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.
- Best overall bank for international business: Bank of America
- Best for full suite banking products and premium checking: Chase
- Best for high APY and reduced fees from higher-tier accounts: Bluevine
- Best for transparent exchange fees and speedy fund access: Novo
- Best for multi-member teams needing more accounts and debit cards: Relay
- Best for fast transfers and conversion fee savings: Airwallex
- Best for multi-currency accounts and plan options: Revolut
- Best for cost-effective international payments: Wise
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Best international banks for business comparison
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 (out of 5) | Charges monthly fees | Offers annual percentage yield (APY) | Offers free monthly transactions | Number of Countries & Currencies | |
|---|---|---|---|---|---|
| Bank of America Business Advantage Fundamentals Banking | 4.34 | Yes | No | Yes | Countries: 200-plus Currencies: 140-plus |
| Chase Business Performance Banking | 4.30 | Yes | No | Yes | Countries: 160-plus Currencies: 120-plus |
| Bluevine Standard | 4.20 | No | Yes | Yes, unlimited | Countries: 30-plus Currencies: 15 |
| Novo Business Checking | 4.11 | No | No | Yes, unlimited | Countries: 150-plus Currencies: 50 |
| Relay Business Checking | 4.05 | No | No | Yes, unlimited | Countries: 180-plus Currencies: 32 |
| Airwallex Global Account | 4.00 | No | No | Yes | Countries: 150-plus Currencies: 23 |
| Revolut Basic Business Account | 3.92 | No | No | Yes | Countries: 100-plus Currencies: 25 |
| Wise Business Account | 3.87 | No | Yes, optional | Yes, unlimited | Countries: 150-plus Currencies: 40-plus |
Bank of America: Best overall bank 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.
Why we chose it
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.
Monthly fees
- Business Advantage Fundamentals Banking: $16 (waived for the first 12 months); after this period, fee is waivable by having:
- A $5,000 combined average monthly balance.
- At least $250 in new net qualified debit card purchases.
- A Preferred Rewards for Business membership.
- Business Advantage Relationship Banking: $29.95; waivable by having:
- A $15,000 combined average monthly balance.
- A Preferred Rewards for Business membership.
Features
- Four waived outgoing international wire transfers under the Platinum Honors tier.
- Preferred Rewards for Business offers exchange rate discounts and free FX shipping fee.
- No FX fees.
- Cash Flow Monitor, a cash management tool to track business performance.
- QuickBooks, ADP, and Zelle integration.
- Free access to business credit score information.
- Savings rate boosts and lending and merchant services discounts under the rewards program.
- Small business lending includes lines of credit, SBA loans, commercial real estate (CRE) loans, and healthcare practice loans.
Pros and cons
| 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. |
Chase: Best for full suite banking products and premium checking
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.
Why we chose it
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.
Monthly fees
- Chase Business Complete Banking: $15; waivable by having any of these:
- $2,000 average daily balance (ADB).
- $2,000 Chase Ink Business Cards spend.
- $2,000 in deposits from Chase QuickAccept or other eligible Chase Payment Solutions transactions.
- Chase Private Client Checking account.
- Qualifying proof of military status.
- Chase Performance Business Checking: $30; waivable by meeting a $35,000 or greater combined ADB in qualifying business deposit accounts.
- Chase Platinum Business Checking: $95; waivable by meeting a $100,000 combined ADB across qualifying business deposit and investment accounts. With a linked Private Client Checking account, the required ADB is $50,000.
Features
- $0 or $5 wire fees for outbound FX transactions facilitated online or via Chase’s app.
- Free associate and employee debit cards upon request.
- Chase Bank QuickBooks integration.
- Built-in card acceptance through its mobile app.
- Fraud protection services.
- Payment and invoicing services via Chase Payment Solutions.
- Digital banking and branch locations in 48 states.
- Online and branch customer support.
Pros and cons
| 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. |
Bluevine: Best for high APY and reduced fees from higher-tier 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.
Why we chose it
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.
Monthly fees
- Bluevine Standard: $0
- Bluevine Plus: $30; waivable by having:
- An ADB of $20,000 across your Bluevine checking account, including subaccounts.
