Question 1

Which business bank account is best for EU companies?

Accepted Answer

Wise Business is the best overall choice for EU companies, especially those with international clients. It offers 40+ currencies, real exchange rates (0.33-0.41% FX fee), no monthly fees, and excellent accounting integrations. For teams needing expense management, Revolut Business is a strong alternative.

Question 2

What are typical business banking fees in Europe?

Accepted Answer

Digital business banks charge €0-25/month for basic accounts. FX fees range from 0.33% (Wise) to 2% (traditional banks). International transfer fees vary: Wise charges 0.33-0.41%, Revolut charges $5 per transfer outside allowances, and traditional banks often charge €10-25 per transfer.

Question 3

Can I get a multi-currency business account without a registered company?

Accepted Answer

Yes, Wise Business allows you to open an account as a sole trader or freelancer without a registered company in many countries. However, you'll need business documentation. Revolut Business and N26 Business also support sole traders with simplified requirements.

Question 4

Which currencies do I need for my EU business?

Accepted Answer

Most EU businesses need EUR (European Union), USD (United States), and GBP (United Kingdom) at minimum. If you work with Nordic clients, add SEK and NOK. For Eastern Europe, consider PLN and CZK. Wise and Revolut support 25-40+ currencies with local IBANs in 10+ countries.

Question 5

Do these banks integrate with accounting software like Xolo or QuickBooks?

Accepted Answer

Yes. Wise Business offers direct integrations with Xolo, QuickBooks, Xero, and 40+ other accounting platforms via API. Revolut Business also provides API access and integrations. Payoneer has limited integrations, while N26 Business lacks API access for automated accounting sync.

Question 6

Is Wise Business better than Revolut Business?

Accepted Answer

Wise Business is better for freelancers and SaaS companies prioritizing low FX fees (0.33% vs 0.6-1%), transparent pricing, and no monthly fees. Revolut Business is better for teams needing expense management, team cards, and built-in spending controls. Wise has better customer support ratings and more transparent pricing.

Question 7

Can I use Payoneer instead of a traditional business bank?

Accepted Answer

Payoneer works well as a supplementary account, especially for marketplace payments (Upwork, Fiverr, Amazon). However, it's not a replacement for a full business bank due to limited features, annual fees ($29.95), and fewer integrations. Most businesses use Payoneer alongside Wise or Revolut.

Question 8

What are the real costs of Wise Business?

Accepted Answer

Wise Business has no monthly fees. Costs include: (1) Setup fee of £45 in UK, free elsewhere, (2) FX conversion fees of 0.33-0.41% depending on currency pair, (3) SEPA transfers are free, (4) International transfers cost 0.33-0.41% + small fixed fee. A €10,000 EUR to USD conversion costs approximately €33-41.

Provider	Wise Business 🏆 Recommended	Revolut Business	Payoneer	N26 Business
Pricing
Monthly Fee	Free Pay only for transactions	Free-$119/mo 4 tiers available	$29.95/year Annual account fee	Free-€16.90 4 tiers available
Account Features
Supported Currencies	40+	25+	Multiple	EUR primary
Monthly Fee	€0	$0-119	€0	€0-16.90
Setup Fee	Free (UK: £45)	Free	Free	€10 (card)
Local IBANs	10+ countries	EUR, GBP, USD	EUR, GBP, USD	German IBAN
Multi-currency Debit Card
Fees & Costs
FX Fee	0.33-0.41%	0.6-1%*	0.5-2%	1.7%
International Transfer	0.33-0.41%	$5*	Up to 1% + $4	Varies
SEPA Transfer	Free	$0.20*	Varies	Free
Integration & Tools
API Access
Accounting Integration				Limited
Mobile App
Team Access
Summary
Best For	Freelancers & SaaS companies with international payments	Teams needing expense management and control	Freelancers on marketplaces (Upwork, Fiverr)	German freelancers with EUR-only needs

Business Banking Comparison 2025

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