Payment System Account: A Perfect Alternative for your Business

Opening a foreign bank account is quite a complicated task so most clients are looking for alternative solutions, in particular, a payment system account.

Let’s suppose you are a non-resident company which does not have operations or a physical office in the country of the bank with which you would like to set up an account. You would face difficulties with the bank account opening; there is, however, a great solution – to set up an EU-licensed payment system account.

This article is about the basic advantages of payment systems and about how to select a payment system for one’s business.

Why open a payment system account: main benefits

We recommend starting with a simpler solution which would help launch company operations quickly. Most importantly, you can start accepting and making payments within a very short time.

The key advantage of payment systems is the option to set up a multi-currency account with an IBAN number. You will be able to conduct payments in various currencies in the majority of countries worldwide. Here are a few other benefits:

• a friendlier customer identification process;
• affordable maintenance and transaction fees;
• it takes just a few days to open the account;
• 24/7 payment processing;
• cards issued by VISA, MASTERCARD, etc.;
• option to connect to a merchant account.

How does one choose a payment system? Why do SBSB customers choose Bilderlings?

There are multiple payment systems offering their services today so beginner businessmen may find it challenging to choose a good payment system. They need to decide on a great number of questions: which currency will be used, what kind of account is required, whom the entity will cooperate with, how much the turnovers will be etc.

SBSB’s advice is to set up accounts with reputed payment systems only. Bilderlings, a British payment system, has been the top choice of SBSB customers for many years.

Why Bilderlings? Bilderlings Pay Limited, a payment system incorporated in Great Britain, holds the FCA (British regulator) license and issues electronic money. Bildrelings is annually certified in keeping with PCI DSS security standards, and is a member of SEPA and SWIFT. Its FinTech platform works with major payment systems, VISA, and MasterCard.

Our lawyers have extensive experience in opening accounts for businesses. They will be happy to give top quality advice on all the aspects of account opening, both with payment systems and banks. By the way, you can get a free online consultation in our Telegram chat.