8 Best Banks for International Business 2023

The best banks for international business should allow you to send payments overseas to numerous countries in multiple currencies for a reasonable fee. They should support your business when conducting business or traveling abroad. Some of them will also allow you to send currencies in as little as one business day while others will open foreign accounts in local currencies to save you time and money when conducting international business.

Here are the eight best bank accounts for self-employed professionals, with links directly to the provider websites:

• Bank of America: Best overall for overseas payments and international currency orders
• Bluevine*: Best business checking account for earning interest on deposits with no monthly fees
• Chase: Best for small business banking tools and premium checking
• Novo*: Best digital-only bank for international ATM fee reimbursement and rapid access to funds
• Relay*: Best for businesses needing multiple accounts and debit cards
• Wise*^†: Best low-cost international transfers via local accounts
• Revolut*^†: Best for spending funds in multiple currencies
• Rho*: Best for companies with $1 million in revenue or raised venture capital

*Providers are financial technology (fintech) platforms backed by and Federal Deposit Insurance Corp. (FDIC)-insured through a supporting bank partnership (Partnerships: Coastal Community Bank for Bluevine, Middlesex Federal Savings for Novo, Evolve Bank & Trust for Relay, JP Morgan Chase for Wise, Metropolitan Commercial Bank and Sutton Bank for Revolut, and Webster Bank for Rho). All other banks listed are member-FDIC insured.

^†Funds held outside of the United States may not necessarily be insured against loss. See the provider’s website for more information.

Best Banks for International Business at a Glance

	Account Name	Monthly Fee	Free Monthly Transactions	Number of Countries to Send Money	Number of Currencies
	Fundamentals Business Checking	$16; waivable	200	233	150
	Visit Bank of America
	Business Checking	None	No limit	32	14
	Visit Bluevine
	Business Complete Banking	$15; waivable	20	More than 160	More than 120
	Visit Chase
	Business Checking	None	No limit	More than 150	50
	Visit Novo
	Relay Standard	None	No limit	More than 180	32
	Visit Relay
	Business Checking	None; $31 fee to open account	No limit	80	Add money: 20 Hold and convert: 51
	Visit Wise
	Free Business Checking	None	No limit	Unspecified	More than 25
	Visit Revolut
	Commercial Banking	None	No limit	More than 140	36
	Visit Rho

Bank of America: Best Overall for Overseas Payments & International Currency Orders

What We Like

• Payments to 233 countries in 150 currencies available
• Foreign currencies ordered by 2 p.m. local can ship the same day
• 200 free transactions per month

Drawbacks

• Cash deposit fees charged per $100 over monthly allowance
• Doesn’t offer ATM fee reimbursements
• Requires a $100 opening deposit

Read our Bank of America Business Checking review

Features

• Deposit checks, view accounts, make transfers, and pay bills with the mobile app
• Credit card processing and payroll services through ADP
• Cash Flow Monitor®, a cash management tool, lets you connect accounting, analytics, and payroll apps to help you make business decisions
• Check your business credit score through a partnership with Dun & Bradstreet
• Integrations with QuickBooks, TurboTax, and Zelle
• Customer service during business hours in branch and via phone or social media messages
• Other products include business savings, merchant services, certificates of deposit (CDs), lending products, and financial analysis through Merrill financial advisor

Read our Bank of America Business Checking review

Visit Bank of America

Bank of America Fundamentals Business Checking Terms

Required Opening Deposit	$100
Required Balance Minimum	None
Transaction Limit Before Fees	200, then 45 cents per item
Monthly Fees	$16 (waivable if conditions are met)
Domestic Wire Transfer Fees	Fees vary
International Wire Transfer Fees	Fees vary
ATM Fees	Free access to approximately 15,000 ATMs nationwide; $2.50 per transaction on out-of-network ATMs
Cash Deposited	Up to $7,500 per month free, then 30 cents per $100 per statement cycle
APY	N/A

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International Payment Information

Bank of America allows you to send payments to 233 countries in 150 currencies. For complete details on sending funds, see Bank of America’s International Wire Information, and search for the country where you plan to send money.

In addition, you can order foreign currency directly from the bank. If the order is placed by 2 p.m. local time, it will ship the same day. Fees and details are as follows:

• Standard delivery (one to three business days): $7.50 (standard delivery is free for orders $1,000 and up)
• Overnight delivery (order by 2 p.m.): $20
• Because it does not stock inventories of foreign currency at financial centers, delivery charges apply to orders picked up at a financial center as well as to orders―under $1,000 US dollars (USD)―sent to your account address.

