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Top 5 main reasons why banks shut down or reject business accounts

At 3S Money we deal with a multitude of entirely clients who struggle to work with high street banks for numerous different reasons. In the article below we have outlined the five most significant of these reasons so that you know what potential blockers might stand in the way of businesses (perhaps even your own):

There are several other blockers that may also stand in the way of companies looking to open bank accounts and generally medium-sized enterprises are underserved traditional banking institutions. As mentioned in the article, this is of especial significance at this present juncture in time with great uncertainty for banks and businesses. 

These issues with bank accounts are frustrating and cause great economic cost – at 3S Money, our aim is to work with companies facing blockers like those mentioned and help them to execute their banking and trading needs without hassle. We provide B2B banking services that enable entrepreneurs with global ambitions to make cross-border payments with maximum efficiency:

  3S Money Traditional banks Payment platforms
Personal manager that understands your business
100% online account opening
Available for non-EU residents
Coverage around the world Accept funds
pay everywhere
Limited to EU
Compliance response time Under 20
Up to 5 days Endless
Average FX commission 0.6% 3% 1-2%
High-value transfers
Real-time business
payments in 10 currencies

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