The Best Digital Banks for eCommerce in 2024

By James LePage
 on June 14, 2022

The Best Digital Banks for eCommerce in 2024

By James LePage
 on June 14, 2022

Running an online store is a great way to maximize your company's reach and ability to generate sales. If you have an eCommerce storefront for your business, choosing the right bank to help manage and process transactions and your finances can make all of the difference. A digital banking app or platform can help provide valuable insight into how your business is being run and how finances are being managed, which can assist in streamlining your work goals and business model in the future.

Finding the best digital banks for eCommerce in 2024 is a way to streamline the management of any online storefront.  

The Best Digital Banks for eCommerce in 2024 

We know how important it is to find a suitable digital bank anytime you are selling online, processing transactions, or working in a digital position in any capacity. We have searched high and low across the internet to find the best digital banks for eCommerce in 2024 so you can begin selling with ease and with peace of mind as quickly as possible. 

1. Payoneer

Payoneer is quickly becoming a leading financial payment processing company that is based out of New York. With Payoneer, users are able to request and receive a virtual bank account number to help with completing transactions, receiving funds, or even making payments. Using Payoneer is becoming increasingly popular with many companies and merchants today. Payoneer works with a variety of eCommerce marketplaces that include eBay, Rakuten, and even Amazon.


Currently, Payoneer is available in more than 150 countries worldwide. For those interested in using Payoneer for their own business or personal transactions, you can obtain a local bank account number if you are in the US, the UK, Japan, the EU, Canada, Singapore, Mexico, or Australia. Currently, the following currencies are accepted and supported by Payoneer: USD, JPY, CAD, GPB, EUR, AUD, and CNH.


  • Free to open a Payoneer account
  • Payments received from another Payoneer account are free of fees
  • Credit card payments require a 3% fee
  • Transfers to local accounts in USD will require a fee between 0-1% in total, depending on the origin country as well as the bank account being used.
  • Withdrawal fees are typically $1.50 or up to 2% above the market exchange rate, depending on where you are making a transaction and to which country 

2. N26


N26 recently closed down US operations. However, for non-US readers, this is still a great choice.

N26, a German-based digital bank, is available in various languages, including English, Spanish, French, and Italian. Founded in 2013, N26's purpose was to fulfill the demand of freelancers to easily manage invoices, make payments, and handle a variety of currencies from any location while working remotely. If you are a freelancer or if you work with various clients from all around the world, working with N26 can help to streamline the management of your finances as well as various currencies that are used to render your products or services. 


All N26 accounts are free to open and use, including business accounts with N26. There are currently no management or foreign transaction fees required of users of N26, making it one of the most appealing digital banks for individuals and freelancers alike from around the world today.


  • N26's website is available in German, English, Spanish, French, and Italian
  • Optimal for freelancers and individuals who need to manage business payments, make payments without fees, and handle a variety of currencies from one central location
  • Available in the following countries and regions in the Eurozone: Poland, Norway, Switzerland, Sweden, Iceland, and Liechtenstein. 
  • Free: All accounts opened with N26 are free of charge, including Business accounts.
  • Currently, all N26 accounts use European currencies. If you need to make international transfers, you may need to connect your N26 account to your Wise account (if applicable) in order to process and complete international wire transfers and/or exchanges. 

3. Wise 

Wise is another electronic money transferring service as opposed to a bank, similar to Payoneer. With Wise, it is possible for those to send, receive, and even convert a variety of currencies with little to no fees, depending on where they are located and the type of currency that is being converted and/or used. Users who have an account with Wise will be unable to earn interest on their balances, as Wise does not operate as a traditional or standard bank. However, it is possible to pay employees, pay invoices, and even manage payments using various currencies with ease.


While it is possible to register for a free account from Wise, a professional Business account from Wise will only cost a one-time fee of $31 in order to gain access to all of the features Wise has to offer. 


  • Ideal for global eCommerce business owners
  • Send, receive, and convert currencies using low market exchange rates and fees in place
  • Open a Wise Business account to receive your own account number, routing number, sort code, debit card, and IBAN without being required to open and maintain a traditional bank account 
  • Pay invoices and take care of payroll via Wise without having an official bank account
  • Move money between multiple Wise accounts without a high currency conversion fee (or withdrawal fees, depending on the currency you are working with and exchanging into)  
  • Available in many countries around the world such as the USA, UK, EU, Australia, Singapore, New Zealand, Hungary, and even Romania
  • Currency wallets are currently available in more than 55 currencies in total
  • It is free to use Wise when getting started and to complete traditional currency transfers 

4. Novo

Novo is an online banking solution that is ideal for those running an eCommerce store as well as freelancers working remotely and around the world. Setting up a Novo account is free to do and does not require any monthly fees in order to get started. If you're looking for an online-only banking solution that allows you to manage invoices, make payments, transfer funds, and even scan checks, you can do it all with a Novo account.


