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Provider review · 4.1 advisor score

Wamo: fees, currencies and how to apply.

The quickest EUR IBAN for consultants and small teams

1-3 days

Time to open

4.1

Advisor score

Paid plan

Monthly cost

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Wamo

EEA · Malta · UK

Time to open

Often within 1-3 days

Currencies

EUR account with multi-currency payments

To open

No minimum; plans from about EUR 9 a month

Licence status

E-money institution regulated in Malta by the MFSA, not a bank

 
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Advertising disclosure. Some links on this page are affiliate links. If you open an account we may be paid a fee, at no extra cost to you. Order is set by our published criteria and cannot be bought.

What Wamo actually is

Wamo is an e-money institution regulated in Malta by the MFSA, not a bank. It targets the simplest case in the market: a small EU company or consultant that needs a working EUR IBAN and a card, quickly and cheaply.

You will not find trade finance or high limits here. What you get is sign-up in a day or two and a cost that stays near nothing.

Best for

Small teams, consultants and freelancers in the EU

Fees and pricing

Checked against the provider’s published pricing in September 2026. Figures vary by country and plan.

Monthly fee

Plans from about EUR 9 a month

Minimum balance

None

Local transfers

Allowance per plan, then a small per-payment charge

International transfers

Limited support, charged per payment

Currency exchange

Around 1%

Cards

Virtual and physical cards on paid plans

Where it works well

  • Very fast onboarding
  • Low monthly cost
  • Simple interface with little to configure

Watch out for

  • An e-money institution in Malta, not a bank
  • Lower limits than the enterprise providers
  • Weak fit for trade flows or large SWIFT volume

Who can open it

  • A company or sole trader registered in the EEA or the UK
  • Simple ownership structure, ideally one to three owners
  • High-risk sectors and high-volume payment businesses are declined

Documents to prepare

  • Certificate of incorporation and company registry extract
  • Passport and proof of address for every director and owner above 25%
  • Description of the business, customers and expected monthly volumes
  • Director ID verified by selfie
  • Proof of business activity such as an invoice or contract

Ready to apply to Wamo?

Have the documents above ready and the application usually takes under 20 minutes.

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