Your order must be picked up at a financial center if:

• It is $1,000 or more in USD
• You are a new customer (less than 30 days)
• Your address changed in the last 30 days

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When To Choose Bank of America

With the ability to send payments to more than 230 countries in 150 currencies, Bank of America is our choice for the best bank for international business. In addition, if you order foreign currency from the bank prior to 2 p.m. local time, it will ship the same day. Overnight deliveries cost $20 while standard delivery is $7.50 and will have currency delivered in one to three business days.

Not only are you getting a great bank for sending payments and currency overseas, but you are also getting a business bank account with outstanding ongoing rewards.

With its Preferred Rewards for business, you can earn 25% to 75% bonus rewards on credit cards and get a 5% to 20% higher interest rate on business advantage savings accounts. Bank of America also offers signup bonuses ranging from $100 to $500 if qualifications are met. For specific qualifications, see our guide to the best business bank account promos.

Bank of America offers two business checking options. The entry-tier, Fundamentals Business Checking, tops our list of the leading small business checking accounts. You get up to 200 free transactions and $7,500 in free cash deposits monthly. There is a $16 monthly fee, but it is waivable if certain criteria are met.

For businesses that might need to access funds through an ATM during overseas travel, Bank of America’s partner banks will allow you to avoid the $5 out-of-network international ATM fees.

Bluevine: Best Business Checking Account for Earning Interest on Deposits With No Monthly Fees

What We Like

• Interest-earning checking on balances of $250,000 or less
• Ability to send payments to 32 countries in 14 currencies
• Excellent line of credit product

Drawbacks

• No savings, money market, and CD accounts
• No physical branch locations
• Fee for depositing cash

Read our Bluevine Business Checking review

Features

• No monthly maintenance fee
• No minimum balance requirement
• Free debit card and two free checkbook orders per year
• Integrates with QuickBooks and Xero
• Connects with business payment solutions, including Stripe, PayPal, and Expensify
• Has live customer support from dedicated professionals
• Offers line of credit

Read our Bluevine Business Checking review

Visit Bluevine

Bluevine Business Checking Terms

Required Opening Deposit	None
Required Balance Minimum	None
Transaction Limit Before Fees	No limit
ACH Fees	None
Monthly Fees	None
Teller Cash Withdrawal Fee	None
Domestic Wire Transfer Fees	$15 for outgoing, incoming are free
International Wire Transfer Fees	$15 for outgoing, incoming are free
ATM Fees	Free at MoneyPass locations nationally; $2.50 plus operator fees for non-network ATM use
Cash Deposited	$4.95 fee per transaction, available through Green Dot retail locations
APY	2% on balances of up to $250,000, once qualifications are met
*Bluevine is a business fintech platform backed by FDIC-insured Coastal Community Bank.

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International Payment Information

Country	Currency
United Kingdom	GBP - British pound; USD
China	CNY - Chinese yuan; USD
Mexico	MXN - Mexican peso; USD
Canada	CAD - Canadian dollar; USD
India	INR - Indian rupee; USD
Israel	ILS - Israel new shekel; USD
Japan	JPY - yen; USD
Switzerland	CHF - Swiss franc; USD
Philippines	PHP - Philippine peso; USD
Australia	AUD - Australian dollar; USD
Denmark	DKK - Danish krone; USD
Thailand	THB - Thai baht; USD
Sweden	SEK - Swedish krona; USD
Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, and Spain	EUR - euro; USD

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When To Choose Bluevine Business Checking

With interest-bearing checking and the new product allowing customers to send international payments, Bluevine is also a great choice for international business customers. It recently added the ability to send international payments for your business. You can send payments directly to 32 countries in 14 currencies from your Bluevine dashboard.

Payments are sent out between 8 a.m. and 5 p.m. Eastern time and can be received in as fast as 24 hours. Payments sent in cost $25 per payment while payments sent in other currencies cost $25 plus 1.5% of the payment amount. See Bluevine’s full list of countries available for international payments or the list in the rubric box above. Since rolling this service out, Bluevine has added countries and currencies, so check with Bluevine for the latest country and currency information.

In addition, you can earn 2.0% APY on balances up to $250,000 if you meet one of two criteria. You must spend $500 or more a month with Bluevine Business Debit Mastercard or receive $2,500 per month in customer payments into your account.

Bluevine has no monthly fees, opening deposit, or minimum balance requirements. ATM withdrawals are free at any one of more than 40,000 MoneyPass ATMs nationwide. Bluevine charges $2.50 for out-of-network transactions plus third-party operator fees.

One drawback to Bluevine’s service for international customers is that MoneyPass doesn’t offer overseas ATMs. As such, you will be unable to withdraw funds from an ATM internationally without paying a fee.

