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Bank account in the European Union (IBAN)

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To open a bank account in the European Union (IBAN) is an ideal option to collect and save the payments generated by your virtual terminal sales outside of your country of residence. Working with foreign bank accounts specialized in payment methods allows you to save on commissions and optimize the currency exchange rates. Also, you will be able to sleep better at night knowing that the bank accounts in the EU are assured for total amount of 100,000 Euros in case of bankruptcy or fraud.

Reference: EC28374PO

$1055

Bank account in the European Union for virtual terminal

An account registered outside your country of residence, also called offshore bank account, is a financial instrument used to pay off your debts and receive money from sales outside your fiscal residence.

There are many reasons why our customers choose to open an IBAN bank account in the European Union, some of them are listed below:

Reasons to open a bank account in the European Union?

  • Bank account maintenance fees are much cheaper in countries with lower per capita income. That is, if you live in a country with a high per capita income your local banks will ask for high commissions. The countries with the lowest commissions to open a bank account in the European Union are: Malta, Latvia, Lithuania, Portugal, Czech Republic, Slovakia, Slovenia, Bulgaria, Germany and Romania.
  • Many European Union countries, such as Malta, United Kingdom, Latvia and Lithuania have favorable laws that stimulate the growth of e-commerce. Its banks are specialized in Internet commercial activities, foreign trade and multicurrency accounts. Banks in the EU offer all kinds of financial instruments related to e-commerce: debit, credit and prepaid cards, virtual terminals, dataphones etc.
  • If you are not a tax resident in another member country, you will not pay taxes twice: The client will be required to declare the bank account and pay taxes only in the country where he lives more than 183 days a year.
  • Opening an account in the European Union is safe: The bank accounts are insured for a total amount of 100,000 Euros in case of crisis or financial fraud.
  • Privacy: The accounts in the European Union are private. It is strongly forbidden to reveal personal or financial information about the clients if they have not committed any type of activity related to money laundering.
  • Having a bank account in the European Union help to avoids embargoes and seizure.
  • A client can open a bank account in the European Union regardless his nationality. The only 7 countries that have special restrictions for offshore bank accounts are: North Korea, Iran, Iraq, Afghanistan, Cuba, Libya and Sudan.

EU bank account fees

Approximate bank commissions and minimum deposit
Bank account maintenance fees150 Euros/year
Wire Transfer IBAN/SEPA3 Euros
Wire Transfer SWIFT25 Euros
Debit or Credit card60 Euros/card
Customer support in following languagesEnglish, French, German, Russian
Minimum deposit350 Euros


*The customer can open a bank account in any international legal currency they want, (Euro, Dollar, Canadian Dollar, Australian Dollar, British Pound, Japanese Yen, Swiss Franc etc)

*The process of opening a bank account doesn't require a physical presence of a client in the country, all efforts will be made through e-mail and / or registered mail.

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    Certified by a notary or notary public.
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    Certified by a notary or notary public.
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    Electricity, water, gas, telephone or bank statement.
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    in English.
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    Articles of incorporation of the company, memorandum of association, register of directors, registered shares certificates and for companies registered more than one

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