Grow your business
with Satchel
- Open an account online without waiting in line
- Get a unique European IBAN
- Start transacting in 38 currencies through SWIFT and SEPA
- Enjoy personalised customer support
- Cover all business expenses with Satchel payment cards
Solutions for corporate needs
Save funds
Deposit funds for future business purchases and other expenses
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
- Simple online application form
- Personal account management approach
- Increased data protection
Payment cards that cover your needs
Physical and virtual cards for any purchases
Contactless payments
Payroll programs
ATM withdrawals worldwide
Tailor-made pricing
Multiple currencies for cross-border payments
No more separate accounts for each foreign currency. Send and receive money around the world in 38 currencies with a multi-currency IBAN linked to a single account.
We have offices in 4 European countries. Therefore, it was essential for us to find a unified system that would help to close all financial issues in each of them. Ideally, remotely, since it’s not very convenient to wander between countries for opening accounts and conducting business.
Satchel helps a lot with it. For the entire time of working with them, there were no questions. And you know, taking into account that as an advertising agency we really love questions, that’s actually great.Viktor ShkurbaCEO at KA.KA.HA
Payroll program
- Batch payments using our API
- Issue from 3 to 100 cards
- Transfers directly from the Client office or the Satchel App
Our company operates worldwide and has been in business for over 20 years. We mainly use Satchel to make SEPA and SWIFT payments to our raw materials providers. I really like that we have been assigned a personal account manager who helps us with all processes and questions. In the age of chat bots, I really value this live communication. It’s also great that our money is stored in a segregated account, under full deposit protection of the Bank of Lithuania.
Alexander A.Head of Development at Trading company
Payroll program
- Batch payments using our API
- Issue from 3 to 100 cards
- Transfers directly from the Client office or the Satchel App
Discover the EU-China business direction
Make transfers in Chinese Yuan and Hong Kong Dollar and expand your outreach to the Chinese and European markets. Both EU and Chinese residents are eligible for account opening.
EU-China Payment InfrastructureAccounts can be opened for both EU and Chinese residents
SEPA Instant Payment
Instant pan-European transactions with SEPA Instant Credit Transfer.
- Execution time of 10 seconds
- Availability 24/7, 365 days a year
- EUR 100,000 transaction limit
Safe & Sound
We adhere to highest EMI security standards to keep your money and personal data safe.
- Client money is stored on a segregated account with the National Bank of Lithuania
- Funds protection using 3D secure and 2FA
Choose the business account that suits you best
Choose your business account
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Local
LT residents |
European
EU residents |
Ukrainian
UA residents |
International
non-EU residents |
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|---|---|---|---|---|
| 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 transfers (outgoing) |  |
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| SWIFT transfers (incoming/outgoing) | |
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| Mastercard physical card | |
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| Virtual cards | |
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| Cash withdrawals across the globe | |
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| Mobile banking APP | |
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| In-app live chat support | |
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| All your money is protected by the Bank of Lithuania | 100% Secure | 100% Secure | 100% Secure | 100% Secure |
FAQ
A business current 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 paying 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.
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.
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.
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.
On average, banks will require an opening deposit of anywhere from EUR 5 to EUR 1000, depending on the bank itself, its policies, and your business type. Some 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.
Always at your service
For issues or questions, check out our FAQ page or contact us via phone, email or app chat.
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