Introduction
Globalization has transformed the way companies handle money. From e-commerce to high-risk industries, international businesses face the same challenge: traditional banks often fail with cross-border payments. Delays, hidden fees, and poor transparency slow down growth.
That’s why more and more companies are opening IBAN accounts for international businesses. They provide faster transfers, lower costs, and global reach.
Reason 1: Faster Cross-Border Payments
IBAN accounts accelerate payments through SEPA and SWIFT networks. Transfers usually arrive within 1–2 business days instead of weeks. This helps businesses pay suppliers on time, receive customer payments faster, and maintain cash flow stability.
Opening an IBAN account is the foundation for any company working across borders.
Reason 2: Lower Transaction Costs
Traditional international transfers come with hidden charges. IBAN-based payments reduce these costs significantly. SEPA transfers in the EU are almost free, while SWIFT with IBANs provides predictable fees.
International businesses save thousands each year, especially when using a high-risk merchant account to process multi-currency payments.
Reason 3: Multi-Currency Flexibility
IBAN accounts are not limited to EUR. They allow companies to manage USD, GBP, and other currencies, reducing conversion costs and simplifying global operations. Providers like Sharpay also connect IBANs with crypto wallets, giving even more flexibility.
Reason 4: Enhanced Business Credibility
Clients and partners trust companies with IBANs more than those using offshore or personal accounts. Having a verified business IBAN increases reputation and compliance. For entrepreneurs who need flexibility, Sharpay also offers personal IBAN accounts.
Reason 5: Integration with Digital Finance
IBANs integrate seamlessly with modern fintech: online banking, crypto payments, virtual cards, and payment gateways. Linking your IBAN with payment processing gives your business full control over global transactions.
How to Open an IBAN Account
The process is simple with Sharpay. Submit your company details, pass compliance, receive your unique IBAN within days, and integrate it with your business tools.
FAQ
- What makes an IBAN account better than a standard bank account? – It is optimized for international transfers, reducing errors and costs.
- Can I use an IBAN for SWIFT transfers? – Yes, IBANs fully support SWIFT worldwide.
- How long does it take to open an IBAN? – Typically 3–7 business days.
- Can I use one IBAN for both business and personal use? – Better to separate. That’s why Sharpay offers personal IBAN accounts alongside business IBANs.
- Is an IBAN suitable for high-risk industries? – Yes, especially when paired with a merchant account.
Conclusion
IBAN accounts provide faster payments, lower fees, global credibility, and seamless integration with modern finance. They are essential for international businesses.
👉 Open your business IBAN account with Sharpay today.