Non -resident Europe bank account | B2B Pay, can we have an account in an online bank outside France?

Open an account in an online bank outside France by being French

Contents

For American companies that regularly export goods or services to Europe, an IBAN B2B PAY number constitutes a simple and fast alternative. This offer includes non -profit organizations working with partners in Europe, for example.

Non -resident Europe account Europe

Non Resident Bank Account in Europe

It is very difficult to have a non -resident bank account in Europe. Unfortunately, documentation requirements are constantly increasing and some banks even ask foreigners to credit checks and history. With B2B Pay, you get a non-resident virtual bank account. You can accept payments from 36 EU countries and we will transport your money to your country of origin on the same day – on most markets – with 80% savings on the costs.

Problem and
Solution

Issue

For many, international banking operations take time, are frustrating and costly. Without a non -resident bank account in Europe, international payments can take almost a week. And due to the quantity of documents required, it is just to say that having a non -resident bank account is a problem.

Without B2B Pay, you:
  • Impossible to obtain a non -resident bank account in Europe
  • Impossible to collect or send national electronic transfers (SEPA payments)
  • Pay Swift costs of € 30
  • Pay a currency conversion cost of 3 to 6%
  • Unable to access local payment gateways
  • Suffer from the frustration of bureaucratic banking processes
  • Impossible to collect payments on markets like Amazon
  • Take 2 to 5 days per transfer
Solution

Non-resident bank accounts can be used to receive and make payments instantly. With a non -resident bank account, you can centralize the incoming and outgoing cash, which facilitates rapprochement. Your manual processes are reduced and the cost of operating the bank account itself is reduced because the funds are sent directly to the main account rather than detained in a VBA.

With B2B Pay, you:
  • Receive free SEPA payments from 36 EU countries in 2 to 12 hours
  • Perform separate payments to 36 EU countries
  • Save 30 € on Swift costs and + 80% on currencies
  • Take advantage of the conversion automation FX
  • Use its IBAN to integrate markets and payment gateways
  • Access Premium brokers to make global payments in 138 currencies
  • Receive instant notifications of incoming payments
  • Take advantage of online integration
Non -resident bank account
Faster
Communication
Financial viability

A world exporter in Brazil does not yet have the necessary volume to create subsidiaries or a non -resident bank account in Europe, so he is forced to use electronic transfers. These come with transaction costs from 3% to 6% and – almost certainly – delays. Neither the sender nor the recipient are kept informed of the advancement of the transaction. Non-resident bank accounts are free to settle down and only include transaction costs of 1%. Money arrives quickly and both parties are informed at each stage of the process

B2B transfers are smarter with B2B Pay

B2B Pay offers its customers different types of bank accounts: personal and business, government, for students, as well as accounts for NGOs and small and medium -sized enterprises. Each of these accounts has a European IBAN number, allowing our customers to access safer, faster and cheaper banking transfers in SEPA and SWIFT systems.

You don’t need to be a resident in Europe to have a European account. Our solution allows our customers to receive payments in Europe, while each payment on their non-European and non-resident bank accounts will be sent for 1% higher costs than the average rate of the.

B2B Pay is based on a combination of a non-resident bank account in Europe with the best rates for international money transfers to your national bank account outside Europe. If you have customers or partners in one of the 36 countries in the SEPA zone, they will now be able to make a basic local payment without having to know the reference numbers or to provide additional information to their banks, directly to your own no – resident bank account.

European bank account for non-residents

If you live in Europe, opening a European bank account is easy. Everything you need is proof of your residence, with a current address (for example some phone bills that include it) and an identity card. But opening a bank account in Europe without residence is either very expensive or impossible. If you want to open a personal bank account, your options are quite limited. The opening of a corporate bank account is even more difficult and will cost a fortune in various costs related to the implementation. The service that we offer is perfect for those who do not need all banking services in Europe, but who rather wish to send and receive money between their customers, partners or customers.

Opening of a personal bank account in Europe

Some banks will allow you to open an account if you are not a resident, but most will refuse you as a customer as a customer.

