Companies active internationally will strive to make the receipt of payment from customers and the transfer of payment to suppliers easier organizationally. As such, they will be interested in opening an account as close as possible to customers and suppliers for faster and cheaper fund transfers.
Many European banks are considered advanced and reliable, and attract hi-tech entrepreneurs to open bank accounts with them. There are also banks who, due to regulations, are unable to open accounts with Israeli companies and will require a European company to do so. When working with banks in Europe, transparency and reliability are the name of the game. One must always be honest and direct regarding the company’s activities and owners, and follow compliance rules. The bank, in turn, will be able to provide the best service and most convenient fees. An understanding of the European financial system and the banks themselves from up close is a must in order to open accounts in the good banks – and not with 15% fees, but with reasonable and acceptable fees in accordance with the company’s line of work.