Can an Indian Business have a European Bank account?

As an Indian business offering exceptional services to your European clients, do you struggle with receiving payments? Several Indian businesses face this frustrating problem. Luckily, we have some news that can help you out! In this blog, we will discuss a better way to receive payments from your European clients. You can open a European bank account even if you’re a non-resident. And you can avoid high fees and long delays. So, keep reading and take control of your business’s money transfers. Let’s get started!

Benefits of a European Bank Account for Indian Businesses

For Indian businesses, having a European bank account offers a range of advantages. Here are a few key benefits:

1. Simplified transactions with European-based customers and vendors: With a European bank account, businesses can effortlessly send and receive payments in Euros. This helps streamline the payment process. You also establish a local presence which helps foster trust with European clients and vendors.
2. Enhanced credibility with European partners and clients: Having a European IBAN can boost your credibility while dealing with European-based clients. It shows your commitment to doing business in the European countries. Having a local presence helps facilitate long-term relationships.

How Can I Get a Bank Account?

When it comes to opening a European bank account, you have two primary options: traditional banks and digital banks. Let’s take a closer look at each:

1. Traditional Banks: Opening a non-resident account for Europe with a traditional bank typically requires a few documents. They are proof of identity, proof of address, and, in some cases, proof of income. However, the process is long, pricey and challenging. Banks impose high minimum balance requirements or strict eligibility criteria. For example, they may ask you to maintain a substantial amount in your bank account and charge you high fees.
2. Digital Banks in Europe: Digital banks are a convenient way to manage your finances, accessible through your phone or computer. No need to visit a physical branch – everything can be done online. These banks offer various services, such as checking your balance, obtaining loans, and even providing a virtual multi-currency account where you can effortlessly handle different currencies all in one place.

What makes digital banks even more appealing are their low fees and higher interest rates on your money. Plus, their user-friendly apps and reliable customer support make banking a breeze.

It’s important to remember that each bank has its own set of rules and services, so it’s a good idea to check their websites or reach out to them directly for accurate information regarding international bank accounts and digital banking.

So, whether you’re looking for a checking account, savings account, or the convenience of managing multiple currencies, digital banks have got you covered. Accessible anytime, anywhere, these online banks offer a seamless and efficient banking experience, putting you in control of your finances.

Winvesta – The Quickest and Easiest Way to Open a European Bank Account

Winvesta’s global collection accounts offer a simple solution for businesses to receive payments from European clients and facilitate money transfers. It provides an International Bank Account number (IBAN) and sort code to make receiving payments easier without complications.

The account can be opened quickly and easily online with a valid ID without needing a Europe-based representative or a physical presence in Europe. This saves businesses time and money, allowing them to focus on what they do best instead of worrying about administrative details.

Not only can you get a European IBAN, but you can also get a US account number, CAD receiving account, and UK bank account number. You can also receive payments from over 180 countries in over 30 currencies, making international money transfers hassle-free. With rates starting as low as $3 + 0.99%, Winvesta’s virtual global collection account offers a reliable and cost-effective way to receive payments from clients in Europe and worldwide.

Conclusion

Opening a European bank account as an Indian business might seem challenging. But the benefits of having a European bank account far outweigh the difficulties. With a European bank account, it becomes simpler to make transactions with Europe-based clients and vendors. It also helps to gain credibility with European partners and clients and build long-term relationships. Luckily, an option like Winvesta exists, making receiving payments from clients in Europe and worldwide easy.

Open your Winvesta account today!