Holvi adds support for IBANs to help transform banking for European SMEs

Holvi launched its online banking platform for small businesses in Europe back in August, and now the Finnish startup has announced it supports International Bank Account Numbers (IBANs), which sees it edge neatly into the traditional banking setup to broaden its appeal.

To recap, Holvi bank accounts are free to open and have no set monthly charges, though there is a €0.90 fee for incoming/outgoing transactions and a 3 percent fee for credit card payments. However, Holvi offers a range of add-on services aimed squarely at SMEs and the self-employed.

For example, you can get a real-time view of your company finances, and manage your expenses and invoices. There is also a built-in online store feature for selling goods.

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Holvi is still officially in invite-only pilot mode, but it’s ultimately looking to “remove the borders in European banking for small business owners, freelancers, and entrepreneurs.”

Holvi is authorised by Finland’s Financial Supervisory Authority (FSA), which allows it to operate across Europe, though it has always sold itself as being independent of the traditional banking fraternity. But through supporting IBANs, it’s looking to broaden the appeal to startups with international scope.

For the uninitiated, IBANs are basically a cross-border system for identifying bank accounts, helping to ensure international transactions run smoothly.

“We are offering anyone in Europe a chance to get a Holvi account, including an international bank account number in minutes, enabling you to use Holvi as both a business platform and as a bank account,” says Holvi CEO Johan Lorenzen. “This is a breakthrough for the banking industry and yet another stride forward for Holvi to replace the traditional banks that are still stuck in the 1990s.”

If you’re looking to get in on the Holvi action, you can request an invite now in 19 countries across Europe.

➤ Holvi

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