Bankera is blockchain-based banking that offers multi-currency accounts, merchant accounts, IBAN, SEPA and SWIFT payments for businesses and freelancers. It also offers bank accounts for cryptocurrency businesses.
Benefits of Bankera bank
- Multi-currency account for business account (personal accounts are only in Euro) and a Bankera IBAN, which is a European IBAN account in your name.
- Accept credit and debit card payments at your e-commerce business
- Physical and virtual cards that you can link to your account
- Access your account using web browsers and Bankera app
- You can send and receive money using IBAN and SEPA instant payment
- Business account for cryptocurrency businesses
Crypto banking in Europe
Bankera is crypto friendly, meaning you can send and receive fiat money from/to crypto platforms. If you want your bank account to connect directly to an exchange and manage deposits in fiat as well as cryptocurrency in one single account, our suggestion is that you read our article on Bitcoin Banks. Bankera also offers a product that connects to a crypto exchange and wallet. Bankera is in the same ecosystem with SpectroCoin, which is a crypto exchange offering personal IBAN globally.
Blockchain-based banking vs Crypto banking: While these terms are often mixed up, they represent different stages of virtual currencies and blockchain economy value chain. While banking for the blockchain era provides the traditional financial services such as payment accounts, cards, and financing to businesses in the blockchain field, crypto banking focuses on providing banking-like services with cryptocurrencies, such as crypto loans, crypto wallets, or even savings.
Bankera Features
Bankera has some excellent features offered to its customers to enjoy banking services. These features include:
Bankera Card
Bankera offers Visa debit cards that are compatible with ATMs all over the world. You can load funds to your card from your account automatically. It also offers VISA business debit cards. Bankera virtual cards are also available to customers. Businesses can apply for corporate cards linked to your company’s IBAN account for employees, business partners or clients.
Bankera Business Loans
Bankera offers business loans starting from €2.000 for companies to do the following:
- Scale up of business operations
- Get cash from buyers and/or pay suppliers faster through invoice financing
- Expand business operations by adding an online sales channel
Crypto Friendly Business Accounts
Bankera facilitates financial operations for companies dealing in cryptocurrency. Its bank account for cryptocurrency businesses is ideal for crypto brokers, cryptocurrency exchanges, bitcoin mining farms, etc.
Instant and Multicurrency Payments
Bankera’s corporate users have access to two major payment networks – SEPA for Euro transfers within the European Economic Area (EEA), and SWIFT for global payments in various currencies. The bank also supports SEPA Instant credit transfers that allow transferring money between European financial institutions in a matter of seconds.
Bankera Payment Processing
Bankera comes with tools that allow business registered in the EEA to accept all currencies and settle payments in a currency of their choice via credit and debit card on their websites or physical stores.
Bankera Customer Support
The quality of service to users cannot be underestimated. One of the factors affecting the quality of service by corporate is the availability of customer support. Bankera has excellent customer support that is available 24/7. It means that if you have an issue, you have it sorted at any time.
Bankera Fees
Bankera has different fees for their various products. The following is their fee structure.
Bankera Pricing for Personal Account
| Personal Account (offered to EEA residents) |
|---|
| Bankera Initial Fee 0.00 EUR |
| Bankera Inactivity fee (after 12 months of inactivity) 5 EUR |
| Bankera Monthly Fee 0.00 EUR |
| Bankera Closing Fee 0.00 EUR |
| Bankera SEPA Outgoing 0.00 EUR |
| Bankera SEPA Incoming 0.00 EUR |
| Personal+ Account (offered to EEA residents) |
|---|
| Bankera Initial Fee 0.00 EUR |
| Bankera Monthly Fee 0.00 EUR |
| Bankera Inactivity fee (after 12 months of inactivity) 10 EUR |
| Bankera Closing Fee 20.00 EUR |
| Bankera SEPA Outgoing 1.00 EUR |
| Bankera SEPA Incoming 0.00 EUR |
Bankera Pricing for Business Account
| Business (offered to low and medium risk) |
|---|
| Initial Fee 0.00 EUR |
| Monthly Fee 5.00 EUR |
| Closing Fee 0.00 EUR |
| SEPA Outgoing 0.10 EUR |
| SEPA Incoming 0.00 EUR |
| SWIFT Outgoing 7.00 EUR |
| SWIFT Incoming 18.00 EUR |
| Business+ (offered to high risk) |
|---|
| Initial Fee 450.00 EUR |
| Monthly Fee 50.00 EUR |
| Closing Fee 200.00 EUR |
| SEPA Outgoing 2.00 EUR |
| SEPA Incoming 0.00 EUR |
| SWIFT Outgoing 7.00 EUR |
| SWIFT Incoming 18.00 EUR |
| Crypto Exchanges (offered to virtual currency businesses) |
|---|
| Initial Fee 450.00 EUR |
| Monthly Fee 1000.00 EUR |
| Closing Fee 200.00 EUR |
| SEPA Outgoing 2.00 EUR |
| SEPA Incoming 0.00 EUR |
| SWIFT Outgoing 7.00 EUR |
| SWIFT Incoming 18.00 EUR |
Bankera Card Fees (Bankera Virtual Card/Bankera Physical Card)
| Physical | Virtual | |
|---|---|---|
| Ordering | free | free |
| Monthly Maintenance | free | free |
| Delivery | free by mail 3.00 EUR by registered mail 50.00 by courier | n/a |
| Card Replacement | 10.00 EUR | n/a |
| Payment in shops (EUR) (in the EEA and UK) | free | free |
| Payment in shops (EUR) (not in EUR/ outside EEA) | 1.00% | 1.00 % |
| Daily Limit | 5,000 EUR | 5,000 EUR |
| First 3 ATM withdrawals per month (EUR) (UK and EEA except Lithuania) | free | n/a |
| Over 3 ATM withdrawals (EUR) (UK and EEA except Lithuania) | 1.00 EUR | n/a |
| ATM withdrawals (not in EUR) (in the EEA and UK) | 1.00%, min 1.00 EUR | n/a |
| ATM withdrawals (outside EEA) | 2.00%, min 2.00 EUR | n/a |
| ATM withdrawals (in Lithuania) | 1.00% | n/a |
| ATM Balance Enquiry | 0.50 EUR | n/a |
| ATM Daily Limit | 2,500 EUR | n/a |
Bankera Bank Limits
| Amount | Transaction type |
|---|---|
| 10,000 EUR | Per transaction |
| 25,000 EUR | Per day |
| 50,000 EUR | Per month |
There are not limits for incoming transactions. After creating your account, you might find additional limits set based on your verification level.
Bankera Supported Countries
Bankera account is available in the majority of countries around the world. It does not offer services to clients from Iran, North Korea, and any unrecognized jurisdictions.
Bankera bank USA: Bankera services are not offered in the United States.
Is Bankera a Scam? Is Bankera Safe?
Bankera bank is legit. It is managed by Era Finance Ltd, a registered agent of Pervesk UAB – an electronic money institution authorised by the Central Bank of Lithuania for the issuing of electronic money and payment instruments. Your money is safe with Bankera because accounts are protected by industry standard cybersecurity measures. Account holders’ funds held in a segregated account from the funds of Bankera itself.
Bankera Reviews
Bankera Trustpilot reviews have received 4.0 out of 5 star as of August 2021. A few users (21%) complained about rejected transactions, long process for opening a business account, deleted account without notice, and poor customer service.
Bankera Alternatives
In case you are looking for banks that offer crypto and fiat currency services, try the following: