Bank account opening for companies in Europe
International Bank Account Number (IBAN) is the bank account format initially adopted by the European Committee for Banking Standards to be used in Europe and widely accepted Worldwide. IBAN format consists from 34 symbols including country code, bank code, individual account number and refers to the specific bank account owned by the beneficiary.
European banks are subject to strict anti-money laundering and other regulations. As a result of that European bank account opening is the complex procedure which requires specific knowledge.
– Online client identification. Account opening and client identification can be done online without physical presence of the client in the branch.
– Online remote account management. Internet payments and currency exchange can be done via consumer-friendly internet application.
– Payment cards. Accounts linked to the payment cards. Payment cards acquiring.
– Payment processing for internet merchants. Payments collection for online shops and internet merchants.
– Insured client funds. Client funds up to EUR 100 000 in the bank accounts are insured under the European Union client deposit insurance scheme.