In this new short guide, I will show you how to open a virtual Euro Bank account with a Debit card for non-European residents (overseas) without visiting any European country!
With current major incidents such as Brexit (Britain exiting from European Union) and Coronavirus, it is critical to have a Euro bank account for non-European residents, particularly if your business or career is dependent on any European country that deal with Euro currency.
So, without further ado, let’s find out how to open a virtual Euro bank account with a debit card online for free!
How to Open Euro Bank Account Online for Non-European Residents
Here are my Euro Bank account details. I am from Sri Lanka (an Asian country), and I can use my European bank account details to receive Euro money from any European local bank (SEPA).
My Euro bank account is from Wirecard Bank AG, which is located in Germany, as you see from the above screenshot, and I could send those details to my clients in Europe to send me money so that I can receive them instantly and also withdraw in my local ATM which supports MasterCard at any time.
Here are the steps to opening a virtual bank account for non-European citizens.
Not many services will offer a free Euro bank account for personal usage. I was able to get one because I am a full-time internet marketer.
Therefore, if you want to ensure you’d get access to a free Euro virtual bank account, you should apply as a business entity or marketer such as a freelancer, trader, etc.
If you followed the steps correctly, I am sure you will have not only a Euro bank account but also other virtual bank accounts for countries such as the USA (USD), Japan (Yen), China (Yuan), and Britain (GBP). (If you are doing lots of international businesses such as trading and drop shipping, this will be highly useful for you too!)
Become a marketer
If you already have a business, you can avoid this step. But, if you don’t have one, then follow these steps.
There are lots of ways to become an internet marketer. Having a blog (becoming a blogger), becoming a promotional partner for one or several companies (aka affiliate marketer), Running a YouTube channel (becoming a vlogger), and providing online services for clients (aka freelancer) are some of those popular ones.
But, to save you time, I will list what worked for most people and what might work for you.
Set up your online store for free
A surefire way to get your application approved is to become an online store owner.
Click here to visit Shopify and create your free online store for 90 days. (No credit card required)
Create your email list for free
Now you have an online store. But how do you capture your potential customers?
The best way is to build your email list! Click here to sign up for Aweber for free. (Aweber is a popular email marketing service that integrates with your Shopify store.)
If you want to add beautiful popups, quizzes, and easter egg widgets to your site, I recommend giving Convertful a try.
Becoming an affiliate partner
To get a virtual EU bank account, you should provide as many details as possible to entice that you are a marketer. So, becoming an affiliate partner for some companies (European or not) will be helpful.
Click the links below and sign up on each network for free.
- Clickfunnels Affiliate — Promote digital marketing products such as eBooks, software, and SaaS applications provided by Clickfunnels.
- TradeTracker — Affiliate marketplace filled with lots of European products and services such as Aliexpress.
- ShareASale — Affiliate marketplace for shopping and other products. Learn more in my review here.
Note: If you want to drive traffic to your store via search engines, I recommend using a robust tool like Semrush. It’s one of the best tools out there, with 40+ tools. Read my unbiased review of Semrush here.
The next step is to apply.
Click here and sign up on Payoneer.
Fill out the application carefully. Do not misspell or fake any detail.
Once you have gone through the process and successfully your application is approved, you will be asked if you want to apply for the Payoneer Global Payment Service, which we will use to create a virtual EU bank account.
In this step, you will have to explain your online store, the affiliate programs you are promoting, and why you want to apply for a Global payment service. Once your application is approved for the US Payment service, you are also eligible for an EU payment service account in which you will receive a virtual EU bank account.
I have written an article on how to open a virtual US bank account. If you need further help on this step, I recommend you check it out.
Once your application is approved, you will see your EU bank account details in your Payoneer account’s Global Payment service section.
Once someone sends you Euro money through the Euro receiving bank account, the funds will be deposited on your Payoneer account under the EU receiving bank section. But, you cannot withdraw them with your Payoneer US MasterCard, which is for USD currently only.
After you receive the EU MasterCard for the EURO currency, you can withdraw that money instantly from anywhere in the world.
Visit this page once you log in, tick the boxes as shown below, and click the “Order” button to receive your free EU MasterCard.
Activate your EU debit MasterCard from your Payoneer dashboard by applying a secret four-digit code that you received via postal mail.
Euro to USD
This unique feature will be beneficial in some cases, such as converting EURO to USD currency and transferring EURO money to USD money.
Euro to GBP
Similar to Euro to USD transfer, also you can transfer Euro to sterling pound.
If you are a UK citizen and want to transfer your Euro balance to GBP, this feature will be helpful. Learn more about the currency transfer feature in Payoneer over here.
Final words on Opening a Virtual EU Bank Account
Regarding the current geopolitics hemisphere and the situation we are in, having access to local banks where you are dealing is essential. If you are British, having an EU bank account is more important than ever!
In this short guide, I talked about and showed you how to open an EU virtual bank account online for free for non-European residents.
Do you have any questions which are related to this topic? Please drop them below. I will help you as much as possible I can.
FAQs on Euro Bank Account
How to Transfer Euros from a UK bank account?
Deposit your money (Euro on UK bank) to your Payoneer account using your EU receiving bank account details. Once the money is deposited, you can transfer them into another currency, such as Sterling Pound.
How to transfer euros to an Indian bank account?
Deposit EURO in your Payoneer account first. Secondly, convert Euro to USD in your Payoneer Currency Transfer section and deposit USD money to your Indian bank account.
Can I open a Euro bank account in the UK?
Yes, sign up on Payoneer and apply for the Global Payment service. Once approved, you will receive an EU receiving checking account for free.