Best business bank account for importers
What to look for, a checklist you can use on any provider, and how the main providers compare on published fees.
- Hold the currencies suppliers invoice in, usually USD and EUR, so you are not converting on the day a payment is due.
- Check the SWIFT fee, the conversion fee and the fee to receive. Those three decide what the account costs an importer.
- Suppliers in China and Southeast Asia increasingly settle in USDT or USDC; an account that supports digital dollars removes a separate provider.
- Supplier finance closes the gap between paying the deposit and selling the goods. The cost should be in writing before you accept.
- With one document list, a Helm account is usually live within days.
What an importer needs from a business account
An importer's money moves in one direction most of the time: out, to suppliers, in the currency on the invoice. Most Asian factories invoice in USD. Suppliers in Türkiye and Europe often invoice in EUR. A deposit of 30% leaves before production starts and the balance of 70% leaves before the goods ship. The account has to do four things well.
- Hold USD and EUR balances so you are not converting on the day a supplier must be paid.
- Send by SWIFT to any supplier bank account, with the fee and arrival date shown before you approve.
- Pay suppliers who prefer digital dollars, in USDT or USDC, including at weekends.
- Finance the gap between paying the supplier and selling the goods.
The checklist
Use the same list for every provider you consider.
| What to check | Why it matters | What to look for |
|---|---|---|
| Account details in your company's name | Buyers and marketplaces pay the name on the invoice; a payment to a provider's name gets queried | USD routing and account number, EUR IBAN, GBP sort code, all under your registered name |
| Local receiving rails | A domestic payment for the buyer costs them nothing and arrives faster | ACH in the US, SEPA in Europe, Faster Payments in the UK |
| Fee to receive | Receiving fees on every invoice add up across a year | Free on local rails; a fixed fee, not a percentage, on wires |
| Conversion fee | The largest cost for most traders is the spread on conversion | A stated percentage above the mid-market rate, shown before you confirm |
| SWIFT fee | Supplier payments outside local rails travel by SWIFT | A fixed fee per payment, with the arrival date shown first |
| Digital dollars | Suppliers and buyers in some markets settle in USDT or USDC | USDC and USDT supported, with conversion inside the account |
| Trade finance | Deposits and balances fall due before the goods sell | Supplier finance and receivables finance arranged around orders |
| Named account manager | Reviews and holds are resolved faster with a person who knows your trade | A named person reachable by phone, email and WhatsApp |
| Opening time | A new buyer or supplier will not wait a month | Days, with one document list |
How the main providers compare
Figures are taken from each provider's published pricing page on the review date. Where a page does not state a fee, the table says so.
| Provider | Account currencies with local details | Fee to receive by SWIFT | Conversion fee | Digital dollars | Trade finance | Published on |
|---|---|---|---|---|---|---|
| Helm | USD, EUR, GBP | Agreed with your account manager | Agreed with your account manager | USDC and USDT | Yes | helm.business |
| Wise Business | 9 currencies with local details, 22 to receive | 6.11 USD (USD); 2.16 GBP; 2.39 EUR | From 0.23%, varies by currency | Not offered | Not offered | wise.com/us/pricing/business |
| Airwallex | 20+ currencies | Not stated on the pricing page | 0.5% majors, 1.0% others | Not offered on the business account | Not offered | airwallex.com/us/pricing |
| Payoneer | Local receiving accounts in several currencies | Not stated on the fees page | 0.5% between balances; withdrawals 1.2% to 4% | Not offered | Working capital for marketplace sellers | payoneer.com/about/fees |
| WorldFirst | 20+ local receiving currencies | Free to receive | 0.30% to 0.50% for major currencies | Not offered | Not offered | worldfirst.com/uk/pricing |
| Statrys | 11 currencies, Hong Kong based | HKD 60 | From 0.1% majors | Not offered | Not offered | statrys.com/pricing |
Detailed comparisons: Helm and Payoneer, Helm and Wise Business, Helm and Airwallex, Helm and WorldFirst, Helm and Statrys.
Which rail to pay a supplier on
The rail decides the cost and the arrival date. SWIFT reaches any bank account in the world in one to three business days. USDT and USDC reach a supplier's wallet in minutes, seven days a week. The guide to SWIFT, ACH and Fedwire explains the bank rails in detail, and the guide to paying suppliers in China covers the most common corridor.
| Supplier is in | Usual invoice currency | Rail | Arrives |
|---|---|---|---|
| China, Hong Kong | USD | SWIFT, or USDT on Tron | 1 to 3 business days by SWIFT; minutes in USDT |
| Vietnam, India, Bangladesh | USD | SWIFT | 1 to 3 business days |
| Türkiye | EUR or USD | SWIFT | 1 to 2 business days |
| Germany, Italy, Spain | EUR | SEPA | Same or next business day |
| United States | USD | ACH or Fedwire | Same or next business day |
Financing the order
The deposit and the balance fall due before the goods have sold. Supplier finance covers that gap: the provider pays the supplier's invoice and the importer repays on a fixed date, usually 30, 60 or 90 days later. The cost should be stated in full, in writing, before the importer accepts. Helm offers supplier finance, working capital and receivables finance, arranged around each order; see Trade Finance.
Opening the account
Expect one document list: certificate of incorporation, register of directors and owners, identity and address for each of them, a recent bank statement and two or three invoices or contracts that show the trade. With the list complete, Helm accounts are usually live within days. The Eligibility page sets out the list and the timings. The importers page shows how the account is used day to day.
Open a Helm account
USD, EUR and GBP accounts in your company's name, international payments on bank rails and in digital dollars, and trade finance. A named account manager from the first call.
Open accountQuestions
Which currency should an importer hold?
The currencies suppliers invoice in. For most importers that is USD first, then EUR. Holding the currency avoids converting on the day a payment is due.
Can I pay a Chinese supplier in USDT from a business account?
Yes, from a business account that supports digital dollars. Helm sends USDT on Tron and Ethereum, and USDC on Solana and Ethereum, to the supplier's wallet, with the network fee shown before you send.
What does a SWIFT payment cost?
A fixed fee per payment on most business accounts: Airwallex publishes 15 to 25 USD. Some providers charge a percentage instead; check which. Helm agrees fees with each client before the account opens.
How long does it take to open an importer's business account?
Days at Helm, once the document list is complete. Timings vary by provider and by how complete the documents are on the first submission.
Is a USD account in my company's name available outside the United States?
Yes. Helm, Wise Business, Airwallex, Payoneer and WorldFirst all provide USD account details to companies registered outside the United States, subject to each provider's eligibility rules.
References
- Federal Reserve: Fedwire Funds Service
- Nacha: What is ACH?
- Swift: Cross-border payments
- European Central Bank: SEPA
- Circle: USDC
- Tether: Transparency
This guide is general information for businesses, not financial, legal or tax advice. Fees and timings quoted for other providers are taken from their published pages on the review date and may change.