For companies operating across Europe, choosing the right account structure is especially important to manage international money transfers and multiple currencies efficiently.
Before you open a business account in Europe, it’s worth understanding the benefits and limitations of traditional bank accounts – and how digital solutions like amnis can enhance your international payment setup.
In this guide, you will learn:
- What a business account is and why it’s essential for companies and the self-employed
- What a business account can and cannot do, including legal requirements and practical limits
- The main advantages and disadvantages of opening a business bank account at a traditional bank
- What documents and steps are needed to open a business bank account in Europe
- How the foreign currency account from amnis serves as the perfect add-on to reduce red tape, lower global transaction costs, and save time
What is a business account?
A business account is a bank account specifically designed for managing a company’s finances, including corporate funds, incomes, and business-related payment transactions. It can be a great option while utilising any B2B payment methods.
For businesses that handle frequent online or card transactions, opening a merchant account alongside your business account can streamline payment processing and enhance your ability to accept payments from customers.
All taxable businesses are required to open a business account. Traditional business bank accounts currently have their limitations, which are explored in detail below.
What a business account can and cannot do
When you open a business account, you make it easier to keep track of your finances. You create a separation between your private and corporate account so that you have a better overview of your income and expenses. In Europe, this separation is not just a best practice, but a legal requirement for most company structures to ensure compliance with local regulations. Various types of business accounts are available to suit your business’s specific needs, such as business checking accounts, business savings accounts, and others tailored to specific purposes.
However, entrepreneurs quickly realise that a local business account is often not sufficient to meet the increasing demands created by international customers and suppliers. Exchange rates at the bank are not transparent and foreign currency transactions are costly and time-consuming.
Therefore, especially entrepreneurs doing business abroad should expand their company’s bank account with a digital foreign currency account from amnis to reduce the disadvantages of traditional accounts when it comes to international banking.
What are the advantages and disadvantages of a business bank account?
Entrepreneurs who open a business account have a better overview of their finances. Nevertheless, a traditional account is not enough these days if you are doing business abroad. The advantages and disadvantages of a corporate account at the bank can be summarised as follows:
Advantages of opening a business account at the bank:
- Separate business and private finances: When you open a business account, you create a clear separation between private and business cash flows.
- Overview of all transactions: A corporate account makes it easier for you to keep track of all transactions in your national currency.
- Easier bookkeeping: Your bookkeeping is made much easier as all expenses and income are in one place when you open a business account.
Disadvantages of opening a business account at the bank:
- High account maintenance fees: Compared to private accounts, most banks charge higher account maintenance fees for corporate accounts.
- Costly foreign transfers: Paying your suppliers with foreign currencies results in costly fees and unfavourable exchange rates.
- Long processing times: You can expect waiting times of several days before the money reaches your own or your trading partner’s account. Weekends and public holidays further delay the process.
- Non-transparent fees: Most entrepreneurs do not have a clear overview of the actual costs of a corporate bank account due to non-transparent pricing.
What you need to open a business bank account in Europe
Opening a business bank account in Europe typically requires several key documents and information to ensure compliance with local laws and banking regulations. While specific requirements can vary depending on the country and bank, the following are commonly needed:
- Proof of business registration: This includes a certificate of incorporation or registration with the relevant authorities, showing that your business is officially recognised.
- Identification documents: Personal identification (passport or national ID) of the business owner(s) or authorised signatories is usually required.
- Proof of address: This could be a utility bill or a lease agreement that proves the business’s physical address.
- Tax identification number (TIN): Often required to ensure the business is properly registered with tax authorities.
- Company bylaws or operating agreements: For certain company structures (e.g., LLCs, corporations), the bank may ask for proof of your company’s legal structure and operational guidelines.
