International bank account

Since many international companies are registered as holding companies, the associated bank account is used differently than an operating business bank account.

An international bank account is slightly different than a traditional bank account. The bank account does not have to be in the same jurisdiction as your holding company, and is not normally intended for daily incoming/outgoing transactions as it is most often used in conjunction with an international holding company. Some banks do not use SWIFT/IBAN system, so any amount transferred to your account goes through a correspondence bank that handles the transaction on behalf of the international bank.

This kind of transaction usually doesn’t cause any issues, but requires some additional documentation in the form of an invoice as well as some transactional documents. Due to this, it’s better to just transfer larger sums, fewer times a year.

An international bank account is generally issued with a MasterCard or a Visa Debit card, accepted worldwide.