What do virtual bank account offer?
The term “FINTECH” is used by many of the companies operating as virtual banks, since they may not be licensed as banks in the EU.
Most of the virtual bank account describe the services they provide with some or all of the following terms:
- Receive, transfer and withdrawal of funds globally
- Mobile banking
- Virtual IBAN
- Foreign Exchange (FX/Forex)
- International Business
- Electronic Money Institution
- Multicurrency E-Wallet
What are your requirements for virtual bank account in europe?
The features to look for when choosing should include one or more of the following (tailor the choice to your own specific needs):
- Dedicated IBAN plus multiple linked virtual IBANs
- IBANs support different currencies in one single account
- Instant payouts and withdrawals from business to personal IBAN
- Multicurrency accounts
- Fast processing of payments and bank transfers in SEPA zone
- Fully automatic online procedures
- 100% digital access
- Make and receive cross-border bank transfers
- Payment processing gateway
- Engineered for business use
- Fast on-boarding
- Offers multiple accounts