Opening a European IBAN account for freelancers in euros

Opening a European IBAN account for freelancers is beneficial. IBAN is an international bank account number. The introduction of this code was necessary to standardize settlements between banks within the EU. Now it is used in different states of the world. The use of the account allows to making payments between banks faster.

What does the code look like

The code includes 34 symbols. The first two allow you to identify the country where the recipient's bank is located. Characters 3 and 4 stand for the control number, which is calculated according to the standardized procedures.

The remaining characters represent the basic bank account number, which includes the account number and the sign of the beneficiary bank. The length of the code should not exceed 34 characters. To make it easier to read this code, most often it is written in groups of 4 characters, separated by spaces. In the payment documents, this code can be entered without spaces.

Features of opening IBAN account for individuals

Opening an IBAN account in the payment system or bank has many advantages. To open a European IBAN account, contact our specialists at IT-OFFSHORE. Such accounts are notable for inexpensive and qualitative service. There is an opportunity to get access to various payment instruments and services, including those for non-residents.

By opening a personal account with an IBAN number you can send payments in the SEPA area, receive payments for services provided and work performed, deposit funds for goods and services, training. To open an account, you will need to provide proof of identity and proof of address.

Top 3 banks in Europe for account opening

Rabobank is one of the popular banks located in the Netherlands. It specializes in financing projects in the food and agricultural industry. The group includes more than 100 independent banks and offices.

Another well-known bank is NRW. It is located in Germany and is considered one of the largest banks in the European Union. It is also distinguished by its reliability and a wide range of services. You can set up an account with the NWB bank in the Netherlands.

Another option where you can open an account is Landwirtschaftliche Rentenbank. This bank is located in Germany and is based in Frankfurt. It is possible to set up an account at the Cantonal Bank of Zurich. It is one of the largest banks in Switzerland and has representative offices in other countries.