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The 11 Best International Business Bank Accounts in 2023 for Worldwide Banking Online

Dec 29, 2022
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Business owners and corporations who work with suppliers overseas or who have a large customer base abroad will be dealing with a lot of foreign payments and charges. Your domestic business bank account is probably not built well for international transactions, which is where international business bank accounts come in.

One option is to shop around the high street in your home country for banks with international business accounts. However, neobanks (also called challenger banks) often offer the most versatile and lowest-cost international business bank accounts on the market today.

Some neobanks do have banking licenses to issue credit, loans, and other services, while others only offer banking services through a digital platform. All the neobanks reviewed below are fully regulated and manage segregated bank accounts with licensed partner banks.

In this article, we will walk through the 11 best international business banks for worldwide banking. Since international business neobanks are easy to open remotely, these options are especially well-suited for companies with international business partners, e-commerce businesses, travelling expats, digital nomads, and independent business owners in the US, the UK, and the EU.

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Here are the top international business bank accounts available worldwide and in the US, the UK, and the EU:

What is an International Business Bank Account?

An international bank is a financial institution that offers financial services across borders and across currencies. A few services that international business bank accounts provide to clients include:

  • Accept payments in foreign currencies;
  • Access multi-currency accounts;
  • Send payments internationally to foreign suppliers;
  • Use credit cards without international transaction fees;
  • Apply for business loans denominated in foreign currency.

Clients of international business banking can be either individual freelancers or registered companies, although every international bank has its own policies and plans regarding the type of client it serves.

Business Accounts by International High-Street Banks

Whether you are a large corporation or a small enterprise, you may qualify for a high-street business bank that has international branches and capabilities. These are good options if you want credit cards, access to loans, and wealth management of your company's assets.

Even so, you have probably found that their opaque and bureaucratic registration process makes them difficult to open. They charge high monthly fees and almost always convert your currencies with weak exchange rates (this is a hidden fee called an exchange rate margin).

The following list consists of some of the most well known fully-licensed big banks in the United States and the United Kingdom that offer international business bank accounts:

Best International Business Bank Accounts Available Worldwide

NASA on Unsplash NASA space aerial nighttime electrical grid photograph of earth at night from the international space station ISS

Let's begin with the international category.

Not only can these bank accounts be opened by companies and citizens of several major countries around the world. They even give you IBANs and account numbers for bank accounts in several economic-powerhouse countries.

This allows you to receive payments in the local currency of your customers worldwide (saving you on the costs of currency conversions of your revenue back to your home currency):

Revolut Business — 🏆 Best Overall Neobank for International Business Banking

Revolut Business is ideal for teams that do business globally because the account allows you to hold and exchange 28 currencies, give your team members debit cards for free, and top up those cards in 150 currencies. UK-based companies can get GBP and EUR bank details while US-based companies can get USD and GBP bank details.

You can start Revolut Business for free, although the standard plan sets very low fee-free allowances. You will be charged a monthly fee for upgrading to the upper three tiers, which raises the free allowances for local payments and foreign exchanges. We think these paid tiers are worth it because the price is transparent AND Revolut will convert your money at the mid-market exchange rate and will waive fixed transfer fees.

Otherwise, Revolut will markup the exchange rate to around 0.40% once you exceed your free limits. To save money with the free plans, you can set up a desired exchange rate that will trigger a currency conversion once the mid-market rate meets it.

Account type: UK, EU, or US bank details (varies by jurisdiction).

Total cost: £0 per month.

Noteworthy: Forex futures rates, multi-currency balances.

Availability: EU/EEA, UK, Switzerland, and the US.

More info: See our full Revolut Business review.

Who is Revolut Business for?

👍 Revolut Business Advantages

  • Foreign exchange is done at the mid-market rate;
  • Hold and exchange 28 currencies;
  • Get paid like a local in the UK;
  • Integrates with your website to accept payments;
  • Provide cards to your team, and manage company-wide expenses;
  • Sophisticated team features and custom API access;
  • Connect to apps and accounting software for your business.

👎 Revolut Business Disadvantages

  • Free plan sets low monthly free allowances;
  • USD account details for US companies only;
  • US companies cannot get EUR bank details;
  • Free limits are set on domestic payments and international wires.

Payoneer — Best for E-Commerce

With a Payoneer account, which is free to sign up for, you will gain access to eight bank account details (including USD, GBP, and EUR) and integrations with world-leading e-commerce marketplaces, such as Airbnb or UpWork.

