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PayDo IBAN benefits and how to get it
IBAN stands for International Bank Account Number attached to all accounts in the EU countries plus Norway, Switzerland, Liechtenstein.
The IBAN consists of a code that identifies the country the account belongs to, the account holder’s bank and the account number itself. IBAN simplifies and improves the processing speed of international payments.
Benefits of IBAN PayDo accounts:
- PayDo IBAN (International Bank Account Number) account is an alternative to traditional bank accounts, providing increased efficiency and a digital approach to banking.
- You can open, manage and run an IBAN remotely from the EU, EEA or any foreign country.
- PayDo IBAN accounts provide individuals and entities with all the benefits of a European bank account, without setting up a European entity.
- A fully digital solution provides simpler funds management and lowers fees.
Through a PayDo account, individual and business customers can receive and send money, keep funds and exchange currencies.
If the currency is not supported by PayDo, the payment amount will be converted into the available currency at the rate of the issuing bank.
How to get IBAN PayDo requisites?
An application for obtaining IBAN details is submitted after the client’s request for account verification. The client fills in a short form in which they indicate information about their activities or the activities of the company (depending on the type of account) and specify the location of counterparties (incoming and outgoing transfers).