Opening a business bank account
Opening a corporate or business bank account in Europe can be a straightforward or frustrating process, depending on your company’s structure, activities, and jurisdiction. Most traditional business banks will require:
Full company documents (Articles of Association, incorporation certificate, shareholder structure);
Proof of business activity and intended operations;
KYC and UBO (Ultimate Beneficial Owner) identification;
Local address or substance (in many cases).
Some business banks may also request a business plan, website, or contracts with clients, mainly if you operate in a high-risk sector, such as cryptocurrency or the payment industry.
The challenge? Business banks are cautious, especially when dealing with non-resident founders or companies with remote-only teams. In places like Germany, France, or Belgium, local presence or director residency is often required. In contrast, jurisdictions such as Estonia, Lithuania, or Cyprus may offer more flexibility and digital onboarding, ideal for cross-border payment business or fintech startups.
Fintech and EMI accounts
Over the last few years, Electronic Money Institutions (EMIs) have gained popularity among European companies seeking faster onboarding, flexible banking alternatives, and modern APIs.
Although not technically banks, EMIs offer services that are often easier to access than traditional bank accounts, albeit not in a bank-like manner. Platforms such as Wise, Payoneer, Revolut Business, and Intergiro allow companies to:
open multi-currency IBAN banking accounts;
send and receive payments across the EU via bank transfer;
integrate with e-commerce or SaaS billing systems;
Access tools for expense management and virtual bank cards.
These payment solutions are beautiful to startups, freelancers, and remote-first teams. However, it’s essential to note that EMI accounts are not standard business bank accounts; they don’t offer deposit insurance, and particular services (such as lending or credit facilities) may be restricted.
Still, for many businesses operating online or across borders, fintech payment solutions offer a faster and more scalable alternative to traditional banks.
Payment processors and banking integration for European companies
Beyond having a business bank account, most companies also need a payment gateway or processor to manage day-to-day client transactions. A robust banking setup, combined with the right payment processor, ensures smooth cash flow and customer satisfaction.
Whether you’re billing in euros or accepting international payments, it’s crucial to align your banking strategy with the proper payment infrastructure.
Common bank-integrated providers in the EU include:
Stripe – widely used by SaaS and tech businesses, easily connects with bank accounts.
Adyen – robust infrastructure for large merchants and bank-grade compliance;
Mollie – strong presence in the Netherlands and Belgium with seamless bank transfers;
Checkout.com – crypto-friendly and connects with multiple banking systems;
PayPal – ideal for freelancers and small businesses, links to business banks worldwide.
Each provider has its onboarding requirements and risk appetite. For example, business payment dealing with virtual assets, high-risk industries, or marketplaces may face stricter reviews or require additional licenses (such as a VASP or EMI license).
It’s also worth noting that local preferences matter. In Germany, many customers expect SEPA direct debit. In Eastern Europe, card payments are the most prevalent. Selecting a payment processor that understands regional payment preferences can enhance customer conversion rates.
Fintech, Crypto, E-commerce
If you operate in fintech or crypto, your banking and payment journey will likely involve extra steps.
In many cases, traditional banks will decline crypto-related businesses even if the company is fully licensed. As a result, many startups in this sector seek out crypto-friendly banks, such as Bankera or LHV, or digital-first banks in jurisdictions like Lithuania. Others opt for EMI banking solutions that specialize in supporting high-risk or niche markets.
Companies planning to offer wallet, exchange, or tokenization services may need to:
Register as a CASP (Crypto-Asset Service Provider) under MiCA
Obtain a Virtual Asset Service Provider (VASP) license in a local jurisdiction
Implement strong KYC/AML policies before accessing payment infrastructure
For e-commerce brands, the key issue is often chargebacks and fraud protection. Payment processors that offer dispute resolution, real-time monitoring, and multi-layered verification help reduce losses and maintain high processing limits.
Multi-bank setup in the EU
In 2025, many European businesses follow a multi-bank strategy that involves working with several banking providers instead of relying on just one. This typically includes:
A traditional EU bank for regulatory standing and credibility;
An EMI or fintech bank account for operational flexibility;
Additional business bank partners or payment processors that are optimized for specific transaction needs, industries, or regions.
An efficient payment and business bank setup is the foundation for scaling a company across European markets. It influences your reputation, operations, and long-term strategy. Whether you use a traditional business bank, a digital banking solution, or combine several payment platforms, the key is finding a setup that supports your model and growth goals.
Suppose you need support in choosing the right payment tools or opening a business bank account in Europe. In that case, our team can help you evaluate providers, prepare your compliance documents, and structure operations to ensure smooth and secure payments.
At Manimama Law Firm, we assist European companies, particularly those in the tech, fintech, and crypto sectors, in establishing compliant and future-ready financial systems. Whether you’re opening your first account or expanding to new markets, we provide the legal and strategic guidance to do it right.
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Manimama Law Firm provides a gateway for the companies operating as the virtual asset wallet and exchange providers allowing to enter to the markets legally. We are ready to offer an appropriate support in obtaining a license with lower founding and operating costs. We offer KYC/AML launch, support in risk assessment, legal services, legal opinions, advice on general data protection provisions, contracts and all necessary legal and business tools to start business of virtual asset service provider.
The content of this article is intended to provide a general guide to the subject matter, not to be considered as a legal consultation.