Chase: Best for Small Business Banking Tools & Premium Checking

What We Like

• Send payments to over 160 countries in more than 120 currencies
• No fee on consumer online foreign currency international wire of greater than $5,000 USD
• $300 bonus when you open an account

Drawbacks

• Limited number of free transactions
• ATM fees not reimbursed
• Some wires have much higher fees, and exchange rate may not be favorable on free wires

Read our Chase Business Complete Banking review

Features

• Manage debit, deposit, and ATM card settings for individual employees
• Deposit checks, view account balances, pay bills, and make transfers through the mobile app
• Integrates with QuickBooks and other leading accounting software
• Free debit card, mailed within 10 business days of application approval
• Physical checks’ costs, depending on type ordered
• Chase Merchant Services
• Live customer support online or in branch during business hours
• Other products include business savings, CDs, lending products, credit cards, merchant services, and collection services, and collection services

Read our Chase Business Complete Banking review

Visit Chase

Chase Business Complete Banking Terms

Required Opening Deposit	None
Required Balance Minimum	None
Transaction Limit Before Fees	20, then 40 cents per transaction
Automated Clearing House (ACH) Fees	$25 for first 25 items per month, 15 cents per item above 25 per month, $2.50 return fee
Monthly Fees	$15; waivable if conditions are met
Domestic Wire Transfer Fees	Up to $35 for outgoing wires, up to $15 for incoming wires
International Wire Transfer Fees	Up to $50 for outgoing wires, up to $15 for incoming wires
ATM Fees	$3 per transaction at any non-Chase ATM, plus ATM operator fees
Cash Deposited	$2.50 per $1,000 after you deposit $5,000 in a billing cycle
APY	N/A

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International Payment Information

Chase, through JP Morgan, allows you to send payments to more than 160 countries in over 120 currencies. For complete details on sending funds, see JP Morgan’s Global Payments Guide, and search for the country where you plan to send money:

• Online wires sent to a bank outside the US in foreign currency have no Chase wire fee for amounts of $5,000 USD or more. Only a $5 Chase wire fee when less than $5,000 USD.
• Wire funds on the go using the Chase Mobile® app or chase.com
• Send from your Chase checking account
• Access up to 13 months of outgoing wire transfer history
• Save details of frequent payees for future transfers
• Send transfer requests anytime
• Transfer requests that are initiated by 4 p.m. ET for Personal accounts and 5 p.m. ET for Business accounts begin processing the same business day

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When To Choose Chase

Chase is another great option for international business thanks to the ability to send money to over 160 countries in more than 120 currencies. In addition, online wires sent to a bank outside the US in a foreign currency have no Chase wire fee for amounts of $5,000 or more. If the amount of the wire is less than $5,000, a $5 Chase fee applies. Traditional wires are more expensive, so consider an online wire when sending money overseas.

The bank has three excellent business checking products, all with a waivable monthly fee if specific criteria are met: Business Complete Banking, Performance Business Checking, and Platinum Business Checking. You can read our comparison of Chase’s business checking accounts to see which best suits your needs.

The entry-level checking product, Business Complete Banking, gives you 20 free transactions and $5,000 in free cash deposits monthly. The highest-tier account, Platinum Business Checking, is the best premium business checking account on the market but it comes with a waivable $95 monthly fee.

Chase doesn’t have a list of international banks it partners with for businesses needing to withdraw funds overseas. As such, you may end up paying Chase’s $5 fee plus third-party costs for international ATM withdrawals.

Novo: Best Digital-only Bank for International ATM Fee Reimbursement & Rapid Access to Funds

What We Like

• Zero maintenance fees
• Refunds all ATM fees, both domestic and international
• Novo Boost and Express ACH allow faster access to your funds

Drawbacks

• Unable to deposit cash directly
• Lack of savings accounts and lending products
• Conflicting information about how many countries and currencies are available for international payments

Read our Novo Business Checking review

Features

• Integrates with other business tools, such as QuickBooks, Slack, Xero, Stripe, Square, PayPal, Wise, and Shopify
• Set aside funds for taxes and other large business expenses with Novo Reserves
• Deposit checks directly through the mobile app
• Online banking includes unlimited invoicing and bill pay
• Novo Boost in coordination with Stripe allows you to access funds faster
• Express ACH lets you accept or receive same-day ACH payments
• Virtual debit card available immediately, one free physical debit card per user
• Paper checks can be sent straight from the app
• Live customer support from dedicated professionals

Read our Novo Business Checking review

Visit Novo

Novo Business Checking Terms

Required Opening Deposit	None
Required Balance Minimum	None
Transaction Limit Before Fees	No limit
ACH Fees	None
Monthly Fees	None
Domestic Wire Transfer Fees	None to receive; cannot send wires domestically but can send fee-free ACH transfers
International Wire Transfer Fees	Novo partners with Wise to send international wires for a “low” fee
ATM Fees	All fees refunded at the end of the month
Cash Deposited	None; money orders can be purchased and deposited through the app
APY	N/A
*Novo is a business fintech platform backed by FDIC-insured Middlesex Federal Savings.

