Digital banking providers offer businesses flexibility and convenience, plus access to features and benefits that traditional banks don’t offer. From multi-currency accounts with low FX fees to built-in accounts payable and accounting features, online banking services can save your business time and money.
This article covers some of the best digital banks and banking service providers for businesses. Plus, you’ll learn:
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The information about all the platforms discussed in this article was collected between 12 April 2024 and 15 April 2024. This article was written and approved by Juni and is intended as marketing material.
Digital banks, also known as online banks, represent a modern approach to banking that operates without traditional physical branch networks.
These banking providers offer services exclusively over the internet, providing customers with fast, efficient and accessible financial management tools directly from their computers or phones.
With digital banking solutions, all your financial data is available to you 24/7, right at your fingertips. In addition to the convenience of online banking, other advantages of using a digital bank for your business banking needs include:
To ensure you choose the right solution, assess the specific banking services your business requires. Do you have a lot of international transactions? Or are you more focused on payroll and domestic payments? Determining your core financial activity will guide you in choosing a bank with the right features.
Additionally, consider where your business is in its growth trajectory. Startups might value flexibility and scalability, while established businesses might prioritise advanced financial analytics and loan options.
Check if the digital bank integrates smoothly with your existing business software, such as accounting tools, HR systems and other financial management platforms—integrations can dramatically reduce administrative overhead and improve accuracy in financial reporting.
The digital banking solution you choose should connect with whatever platforms are most relevant to your business. So if you operate in digital commerce, that may mean integrating with storefronts and payment gateways.
Understand the fee structure for transactions, especially the ones most common in your business operations. Some digital banks offer lower fees for certain types of transactions, like domestic transfers, which can be cost-effective in the long run. Along those lines, pay attention to FX and international currency fees.
So look for digital banks that offer fee structures favourable to your business’s financial activity levels. Some banks offer tiered pricing or waive fees entirely based on account balances or the number of transactions.
Good customer support is critical—you don’t want to be left figuring out an urgent payment or transaction issue all by yourself. Reading user reviews can give insight into how responsive and helpful the bank is in resolving issues.
Juni isn’t a bank, but rather a financial service provider designed specifically for ecommerce businesses. The Swedish company’s co-founders come from an ecommerce background, which is why all of Juni’s offerings and features are tailored to the unique needs of companies operating in digital commerce.
Juni offers multi-currency business accounts, as well as virtual Juni Mastercard® Corporate cards in USD, SEK, EUR and GBP. With these cards, you get access to up to 1% cashback on eligible debit spend, with no caps, plus flexible financing options of up to €2 million (with up to 60 days to pay).
You can create multiple cards and assign them to specific employees or suppliers, helping you control and monitor your spend. Plus, transparent and capped FX fees mean you don’t leave cash behind when sending and receiving cross-border payments.
The platform comes with many other features that simplify your banking and financial processes, like accounts payable tools, accounting automations and integrations with storefronts and ad networks, like Meta and Google Ads.
Revolut is a fintech company with a designated business finance platform. The neobank supports over 25 currencies and transactions with 100 countries, and you get access to customisable multi-currency accounts when you sign up. You can also sign up for a Revolut savings account, which offers up to 3.51% AER.
When you open a business account with Revolut, you also get access to virtual and physical business debit cards that you can set customisable limits on and authorise where employees can and can’t use them.
Monzo is a fully regulated UK-based online bank that gives you free instant domestic transfers, access to virtual cards and business loan opportunities. With Monzo Business Pro, you can authorise account access for up to two additional users.
Monzo offers Pots, which you can set up to reserve funds for taxes, savings or other categories, helping you automate your financial processes. You can also send payment links and invoices directly from Monzo and pay in over 40 currencies, including euros.
Wise is a UK-based fintech company that specialises in cross-border transactions. Wise Business is available to a variety of business types, including sole traders and limited companies. The platform lets you transfer and receive money across the world, supporting payments from over 70 countries. Plus, you can store funds in over 40 currencies in your Wise account.
You also get access to debit cards with low conversion fees and 0.5% cashback on spend. You can order multiple cards for your team members—these just come with a one-time cost (your first card is free).
Starling Bank is an online British bank that offers business accounts for sole traders, limited companies and other registered businesses. You have the option to sign up for multi-currency accounts that support EUR and USD (in addition to GBP), though as of writing, the website states that they aren’t currently accepting new applications for these accounts.
With Starling, you can access a Mastercard debit card that connects to your banking app with features like digital receipts and spend analytics. This account also gives you the option to sign up for Starling’s Business Toolkit, which helps you automate invoices and expenses.
Digital banks are just as reliable as brick-and-mortar banks, and they often come with some additional features and benefits you don't usually get from traditional banks.
Just remember that when choosing a banking provider, you should focus on what your business specifically needs. Whether you’re a solopreneur or already have an established company, which account is right for you will depend on whether its features and functionalities align with your needs.
Juni, for example, is designed specifically for businesses that operate in digital commerce, offering features that help ecommerce businesses simplify financial admin, effectively manage cash flow and invest in growth. Get started with Juni today.
*Juni Capital for cards is available for companies registered in UK, NL, SE, DE, FR, ES, IT, NO and FI, upon eligibility. Juni Capital for invoices is available for companies registered in SE, DE, NL, FR, ES, IT, NO and FI, upon eligibility. Fees, terms and conditions apply. Click here for more details.
The best digital banking option for your business will depend on various factors, such as what industry you operate in, where your business is registered and how large your company is. For example, if you operate in digital commerce, you’ll want to look for banks with ecommerce business account options.
Opening an online bank account is typically a straightforward process:
Juni is not a bank – yet. We’re a financial technology company providing e-money services and as such are not part of a deposit guarantee scheme. Learn more about our license and how we keep your business and money safe.
Juni Technology AB (company number 559248-0908) is licensed and registered as an electronic money institution with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) (license no: 64025). Payment Card Solutions (UK) Limited (company number 05941947) and UAB B4B Payments Europe (company number 305539054) are regulated by the Financial Conduct Authority (ref: 930619) and the Bank of Lithuania (licence no: 76), respectively. The Juni Mastercard Corporate Card is issued by Payment Card Solutions (UK) Limited and UAB B4B Payments Europe pursuant to a license by Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Juni Technology AB. Masthamnsgatan 21, 413 28 Göteborg, Sweden. © 2025 Juni. All Rights Reserved.