One of the most appealing aspects of using Novo is the ability to do so from your mobile smartphone. All of Novo is based on mobile devices with its own application. Using the Novo app, manage and oversee finances, submit payments, and keep track of invoices with just a few clicks.  

Novo accounts are free to set up and also include free incoming and outgoing ACH transfers, which can be ideal for those who are working remotely or for those who are frequently paid via ACH transfers.  A variety of integrations are also available with Novo, making it one of the most convenient choices for freelancers and independent business owners on this list. 


  • Free to get started
  • Only requires a few minutes to create an account with Novo
  • No monthly fees are charged or incurred
  • Free incoming and outgoing ACH transfers are included
  • Free domestic and foreign wires are included
  • Free mailed bank checks
  • Compatible integrations include Quickbooks and Xero, making it easier than ever to manage finances and bookkeeping even when you are doing so independently and remotely 
  • Compatible with eCommerce solutions such as Zapier and Shopify for automation solutions
  • Includes a mobile app to work from and to process and complete all payments 

5. Chime

Chime is a well-known digital banking solution that originated out of San Francisco. Today, Chime serves more than 12 million customers worldwide who use its digital banking services for a variety of reasons. Contrary to traditional banking institutions which profit off of loans, interest rates, fees, and penalties, Chime profits by having their customers use their own debit and credit cards in everyday activities.


Opening a Chime account is free of charge and does not require a minimum deposit to get started. There are also no international transaction fees, even if you are not based in the US when starting your account. Once you have a Chime account, you will also be provided with your very own Chime debit card (Visa), which can be used just about anywhere Visa cards are also accepted. With the Chime mobile app, you can keep track of your accounts and monitor your finances from one central location.


  • Free and easy to use. Set up an account with Chime in just a few minutes.
  • Chime mobile app included. Chime's mobile app is available for all users to manage their accounts, oversee their finances, and even send money instantly.
  • No fees to get started with Chime, even if you are based internationally. 
  • Zero investment to get started. No minimum balance to keep your Chime account open and active at all times. 
  • Send money instantly and track finances using the Chime app within seconds.
  • Instant transaction alerts to keep track of potential fraudulent spending attempts 
  • Daily balance update to keep you informed of your spending and current financial health 

6. Revolut

For a UK-based digital bank, Revolut is one that is well-known as trusted, as it has been in operation since 2015. Revolut allows individuals to receive card payments while also having the ability to hold or exchange the funds in up to 28 different currencies. Additionally, Revolut has also been easily integrated into various bookkeeping resources, such as Slack, Quickbooks, and Xero. It is also possible to use an array of Revolut plugins if you are working with an eCommerce store using WooCommerce, Magento, or even Prestashop, making it easier than ever to manage payments, gateways, and your digital banking preferences. 


Revolut business accounts are free to obtain and do include many features, although they may be limited. It is also important to note that all free accounts are charged a minimum of a $3 fee for each payment that is accepted and processed internationally. For a paid account with Revolut, services begin at $25 per month.


  • Exchange funds in over 28 currencies
  • Make payments in more than 150 currencies
  • Integrate Revolut with other apps such as Quickbooks, Xero, and Slack
  • Compatible with WooCommerce, Magento, and Prestashop
  • Available for sole traders and business owners registered in the USA, UK, EEA, or Switzerland
  • Merchants can accept funds in: USD, GPB, EUR, CAD, CHG, AUD, JPY, ZAR, PLN, DKK, SEK, HKD, NZD, NOK, and PLN.

7. Bunq

For those living in Europe who are seeking a mobile-based bank without limitations, Bunq may be just what you need. Bunq was designed and developed in the Netherlands with digital nomads in mind. Bunq is a paperless bank account that does not require users to provide or obtain a tax number in order to open and use their account(s). With Bunq, users have the ability to take advantage of traditional banking features while also working in various countries throughout the EU without a problem. 


Currently, Bunq is available in all EU countries, making it one of the most accessible and appealing banking options for digital freelancers and nomads alike. If you are interested in opening a business account with Bunq, however, you will need to have a business registered in one of the following countries: Austria, Germany, France, Belgium, Ireland, Poland, Spain, Italy, Portugal, or the Netherlands. If you choose to open a business account with Bunq, you will also need to be a permanent resident of the registered country you choose for your business.


  • Currently only offers EUR accounts (although it is still possible to make payments using foreign currency on-demand)
  • Bunq currently offers 3 account types 
  • Business accounts with Bunq start at $2.99 per month
  • A 2.5% transaction fee and a flat fee of $0.20 is required to receive debit and credit card payments when processing payments using Bunq
  • Money transfers in Euro are completed free of charge 


The use of digital banking can open up plenty of new opportunities when it comes to accepting a variety of payment methods, processing sales, and even reaching a wider audience. With the right digital bank for your eCommerce store, you can begin promoting products and generating sales knowing that you are doing so with a trustworthy and reliable banking connection at all times. 

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Article By
James LePage
James LePage is the founder of Isotropic, a WordPress education company and digital agency. He is also the founder of, a venture backed startup bringing AI to WordPress creators.
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