As a company outside Europe you may need to make Euro transfers to other companies, freelancers or suppliers in Europe occasionally, daily or monthly. If you are an international company that needs to transfer money to Europe or to make payments within Europe to suppliers and employees, you have several options.

  • SWIFT – Making SWIFT Euro transfers from your bank outside of Europe is costly as the transaction needs to pass through several intermediary banks that all take a fee.
  • SEPA – Making a SEPA Euro transfer from a bank in a country within the Single Euro Payments Area is cheaper than a SWIFT transfer but you will need an account in one of the SEPA countries.
  • EMI – If you have an account with an EMI (Electronic Money Institution) in Europe that has a license to issue electronic money, for example PayPal you can do low-cost Euro transfers in and out of Europe.


How to Get an EMI Account?
Opening an EMI account is similar to opening a regular bank account. You will need to submit a number of company documents with information about your business’s shareholders and beneficial owners. Some EMIs will also ask to see a business plan as well as other documents. The application process can take a few weeks. Once you have succeeded in opening an EMI account you can make easy and affordable money transfers to and within Europe using your EMI account.

How to make mass payments to Europe?
When making mass payments in Euro you will be charged a fee for each individual transfer; the mass payment will not be charged as one payment. This can amount to a significant cost which can be avoided by doing a SEPA mass payment. To do this you will need an account with a financial institution in the SEPA zone.

What will you need to make a transfer to or within Europe?
Depending on what system you use for your transfer you will need the recipient’s bank and account details as well as the IBAN and SWIFT/BIC. You can’t make a transfer without the necessary bank codes and account details so it is recommended that you have this information ready in advance to make the payment process efficiently.

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