Opening of a professional bank account in Europe

It is possible to open a European professional account without a company registered in Europe if you have a sufficiently high volume of transactions, from 10 million euros per year. However, banks will always ask you to create a subsidiary in their country, which is a long and costly company, involving lawyers, accountants, listeners and accountants.

Opening of a non -resident bank account

It is now possible to open a non-resident bank account without a company or address registered in Europe. The bank accounts of non-residents have considerable advantages, both for private customers and for businesses, governments, NGOs. Such a account means a free IBAN which allows you to receive payments from all SEPA countries and to return them instantly to your account outside the SEPA area for a fraction of costs.

Why is it so difficult to obtain the service you expect from traditional banks as non-residents?

Many people without residence in the European Union need a bank account in Europe for a very specific reason. However, banks generally try to sell complex packages to new customers including unnecessary checks, credit cards, global payment services, insurance, credits, etc.

Due to this business model and the requirements that result in risk management and compliance, the request of an account easily becomes a bureaucratic nightmare that requires a lot of efforts and time. This is why a non-resident bank account with B2B Pay is a practical alternative.

What does it do to have a non-resident bank account in Europe?

With a non-resident bank account, you get the service you need without the costs and complexity of a full-fledged bank account. For example, if you want to collect payments in Europe, you are probably little interested in sophisticated online banking services, bank statements, audit reports and dozens of other additional options.

What is a virtual bank?

A virtual bank is a bank without the tracas associated with traditional bank accounts. In general, a person can open such an account in a few minutes, simply using the telephone call or by filling out an online form. There is no need to visit a local branch, where you then sign a mountain of documents. With a virtual bank, your funds are safe because the account is regulated exactly in the same way as “traditional” bank is: by EU laws and national authorities.

Which is even more important, a virtual bank works with several banking networks simultaneously, which means that it is like having several banks in a. And a non-resident virtual bank account with a free virtual Iban is currently one of the most popular products in the banking world.

  • Security: Choosing Safe Virtual Banking Partners is important. However, by Default, Virtual Banks are a safer alternative Thanks to modern technology.
  • Better Rates: Becaus of A Lean Approach to Business, Virtual Banks Are Much More Affordable To Operate and Thus Can Offer Below Average To All Banking Services.
  • Mobility: Agility is Key Both in Business and in Personal Lives. The Fact that with a virtual bank you can open a bank birthday in Minutes Instatead of Hours and the Fact that you can transfer money globally from your Mobile Device Are Examines of the Advantages of Virtual Banks Against Their Traditional Counterparts.
  • Bank Relationships: All Virtual Banks Operate on Top of Traditional Banking Infrastructure Becaus They Are the ONY ONES – Normally – Allowed to do so. This means that the Ability to Create Bank Accounts is a Heavoy regulator Matter and Thus It Takes Years to Gain Leverage To Be Fully Independent. Yet, the Technology is independent and Thus the Operations Are Far Ahead in Terms of Speed, Security and Ease.
  • Transaction from: Being Manual Affairs, A lot of the World of Banking We Grew Accusstomed to are simple prone to Human Error. Digital Technology Allows the Virtual Banking Industry: from onboarding to scanning your ids, from VERIFYING CREDIT TO Automating Currency Conversion, it is all automated for convenience and cost Savings.
  • Better Service: since all the biting and menial tasks are automated, virtual banks are better able to assist you. It is that simple.

A company without virtual iban account misses

By looking at the market from this point of view, B2B Pay recognizes the need for a simpler entry to do business inside the euro zone and Europe as a whole. If you are a world exporter who does not yet have the volume to install subsidiaries in Europe, necessary to meet the requirements to open a traditional bank account, you must trust the electronic transfers of your importer. This often means delays and high fees from 3% to 6% per transaction.

With the B2B Pay virtual Iban account, you can receive payments as if you are running your business in Europe. With B2B Pay, you can open a non-resident bank account that provides exactly what you need from a bank account. There will be no applications or complex compliance processes or additional costs for the services you don’t need. It’s just great for the company.