Payoneer expands your reach to online customers around the world, allowing you to get paid in their local currency. When you are ready to deposit your revenue into your home account, Payoneer will exchange the currency at the real mid-market exchange rate.

While Payoneer does charge a fixed fee of up to 2% per international transfer, it is transparent and competitive compared to traditional big banks. Payoneer is at its cheapest if you don’t convert currencies (i.e. withdraw USD from your Payoneer balance to USD in your American bank account). 

Account type: Current (Bank details for GBP, USD, EUR, AUD, CAD, SGD, JPY, and HKD).

Total cost: £0 to sign up.

Noteworthy: Connects to thousands of marketplaces, Pay UK's VAT.

Availability: Global.

More info: See our full Payoneer Review.

Payoneer software interface business bank

👍 Payoneer Advantages

  • Get paid into 8 local bank accounts;
  • Coverts foreign currency at the mid-market rate;
  • Withdraw multi-currency earnings into local account at low cost;
  • Pay UK's VAT directly from Payoneer balance;
  • Connect with thousands of online marketplaces;
  • Access working capital and manage cash flow;
  • 24/7 multilingual support.

👎 Payoneer Disadvantages

  • Withdrawing from Payoneer balance to local bank costs up to 2%;
  • Annual Payoneer debit card fee of $29.95.

Wise Business — Most Bank Account Details

Wise Business is a low-cost business bank account and card that allows you to manage money in over 50 currencies and gives you local bank details in 10 currencies (receive AUD, CAD, EUR, GBP, HUF, NZD, RON, SGD, TRY and USD).

You’ll be able to collect money seamlessly, withdraw money from e-commerce stores in up to 10 currencies, and use your 10 bank details to create invoices. When you're ready, convert your revenue denominated in foreign currency into your local currency at industry-low rates that can save you thousands compared to traditional banks.

Wise's strong point is its exchange rate transparency, always using the real mid-market exchange rate per transfer. Instead, Wise charges fixed fees per transfer, which range from around 0.8% to over 2%, depending on the currencies used in the conversion. Common conversions like USD to EUR may cost around 0.8% of the total transfer amount while obscure conversions like BRL to THB may cost around 2.2%.

To save money with Wise, you can set up a desired exchange rate that will trigger a currency conversion once the mid-market rate meets it.

Account type: Electronic Money Account (held by Barclays in the UK, Wells Fargo in the US, DBS in Singapore, etc.)

Total cost: £45 one-time opening fee.

Noteworthy: International transfers, 10 account details, multi-currency balances.

Availability: UK, EU/EEA, Liechtenstein, Norway, Switzerland.

More info: See our full Wise Business account review.

Wise Wise multi currency account platforms online

👍 Wise Business Advantages

  • Use the real exchange rate to convert foreign revenue;
  • Get account details in 10 currencies (incl. USD, GBP, EUR);
  • Batch pay up to 1,000 invoices and salaries at once;
  • Industry-low fixed fees per international transfer payment;
  • Integrate with accounting software like QuickBooks;
  • No monthly fees.

👎 Wise Business Disadvantages

  • One-time fee of £45 to get the 10 bank account details;
  • Around $4.00 for receiving USD wire payments;
  • Prices have been gradually increasing over time;
  • Minimal accounting software integrated;
  • Local ACH transfers are not free.

Best International Business Bank Accounts in the United States

Aditya Vyas on Unsplash Brooklyn Bridge, New York City, NY, USA

Next, let's take a look at the best international business bank accounts available to US citizens or to foreign nationals who own or direct an American-registered company.

To open an account with these business banks, you will need a legal business entity registered within the United States, such as an LLC (which is usually quite easy and cheap to set up). You will also need to supply your employer identification number (EIN), which is used to identify and collect your taxes:

Novo — Best All-Rounder in the USA

In the US international business checking account space, Novo has the most straightforward and transparent fee schedule that we have seen: no fees except for one overdraft fee.

You can get a physical or virtual MasterCard, which charges zero foreign transaction fees and reimburses all ATM fees (even for withdrawals abroad). Novo's digital platform allows you to track your sales and balances across many payment platforms like Etsy, Stripe, or Amazon.