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International Payment Information

Novo partnered with Wise for international wire transfers. See our section on Wise for details.

In addition, Novo refunds all ATM fees each month, including international ATM fees.

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When To Choose Novo

While Novo’s biggest selling point is the ability to send and receive payments faster than most providers, a bonus of the digital-only neobank is ATM fee reimbursement. It refunds all ATM fees at the end of the month, including international ATM fees. For businesses needing to withdraw funds abroad, this allows you to do so without worrying about finding a partner ATM or potential ATM fees.

For businesses sending international wires, Novo has a partnership with Wise for low-fee transfers overseas. You can read more about Wise in its section, which comes later in this buyer’s guide.

Novo claims that you can send money to more than 150 countries in 50 currencies. However, Wise allows its customers to send payments to 80 countries, so this may be the same for Novo.

It offers two outstanding services to help you get paid and make payments faster. Novo Boost allows you to receive payments from your Stripe account faster than other providers while Novo’s Express ACH enables you to accept or send same-day ACH payments.

To further expedite the payment process, users can now connect Stripe, Square, and PayPal and get paid via card, Apple Pay, Google Pay, PayPal, and Venmo. Novo has great software integrations as well. It has accounting software integrations with QuickBooks and Xero and business payment integrations through Stripe, Square, PayPal, Wise, and Shopify, among others.

Relay: Best for Businesses That Need Multiple Accounts & Debit Cards

What We Like

• No minimum balance or opening deposit required
• Wire transfers are very inexpensive and are free with Relay Pro
• No ATM fees charged by Relay, although third-party fees may apply out of network

Drawbacks

• No physical locations
• No interest-bearing checking
• No lending products

Read our Relay Business Checking review

Features

• Fee-free online banking and money management platform
• Open up to 20 individual business checking accounts
• Issue up to 50 Visa debit cards
• Send and receive ACH transfers, checks, and wires
• Collect payments from PayPal, Stripe, Square, and more
• Relay Pro account available, which offers same-day ACH delivery, free wire transfers, and accounts payable support
• Customer service via email, mail, and web contact form, and the app
• Checks can be sent on users’ behalf for free; third-party checks unavailable
• Accounting software integrations with QuickBooks, Xero, and Plaid

Read our Relay Business Checking review

Visit Relay

Relay Standard Business Checking Terms

Required Opening Deposit	None
Required Balance Minimum	None
Transaction Limit Before Fees	None
Monthly Fees	None
Domestic Wire Transfer Fees	Free for incoming; $5 for outgoing
International Wire Transfer Fees	Free for incoming, $10 for outgoing
ATM Fees	None at Allpoint ATMs; Relay doesn’t charge out-of-network ATM fees, although third-party fees will apply
Cash Deposited	Accepted at Allpoint ATMs
APY	N/A
*Relay is a business fintech platform backed by FDIC-insured Evolve Bank & Trust and Thread Bank.

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International Payment Information

• Payment Info
• Currencies

Relay Standard, the provider’s free account, charges $10 for outgoing international wires. Incoming international wires are free. If you upgrade to Relay Pro, all international wires are free.

While the provider doesn’t have a specific list of countries that you can send a wire to, Relay has an updated list of more than 180 countries which you can receive international wires from. It also has a list of countries which it cannot send wires to and a list of countries which it cannot receive wires from.

International wires take two to three business days to arrive at the recipient’s bank. Relay refreshes exchange rates every 60 seconds to update the rate based on the foreign exchange market. Relay will apply a competitive exchange rate fee—as little as 1%—when using the new currency exchange feature.

The currencies available are in the table in the following tab.

Available Currencies
Mexican peso (MXN)	Swedish krona (SEK)
European euro (EUR)	Croatian kuna (HRK)
British pound sterling (GBP)	Kuwaiti dinar (KWD)
Canadian dollar (CAD)	Czech koruna (CZK)
Australian dollar (AUD)	Thai baht (THB)
New Zealand dollar (NZD)	Hong Kong dollar (HKD)
Saudi riyal (SAR)	Danish krone (DKK)
Singapore dollar (SGD)	Norwegian krone (NOK)
South African rand (ZAR)	Turkish lira (TRY)
Swiss franc (CHF)	Omani rial (OMR)
Japanese yen (JPY)	Ugandan shilling (UGX)
Chinese yuan (CNY)	Hungarian forint (HUF)
Israeli new shekel (ISL)	Poland złoty (PLN)
Bahraini dinar (BHD)	United Arab Emirates dirham (AED)
Bulgarian lev (BGN)	Qatari rial (QAR)
Kenyan shilling (KES)	Romanian leu (RON)

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When To Choose Relay

Relay offers you the ability to send funds in 32 currencies to more than 180 countries overseas. It also keeps an updated list of countries where you cannot send wires, which are linked in our rubric box above.