Top 5 business account providers in Europe (2025)
When opening a business account in Europe, companies often look for providers with strong international reach and services that work across borders. Below is a comparison of five major providers that are highly relevant to European businesses in 2025:
| Position | Main markets | Ideal for |
| amnis | Offers add-on accounts to traditional banking to add more features and reduce international transaction costs. | Switzerland, Europe, Global | SMEs and corporates with frequent international transactions |
| Deutsche Bank | One of the largest banks in Europe, with a significant global footprint. | Germany, Europe, US, Asia | Large corporates, SMEs with international operations |
| BNP Paribas | One of the leading banks in Europe and the largest bank in France by total assets. | Europe, Global | Businesses in cross-border trade, SMEs, large corporates |
| Santander | Particularly influential in Southern Europe and Latin America. | Europe, America | SMEs, start-ups, corporates with EU and Latin American needs |
| UniCredit | A key player in Central and Eastern Europe, with a strong presence in Italy and Germany. | Italy, Germany, Austria, UK, Eastern Europe | Companies in Western, Central, and Eastern Europe |
amnis
amnis is a digital-first provider specialising in cross-border payments. Its multi-currency account enables businesses to receive, hold and send over 20 currencies from one platform and gain access to local payment schemes, multi-currency debit cards, advanced hedging tools and more – the perfect add-on to all types of business bank accounts.
Market share: Leading Swiss financial service provider.
Key segment: Targets SMEs, start-ups, scale-ups and businesses dealing with frequent international transactions and multi-currency needs.
Presence: Operates primarily in Switzerland, Europe, and is expanding globally with its digital-first approach.
Deutsche Bank
Known for its strong global reach, Deutsche Bank offers various banking solutions, especially cross-border services. With its presence in major international markets, it’s ideal for larger businesses requiring extensive financial services across different countries.
- Market share: Holds a large market share in Germany and has significant operations in Western Europe, the UK, and the US.
- Key segment: Focus on corporate banking, investment banking, and wealth management.
- Presence: Strong across Germany, UK, the US, Asia, and other global markets.
BNP Paribas
BNP Paribas is tailored for companies in need of cross-border banking within the EU. Its extensive network across Europe provides a solid foundation for businesses dealing with international trade inside the EU and beyond.
- Market share: BNP Paribas is the dominant player in France and has a strong European and global presence.
- Key segment: Specialises in corporate banking, investment banking, and trade finance.
- Presence: Mainly France, Belgium, Italy, Spain, and Germany.
Santander
Santander is a bank with a strong presence in Southern Europe and Latin America and combines traditional banking with modern digital solutions. It’s a strong contender for businesses that need reliable domestic and international banking coverage in specific regions.
- Market share: High market share in Spain, Portugal, and Latin American countries like Brazil. Santander also has strong operations in the UK and other parts of Europe.
- Key segment: Strong in retail banking, SMEs, and consumer banking, with a growing digital banking presence.
- Presence: Strong presence in Southern Europe, the UK, Latin America, and North America.
UniCredit
With its presence in 13 core European markets, UniCredit offers tailored banking services for businesses operating across Western, Central, and Eastern Europe. It’s a solid choice for regional companies looking for comprehensive corporate banking.
- Market share: Dominant in Italy and significant in Germany, Austria, and Eastern Europe.
- Key segment: Primarily serves corporates, SMEs, and retail banking customers.
- Presence: Strong in Italy, Germany, Austria, and Eastern Europe.
Take your business account to the next level with amnis
To open a business account at your local bank is no longer enough these days – at least if you are doing business abroad. With a foreign currency account from amnis, you can offset all the disadvantages of a standard bank account to save time and money.
With amnis you get:
- Physical & virtual multi-currency debit cards for your team
- FX rates starting from interbank +0.4%
- Smart FX hedging (forwards, limit orders & more)
- Virtual IBAN accounts
- Pay like a local via SEPA, FPS & SIC
- Real-time API for seamless system integration
- Multiple integrations with accounting, ERP & expense tools
- 24/7 self-service dashboard with full visibility
Take your business account with amnis to the next level to exchange, manage and execute international payments for business in over 20 currencies:
