Opening a business account online in Europe: useful tips
Doing business outside one country and settlements with foreign partners require the decision to open a European current account online. Such an account will help to profitably make cross-border transfers, avoid expenses due to an unfavorable currency conversion rate, increase the speed of settlement transactions, and have a currency reserve in the account.
Depending on where you want to open an online account in Europe, you will need to go through the appropriate procedures and provide a certain set of documents. Therefore, before opening a business account in Europe online, we recommend that you study the country’s legislation, familiarize yourself with the relevant requirements, prohibitions and permissions.
A few nuances that you may encounter before opening an account in Europe remotely are as follows:
- there are a number of European companies that do not serve beneficiaries from certain countries;
- the cost of service for non-residents is higher than for residents of a given country or EU citizens;
- time to open an account can vary from 1 month to six months, depending on the bank, jurisdiction, quality of documents preparation;
- all transactions carried out on this account will be monitored;
- the account can be blocked if suspicious transactions are detected, such as inconsistency of payments with the declared amounts, the type of activity of the company, there is not enough information on payments.
Benefits of using a European current account online
Opening an online current account is convenient because it does not require the client's personal presence during registration. And also the procedure provides for the issuance of a payment plastic card for comfortable payments. Today, such a service has become quite affordable and real.
What can a European current account be used for:
- for settlement transactions within the EU;
- to store the protection of funds from inflation;
- for the purchase of personal and real estate;
- to carry out investment operations;
- receipt and payment of wages.
Our clients, when opening a WestStein current account, have a number of advantages, including the support of financial experts, and round-the-clock access to finances thanks to the banking and payment card functions.
How to open a corporate account online in Europe
The European financial system is a guarantee of reliability, security and stability. Setting up a business in Europe requires opening a corporate account. Benefits of opening a corporate account online in Europe:
- availability of multicurrency transactions;
- remote control and management of funds;
- lack of currency control;
- the possibility of carrying out settlement and cash operations;
- guaranteed safety of deposits;
- opening an investment account.
WestStein bank account for business as an alternative to a bank account
A business account from WestStein is ideal for anyone who values their time: opening it is much faster than opening an account in a European bank. After all, each financial institution puts forward a lot of requirements for a package of documents. With WestStein you can do it in just a few minutes! We offer your business an international e-wallet e-money account that is independent of the company’s main bank account.
Opening a WestStein online corporate account is quick and easy. The operation takes no more than 5 minutes, and the client receives the card for free. To open it, you must fill out an online registration form. After that, a manager will contact you and provide all the information necessary to open an account. You can also consult on questions of interest to you regarding financial transactions.
To open an account, you will need to provide a package of documents, after which the application is considered and approved. You also need to calculate the number of cards for employees. Next, the electronic wallet is activated and you can start using it.
The WestStein online corporate account can be used to pay for goods and services for the needs of the company. Information about the transactions carried out by the account owner can easily be tracked in the application. It is also possible to set a limit on funds, thanks to which there will be no misappropriation of money.
The function of automating the payment of wages is very convenient. To do this, you need to set a regular payment in the appropriate amount.