Thanks to no monthly account fees, up to 20 checking accounts, and 50 Mastercard debit cards, Relay is a great choice for companies looking to categorize their funds in multiple accounts and easily track company spending.

Its basic checking, Relay Standard, is free. It has no minimum balance or opening deposit requirements and has no overdraft or bounced check fees.

Outgoing wires are one of the few fees charged in basic checking. However, at $5 for domestic and $10 for international, those fees are still among the lowest wire fees on this list.

Relay Pro starts at $30 a month. It provides faster ACH transfers, free wires, auto-imported bills from QuickBooks Online or Xero, and other advanced payment dashboard features.

While Relay doesn’t reimburse ATM fees like Novo, it doesn’t charge for out-of-network ATM withdrawals. However, third-party fees may apply, and those can be pricey internationally.

Wise: Best Low-cost International Transfers Via Local Accounts

What We Like

• Hold and convert money in 51 different currencies
• Send money to up to 80 countries
• Interest-earning account available for US-based businesses

Drawbacks

• Costs $31 to open an account
• ATM fees after $100 or 2 transactions in a month
• Funds outside of US, the United Kingdom and European Economic Area (EEA) accounts may not be insured

Features

• Wise debit card allows you access to more than 50 currencies in more than 170 countries with no foreign transaction fees
• Integrations with Xero, QuickBooks, Sage, FreshBooks, Wave, Oracle NetSuite, and more
• Use Bespoke to set access and permissions to account
• Send money to up to 80 countries
• Hold and convert money in 51 different currencies
• Interest-earning account available with solid APY for US-based businesses

Visit Wise

Wise Business Checking Terms

Required Opening Deposit	None
Required Balance Minimum	None
Transaction Limit Before Fees	No limit
Monthly Fees	None
Domestic Wire Transfer Fees	$4.14 for incoming
International Wire Transfer Fees	Incoming in USD: $4.14 Outgoing: Fees vary depending on exchange rate
ATM Fees	First $100 or 2 transactions free per month; 2% fees plus $1.50 per additional withdrawal
Cash Deposited	Cash deposits not accepted
APY	N/A, Interest-earning savings available for U.S. businesses
Note that Wise is a business fintech platform backed by FDIC-insured JP Morgan Chase.

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International Payment Information

• Payment Info
• Currencies

According to Wise, you can add money to your account in 20 currencies: AUD, BGN, BRL¹, CAD, CHF, CZK, DKK, EUR, GBP, HUF, IDR², JPY, MYR³, NOK, NZD, PLN, RON, SEK, SGD, and USD.

You can keep more than 50 currencies in your account. You can convert money between any of these currencies in your account, always with the real exchange rate.

Also, you can receive money from other people in these currencies using account details:

• AUD from any bank account in Australia
• CAD from any bank account in Canada
• EUR from any bank account in the world that’s denominated in EUR
• GBP from any bank account in the UK or by SWIFT
• NZD from any bank account in New Zealand
• MYR from any bank account in Malaysia (only available if you’re a resident in Malaysia and only supported for personal accounts)
• PLN from any bank account in Poland (we’ve had to stop users from getting PLN account details for now while we make improvements; if you have them already, you can keep using them as normal)
• SGD from any bank account in Singapore
• USD from any bank account in the US, or by SWIFT from certain countries
• RON from any bank account in Romania (only available if you’re a resident in the EEA, Switzerland, the US, Canada, Australia, or Japan)
• HUF from any bank account in Hungary

To receive money from other people in these currencies, just open a balance in the currency you’re being paid in and give the account details to your friends, company, or customers.

¹You need to be a Brazilian tax resident to add money in BRL.
²IDR can be used to top up any balance except IDR.
³Only Malaysian residents can top up their MYR balance directly by MYR.

Available Currencies: Hold and Convert
GBP - British pound	CAD - Canadian dollar	USD - US dollar
AUD - Australian dollar	HUF - Hungarian forint	PHP - Philippine peso
AED - United Arab Emirates dirham	IDR - Indonesian rupiah	PLN - Polish zloty
ARS - Argentine peso	ILS - Israeli shekel	PKR - Pakistani rupee
BDT - Bangladeshi taka	INR - Indian rupee	RON - Romanian leu
BWP - Botswana pula	JPY - Japanese yen	SEK - Swedish krona
BGN - Bulgarian lev	KES - Kenyan shilling	SGD - Singapore dollar
CHF - Swiss franc	KRW - South Korean won	THB - Thai baht
CLP - Chilean peso	LKR - Sri Lankan rupee	TRY - Turkish lira
CNY - Chinese yuan	MAD - Moroccan dirham	TZS - Tanzanian shilling
CRC - Costa Rican colón	MXN - Mexican peso	UAH - Ukrainian hryvnia
CZK - Czech koruna	MYR - Malaysian ringgit	UGX - Ugandan shilling
DKK - Danish krone	NGN - Nigerian naira	UYU - Uruguayan peso
EGP - Egyptian pound	NOK - Norwegian krone	VND - Vietnamese dong
GEL - Georgian lari	NPR - Nepalese rupee	XOF - West African CFA franc
GHS - Ghanaian cedi	NZD - New Zealand dollar	ZAR South African Rand
HKD - Hong Kong dollar	EUR - euro	ZMW - Zambian kwacha

