Opening accounts in payment services

Payment system
Opening fee

Payment services are increasingly popular in international business, including due to the tightening of conditions for opening Bank accounts for foreign companies, as well as the termination of services to non-resident customers by many popular banks. Today, there are a number of international payment services that allow convenient and secure non-cash payments around the world.

Payment service providers are licensed companies (non-Bank financial institutions) that provide their clients with the opportunity to make both domestic and international money transfers through their own Internet platform.

Both individuals and legal entities, including foreign companies, can open an account in the payment system. An account in the international payment system can be a good solution for small and medium-sized businesses that make frequent incoming and outgoing transactions on the account, for example, for companies engaged in Internet Commerce.

Opening an account in the payment services allows:

  • make money transfers;
  • use e-wallet;
  • to use card-based products;
  • exchange currency, etc.

Advantages of payment services

  • possibility of remote account opening;
  • fast international payments in different currencies (USD, EUR, GBP, etc.);
  • ability to issue payment cards;
  • remote account management via the Internet;
  • ability to transfer / withdraw funds from / to Bank accounts or accounts in other payment systems;
  • European payment systems assign account numbers in IBAN format and provide access to the benefits of a single Euro payment space (SEPA).

Limitations of payment services

Payment systems are not intended for storing or investing money (and therefore can not be a full replacement of Bank accounts);
As with opening a Bank account, opening a company account in the payment system will require disclosure of the ownership structure of the company and identification of its beneficial owners.

Which bank is the best place to open an account?

You can find out which jurisdiction is preferable for you personally, how to open a corporate or personal account, specify the price and get answers to other questions you are interested in by mail You can also use the feedback form. Our consultation is free.

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  • well-established procedure for companies registration;
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