Best Bank/Fintech in Europe to receive and send international payments

[thomasparra]

I am starting a company in France and most of my clients will be paying me in EUR or USD. My partners/suppliers will require payment in USD/EUR and a lot of other local currencies.

Should I bank with a large bank (Société Générale) and also get Revolut/Wise to process most payments that are not in EUR? I know that some of my competitors are using Payoneer to pay partners/suppliers but I think the fees are pretty high.

 

[void]

from my experience for legit business and various currencies wise is the best option to receive many payments up to 4 figures
then immediately transfer the funds to multiple accounts in your name (in the name of your company) in banks

and of course convert to bitcoin everything you don't need in fiat for operating your business...

 

[JohnnyDoe]

Don’t forget to offer your customers a 5% discount (or more) if paying by btc

 

[Sols]

Should I bank with a large bank (Société Générale) and also get Revolut/Wise to process most payments that are not in EUR?

Yes, that's a good way to do it. If you can justify it, go for two traditional banks and both Revolut and Wise. This gives you redundancy in case of loss and, if you have a lot of USD to convert, you can compare all four and convert wherever you get the best rates.

Just make sure that whatever your company does is in line with their acceptance policies, and be prepared to answer routine questions about transactions by always having invoices, agreements, and such in order.

 

[Forester]

Don’t forget to offer your customers a 5% discount (or more) if paying by btc

You did not open a fire against Wise? OK, I will

I am starting a company in France and most of my clients will be paying me in EUR or USD. My partners/suppliers will require payment in USD/EUR and a lot of other local currencies.

Should I bank with a large bank (Société Générale) and also get Revolut/Wise to process most payments that are not in EUR? I know that some of my competitors are using Payoneer to pay partners/suppliers but I think the fees are pretty high.

I agree with @Sols that e.g. going with two traditional banks and two EMI's is a good strategy, in general. Nevertheless, the selection of particular institutions is to be done really carefully. An important factor is, what business are you in – can you share?
Just generally:
– I do not think that Société Générale is an excellent bank, there are definitely better large banks;
– I strongly do not think that Revolut or Wise are the best options among fintechs, at least not for a business use (I personally recommend to avoid, I wrote here many times, why);
– Payoneer is IMO really quite expensive, furthermore not extremely reliable/safe.

 

[thomasparra]

You did not open a fire against Wise? OK, I will

I agree with @Sols that e.g. going with two traditional banks and two EMI's is a good strategy, in general. Nevertheless, the selection of particular institutions is to be done really carefully. An important factor is, what business are you in – can you share?
Just generally:
– I do not think that Société Générale is an excellent bank, there are definitely better large banks;
– I strongly do not think that Revolut or Wise are the best options among fintechs, at least not for a business use (I personally recommend to avoid, I wrote here many times, why);
– Payoneer is IMO really quite expensive, furthermore not extremely reliable/safe.

This is a legitimate business, involving B2B clients and individuals as consultants/services suppliers

Would you recommend other banks? I don't have a preference over any high street banks or digital ones. On the EMI side, Payoneer is super expensive, but I am not sure if there are any better options.

 

[Forester]

This is a legitimate business,

I presume

involving B2B clients and individuals as consultants/services suppliers

OK; nevertheless, to be able to give some well-founded recommendation for banking, it needs to be elaborated a little bit more. I'll send you a PM, for the case you do not want to share it publicly.

Would you recommend other banks? I don't have a preference over any high street banks or digital ones.

OK

On the EMI side, Payoneer is super expensive, but I am not sure if there are any better options.

Definitely yes but it really depends on your business – some EMI's like some particular businesses more than the other ones. (And it also depends on turnover, BTW.)