Wittix is an online bank that provides personal and business borderless, multi-currency European IBAN accounts. The bank also issues virtual cards and physical debit cards and supports both incoming and outgoing SEPA payments. Moreover, Wittix allows you to open a European non resident bank account online.
Benefits of Wittix Account
- Multicurrency, European non resident account. Wittix multi-currency account supports 75 currencies including EUR, JPY, GBP, ZAR, CAD, and HKD.
- Wittix supports payouts from PayPal and Stripe.
- IBAN account for personal and business accounts and SEPA payments
- Plastic cards and Wittix virtual cards
- No account opening fees and no monthly fees for EU/EEA residents
- Licensed and regulated in Lithuania
How to Open Wittix Bank Account
You can open a Wittix personal account without visiting the bank. Wittix sign up process is done via Wittix website. At the moment, there is no Wittix app. To open a personal with Wittix Bank, you need to provide the following documents.
- An online registration form
- High quality and colored passport
- Proof of address or a utility bill not older than 90 days
- Live verification process by taking a clear photo of your Passport / Residence Permit (EU/EEA) / ID Card (EU/EEA) with all the necessary information visible, and verifying your identity by taking a photo of your face
To open Wittix business account, you will need the the documents above and the following additional documents.
- Certificate of incorporation
- Memorandum and articles of association
- License URL / Document – If business activity required a license
- Any other relevant corporate documents depending on the country of registration
- Supporting documents on clients/suppliers (such as invoices, contracts, draft contracts)
- Documents for initial funding (if the first transfer is from an existing corporate bank account, a bank statement is needed, or if first transfer is from your client, an invoice or contract is needed)
How to add money to Wittix account: A SEPA transfer is a fast and easy way to fund your account. You’ll need your account details, which you can find by clicking on your Profile Tab -> Reference Letter. On this page you will be able to find all of the necessary banking details for sending and receiving SEPA Transfers.
Dedicated IBAN Account
Wittix, UAB offers a personal IBAN account and business IBAN account. You can open an account to help you receive, transfer and withdraw funds easily. You can use it to execute incoming and outgoing SEPA transfers at fair rates. SEPA transfers are fast with most going through within a day.
Wittix Currencies
Wittix Personal Account
Wittix UAB personal account helps one to manage their daily finances with an IBAN account. You can use the account to receive and make SEPA payments. You can make and receive SEPA payments from any EU bank that supports SEPA transfers.
Wittix Fees for Personal Account
Wittix personal account comes with varying pricing for EEA customers and non-EEA customers. The pricing is as follows:
| Personal Pricing | EU/EEA | Non EU/EEA |
|---|---|---|
| Application processing | Free | Free |
| Account Monthly | Free | € 9.90 |
| SEPA Incoming Transfer | € 2 | € 5 |
| SEPA Outgoing Transfer | € 3 | € 10 |
| Swift Incoming Transfer | N/A | N/A |
| Swift Outgoing Transfer | € 25 + 0.15% | € 45 + 0.25% |
| Internal Transfer | Free | € 5 |
Wittix Business Account
You can open a Wittix Business account to manage your business finances. The account comes with a dedicated IBAN, physical payment card and is available for both EEA residents and non-EEA residents. You can order a MasterCard payment card with a business account.
Wittix Fees for Business Account
The Business account also comes with varying prices for EEA residents and non-EEA residents.
| Business Pricing | EU/EEA | Non EU/EEA |
|---|---|---|
| Application processing Fee | € 250 | € 850 |
| Account Monthly Fee / Per Currency | € 50 | € 99 |
| SEPA Incoming Transfer | € 5 + 0.15% € | 10 + 0.25% |
| SEPA Outgoing Transfer | € 5 + 0.15% | € 15 + 0.35% |
| Swift Incoming Transfer | € 25 + 0.15% | € 35 + 0.25% |
| Swift Outgoing Transfer | € 35 + 0.15% | € 45 + 0.35% |
| Internal Transfer | Free | € 5 |
Wittix Payment Cards
When you open a Wittix personal account, you can order a physical personal card. Besides, you can also get Wittix virtual card that will help you with online shopping. Wittix issues a MasterCard prepaid card that you can use to access your finances across the globe. You can use the card for:
- Making online payments
- Get push notifications for all your transactions
- Get a virtual card that will help you with online shopping
Wittix Business Card
Wittix issues a debit card for business accounts. A debit card usually has the same balance as the account, unlike prepaid cards that have separate balances from the account or e-wallet. You can get a physical or Wittix virtual card with a Wittix business account. The business card uses a single currency; EUR only.
Wittix Card Pricing
| Cards Pricing | Virtual Card | Plastic Card |
|---|---|---|
| Card Ordering Fee | € 4.5 | € 9 |
| Monthly Card Fee | € 4.9 | € 4.9 |
| Card Loading Fee | 1% | 1% |
| Virtual to Plastic | € 8 | N/A |
| POS Purchases (Domestic) | € 0.75 | € 0.75 |
| POS Purchases (International) | € 1.5 | € 1.5 |
| FX Fee | MC Base fee + 2.5% | MC Base fee + 2.5% |
| Withdrawal to Wittix Balance | 1% | 1% |
Wittix IBAN
Wittix provides IBAN accounts by default that supports SEPA transfers. IBAN is a safe way of identifying banks across borders. Wittix issues IBAN accounts allowing users to make and receive SEPA transfers. It supports 35 currencies. You can also open a multi-currency IBAN personal account to allowing you to transact in different currencies.
Witix Supported Countries
Wittix supports the majority of countries around the world. You can also read the list of non-supported countries. The following are countries that are not supported: Afghanistan, Burundi, Cambodia, Central African Republic, Democratic Republic of the Congo, Cuba, Egypt, Guinea, Guinea-Bissau, Iran, Iraq, Kazakhstan, North Korea, Kyrgzstan, Laos, Lebanon, Libya. Mauritania, Moldova, Myanmar, Nicaragua, Palestinian Territory, Somalia, South Sudan, Sudan, Syria, Tunisia, Venezuela, Yemen and Zimbabwe.
Is Wittix Safe? Is Wittix Legit?
Yes. Wittix Bank is authorized and regulated by the Central Bank of Lithuania to issue, distribute and redeem electronic money. It operates under Electronic Money Institutions (EMI) license No 48. All online payments are 3D secured to ensure that your data and money are safe. It carries out all financial transactions in line with the laws of Lithuania.
Wittix Alternative
There are virtual financial institutions that offer similar services. Some of Wittix alternatives are the following.
Wittix Alternatives for Non Resident Accounts
Other virtual banks that you can open European bank account for non residents include the following.
Final Thoughts on Wittix Review
Wittix is an excellent bank offering electronic money services and non resident bank account. You get IBAN accounts like personal and business accounts that allow you to make SEPA transfers. It supports 75 currencies. To start using its services, you only need to register your account which takes a few minutes, and then deposit funds into your account. You can then start sending and receiving money across the world.