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When To Choose Wise

Not only is Wise an excellent choice for businesses wanting to send international payments, but it also supports other online-only banks, like Novo, with their overseas transactions. Wise allows you to access funds in more than 170 countries in more than 50 local currencies with no foreign transaction fees. You can send funds to 80 countries and hold money in 51 currencies.

If you check Wise’s calculator on its website, you’ll be able to estimate the cost of sending money in both different currencies (exchange) and the same currency. Wise offers some of the lowest-cost international transfers of any provider.

You can add money to your Wise account in up to 20 currencies, although some of those currencies are limited to foreign-organized businesses only. By setting up local account details in any one of 10 currencies, overseas customers can pay you as if your account was held in a bank local to them. You can also receive nonwire money for free in any one of these nine currencies (see abbreviation information in the rubric above): AUD, CAD, EUR, GBP, HUF, NZD, RON, SGD, and USD.

In addition, Wise has an interest-earning savings account for US-based businesses. While there are no monthly fees for Wise accounts, it costs $31 to open. While the first debit card is free, additional debit cards cost $5 each. In addition, ATM fees are 2% of the amount withdrawn over $100 in a month, plus $1.50 per withdrawal. The first two withdrawals of less than $100 in a month are free.

Revolut: Best for Spending Funds in Multiple Currencies

What We Like

• Hold and exchange 28 currencies
• Spend in up to 150 local currencies
• Multiple tiers to fit your business needs

Drawbacks

• Funds held outside of US-based account may be uninsured
• Some features only in paid plans
• Customer support only through online chat

Features

• Up to 3 physical and 200 virtual cards; first plastic card ships free; delivery fees for each additional card apply
• Four different company accounts and three freelancer accounts.
• Local accounts opened up in USD, EUR, and GBP
• Can create multiple accounts in over 25 currencies to hold, exchange, and transfer money
• Savings vault available in some paid plans with solid APY
• Perks for paid plans include metal cards, better exchange rates, and cash back bonuses

Visit Revolut

Revolut Free Business Checking Terms

Required Opening Deposit	None
Required Balance Minimum	None
Transaction Limit Before Fees	No limit
Transfer Fees	Local transfers: 20 cents each International transfers: $3 each Foreign exchange fees: 0.4% markup
Monthly Fees	None
Domestic Wire Transfer Fees	Outgoing: $10
International Wire Transfer Fees	Transfers between Revolut accounts are free; Current transfers to Ukraine are free and do not count against allowances Other outgoing wires: $3 each
ATM Fees	Up to 2% of the amount withdrawn, plus third-party ATM fees
Cash Deposited	Cash deposits not accepted
APY	N/A
Note that Revolut is a business fintech platform backed by FDIC-insured Metropolitan Commercial Bank (account) and Sutton Bank (savings vault).

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International Payment Information

• Payment Info
• Currencies

Revolut allows you to hold and exchange 28 currencies, and you can spend in up to 150 local currencies. The complete list of exchangeable currencies is in the table in the second tab.

The company notes the cost to convert currencies will depend on the currency you want to exchange and how much you want to exchange. A 0.4% fee is applied to any exchange above the available allowance according to your plan. Depending on the currencies you want to exchange, an additional fee may be charged.

You can quickly set up unique local accounts in your business’s name to make and receive local payments. You can send local payments via local:

• GBP account details (BACS and Faster Payments for GBP payments in the UK)
• EUR account details (SEPA for EUR payments in the EEA)
• USD account details (ACH for USD payments in the US)

All transfers between Revolut accounts are free and instant (both Business and Personal).

Regarding GBP transfers to a UK bank:

• If the counterparty bank supports Faster Payments, then it can take 2 hours at the most.
• The Clearing House Automated Payment System (CHAPS) can take up to one day.
• If the bank only supports the Bankers’ Automated Clearing System (BACS), it can take up to three days.

For EUR transfers to a bank account domiciled in the Single Euro Payments Area (SEPA):

• Up to two working days;
• If the recipient’s bank supports SEPA Instant Credit Transfer scheme, then the transfer should be almost instantaneous.

If you add USD from a bank domiciled in the US using your USD local details, the transfer can usually take up to three working days.

