Accepting International Wire Transfers to Your Personal European Bank Account
These days it is possible to open a bank account without stepping foot inside of an actual bank branch. However, it is important to make sure that your business account can accept SWIFT payments in multiple currencies and not just SEPA transfer which have to be in Euro only. With a thriving business you will have occasion to receive payments in currencies from across the globe and your bank account needs to facilitate these transfers. With suppliers and customers within Europe SEPA payments in Euro is fine but for accepting and making payments in USD or other currencies you will need a business account that uses SWIFT. Not all European financial institutions use both SEPA and SWIFT. Even if your company only makes the occasional international transaction an account that can make SWIFT transactions is necessary. Having an account that uses SWIFT will allow you to do business worldwide. It is possible to open a European IBAN account even if your company is not registered in the EU. Visit swift code checker
Open European business bank account online
If you live in a EU country, you can simply visit a bank to open an account by showing proof of address or open an account online. However, if you are a non-resident of Europe you may find your account options limited. Non-residents of Europe will most likely have to make a visit to a brick-and-mortar bank to open a business account. Non-residents can usually begin the process of opening a bank account online but to complete the application they will usually have to visit a physical branch.
Opening a Bank Account in a Foreign Country
If you want to open a bank account in a country where you are not a resident, you will have to provide the financial institution with all the documentation that they require including government issued ID; proof of residency; address and maybe even access to your credit history. Each bank has its own policies on opening new accounts to non-residents. Most countries also require an initial minimum deposit. In the US, citizens must file a Report of Foreign Bank and Financial Accounts with the IRS if their foreign account balance exceeds $10,000.