Best European Business Bank Accounts (2024)
Looking for the best European business bank accounts? Find the best banks and non-banks for your business, as well as their prices, fees, and requirements.
Opening a business checking account is important for any LLC. This will facilitate business transactions and payments, and tax and accounting tasks. It will also offer personal protection by preventing business owners from becoming liable for company debts.
The best business checking account for an LLC is not always obvious. There are a wide range of accounts on offer - with different features and operating costs. For example, Wise Business is a smart banking alternative that’s great for international use.
Need an international business account?
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Chase Business Complete Banking℠ | $15 (waived for balances over $2000 and other conditions). |
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Bluevine Business Checking | No monthly fee |
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Novo Business Checking | No monthly fee |
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Bank of America Business Advantage Fundamentals™ | $16 (waived for balances over $5000) |
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U.S. Bank Silver Business Checking | No monthly fee |
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Wise Business | No monthly fee |
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Chase offers a comprehensive business checking account, with the convenience of online access as well as branch use. It is one of the few banks to offer combined checking and credit card services, using its own tools. There are also frequent account opening bonuses, as well as promotions for taking out a business credit card.
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⭐️ Trustpilot rating: 1.3 out of 5 |
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Bluevine Business Checking account is an online only option, ideal for small businesses or others who are happy to manage the account this way. It offers market leading interest rates on account balances, and no monthly fees.
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⭐️ Trustpilot rating: 4.3 out of 5⁴ |
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The Novo Business Checking account is an online only account, with interesting options for smaller and online businesses in particular. It specializes in offering extensive digital integration with other business and finance apps. It has no monthly fees, and no ATM fees domestically or internationally. Overdraft fees are high though, and there is no option for cash deposits, so this will affect some businesses.
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⭐️ Trustpilot rating: 3.9 out of 5⁶ |
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Bank of America offers the Business Advantage Fundamentals business checking account. This is a fully online account, but also has the option to use the Bank of America branch network. Fees are among the highest on offer, but it is possible to waive these by meeting balance requirements.
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⭐️ Trustpilot rating: 1.4 out of 5⁸ |
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U.S. Bank has an account offering that differs from the other major traditional banks. It provides the Silver Business Checking as a free business checking account. There are no monthly fees, and you still have access to physical branches for banking services.
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Small businesses that want the option of branch access, but without any account fees.
Businesses that can qualify for the high signup bonus.
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⭐️ Trustpilot rating: 1.3 out of 5¹⁰ |
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Wise provides the Wise Business account that is great for LLCs. Wise is not a bank, but a smart digital financial services provider. With Wise Business, you’ll get an online account with multiple features to manage your business with ease, and digital integration options. Wise accounts specialize in low-cost and convenient options for making and receiving payments in other currencies.
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⭐️ Trustpilot rating : 4.4 out of 5¹² |
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Get Wise Business today,
Easy to set up, easy to use
Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.
It is important to have a separate business checking account for your LLC. Doing so will protect the company members in the event of lawsuits or financial problems. Members will not become personal liability for LLC debts.
While this liability protection is an overarching reason to open a business account, a good account will offer many more benefits. Different accounts will suit different types of business. There are many different features, offers, access and deposit methods, and costs to consider for any business. These will help you determine the best account for your LLC.
Some of the main differences and features to look out for when comparing accounts include:
There are strict documentation requirements for opening an LLC business checking account. Once the LLC is opened and paperwork has been completed and filed, none of these should be difficult, however.
The documentation requirements vary between banks. However, they will usually include the following:
Business and incorporation details. This includes the LLC Articles of Organization (also known as Certificate of Organization or Certificate of Formation, depending on the state).
LLC operating agreement. This will specify the members of the LLC and who is eligible to sign on the company’s behalf.
Tax details. You will need an Employer Identification Number (EIN) provided by the IRS. As proof of this, you may require the EIN Confirmation Letter (575 CP) or EIN Verification Letter (147C).
Personal identification. Two forms of identity are usually needed for each beneficial owner of the business. This should include one government-issued identity.¹³
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All sources checked March 21, 2023.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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