Virtual Bank Account


B2B Pay brings international wire transfers into the 21st century with virtual bank accounts. It is now possible for your business to have a non resident bank account in Europe . With a virtual bank account you can accept payments from 36 EU countries. We route your money to your account in your home country the same day - in most markets - with 80% savings in fees.

Problem and

For many international companies, international banking is time-consuming, frustrating, expensive. Without a non resident bank account in Europe, international payments can take almost a week. And due to the sprawling systems and thousands of employees at traditional banks, the costs are high.

Without B2B Pay, your company:
  • Cannot open a bank account in Europe
  • Cannot collect or send domestic wire transfers (SEPA Payments)
  • Pays SWIFT fee of €30
  • Pays currency conversion cost of 3-6%
  • Cannot access EU payment gateways
  • Suffers the frustration of bureaucratic banking processes
  • Cannot collect payments from marketplaces like Amazon
  • Waits 2-5 days per transfer

With a virtual bank account (VBA) you can make and receive payments instantly. Having a non-resident European bank account allows you to centralise incoming and outgoing payments, which makes reconciliation easier. You spend less time on manual processes and the cost of operating the bank account itself is reduced because incoming funds are routed directly to your master account, rather than being held in a VBA.

With B2B Pay, your company:
  • Can receive SEPA payments from 36 EU countries in 2-12 hours
  • Can make SEPA payments to 36 EU countries
  • Saves €30 SWIFT fee and +80% on Foreign Exchange (FX)
  • Can take advantage of FX conversion automation
  • Can use its IBAN to integrate with marketplaces and payment gateways
  • Can access premium brokers to make global payments in 138 currencies
  • Gets Instant notifications of incoming payments
  • Can take advantage of online onboarding


Unlike transacting via traditional banks, you don’t have to write checks, fill out forms to pay bills or go to a physical bank. With operations taking place purely online, transactions for virtual bank accounts are more convenient and easy with just a few clicks.

If you automate your payments, you even do not have to click anything anymore. No more bank slips to file and organize, making account management and tracking of transactions from one main source easier. In addition, you can transact anytime, anywhere. All you need is an internet connection.

Another thing that makes virtual banking easy is you do not have to be a resident to open an account. That is not the case for opening traditional bank accounts where you have to be a permanent resident. Virtual bank accounts are a soltution to global entrepreneurs who do not have European residency.

Quicker processes


The online nature of virtual banking cuts down time that is often required in traditional banking.

Traditional banks have many processes to perform, and with the financial regulation required for customer data and payments, this slows down their process. While virtual banks also comply with the requirements, they do only a small fraction of what traditional banks are doing, making virtual banks more efficient and nimble.

International money transfers via traditional banks would take days, or even weeks. With a B2B Pay virtual bank account, you can receive payments from 36 countries in 2 to 12 hours.



Virtual banking has the tremendous potential of bridging the technological gap in data sharing especially when it comes to transparency and taxation. By improving the transactions, virtual banks could help governments save millions in their strategy for transparency and beating tax evasion.

Financial viability


Virtual banks incur low overhead since they do not need to spend for electricity, rent, janitorial services and other similar expenses.  This enables them to charge lower and fewer  transaction and other fees to customers as compared to traditional banks. Virtual banks can lower your banking fees for as much as 80%.




A global exporter from Brazil doesn’t yet have the volume to set up subsidiaries overseas or apply for a non resident bank account in Europe. The company is forced to rely on wire transfers to get paid. These come with a 3% to 6% transaction fee and - almost certainly - delays. With these solutions there is no way to track the progress of the transaction for either the sender or the receiver. B2B Pay virtual bank accounts have only a 1% transaction fee. Money arrives quickly and both parties are notified and can track every stage of the process.

B2B Transfers are smarter with B2B Pay

B2B Pay offers non European companies a virtual bank account with their own IBAN number. You can use this non resident virtual bank account to receive payments from within Europe, bringing you closer to your customers. That's right,  you don't need to be a resident to open a virtual bank account. Payments to your VBA will be sent to your domestic bank account for a fee of only 1% from the mid-market rate.

B2B Pay can offer you this by ensuring the best rates for sending money to your domestic bank account from your virtual bank account in Europe. Your customers in any of the 36 SEPA zone countries can make a simple local payment to the virtual bank account in your business’ name, without the hassle of reference numbers.

Opening a fully featured bank account

The service we offer is perfect for those that don't need the full stack of banking services in Europe and merely want to collect money from customers or clients.

Opening a personal bank account in Europe

There are banks that will let you open an account if you're not a resident, but most will outright refuse you as a customer based on their policies. Whereas with virtual banks, you can open a virtual account even if you are not a resident.

Opening a business bank account in Europe

It is possible to open up a European business account without a registered business in Europe. But only if you have enough transaction volume -- 10M€/year and up. Banks still require that you set up a subsidiary in their country, which is a pricy endeavour that involves lawyers, accountants, auditors, and bookkeeping. Even with the easiest EU banks, opening a corporate account can take considerable time and money to get things setup properly.

