If you are a business that regularly makes international payments to global suppliers, choosing an international bank that offers free or low-cost worldwide transfer fees, speedy processing, and multiple currencies is vital. The availability of digital banking is also a critical factor in making cross-border payments faster and more affordable. These create a competitive advantage for companies intent on expanding their markets globally.
We review the 8 best international banks for business.
Below is a summary of the top features we considered for the 8 financial providers. Here is our list of the best banks for international business.
Our rating: 4.34 out of 5
Bank of America is a renowned traditional bank offering various business products and services, which include international payments (see Bank of America’s full overseas wire information). Users can perform wire transfers through online banking and mobile banking. The bank charges $45 for outbound USD international wires and $0 for outbound foreign currency (FX) wires. In addition, members of the bank’s Preferred Rewards for Business program benefit from monthly fees and wire transfer waivers (Platinum Honors tier). New business checking account holders also get a $200 bonus when conditions are met.
We categorized Bank of America as our overall best international bank for businesses because it lets you send over 140 foreign currencies across 200-plus countries and territories. This makes it easy for businesses to create international supply chains and grow their companies. If you order by 2 p.m. local time, your currency ships the same business day. To start ordering foreign currencies online, you must open a business account.
The lowest tier Business Advantage Fundamentals Banking account provides up to 200 free monthly transactions and a cash deposit allowance of up to $7,500 each month. If you’re a member of the Preferred Rewards for Business program, you get a 1% reduced rate on the published exchange rate, plus no fees on standard shipping
 when you use online banking or the mobile banking app to place your orders.
| Pros | Cons |
|---|---|
| Waived monthly fee for the first 12 months for basic tier checking. | No interest-earning checking product. |
| Up to $200 bonus for new business checking accounts. | High average balances required to waive monthly fees. |
| Robust ongoing and tiered rewards. | $2.50 non-network ATM fee. |
Our rating: 4.30 out of 5
Chase is another established traditional bank providing a wide range of business banking products and services, such as business savings, certificates of deposit, financing solutions, credit cards, and merchant services. It offers nationwide branch banking and efficient built-in payment solutions and is our top financial provider in our best banks for quickbooks integration.
Following close to Bank of America is Chase, which lets you send international wires in 120-plus currencies to more than 160 countries. See the latest JP Morgan’s Global Payments Guide. Opening a Chase business account is recommended since outbound FX wires cost zero or a small fee when sent through online or mobile banking
, making it one of the best business banks for international wire transfers. You can select among three business checking options, including a superb premier account. Chase Platinum Checking provides waivable monthly fees, dedicated concierge support, more fraud protection services, and free ATM usage.
| Pros | Cons |
|---|---|
| No required opening deposit and minimum balance for basic checking. | No interest earnings. |
| Unlimited electronic transactions. | Only 20 fee-free paper transactions. |
| $300 cashback bonus for new accounts (conditions apply). | High balances to waive the monthly fees for premium checking accounts. |
Our rating: 4.20 out of 5
Bluevine is a solid fintech company with three business checking options, a credit card with unlimited cash back, and an outstanding line of credit. On top of that, it offers fast international business payments with a turn-around of 24 hours
. Customers can send payments in 15 currencies to 32 countries, except for businesses based in Nevada or those categorized under finance, insurance, or mining. Bluevine pricing is transparent for overseas payments. You will be charged $25 for each USD payment, while a fee of $25, plus 1.5% of the payment in USD conversion will be charged for FX transactions.
Bluevine’s competitive interest rates easily set it apart from other financial providers. With an entry-level Bluevine Standard account, you can get 2.0% APY
 by either spending a minimum of $500 using your Bluevine debit or credit card or receiving $2,500 in monthly payments in your checking account. Once you meet higher balances, you can switch to premium accounts with more benefits, which include higher APY (3.0% to 4.25%) and lower fees (up to 50% off) for outgoing international USD and FX wire transfers.
| Pros | Cons |
|---|---|
| Three business checking options with high yield (2.0% to 4.25%). | Cash deposit fees at Allpoint+ ATMs ($1 plus 0.5% of the deposit amount) and Green Dot locations (up to $4.95). |
| Fee-free lowest-tier business checking account. | Charges $2.50 for non-network ATM use on top of operator surcharges. |
| FDIC insurance of up to $3 million. | No in-person banking services. |
Our rating: 4.11 out of 5
The fintech Novo partners with Wise for global payments, allowing its customers to pay low fees when making cross-border payments in 50 currencies across 150-plus countries. To process your international transactions, you can open a fee-free Novo business checking account and save on monthly fees, as well as get an ATM fee refund of up to $7 monthly when you use your debit card locally or internationally. In addition, using Novo lets you accept Stripe payouts quickly and save on transaction fees.
Novo is among the best banks for international business since it integrates with Wise, allowing you to save when sending international payments. Wise provides a solid mid-market exchange rate that follows the market closely during trading hours. Compared to other financial providers, the conversion fees can be lower and the rates higher, which is beneficial for users. On top of this, Novo offers speedy access to funds through Novo Boost. You can receive Stripe payments from your customers in as fast as a few hours and save as much as $150 because your first $5,000 in Stripe revenue is free.
Novo business checking accounts provide unlimited monthly transactions. You can course your cash deposits through money orders.
| Pros | Cons |
|---|---|
| Up to $7 monthly third-party ATM fee refunds. | No interest earnings. |
| Fast Stripe payouts via Novo Boost. | No physical locations. |
| No opening deposit or monthly fee. | Cash cannot be deposited directly. |
Our rating: 4.05 out of 5
Relay is a digital-only provider that lets you save fees when sending international payments through your business checking account. With over 180 countries for sending international wire transfers and 32 currencies available in Relay, you can easily send payments to global vendors. Relay updates exchange rates every minute based on the foreign exchange market and applies a 1% exchange rate fee for currency conversion.
