Expanding into European markets can create significant opportunities for businesses outside the EU. However, managing international payments, receiving funds from European customers, and paying suppliers can sometimes be challenging. Access to a business IBAN for a non-EU company can simplify these processes. Financial service providers such as WALLETTO offer payment solutions designed to help eligible international businesses access European payment infrastructure.
Beyond receiving payments, international companies also need efficient tools to manage everyday expenses. Business payment cards, for example, make it easier to pay suppliers, cover subscriptions, and control operational spending. Solutions such as a business card can help companies manage these financial activities more conveniently.
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Why Do Non-EU Companies Need a European IBAN?
A European IBAN allows businesses to send and receive eligible euro payments through the SEPA network. This can be particularly useful for companies working with European customers, suppliers, and commercial partners.
Key benefits include:
- Easier euro payments and transfers.
- More convenient financial management.
- Simplified transactions with European partners.
- Better support for international business operations.
Importantly, businesses do not always need to establish a legal entity within the EU to apply for European payment services. Eligibility depends on the provider’s requirements, the company’s jurisdiction, and compliance checks.
WALLETTO: Payment Solutions for International Businesses
WALLETTO is a Lithuanian Electronic Money Institution licensed and regulated by the Bank of Lithuania. It provides financial services designed to support businesses operating internationally.
Its available services include:
- European IBAN accounts: For receiving and managing eligible business payments.
- SEPA and SWIFT transfers: Supporting European and international transactions.
- Business payment cards: Physical and virtual cards for everyday expenses.
- Digital banking: Online access to account balances, transaction history, and payment services.
These solutions can help companies centralize essential financial activities and manage international operations more efficiently.
How Can a Non-EU Company Apply?
Opening a business payment account generally involves a Know Your Business (KYB) verification process.
Companies may need to provide incorporation documents, company registration details, identification for directors and beneficial owners, and information about their business activities.
Each application is assessed on a case-by-case basis, and approval depends on the provider’s compliance requirements and eligibility criteria.
