Easily Open A Bank Account In Europe Online
In this comparison you find the best virtual banks offering bank accounts in Europe for people who need to make borderless transfers with partners in the SEPA area regularly. The following banks offer the possibility to open a bank account online in Europe to customers from Europe or partly even worldwide.
The Best Online Banks With Bank Accounts In Europe:
Borderless bank transfers
Banking for International Businesses Accounts:
- SEPA - IBAN (BE)
- UK account (account number + sort code)
- US account (ABA
- AUD account
- ATM: 2% ($250 free) | Currency Conversion: Actual mid market range Transfer fees: ~0.5% Debit Card: No fees (but conversion fees of 0.24 –3.69% if payment is in other currency)
- Lowest transfer fees
- Borderless bank account
- card cannot be shipped to all countries
- Debit card only (no real credit card)
- SEPA (DE)
- UK-account (account no. + sort code)
- US account
- ATM: £200/month for free; then 2%
- Currency conversion: up to 3.5%
- Debit Card: $29.95 / year
- Transfer fees: 0 - 0.5%
- Cheap international transfers
- Real money saver for travelers
- No credit check / Schufa-free
- Only for European residents
- Proof of residency required
- UK Account (GB) | SEPA - IBAN (BE
- FR Country Codes) | RON Accounts
- Account Fee: From £0/month Debit Card: FREE ATM: 2% (FREE limits) Foreign currency card spending: 2% (Free limits)
- 100% customer funds protection
- SEPA - IBAN accounts
- No proof of residency
- No "real" credit card
- Sign up only for EEA (Europe)
- bunq e-wallet
- SEPA - IBAN (NL Country Codes)
- ATM: €0.99 | Card: €9.00 per card + €2 to €3 p/m per card | Deposits: 1.5% | No transfer fees from Bunq's side
- IBAN Accounts
- SEPA / SWIFT transfers
- Credit Cards
- Support competence should improve
- Monthly account fee quite high
- SEPA - IBAN (LT Country Codes)
- ATM: €1.00 to €1.50 + 1.80 % | Card: €3.00 to €5.00 | Card Payments: from 0 to €0.10 + 1.20% | Different bank transfer fees apply
- SEPA - IBAN Accounts
- Schufa-free / No credit check
- Cheap currency exchange
- Card only for EEA (Europe)
- Daily ATM withdrawal limit only €600
- SEPA - IBAN (GBP & LV Country Codes)
- Bank transfer local: $3 | SWIFT 0.5% | SEPA EUR: $0.60
- Cards 2.6 to 2.9%
- ATM $2.60 (+ 2.6% MasterCard fee when abroad)
- IBAN bank accounts
- MasterCard (Prepaid)
- Good App
- No crypto wallets
- No real credit card
- SEPA - IBAN (DE)
- UK account (account number + sort code)
- ATM 1.7%
- No added exchange fees
- Regular Plan: €0/mo
- N26 You: €9.90/mo
- N26 Metal: €16.90/mo
- Cheap international transfer
- Good app
- No real credit card
- Fees for cash withdrawals in foreign currency
FinTech Banks – Open A Free Online Bank Account in Europe
Never before has it been so easy to open a new bank account as of now: Meanwhile, there are numerous FinTech companies, which can also be called virtual banks, where you can easily open a bank account online in Europe.
A whole series of such virtual banks are aimed at customers who need a European SEPA account in order to transfer money in the SEPA area free of charge or at very low cost. This especially makes sense for online business owner, expats, travelers and anyone who needs to transfer money across borders.
The accounts are real bank accounts with IBAN numbers, as they are held at real banks. However, you can open and manage your new account in Europe conveniently via the FinTech company from which you actually get the account.
Whether for companies or private individuals – the advantages of FinTech banks are becoming more and more popular. Just a few years ago, money transfers were delivered to the bank of trust in person or thrown into the mailbox. Bank start-ups are revolutionizing this sector from the ground up.
Innovation is at the forefront. The classic banking processes are being rethought and enhanced with additional features.
The smartphone is the focus of most FinTech banks, that's why they can also be called smartphone banks. Altogether there are more than a dozen, so a virtual banks comparison is definitely worthwhile. Since not every bank is suitable for everyone, and the services and priorities are sometimes quite different, you will need to have a closer look at the different services in order to find the best banking provider for your needs.
What Are FinTech Banks?
Definition: FinTech Banks refers to start-ups and companies in the financial technology sector. The term is a collective term for all companies that deal with innovation and further development of the financial sector through the use of technology.
However, FinTech banks are more than a digital bank. They specifically revolutionize processes so that users can use new features and products.
Online Banking As A Central Starting Point
More and more bank customers are turning to online banking. More than half of all bank customers manage their banking online, often via smartphone, which is why this area of banking is becoming increasingly important.
Traditional banks have to follow suit with their own apps and concepts. This is partly successful, but FinTech banks offer even more with their innovative concepts. And in particular the opening of an online bank account in Europe for cross-border banking is easiest with virtual banks because they are designed exactly for this.
The Enormous Benefits Of An Online Bank Account In Europe
FinTech banks create customer-centered approaches to reduce the costs associated with their own financial services and to promote them in the best possible way with new technologies.
Open European Bank Account Online
The European SEPA bank account opening at the Smartphone Bank is completely online. The verification of the customer also takes place simply through the internet, as the customer usually has to upload identification documents together with a selfie and possibly submit a proof of residence.
Access To Your Finances Everywhere
One of the biggest advantages is the flexibility that comes with a FinTech account. This enables customers to access the account balance via any device, carry out transactions and keep an optimal overview of current developments.
Depending on the application, there are numerous smartphone banks that offer a wide range of services based on financial technology. Thus the FinTech companies are partly specialized on:
- Self-employed, freelancers and entrepreneurs
- Small and medium-sized enterprises
- Travellers Business persons
- Travellers Private persons
- Saving private individuals
- Digital-savvy individuals
Note for the self-employed: Also take a closer look at our article about an Online Business Bank Account for self-employed, freelancers or online businesses.
European Bank Account with IBAN Included
In most cases, the FinTech banks have their own digital account, which enables them to send and receive funds within FinTech free of charge - with other users of the same virtual bank. In addition, one or more SEPA accounts with IBAN can be created in order to make "real" outgoing transfers.
Virtual banks also always offer cards for cashless payments or withdrawals at ATMs. These bank cards are either VISA or MasterCard, but are usually debit cards, not credit cards. With a debit card, you can only spend what is actually on the account. What is paid with the card is deducted directly from the account balance.
Withdraw Money Anywhere, At Low Or Even No Fees
The providers do not have a network of branches, but they simply use the existing machines and possibilities. This allows them to operate more cheaply in terms of costs and to compete more effectively with the bank. In addition, innovative systems and solutions such as easy-to-use apps or the free sending of money are made possible.
The Different FinTech Banks For An Online Bank Account In Europe
Over recnet years, many different virtual banking companies have evolved, offering innovative systems for individuals as well as business users and freelancers. The providers listed in our comparison table stand out on this basis and convince with modern services.