You will pay $10 for outbound international wire transfers, but this fee is waived when you upgrade to Relay Pro. However, additional fees may be charged by recipient banks or partners. Relay does not set a cutoff period when sending overseas wire payments and sends out wires in two or three business days. You can expect the wired funds to appear in the beneficiary’s bank account in five to seven business days. However, this could vary depending on the intermediary banks involved.
To send international payments, Relay requires you to open a business checking account, and this is largely fee-free with no monthly fees, balance minimums, or initial opening requirements. You can open up to 20 reserve accounts and issue up to 50 debit cards for multi-member teams, making it easy to monitor your team expenses in detail. You can also manage account access for different team members based internationally to streamline your financial tasks.
Cash can be deposited and withdrawn for free at Allpoint ATMs, while a deposit fee of up to $4.95 applies at Green Dot retail locations.
| Pros | Cons |
|---|---|
| No required minimum balance, opening deposit, or monthly fee for Relay business checking. | No APY for checking accounts. |
| FDIC insurance coverage of up to $3 million. | No welcome bonus for new users. |
| 20 subaccounts under a single ID (10 for sole proprietors). | Lacks business financing options. |
Our rating: 4.00 out of 5
Airwallex is a fintech platform offering a business account for international payments. Its Global Account product accommodates instant or same-day international transfers and integrates with popular accounting software Xero and QuickBooks, among others. You can make cross-border transfers to over 150 countries at market-leading FX rates. Opening multi-local currency accounts in 60 countries is possible. Local currencies include USD, GBP, EUR, AUD, HKD, and CAD. You can also hold 23 currencies in your digital wallet. See Airwallex’ supported regions and currencies.
Airwallex is on our list of the best international banks for business for its cost-effective product. You can open a business Global Account for free online with no monthly or initial opening fees. If you seek to expand your business into new international markets, you can easily transfer your USD funds into other local currency accounts to save on conversion fees when paying your overseas business partners and staff.
| Pros | Cons |
|---|---|
| No account opening fees and monthly fees for a Global Account. | No support for ATM withdrawals. |
| Fast online account opening. | Customer support via phone is limited to business hours. |
| Hassle-free international payments via local currency account setup. |
Our rating: 3.92 out of 5
The fintech Revolut offers multi-currency accounts in USD, GBP, CHF, and EURO, which lets you send local payments. You can hold and exchange 25 currencies and spend up to 150 local currencies. There are four company business accounts and three freelancer accounts available to choose from. Transfers between Revolut accounts are free and instant. ATM withdrawals and cash deposits are allowed, but fees
 can apply.
Revolut allows you to save when opening local accounts and conducting international transfers. Depending on your plan, you can get a free international transfer allowance. Overseas payments cost $5 and a set currency exchange amount is allocated monthly without a markup. The amount will differ based on your account. Revolut users can pick a good selection of plans whether they are company owners or freelancers, which provides flexibility.
| Pros | Cons |
|---|---|
| No monthly fees for Basic Business Account. | Fee-free international transfer allowance available in paid plans only. |
| Hold and exchange 25 currencies. | 2% ATM withdrawal fees regardless of amount. |
| Speedy local and international payments with free transaction allowances depending on your plan. | Cash deposits are charged up to $4.95. |
Our rating: 3.87 out of 5
Wise is a popular platform for sending international payments because it uses the real exchange rate or the mid-market rate. You can open a Wise business account with no monthly fee, but a one-time fee of $31 is collected to receive payments into your account. This fee applies to the following currencies: USD, GBP, EUR, AUD, and NZD. Users can earn an optional APY for their USD balances and get passthrough FDIC insurance of up to $250,000 from a partner bank, Community Federal Savings Bank.
You can send international payments through Wise at lower fees than other banks since it uses the mid-market rate, which is more favorable and cost-effective. No foreign transaction fees apply when you send funds to over 150 countries in 40-plus currencies. Opening local accounts in 8 currencies also lets you save on conversion fees when you pay your international suppliers and employees. Additionally, Wise provides transparent fees when sending money.
| Pros | Cons |
|---|---|
| No monthly fee for business account. | Only two fee-free ATM withdrawals monthly. |
| Hold 40-plus currencies. | Cash and check deposits are not accepted. |
| Offers optional interest earnings. | No Wise card for US-based businesses. |
We looked at the following factors when evaluating and assigning a rating for the best banks for international businesses:
Before creating the list of the best banks for international businesses, we assessed the financial provider’s international payment services, specifically the number of countries and currencies available for sending overseas transfers. We also checked the bank’s fee structure, such as monthly fees, opening deposits, and required balance requirements. Additionally, we reviewed the APY offer, fee-free monthly transaction limits, ease of account opening, and speed of receiving international payments.
Banks that provide international banking use two-factor authentication (2FA) and follow stringent Know Your Customer (KYC) practices. These are implemented to protect your business reputation and enhance the bank’s reliability.
Choosing the right international bank entails evaluating the bank’s financial stability and checking the number of countries you can send international payments, including the number of available currencies. The speed of the transfers and applicable transaction fees are also crucial.
International business accounts can be opened as quickly as a few minutes online, granted that you can submit complete personal and business information, including the required company documents.
Typically, banks will ask for proof of ID, business address, employer identification number (EIN), or Social Security number (SSN) for sole proprietorships, and business licenses. See our article on how to open a business bank account for more details.
This article was reviewed by our banking expert Tricia Jones.