Novo, powered by Middlesex Federal Savings F.A., allows you to integrate your accounting software, like Xero and Quickbooks. The online banking platform has also partnered with Wise to send your international money transfers at the real exchange rate.

Account type: Small business checking

Total cost: $0.

Noteworthy: Free payments and wires, refund at all ATMs.

Availability: the US.

More info: See their website.

Novo Business Bank Account

👍 Novo Advantages

  • No monthly fees and free incoming and outgoing ACH payments;
  • No fees for both incoming domestic and international wire payments;
  • Refunds at all out-of-network ATMs;
  • Savings and cashback rewards at select stores;
  • Large library of easily-integrated apps and software;
  • Integrated with Wise for wires and with Stripe for instant payouts.

👎 Novo Disadvantages

  • Insufficient funds charge of $27;
  • Does not provide business loans.

Brex — Best for Neobank Business Credit Card

Brex is an all-in-one financial platform that helps businesses grow and scale. Brex is completely fee-free, with no maintenance fees, ACH transfer fees, or incoming or outgoing domestic and international wire fees

While Brex does not have currency exchange services as Revolut Business does, Brex does also have an excellent platform for teams and for managing their spending with cards. Your team will receive MasterCard credit cards that earn you points toward cash rewards, gift cards, air miles, and more. The Brex credit card does not charge foreign transaction fees.

You can seamlessly integrate your business with popular software, such as QuickBooks, Xero, or Slack. Also impressive is its spend management software, which sets budget policies for departments and alerts you when expense anomalies show up.

Account type: Current

Total cost: $0.

Noteworthy: API access, team credit cards.

Availability: the US.

More info: See our full list of the best business banks in the USA.

👍 Brex Advantages

  • Build company’s credit score;
  • Set budget policy across company;
  • Offers credit card even as a neobank;
  • No foreign transaction fees by credit card;
  • No overdraft fees;
  • Mobile app access and cards for teams.

👎 Brex Disadvantages

  • Very low APY on idle cash;
  • Not transparent on exchange rate used on international payments.

Best International Business Bank Accounts in the United Kingdom

Jarrod Suda Platinum Jubilee at Buckingham Palace, London, England, UK in 2022

Let's go through the best international business bank accounts available to UK citizens and foreign nationals who own a UK-registered business.

To open one of these accounts, you will need to show proof of your company registration at the UK's Companies House. You can read our guide to learn more about how to set up a company in the UK. Here are your best online business bank account options:

Tide — Best for SMEs in the United Kingdom

Tide is an online financial platform dedicated to supporting small businesses and self-employed professionals such as freelancers, contractors, and consultants. Tide's app makes it easy for you to open an account in minutes.

What's more impressive is the administrative work that the app does for you, from automatically chasing unpaid invoices, to paying salaries, to reporting your taxes. Tide even allows startups and UK newcomers to use their address as a 'virtual office address' to ease the process of setting up your company in the UK.

The lowest-tier plan charges 20p per transfer, but domestic transfer limits increase quite a bit if you purchase a paid plan. ATM withdrawals always cost £1 and Tide never charges international card transaction fees.

If your business is expanding globally and you need to carry out international transfers, however, Tide may not be the right system for you. You may consider pairing Tide with international platforms such as Revolut Business, Wise Business, and Payoneer

Account type: Current (UK bank details).

Total cost: £0 per month.

Noteworthy: Free invoicing, Credit options.

Availability: the UK.

More info: See our full Tide review.

Tide bank card and app

👍 Tide Advantages

  • Invoicing included in all membership plans;
  • FSCS protection for ClearBank deposits;
  • Fee-free card transactions abroad (£1 for ATM withdrawals);
  • No credit checks are required at application;
  • Option to create separate accounts for different purposes;
  • Ability to sync accounts with accounting software.

👎 Tide Disadvantages

  • Only available for UK businesses;
  • Doesn’t support international payments (for most members);
  • No multi-currency accounts or foreign currency storage;
  • Must pay extra for dedicated support;
  • Fee applies to direct debits and cash deposits;
  • Cheque deposits not accepted.

Starling Bank Business — Fully-Licensed UK Business Neobank

The Starling Bank business account is designed best for sole traders and limited companies who operate their business in the UK. Sending money within the UK and receiving Sterling (£) into your account is free. Making payments in Sterling and withdrawing cash from ATMs also incurs no fees.

At £0 a month, you still get access to a fully-licensed UK current account, Starling Bank's feature-packed platform, and free Sterling transactions. For an optional monthly fee, you can add services to your account that match your business needs, such as tax reporting or business accounts in US dollars and Euros.

You will be charged for sending pounds outside of the UK. Starling Bank will use the exchange rate shown within the international payments page of the app and will charge a 0.4% transfer fee per transaction. If you decide to send it with a SWIFT payment, they will charge £5.50. 

Account type: Current (UK bank details).

Total cost: £0 per month.

Noteworthy: No UK transfer fees, no ATM withdrawal fees, cash and cheque deposits.

Availability: the UK.

More info: See our full Starling Bank review.

👍 Starling Bank Business Advantages

  • Free to get paid in Sterling and to transfer Sterling;
  • No foreign card transaction fees or ATM fees;
  • Integrated with Xero, Quickbooks, and others in bespoke app hub;
  • Cash and in-app cheque deposits.

👎 Starling Bank Business Disadvantages

  • Only offers multi-currency accounts in USD and EUR for a fee;
  • Charges x-rate margin and fixed fees for international transfers;
  • Upgrade needed to create and send invoices.

Best International Business Bank Accounts in the European Union

Markus Spiske on Unsplash

Let's have a look at the European category of accounts for international business banking.

Bank opening requirements will vary by partner, but clients must generally be citizens of EU countries or owners of companies registered in the European Economic Area (EEA):

Intergiro — Most Customizable for Established Enterprises

Intergiro is an excellent solution for larger, established companies registered in the European Economic Area, although sole proprietors are also allowed to sign up.

Its international business banking solutions include free inward SEPA transfers, multi-currency IBANs, wallets in 8 currencies (USD, GBP, SEK, NOK, DKK, PLN, AUD, EUR), and live mid-market rate currency conversions. The software lets you easily pay your business partners and suppliers in bulk. You can also set up 1,000s of automatic payments to streamline and simplify the finances of your large team.

More than just business banking, Intergiro also offers "banking as a service." When onboarding new customers, for example, you can leave the legal heavy lifting to them. This includes leaving the KYC onboarding compliance and physical ID verification up to Intergiro.

Account type: EUR IBAN (and up to 7 other currencies).

Total cost: Starter Plan at €9 per month.

Noteworthy: Receive payments in 8 currencies, live mid-market x-rate.

Availability: Businesses & sole proprietorships registered in the EEA.

More info: See their website.

👍 Intergiro Advantages

  • High-level API access for customization;
  • Offers free software demos;
  • 8 foreign currency accounts;
  • Unlimited free SEPA transfers;
  • Uses the mid-market rate for currency conversion.

👎 Intergiro Disadvantages

  • No free plan is available;
  • €1.50 per ATM withdrawal;
  • Charges fees for all non-Euro card transactions.

N26 Business — Great for EU Freelancers and Self-Employed

N26 is one of the best online banks in all of Europe and offers a business account that is very similar to its personal bank account product.

N26 is well-known for its sleek mobile and web app and almost non-existent fees. However, the N26 Business account is only available for freelancers and self-employed EU citizens — you cannot create a business bank account in your company's name.

If you are a freelancer in the EU and are already an N26 account holder, then this business bank account may be a convenient option to help you separate your business expenses from your personal expenses.

Account type: Current (DE bank details).

Total cost: €0 per month.

Noteworthy: Travel insurance, no ATM withdrawal fees, cash back.

Availability: the EU.

More info: See our full N26 review.

👍 N26 Business Advantages

  • 0.1% cash back on all purchases;
  • No foreign card transaction fees or ATM fees;
  • Unlimited free SEPA transfers;
  • Integrated with Wise for cheap international transfers.

👎 N26 Business Disadvantages

  • Does not offer a multi-currency function;
  • Only available to freelancers and self-employed;
  • Limited accounting and budget tracking software.

Best Analytics and Accounting Software for International Business Banking

Mario Gogh on Unsplash

For the providers in this last section, business bank accounts are not the primary offering. Rather, they offer access to their powerful software to track your spending, manage your team's expenses, onboard your customers, and get you paid out faster.

These providers may be best suited for freelancers and companies with steady cash flow and lots of business activity. Their tools can help you automate your systems so you can spend less time on day-to-day financing and focus more energy on strategic business decisions.