As for Indian rupee (INR), Indonesian rupiah (IDR), Malaysian ringgit (MYR), and Philippine peso (PHP), they may take up to 1 day to be processed.

For all other cases, you have to use your SWIFT account details for the respective currency account, and the transfer might take up to five working days.

Available Exchange Currencies
UAE dirham (AED)	Mexican peso (MXN)
Australian dollar (AUD)	Norwegian krone (NOK)
Bulgarian lev (BGN)	New Zealand dollar (NZD)
Canadian dollar (CAD)	Polish zloty (PLN)
Swiss franc (CHF)	Qatari rial (QAR)
Czech koruna (CZK)	Romanian leu (RON)
Danish krone (DKK)	Serbian dinar (RSD)
Euro (EUR)	Saudi riyal (SAR)
British pound sterling (GBP)	Swedish krona (SEK)
Hong Kong dollar (HKD)	Singapore dollar (SGD)
Hungarian forint (HUF)	Thailand baht (THB)
Israeli new shekel (ILS)	Turkish lira (TRY)
Icelandic krona (ISK)	US dollar (USD)
Japanese yen (JPY)	South African rand (ZAR)

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When To Choose Revolut

Revolut is an interesting product but a very solid choice for businesses that need to send payments internationally in multiple currencies. When you open an account, you receive three local accounts: one in USD, another in GBP, and the other in EUR. Those allow you to send payments locally in those currencies.

In addition, you can exchange up to 28 currencies with Revolut. You can also spend more than 150 currencies locally out of your accounts.

There are seven different accounts with Revolut, including four business accounts and three freelancer accounts.

The free business account has no opening deposit or minimum balance requirements. However, some of the best exchange rates and perks are only available in the three paid business accounts, which range in cost from $39.99 a month for Grow, $149.99 a month for Scale, to a custom cost for Enterprise. Meanwhile, The freelance accounts include a free product, a Professional product for $9.99 a month, and an Ultimate product for $39.99 monthly.

Rho: Best for Companies With $1 Million in Revenue or Raised Venture Capital

What We Like

• Unlimited transactions
• Fee-free wire transfers, ACH, and bill pay
• Up to 1.75% cash back on corporate cards

Drawbacks

• Only available to businesses with $1 million in revenue or raised venture capital
• Low 0.01% APY
• No direct cash deposits

Read our Rho Business Checking review

Features

• Customizable account permissions
• Integrations with NetSuite, QuickBooks, Sage, and Wave
• Streamlined accounts payable (A/P)
• Cost-saving global payments
• Discounts on business software, such as Google Cloud, QuickBooks, Slack, Salesforce, and Stripe

Read our Rho Business Checking review

Visit Rho

Rho Commercial Banking Terms

Required Opening Deposit	None
Required Balance Minimum	Domestic companies: $50,000 or $5,000 per month spend on corporate cards International companies: $100,000
Transaction Limit Before Fees	No limit
Automated Clearing House (ACH) Fees	None
Monthly Fees	None
Domestic Wire Transfer Fees	Free
International Wire Transfer Fees	Free; 1% FX payments for global currencies
ATM Fees	Unavailable
Cash Deposited	Cash deposits not accepted
APY	0.01%
Note that Rho is a business fintech platform backed by FDIC-insured Webster Bank.

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International Payment Information

• Payment Info
• Countries

Payments can be sent to 67 countries on a regular time schedule with Rho, which lists additional countries to which payments can be sent but are subject to additional compliance screening. You can visit Rho to view the list of countries available.

Countries Where Wires Can Be Sent on a Regular Time Schedule
Albanian lek - ALL	Euro - EUR	Latvian lat - LVL	Serbian dinar - RSD
Australian dollar - AUD	Fiji dollars - FJD	Lithuanian lita - LTL	Singapore dollar - SGD
Bahraini dinar - BHD	French Polynesian Tahitian franc - XPF	Macau pataca - MOP	South African rand - ZAR
Bangladesh taka - BDT	Ghanaian cedi - GHS	Malaysian ringgit - MYR	South Korean won - KRW
Bolivian pesos - BOB	Great Britain poun -: GBP	Mexican peso - MXN	Sri Lankan rupee - LKR
Bosnian mark - BAM	Guatemalan quetzal - GTQ	Moroccan dirham - MAD	Swedish krona - SEK
Botswana pula - BWP	Honduran lempira - HNL	Nepalese rupee - NPR	Swiss francs - CHF
Bulgarian lev - BGN	Hong Kong dollar - HKD	New Zealand dollar - NZD	Taiwan dollar - TWD
Cambodia riel - KHR	Hungarian forint - HUF	Norwegian krone - NOK	Tanzanian shilling - TZS
Canadian dollar - CAD	Indian rupee - INR	Omani rial - OMR	Thailand baht - THB
CFA franc - XAF	Indonesian rupiah - IDR	Peruvian nuevo sol - PEN	Tonga panga - TOP
Chinese Yuan Renminbi: CNY	Israeli Shekel: ILS	Philippine Pesos: PHP	Turkish Lira: TRY
Costa Rican colon - CRC	Jamaican dollar - JMD	Polish zloty - PLN	United Arab Emirates dirham - AED
Croatia Kuna - HRK	Japanese yen - JPY	Qatar rial - QAR	US dollar - USD
Czech koruna - CZK	Jordanian dinar - JOD	Romanian leu - RON	Uruguayan peso - UYU
Denmark krone - DKK	Kenyan shillings - KES	Romanian leu - RON	Vietnamese dong - VND
Dominican peso - DOP	Kuwaiti dinars - KWD	Senegal CFA francs - XOF