Why is it so hard to get the service you want from traditional banks as a non-resident?

Many non-EU companies only need a bank account in Europe for a limited number of specific services. Banks have very restrictive policies for non-EU companies and will often try to push full service banking packages to new clients, including checking accounts, credit cards, global payment services, insurance, credit, etc.

Because of this service model and the subsequent requirements for risk management and compliance, applying for an account soon becomes a bureaucratic nightmare that takes a lot of effort and time. Time you should be spending doing business instead.

What is it like to have a virtual bank account in Europe?

With a virtual bank account you get the exact service you need without the costs and complexity of setting up a traditional European bank account. For example, if you just want to collect payments in Europe you don’t need internet banking, bank statements, audit reports and all the other optional features the bank would like to sell you.

What is a virtual bank?

A virtual bank is a bank without the hassle. It means that - generally speaking - your business can get an account set up in a few minutes with a simple phone call. You don’t have to clear time in your schedule to visit the bank office, no paperwork to sign, you don't even have to worry about residency. With a virtual bank you get a safe infrastructure for secure transactions, regulated in the same way a normal bank is. The same EU rules and regulations apply, so your funds are safe. Another advantage is that virtual banks work with multiple banking networks simultaneously which means you have multiple banks working for you in one. The best the world of banking has to offer today is a Virtual Bank Account with a virtual IBAN.

  • Security: choosing safe virtual banking partners is important. However, by default, virtual banks are a safer alternative thanks to modern technology.
  • Better rates: because of a lean approach to business, virtual banks are much more affordable to operate and thus can offer below average rates to all banking services.
  • Mobility: agility is key both in business and in our personal lives. The fact that with a virtual bank you can open a bank account in minutes instead of hours and the fact that you can transfer money globally from your mobile device are examples of the advantages of virtual banks against their traditional counterparts.
  • Bank relationships: all virtual banks operate on top of traditional banking infrastructure because they are the only ones - normally - allowed to do so. This means that the ability to create bank accounts is a heavily regulated matter and thus it takes years to gain leverage to be fully independent. Yet, the technology is independent and thus the operations are far ahead in terms of speed, security and ease.
  • Transaction issues: being manual affairs, a lot of the world of banking grew accustomed to is simply prone to human error. Digital technology permeates the virtual banking industry: from onboarding to scanning your IDs, from verifying credit to automating currency conversion, it is all automated for convenience and cost savings.
  • Better service: since all the boring and menial tasks are automated, virtual banks are better able to assist you. It is that simple.

A business without a virtual IBAN account is missing out

Looking at the market from this new perspective, B2B Pay recognises the need for a simpler way to do business in Europe. If you're a global exporter that doesn't yet have the volume to set up subsidiaries to meet the requirements to open a traditional bank account, you must rely on wire transfers from your importer. That means delays and a steep fee of 3% to 6% per transaction. With B2B Pay's virtual IBAN account you can receive payments in the EU, without the hassle or the costs.

B2B Pay offers you a Virtual Bank Account that provides the exact service you need from a bank account. No costly unnecessary services, complex applications or compliance processes. A non resident bank account is the perfect solution for your international business.

The B2B Pay virtual bank account with IBAN in Europe

B2B Pay is offering a simple solution: after a basic compliance check you will get your own European IBAN number. You can then benefit from free bank transfers from B2B importers from all 36 SEPA countries with a non resident bank account. B2B Pay instantly transfers the money to your domestic bank for a much better fee: up to 80% cheaper.

B2B Pay is very easy to set up.

After setting up your account you will receive your IBAN account number. You can use it right away on your invoices and contracts with customers in the SEPA zone, which include all major European countries. You will get a notification when money has been transferred into your account.

For which countries can we do a B2B Transfer?

US Virtual bank account

For US companies that regularly export goods or services into Europe a B2B Pay IBAN number can save a lot of time and hassle. This includes non-profit organisations.

Virtual bank account India

Indian exporters can expect to save even more money and paperwork with a virtual bank account in Europe.

Virtual bank account UK

UK citizens that need a virtual bank account in Europe can get one with B2B Pay. Expect to save 80% on fees and no more paperwork.

Other countries

We are also working with customers in other countries, including Canada, Brazil, Indonesia and dozens of other countries in the world.


How do virtual bank accounts work?

Virtual accounts are associated with a physical account. They are a form of current accounts issued by banks, but without the need of opening and operating them in the same way a traditional account would be. They allow users to do transfers using the resources on the “master”, physical account. There is no balance that’s held on a virtual account, which reduces the costs of operating it. Each of the virtual accounts associated with a master account has its own unique number. 

How do I set up a virtual bank account?

These steps differ depending on the bank/financial institution you’re using. Since virtual banking is at the core of the B2B system, your bank account with us will be automatically a VBA. 

Virtual Bank accounts and debit cards, what are my options?

As with a regular account, you have an option to ask your bank/financial institution for a debit card that works with the virtual bank account. 

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