residents, but now you’re better equipped to make an informed decision. Fortunately, Narvi has created plenty of guides that help you fully understand all the moving pieces and make the right decisions for your business.Looking for the right account with the services you need and low fees? Start your application with Narvi today, or contact us to learn more about how we can help your business.

Published December 28, 2022. Updated March 3, 2025Author:

Eric Carriere is a Canada-based fintech writer and entrepreneur with over a decade of experience in B2B and digital strategy. As the founder of WriteOn, Eric offers practical insights into solopreneurship and small business operations, helping businesses navigate the evolving fintech and SaaS landscape.

Narvi Payments Oy Ab is an Authorized Electronic Money Institution (EMI). Narvi’s EMI license is granted by the Finnish Financial Supervisory Authority (FIN FSA) with the registration number 3190214-6. Narvi’s license is Passportised to all European Union countries.

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