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Good old bank or trendy payment platform?

Do you remember 2018?

We remember it as the year of the rise of payment platforms, where they literally sprang up like mushrooms!

In stark contrast to 2018, where many businesses did not know whether they would still have a company bank account due to drastic changes in bank anti-money laundering policies. It was a year of uncertainty for many businesses.

2019-2020 was the year of rapid development of many payment platforms, with multi-currency accounts and debit cards suddenly widely available. Remote and online account opening could be done thanks to new technology platforms, which provided the necessary Know-Your-Customer (KYC) procedures.

While 2019 brought a lot of players to the payments field and often with a similar direction, 2022 has shown the strongest players come to light, with a steadying focus of their position in a specific sector.

With so many banks and payment platforms in the market, what is the best choice for my business? Which ones are safest? IBCC managers are happy to share their experience and expert knowledge on banking and secure payment platform options for your business profile.

Now that we have the luxury of choice, it’s often very hard to make a decision between so many options. In a world of too much information, we can give you guidelines on what to consider when choosing between a bank and payment platform.


In general, banking is a good option if you seek stability and do not have a high risk business.

Should you aim for a bank account, remote account opening is quite limited. While many banks require your presence to open an account, often it is possible to do it via our network of local representatives. Specify the country of your interest and find out if we have one!

The waiting time for opening an account depends on your profile: whether your company is located within or outside of Europe, who is the beneficiary of your business and their residence country and of course, your business activity.


  • so-called Deposit Guarantee Funds, which can guarantee deposits up to 100,000 EUR
  • cash operations
  • wide range of extra services, like saving and investing accounts, mortgages, Letter of Credit facilities
  • possibility of one-one-one meeting with a bank representative


  • long waiting time to open a bank account – it might take from 2 to 6 months depending on the country
  • many restrictions for non-residents for opening a bank account
  • most often, you can’t open a bank account remotely
  • banks may require confirmation and evidence that the business exists in the country of registration
  • often require apostilled corporate documents and translations (additional expense)

Don’t put off bank accounts altogether! Contact us to find out more about the best bank account option for your company.

Payment Platform

Payment platform may be a good solution if you own a one man trading company or you export your goods or services all over the world. You can open an account in any payment system from wherever you want. All you need is an internet connection and your passport or ID card.


  • simple identification process through video communication and photocopies of documents
  • lower fees compared to banks, especially with currency exchange
  • account availability for offshore companies
  • credit card processing
  • electronic client invoicing
  • simple re-identification process for the new owner of sold company’s account
  • ultra fast operations via mobile and/or desktop application


  • great number of payment platforms – hard to choose one
  • limited services: you can’t use your account for deposits

Contact IBCC via info@ibcc.info to find out more about our portfolio of EU and Asian payment platforms available for our clients. Our specialists are here to help you select the right one for your company’s activity or business profile!

Find out more about our special remote company set up and payment account packages too!