The non -resident bank account B2B Pay with IBAN in Europe

B2B Pay offers a simple solution: after a basic compliance check, you will get your own European Iban number. You can then benefit from free bank transfers of B2B importers in the 36 SEPA countries. B2B Pay instantly transfers money to your national bank for a much better price: up to 80% cheaper than when using traditional bank transfers and other services. There is also no maintenance costs.

After creating your account, you will receive your free IBAN account number. You can use it immediately in your invoices and contracts with customers in the SEPA zone, which includes all the main European countries. You will receive a notification when the money has been transferred to your account.

Between which countries work our B2B transfers?

Non-resident bank account for customers based in the United States

For American companies that regularly export goods or services to Europe, an IBAN B2B PAY number constitutes a simple and fast alternative. This offer includes non -profit organizations working with partners in Europe, for example.

Non -resident bank accounts for India customers and individuals

Indian exporters, but also workers, students and non -governmental organizations, can hope to save even more money and paperwork with a non -resident bank account in Europe.

Non-resident bank account in the United Kingdom

British citizens who need a non-resident bank account in Europe can get one with B2B Pay. Expect to save 80% on costs and more paperwork.

Other countries

We also work with customers in other countries, including Canada, Brazil, Indonesia, Hong Kong, Singapore, Japan, China, Chile and South Africa.

Full European bank account for non -resident companies

We receive numerous requests from companies who wish an online bank account in its own right in Europe, but which cannot obtain one because their company is not located in the European Union or in the EEE zone. We have done a lot of research on this subject both when creating the B2B Pay virtual bank account and trying to help customers. One way to get it is to record your business in Europe and request it in your local branch. If you want to know more about it, we have prepared this article with advice and resources useful for you. Another is to try a solution like ours.

Obtain full online bank account in Europe

If you are not a European company, it is complicated and expensive to obtain an account in Europe.

Here are the “basic rules” to obtain a non-resident bank account in Europe:

    You make a large deposit of funds (around € 100,000) on your new account, or

You have monthly transactions of € 50,000 more incoming on this account and are ready to pay fees by transaction, or

You are ready to pay between € 300 and € 700 monthly maintenance fees, or

You are very profitable, you need a European account and you do not care about the costs.

But just because you are eligible to get it. Nowadays, there are many options that will be enough for the basic banking needs of a regular company. For example, if you need an account to pay wages in Europe, there are much cheaper alternatives, such as our account, or, for example, by transfer. If everything you need is to collect the payment, you can opt for a virtual account provided by B2BPay

Why are the accounts so expensive or require a significant deposit?

For large banks in Europe, the costs of conformity linked to the maintenance of customers abroad are very high and they consider that this is a high -risk case. Therefore, in order to cover the costs and time associated with the opening of an account for you, they ask you to file significant sums of money in warranty. It is more logical for them to ensure significant cash flows and an opportunity to generate income on transaction costs. If you do something that is considered at high risk, whatever your amount of money, you will not even be able to open an account. That said, there are many reasons to open a bank account in Europe. They are practical if you manage incoming and outgoing payments, they help reduce risks by maintaining cash flows in Europe and they help you meet customer needs in a more flexible and less expensive way. I tried to classify the people you should consider approaching according to the type of supplier:

Your options

Large banks in western Europe level 1

Think of Barclays, Rabobank, HSBC, Nordea, Santander, BNP Paribas, Abn Amro etc.

These multinational and global financial institutions have relatively strict requirements for their new customers. They prefer low -risk customers with long history, such as manufacturers, IT companies, companies dealing with import / export. You will also have to prove that you have sufficient capital to deposit large sums of money, from € 100,000, and that they will generate many income thanks to costs. They welcome business with significant international payments and exchange covers. If you belong to this category, you have a good chance of obtaining an account with one of these great players.

