Best e-money account in Europe – Private and Corporate

Opening e-money accounts

An e-money account is similar to a virtual bank account that holds electronic currencies with real money value. You can hold an e-money account with an e-wallet, e-bank, Electronic Money Institution account or payment company.

With an electronic money account you can enjoy all of the services of a regular bank account but with a number of important additional options:

  • An e-money account can be used for rapid electronic transactions.
  • The service can be accessed from anywhere in the world.
  • At any time – night or day.
  • There are low or no charges.
  • Your information is protected by a highly encrypted security system.
  • Your card is linked to your e-money account so that you don’t need to give your card details every time you make a transaction.

Special features of an e-bank account for businesses

As with regular banks, you can open a personal or corporate account with an e-bank. You can also carry out transactions that you would normally make through a regular bank including sending and receiving funds, connecting a credit card to your e-money account, making payments, and exchanging currencies.

In addition to the services you would have with a regular account, an e-money account provides you with the advantage of mobile banking with advanced UI and multiple login options from multiple devices including desktop, handheld and mobile.

Apply for an e-money account

    What can you do with an e-money account?

    • Make bulk payments.
    • Send and receive funds from anywhere in the world.
    • Use your e-money account as an operational account.
    • Make international payments.
    • Enjoy free or low cost transactions.
    • Have immediate access to all transaction records at all times.
    • Have prepaid business debit cards connected to your e-money account.

    What is e-money?

    Electronic money or e-money is monetary value stored digitally. Digital currency allows users to make cashless payments using technical devices like computers, mobile phones or cards. The money is not held in physical form (coins and notes) but the value is moved electronically from account to account; buyer to seller; customer to supplier etc. At any time, you can transfer the electronically stored funds to your brick-and-mortar bank account, draw real money from an ATM in its physical form or use the e-money to go on making digital transactions.

    How to open an e-money account

    It only takes a few minutes to open an e-money account, as you can see when you open a virtual bank account in Europe. All you will need is a device and Internet access. Choose an e-money provider and fill in the online form with the relevant personal details, e-mail address and mobile phone number. Then enter your bank details or credit card details to link your e-money account to a physical bank account. Your information will be processed instantly and you can start making transactions from your new e-money account by logging in with your password and username.

    E-money and mobile apps

    When you download an e-money app to your smartphone you can use it to access all of your accounts from anywhere in the world, at any time. Your e-money app provides an e-wallet where you can store your accounts and have them at your fingertips at all times – including bank accounts, credit cards and e-money accounts. Using your e-money app you can send money to people even if they don’t have an e-money app by using their e-mail address or mobile phone number. An e-money app can be used by business people to stay up-dated on their finances; make mobile money transfers; mobile payments and control their business accounts through their phones. An e-money app can perform the functions of a money transfer app as well as additional functions and services including bank transfers, currency conversion, cards etc.

    What is an e-wallet?

    E-wallet is a software application on an electronic device where monetary value is stored as e-money and your payment information is saved so that you can make purchases using your stored funds.

    An e-wallet or electronic wallet stores your credit cards, e-money accounts and bank account payment details on a digital device like a computer, smartphone or card. You can then make purchases from your e-wallet using the e-wallet app. To be more specific about the terminology – a digital wallet can be accessed via either a computer or a mobile device but a mobile wallet is only accessed via a mobile device. They are both referred to as e-wallet. The e-wallet is made up of software and encrypted payment information (e.g. shipping and billing details). Merchants offering an e-wallet payment option will see more conversions as customers will find checkout more streamlined and secure. Once you have installed e-wallet software on your mobile device or computer, the e-wallet can be used to make payments from your bank account, card or e-money. You can preload your e-wallet with e-money, and spend it using the e-wallet. Examples of e-wallets are PayPal, Skrill, Neteller and EcoPayz, ApplePay,  Visa Checkout, Android Pay and many more..

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