- A spend of $2,000 monthly using your Bluevine debit card or credit card.
- Bluevine Premier: $95; waivable by meeting:
- An ADB of $100,000 across your Bluevine checking account, including subaccounts.
- A spend of $5,000 monthly using your Bluevine debit card or credit card.
Features
- International payments to 32 countries in 15 currencies.
- Reduced wire transfer fees and same-day ACH fees for higher-tier accounts.
- FDIC insurance of up to $3 million.
- Unlimited transactions.
- Quickbooks, Xero, and Wave integrations.
- Compatible with Wise, Venmo, CashApp, and Square.
- Lines of credit up to $250,000 at low rates.
- Business credit card with a $0 annual fee.
Pros and cons
| 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. |
Novo: Best for transparent exchange fees and speedy fund access
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.
Why we chose it
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.
Monthly fee
- Novo Business Checking: $0.
Features
- Low-fee international payments through Wise partnership.
- QuickBooks, Stripe, Square, and PayPal integrations.
- Unlimited and free customized invoices through the Novo app.
- Physical and virtual debit cards.
- No standard ACH fees.
- Free incoming wire transfers.
- Novo perks include discounts on QuickBooks, Stripe, and Google Cloud.
- Merchant cash advances financing up to $75,000 via Novo Funding.
Pros and cons
| 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. |
Relay: Best for multi-member teams needing more accounts and debit cards
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.
Why we chose it
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.
Monthly fees
- Relay Business Checking: $0.
- Relay Pro: $30; not waivable.
Features
- $10 outgoing international wire fees for Relay business checking.
- $0 outgoing international wire fees for Relay Pro.
- Free cash deposits at Allpoint ATMs.
- QuickBooks, Xero, Gusto, and Plaid integrations.
- Relay business savings accounts earn 1% to 3% interest.
- Shared account access with team members.
- Debit cards can be customized.
- Email and phone support.
Pros and cons
| 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. |
Airwallex: Best for fast transfers and conversion fee savings
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.
Why we chose it
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.
Monthly fee
- Business Account: $0.
Features
- International transfers to over 150 countries.
- Wide range of local and global transfer options.
- Multi-currency corporate cards.
- 85% global transfers arrive within the day.
- Secure worldwide payment acceptance.
- Built-in expense management.
- Over 20 accounting, productivity, and eCommerce software integrations.
- Automated bill payments.
Pros and cons
| 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. |
Revolut: Best for multi-currency accounts and plan options
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.
Why we chose it
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.
Monthly fees
- Basic: $0.
- Grow: $30.
- Scale: $119.
- Enterprise: Custom.
Features
- Multiple local account options are in USD, EUR, CHF, and GBP.
- Physical cards and virtual cards.
- QuickBooks, Xero, and Sage integrations.
- In-app chat support available 24/7.
- Shared account access.
- Creation and sending of custom invoices.
- Facilitates bulk payments for paid plans.
- Various payment acceptance tools.
Pros and cons
| 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. |
Wise: Best for cost-effective international payments
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.
Why we chose it
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.
Monthly fees
- Business Account: $0.
Features
- International transfers at a low fee.
- Mid-market or real exchange rate.
- Overseas payments to over 150 countries.
- QuickBooks, Xero, Sage, NetSuite, and Wave integrations, among others.
- Issue additional employee cards at $5 each.
- Optional APY.
- Shared account access.
- Chat, email, and phone support.
Pros and cons
| 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. |
How to choose the best banks for international businesses
We looked at the following factors when evaluating and assigning a rating for the best banks for international businesses:
- Number of currencies and countries available for international payments.
- Monthly fees and waiver conditions.
- Transaction limits.
- Interest rate offer.
- Wire transfer costs and limits.
- Transfer speed.
- Account features.
- Business software integrations.
- Ease of account opening and app ratings.
- Cash deposit options.
- Other business banking products and services.
- Customer support availability.
Methodology
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.
Frequently asked questions
What are the security measures in place for international banking for business?
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.
What are the key factors when selecting an international bank for business?
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.
How long does it take to open an international business account?
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.
What are the requirements for opening an international bank account for business?
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.
