Open an EUR Account - Euro
The Benefits of an EUR (euro) Account with Mondial Change
Opening an EUR (euro) account is free and very quick. By opening this account through Mondial Change, you benefit from the following advantages:
- No account maintenance fees are charged
- No transaction fees are charged
- An account with a unique personalized IBAN
- An account opened with an accredited partner institution within the European Union
- The account can be located in different countries according to your needs (see the list below) and notably in France
Services Available with the Opening of an EUR (euro) Account
- You can receive payments in EUR from around the world and allow your subsidiaries or clients based in Europe to pay you in their local currency
- You can keep your EUR (euro) in the account
- You can reuse your EUR (euro) to make payments and pay beneficiaries in EUR
- You can convert your EUR (euro) to any other major currency at very competitive rates
- Your EUR (euro) deposits can be remunerated in the form of cashback paid monthly into your EUR account
* Cashback is reserved for certain clients under conditions and is only available for accounts opened with our partner Ebury. Please contact us for more information.
Mondial Change Answers All Your Questions About EUR - Euro Accounts
How to open an EUR (euro) account?
To open an account, it's very simple.
- Send us your request to open an EUR account via the form on the left or through the account opening form. We will contact you to schedule a phone call to fully understand your needs regarding EUR flows.
- Following this exchange, we assist you with the administrative formalities to open access to the services of one of our partners, selected based on your needs. We remain your sole point of contact for the entire client relationship.
- Once access to the services is validated, you can request the opening of your euro account and any other eligible currency. The banking details of your EUR account are generally provided within a few minutes, and you can start receiving and making payments in EUR (euro).
- If your business evolves and you have needs in other currencies, you can request the addition of an account in another currency at any time.
What are the fees associated with opening an EUR (euro) account?
Access to our services and the provision of currency accounts are completely free. Our remuneration is solely based on the exchange rate applied to your euro purchases/sales. This exchange rate is always communicated transparently before your transactions are validated.
Is the EUR (euro) account a personalized bank account?
The euro (EUR) account for which we provide you with the details is not a bank account per se because the account-holding institution is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN associated with the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening an euro (EUR) account for more information.
In which countries can the EUR (euro) account be located?
It may be useful for your EUR (euro) account to be located in France or, conversely, in another country, depending on your operational needs and the location of your clients. This is why we allow great flexibility in the location of currency accounts. The EUR (euro) account can be located in the following countries of your choice:
- France
- Germany
- United Kingdom
- Belgium
- Netherlands
- Luxembourg
- Spain
- Portugal
- Poland
- Italy
- Bulgaria
- Ireland
- Canada
- Hong Kong
- United Arab Emirates
You can consult here the updated table of possible locations for EUR (euro) accounts: account locations
Is it possible to keep EUR (euro) in the EUR account?
You can use this euro account to receive or store EUR for as long as you wish as long as your account is active. You are automatically notified by email each time an euro transfer is received in your EUR account. You can then freely reuse these EUR to make EUR payments to your suppliers or convert your euros benefiting from very competitive exchange rates. You have no obligation of movement on the accounts.
How does the cashback work that remunerates the funds left in the EUR (euro) account?
Cashback is reserved for some of our clients to remunerate them on the euro funds they hold with our partner Ebury. Your account manager can provide you with the cashback rate that applies to your account. Cashback rates evolve notably according to the changes in the European Central Bank's key interest rates. Cashback is calculated monthly and paid every month into your account.
Is the EUR (euro) account compatible for receiving EUR from marketplaces like Amazon or collection systems like Paypal?
Foreign currency payment collection systems like Adyen, Stripe, Paypal, Hipay, or internal systems to marketplaces like Amazon Pay are widely used by companies conducting international transactions. These systems are effective, but if you do not have an account in the collected foreign currency, your income in this currency is automatically converted into euros at a often very unfavorable exchange rate, and even when you have a bank account in the collected currency, this account often needs to be located in the country where the sale is made, which can be complicated with a traditional bank. Some of our partners offer currency accounts compatible with most marketplaces and collection systems.
Besides EUR (euro), what other currencies are available for opening an account?
You can find all eligible currencies for opening a currency account by visiting this page.
Can checks, cash be deposited, or can the funds in my EUR (euro) account be used with a bank card?
It is not possible to deposit checks or cash into your EUR (euro) account. Only bank transfers are accepted to conduct transactions on the account. No bank card can be linked to the account at the moment.
Are account statements listing all EUR (euro) transactions available?
Account statements listing all euro operations are downloadable at any time from the online interface. These statements include maximum information on beneficiaries, the origin of funds, related exchange operations, to facilitate the work of your accounting department.
Can the EUR (euro) account entries be integrated into an ERP or TMS like SAP, SAGE, AGICAP, or Kyriba?
All account statements can be automatically integrated into your treasury software or ERP through MT940 files. You thus find all EUR (euro) movements in your software, and you do not even need to connect to our online interface to obtain the up-to-date balance of your EUR (euro) account. Our technical teams can also automate the processing of currency payment files provided by your TMS / ERP.