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Ultimate account for your business

Get a unique European IBAN online and cover all business needs with Satchel payment cards.

Open business account
Solutions for corporate needs
Safe and secure storage
Deposit funds for future use with additional layers of protection using 3D secure and 2FA
Transact with ease
Manage your daily transactions with clients, partners, and suppliers
Invest smartly
Invest your dividends or extra earnings to increase corporate capital
Simplified accounting
Keep track of your account balance and transaction history for efficient and transparent bookkeeping

Remote account opening

  • Unique European IBAN
  • SWIFT and SEPA transactions in 38 currencies
  • Simple online application form
  • Personalised customer support
  • Segregated account protected by the National Bank of Lithuania, with an added layer of protection thanks to 3D Secure and 2FA

Payment cards for your business needs

  • Physical and virtual cards for any purchases
  • ATM withdrawals worldwide
  • Tailor-made pricing

Multiple currencies for cross-border payments

Send and receive money around the world in 38 currencies with a multi-currency IBAN linked to your single account.

Payroll program

  • Manage salary payouts and corporate expenses
  • Issue from 3 to 100 cards
  • Send batch payments with our API
  • Make transfers directly from your Client office or the Satchel app

Discover the EU-China business direction

Expand your outreach to the Chinese and European markets by making transfers in Chinese Yuan and Hong Kong Dollar. EU and Chinese residents are eligible for account opening.

Debit Mastercard cards from Satchel

Link it to several accounts in different currencies

Pay in the currency of the transaction

Avoid currency exchange fees

Direct access to your funds 24/7

Choose the business account that suits you best

Local

LT residents

European

EU residents

Ukrainian

UA residents

International

non-EU residents

Monthly maintenance fee € 4 € 35 € 5 € 50
Additional account opening (sub-account) € 50 € 50 € 50 € 150
Instant transfers between Satchel users Free Free Free Free
SEPA transfers (incoming) Free Free Free Free
SEPA Instant transfers (incoming) Free Free
SEPA transfers (outgoing)
SEPA Instant transfers (outgoing)
SWIFT transfers (incoming/outgoing)
Mastercard physical card
Virtual cards
Cash withdrawals across the globe
Mobile banking APP
In-app live chat support
All your money is protected by the Bank of Lithuania 100% Secure 100% Secure 100% Secure 100% Secure

FAQ

What is a business account?

A business account is opened in the name of the company and is used for corporate transactions with suppliers, partners and customers, as well as purchases, bill payments etc. It also has a variety of additional uses, such as reporting, audit, salary payout and bookkeeping. Such accounts operate similarly to personal ones, however, business account holders can access services that are unavailable to individual users, such as:

  • Foreign currency transactions
  • Credit checks
  • Payroll
  • Credit line opening

Today, you can open a business account online, without the need to visit a bank branch and provide heaps of documentation. Check out this page for tips on online account opening for your business.

Where is the Satchel Business account available?

Satchel Business accounts are currently available for companies that are registered and have a physical presence in the European Economic Area (EEA) or Switzerland. This includes the following countries: Austria, Belgium, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.

What documents are required to open a Business account?

To open a business account with Satchel, you will need to provide the following list of documents:

1. Online application form.
2. Copy of the business owner’s passport or ID (only for citizens or residents of the EU or the EEA).
3. Proof of address.
4. A detailed business description.
5. Corporate documents.
6. Supporting documents on clients/suppliers.
7. Documents with supporting information about initial funding.
8. Verification through the Ondato solution.

More information can be found here.

What types of accounts do we offer?

At Satchel, we offer business and merchant accounts. A business account is opened remotely and allows you to:

  • Get a unique European IBAN;
  • Transact in 38 currencies through SWIFT and SEPA;
  • Enjoy personalized customer support;
  • Cover all business expenses with Satchel payment cards.

You can learn more about the benefits of the Satchel business account here.

A merchant account is also opened online and allows businesses to accept multiple payment types, such as debit or credit cards. A merchant account with Satchel allows you to:

  • Accept card payments in 20 currencies;
  • Simplify your reporting process;
  • Use APIs for faster integration;
  • Ensure full security and compliance.

How much money is needed to set up a business account?

On average, banks / financial institutions will require an initial deposit of anywhere from EUR 5 to EUR 1000, depending on the financial institution itself, its policies, and the type of your business. Some EMIs / banks only have a monthly maintenance fee and no initial deposit requirements. The monthly fees can range from EUR 10 to EUR 50.

You can find the Satchel business account opening fees here.

Get in touch with Satchel
Submit your request and our specialists will get back to you shortly with the most suitable solution