A euro account is a current account you can use to hold, spend, send, and receive funds. With many virtual banks, it is easy to open a euro bank account. Most of virtual banks operate through an app. As such, to open a Euro account, you just need to download their app, sign up, verify your identity and then fund the account.
Some euro bank accounts come with a debit card which you can use for ATM withdrawals and making card payments.
Who Needs an Online Euro Bank Account?
If you are in any of the following circumstances, you need to consider opening an online euro bank account:
- If you want to hold euros in your account
- If you get paid in euros and are within the EEA area
- If you need to send or receive money in euros
- If you are a European expat and want to send money back home
Best Online Euro Bank Account
The following are some of the best banks offering virtual bank accounts:
Wise Euro Account
Wise is a virtual bank that is also offering a free euro bank account with a debit card. You can use a Wise Euro account to send money to over 70 countries, hold and spend money in over 50 currencies. A wise euro account does not have hidden fees.
You can convert your euro bank balance and make transfers using a mid-market rate with no hidden fees. When you open Wise account, you get:
- European, British, and Turkish IBAN
- US account number and Bank code (SWIFT/BIC)
Wise Fees
• Sending money (varies by currency) – From 0.43%
• ATM fees for over 200 GBP per month – 1.75%
• Account funding transactions – 2%
• Currency Conversion – From 0.43%
Starling Bank Euro Account
Starling Bank offers one of the best free euro bank accounts. You can use Starling’s online euro bank account to hold, send and receive euros for free. Besides, you can convert your euros into pounds or vice versa. Starling Bank Euro account does not have hidden fees or extra charges.
Starling Bank virtual euro account comes with a unique IBAN. Also, your bank balance is covered to a maximum of £85,000 or equivalent by the Financial Services Compensation Scheme. Starling Bank’s euro account supports SEPA payments and Target2 payments only.
Starling Bank Fees
- Exchange rate: 0.4%
- Annual Equivalent Rate – 0%
N26 Euro Bank Account
N26 is another online euro bank account with a debit card. You can use it to send, receive and manage money in a convenient place. You can sign up for an account online. N26 does not have hidden fees nor do you need any paperwork.
N26 supports euro bank accounts in the following countries: Sweden, Norway, Denmark, Poland, Iceland, and Liechtenstein. When you open N26 euro account, you get:
- Deposit insurance of up to €100,000
- Withdraw up to 5 times a month for free in the Eurozone
N26 Fees
- N26 Smart – €4.90/month
- N26 You – €9.90/month
- N26 Metal – €16.90/month
Airwallex Euro Bank Account
Airwallex also offers a free online euro bank account. You can use the account to hold, send and receive money in euros. You can open new payment streams within Europe with a Euro global account. It also allows users to hold multiple currencies in their accounts.
Airwallex Fees
- Free sign up
- Zero monthly account fees
- Free virtual card and physical cad
- Free international transfers
Revolut Euro Bank Account
Revolut is an online bank that can allow you to open a euro virtual bank account with a debit card. You can also use the account to hold, send and receive money. Revolut does not charge for money transfers with the SEPA region.
When you open an account with Revolut, you get:
- Global IBAN
- Physical and virtual cards
- Local accounts in global currencies
Revolut Fees
- ATM withdrawal fees – 2% fee after 5 withdrawals per month
- Revolut Standard – No fee
- Revolut Plus – £2.99/month
- Revolut Premium – £6.99/month
- Revolut Metal – £12.99/month
Rewire Euro Bank Account
Rewire account is another free online euro bank account. When you open an account with Rewire account, you will get a European account with IBAN. You can use the euro account to send and receive money worldwide.
To get started, you just need to download the Rewire app from Google Play or App Store. There is also a desktop version. Then sign up for an account and verify your identity. After that, your euro account will be ready as soon as the verification is completed.
Virtual Euro Bank Account
The above are some of the best online euro bank accounts you can open. Euro bank account helps you hold, spend, send, and receive money in euros. Virtual euro bank accounts are a great option if you want to hold euros in your account or if you get paid in euros within the EEA.