The Best European Online Banks

Private and corporate customers in Europe are spoilt for choice when it comes to financial institutions offering banking services. The banking requirements of private individuals and businesses are different and banks that suit private accounts don’t always suit businesses.

What is an Online Bank Account in Europe?

With online banking in Europe you have access to all the regular features of a traditional bank but with the added convenience of being able to access your account and make transactions from your banking mobile app or desktop computer. Online banking in Europe is widely accepted, it receives the same regulation and provides the same safety and services as traditional banks.

Many customers choose online banks in Europe for their business and private banking needs. Whether you are looking for an online bank for your personal account or your business account there are certain must-have features of top online banks.

How do I find my swift code? Click to SWIFT Checker tool

Leading Online Banks in Europe offer:

Security – You’ll find that most online banks are fully licensed and authorized financial institutions and meet the same standards and requirements of traditional banks including mandatory funds insurance.

Cost Efficiency – Online banks in Europe operate at a much lower cost than traditional banks. These fully online banks save by not having to maintain a branch network and all the administrative costs that go with a brick-and-mortar establishment. These savings are passed on to the customers who pay low rates and fees for their online banking services.

Comprehensive Financial Services – If you use an online bank it does not mean that you have to give up on any of the services offered by traditional banks. You will still be able to have an international debit card. In addition, online banking makes it easy for you to block or unblock your card remotely; set permissions; receive payments; make payments; manage your account; get 24/7 customer service and all from the convenience of your own computer or mobile app.

Efficiency Through Outsourcing – Many of the leading online banks in Europe outsource some of their services to third party experts. Online banks can focus on more important issues while third party services handle the bank’s issuing of payment cards; currency exchange, customer service, compliance and AML checks and other activities. Customers gain from the expert third party services and from the savings online banks make through outsourcing. The online banks gain from outsourcing by saving themselves time and money.

Can I have a personal online bank account in Europe?

European residents with an EU passport can open private European online bank accounts easily. Not all European banks offer online registration. To open an online bank account in Europe you will need proof of address (usually in the form of a utility bill or other official letter with your name and address).

Can I have a business online bank account in Europe?

Being a legal resident of the EU entitles you to open a basic personal account but it does not automatically entitle you to open other kinds of accounts like a corporate account in Europe. To open a business online bank account in Europe you need to check with your chosen bank if they accept customers from your company’s jurisdiction and if they accept customers working in your business sector. If that is approved, then you will need to provide corporate documents; names and details of the company’s beneficial owners; KYC and AML. Some banks may ask to see a business plan and it is at the bank’s discretion if they want to ask for any other documents.