Let's have a look at industry leaders in the UK and in the EU:

ANNA Money — Excellent Customer Support in the UK

ANNA, which stands for, Absolutely No Nonsense Admin, can create, send, and chase your invoices, track your expenses, and sort out your VAT for you.

Their chatbot is quite sophisticated and can complete most tasks for you and answer most of your questions. If ANNA Money is unable to help, then you will be connected with real support people in the UK (Cardiff to be exact).

ANNA Money gives UK business owners access to a UK bank account, which accepts direct debits for free. You can also share a payment link with your customers to get paid digitally, schedule repeat payments, make bulk payments for payroll, and manage multiple cards. You can also take pictures of receipts instead of carrying around paper ones to neatly track expenses.

The Pay As You Go plan is free to sign up for, but charges 20p per local transfer in and out, 1% for currency conversions, 1% for accepting payments via payment link, and £1 per ATM withdrawal. Free limits increase as you pay into the higher tiers.

Account type: Current (UK bank details).

Total cost: £0 per month.

Noteworthy: Free invoicing, Award-winning support.

Availability: the UK.

More info: See their website.

👍 ANNA Money Advantages

  • Create, send, and chase invoices;
  • Instant in-app payment notifications;
  • Connect with multiple bank accounts;
  • Helps you calculate the tax you owe and has tax reminders;
  • 24/7 customer support available in-app and on phone;
  • Generate personal payment links for online payments;
  • Set up process in under 10 minutes.

👎 ANNA Money Disadvantages

  • Only available for UK companies;
  • No multi-currency accounts or foreign currency storage;
  • Fee for local transfers in and out for the first two plans;
  • High fees for paying in cash.

Soldo — Increase Your Financial Efficiency

Soldo's spend management software helps you get rid of excess spending and potentially fraudulent expenses to bring efficiency and transparency to your team and startup.

The software is highly adaptable to each company's business model and organizational structure. For example, you'll be able to map your organization and manage your department budgets, subscriptions, online ads, employee spending, and travel expenses. Plus, you can create multi-currency wallets and cards in GBP, EUR and USD — ideal for any company doing business across Europe and across the Atlantic.

As a spend management software, Soldo is not a customer-facing software. It does not issue payment links like ANNA Money or Stripe does. Soldo works best if you keep your money in the Soldo system and let it manage your money flows. If you withdraw money from your multi-currency wallets into your main bank account or withdraw cash, for example, you will be charged fees. You can learn more about such financial service fees here.

Account type: Linked to your main business bank account.

Total cost: Free Start Plan. £6 per user per month Pro Plan. £10 per user per month Premium Plan.

Noteworthy: Temporary virtual cards for specific budgets, control team spending on petrol.

Availability: EEA and the UK.

More info: See their website.

Soldo Spend Management Platform Software

👍 Soldo Advantages

  • Built for both employee and company spend;
  • Can instantly issue many virtual cards;
  • Wallets in GBP, EUR, and USD to manage major currencies;
  • Connect with Xero and other accounting software;
  • Custom budgets and rules to control your costs.

👎 Soldo Disadvantages

  • Not a bank account and must be paired with a business bank account;
  • Start plan is very limited and charges fees to issue cards;
  • Not transparent FX-rate for conversions of foreign currency wallets;
  • Can only withdraw funds to banks in the account holder’s name.

The 11 Best Bank Accounts for International Business Banking

Let's recap the 11 best international business bank accounts available worldwide as well as for business owners in the United States, the United Kingdom, and the European Union:

Best International Business Bank Accounts Worldwide

  1. Revolut Business — 🏆 Best Overall for International Business Banking
  2. Payoneer — Best for E-Commerce
  3. Wise Business — Most Bank Account Details

Best International Business Bank Accounts in the USA

  1. Novo — Best All-Rounder in the USA
  2. Brex — Best for Neobank Business Credit Card

Best International Business Bank Accounts in the UK

  1. Tide — Best for SMEs in the United Kingdom
  2. Starling Bank Business — Fully-Licensed UK Business Neobank

Best International Business Bank Accounts in Europe

  1. Intergiro — Most Customizable for Established Enterprises
  2. N26 Business — Great for EU Freelancers and Self-Employed

Best Analytics and Accounting Software for International Business Banking

  1. ANNA Money — Excellent Customer Support in the UK
  2. Soldo — Increase Your Financial Efficiency

Frequently Asked Questions About International Business Banking Worldwide

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