What are the advantages of creating an account with a large traditional bank? You may be sure that the transaction costs will be lower on high transaction volumes, but also count on their good reputation, their overall expertise, their safety and their professionalism.

Second level banks (mainly located in the eastern part of the EU)

The banks of the new EU member states, mainly from Eastern, southern and central Europe, have innovated in the banking and financial system in recent decades.

They played an important role by providing free access to banking services to non -European customers, who otherwise could not open up account to the major established financial institutions in the West. These new banks are very good at offering the latest technologies (perhaps the most outstanding is the fintech in Estonia), but they do not have the international reputation and the scope of their Western counterparts. Global finances have always been managed since Frankfurt, London, New York and Amsterdam.

The general requirements of these second -level institutions are easier to satisfy than they would be in Germany, but you must always be ready to pay high costs high or have a high turnover (of 50,000 € +). The costs can reach 1% for incoming transactions, but can also be negotiated depending on the volumes. You can expect to be impatient to take risks and try new ideas, so these banks generally accept customers from most countries in the world and most sectors. Count on a reasonable diligence possibly longer.

Electronic portfolio suppliers

Electronic portfolio providers cost cheaper for account maintenance costs and require less volume per month (10000+), but they generally charge higher costs per transaction to compensate for this. If your volumes increase, remember – everything is negotiable.

Card payment processors

If you are a small business or you just start in Europe, it might be your best option. Transaction costs are raised in this case, but configuration costs and account holding costs are low. In general, these types build their technology on Mastercard or Visa payment platforms. If you have any questions or suggestions regarding this article, send us a message to [Email Protected] .

Additional readings

Open an account in an online bank outside France by being French

Opening an account abroad can have some significant advantages, in particular in terms of dilution of the risk by diversification of currencies or return. In these times of monetary uncertainty, it is indeed not incongruous to want to open an account outside the euro zone or labeled in dollars. Small point on the question.

Open an account to the strange by being French

In the web time, the internationalization of exchanges and free competition, one could legitimately think that opening an account with an online bank outside France is a simple choice feasible in a few clicks. It is clear that things are not so simple ! Like French online banks which all require their customers to reside in France, their most famous foreign counterparts are not very open to the reception of non-residents. By seeking well, however, some solutions exist.

Online banking solutions outside France today available

Several online banking solutions outside France are now available. They are emanating for the moment of small establishments but which are tending to grow. They allow you to benefit from unpublished yields in France and offer the possibility of liberating the account in a different currency from the euro. Banking prohibitions will find a solution most of the time more advantageous (free cards, lower account holding costs, etc.) just in France. Some examples of these online banks outside France that can meet your needs ..

Open an account in an English online bank

Revolut : Created in 2014 and based in London, Revolut offers 100 % online banking services via an application. It offers free account holding, mastercard or virtual card and does not require costs on purchases made abroad or on international transfers. These are possible in 25 currencies. Since October 1, 2017, the App and the Revolut site have been available in French.

Open an account in a Portuguese online bank

Banco Best (Bestbank) : If Portugal is neither outside the euro zone nor a tax haven, this Portuguese online bank allows you to read a dollar account and offers yields higher than those available in France.

Open an account in a German online bank

N26 : This bank offers you a hosted account in Germany. French customers benefit from free bank card and its use in TPE. Withdrawals from the DABs of the euro area is charged € 2 after five withdrawals per month while a commission of 1.7 % of the amount of withdrawal is applied to currency withdrawals.

Open an account in an online bank elsewhere in Europe

Ipagoo : an innovative concept that allows in a few clicks to open one or more accounts in the United Kingdom, Spain or Italy. No minimum income or outstanding is required. The account – which can be denominated in euros, dollars or sterling books – is managed via an Android or iOS application. Each account with its associated card costs only € 3 per month !

Opening an account in a foreign digital bank being French becomes possible

We can see, the solutions to open an account with an online bank outside France are starting to arrive ! Good news, especially for all those who plan to choose a digital bank. They will find offers more easily and without the restrictions imposed on them in France !