01 / PRACTICAL PRODUCT DETAILS
When an IBAN and SEPA Account Is Convenient for UK Ltd
If buyers pay invoices in EUR, European account details and SEPA make daily payments easier. Such an account is convenient for services, e-commerce, IT, agency business and trade when most payments are made within Europe.
If the company needs PLN, CZK or another local currency, it is worth comparing the EMI with a traditional bank in the relevant country. For a UK Ltd this is ordinary practice: one account can handle EUR/SEPA, while a second handles local payments or another currency.
Before selecting an account, the currencies, buyer and supplier countries, average payment and number of transfers are defined. This makes it possible to compare incoming and outgoing payment costs, currency exchange and online banking.
For a new UK Ltd, you can start with EUR/IBAN and then add a traditional bank for PLN, CZK, CHF, SGD or another required currency.