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When To Choose Rho

For large companies that either have revenue or raised venture capital in excess of $1 million, Rho is a great option for international business. In addition, domestic companies must either keep a balance of $50,000 or have a $5,000 per month spend on corporate cards. Meanwhile, international companies must keep a balance of $100,000.

Rho allows you to send funds to more than 140 countries, including 67 countries that can be sent on a regular time schedule. There are additional countries that can also receive funds with Rho, but they require additional screening, which will add to transfer time.

For companies that can meet Rho’s requirements, you get the benefit of free domestic wires and ACH payments. You can send unlimited SWIFT wires to more than 140 countries with an exchange rate of just 1%, the best rate in this buyer’s guide.

While Rho doesn’t charge for international wires, there may be fees involved with using the SWIFT network in addition to intermediary and receiving bank fees. But those fees will be consistent with any international provider you use.

Rho offers business banking, treasury, corporate cards, accounts payable automation, and more. Its business checking account charges no fees for monthly maintenance, ACH, wires, and checks. Additionally, it offers strong perks for international spending.

One major drawback of Rho, besides the high financial qualification threshold, is the lack of an ATM card. Businesses needing to withdraw cash internationally will need to choose another provider.

How We Evaluated the Best International Business Bank Accounts

We considered hundreds of domestic and international bank and neobank products when compiling this buyer’s guide. When we evaluated the best international business bank accounts, we considered:

• Number of countries and currencies funds could be sent in a wire or transfer
• Fees for international wires and transfers
• Fees for currency exchange and purchase
• International in-network ATM availability and fees
• International acceptance for a domestic bank account
• Multicurrency options
• Which accounts had no monthly fees or easily waivable monthly fees
• Required opening deposit and balance minimums
• Transaction limits before fees
• Cash deposit fees and availability
• Interest yield, if applicable
• Other checking account perks
• Software integrations
• Other business services provided
• Lending products provided
• Customer service
• Customer reviews

What To Know About Doing Business Internationally

In addition to finding the right bank account for international business, there are some other things you may want to consider if you plan on having customers overseas. Here are some guides compiled by other experts here at Fit Small Business that can help your company thrive in business abroad:

• Payroll: Check out our article on how to pay international employees for a complete guide on how to set up your overseas payroll. And check out our buyer’s guide of the best international payroll services to choose the right provider.
• Contractors: If you plan to have contractors working for you abroad, see our guide on how to pay international contractors to avoid any potential issues.
• Merchant services: When doing business overseas, it’s important to have a provider that can help you sell your products and services to an international audience. See our list of the leading international merchant accounts.
• Hiring: It’s essential to hire the right people when conducting business overseas. See our guides on how to hire international employees and how to hire international contractors for assistance.
• Shipping: Once you’ve sold your product overseas, you must ship it to the customer. That can present its own challenges. See our article on international fulfillment and cross-border shipping for assistance.
• Credit cards: Besides a great bank account for international business, it helps to have a credit card with no foreign transaction fees. See our top-recommended no foreign transaction fee credit cards.

What You Need To Open a Business Bank Account

Although each provider on this list may require different documents to open a business bank account, here is a general list of what you will need:

• Employer identification number (EIN( or Social Security number if you’re a sole proprietor
• Fictitious business name certificate or doing-business-as (DBA) certificate
• Business formation documents
• Organization documents, including your ownership agreements
• Business licenses
• Government-issued photo ID, such as a passport or driver’s license

Frequently Asked Questions (FAQs)

Why do I need a specific bank for international business?

Which US-based bank has the most international branches?

What banks offer international accounts?

Bottom Line

If your business is global, your business bank account needs to be able to support the demands of international banking. The providers on this list offer international transfers to and from customers, clients, and employees outside the US. Each offers different lists of countries and currencies, different products and services, and varying fees for those services. Compare each provider and choose the one that best aligns with the international business needs of your company.