What is a business account?
A business current account is opened in the name of the company and is used for corporate transactions with suppliers, partners and customers, as w...
Where is the Satchel Business account available?
Satchel Business accounts are currently available for companies that are registered and have a physical presence in the European Economic Area (EEA...
What documents are required to open a Business account?
To open a business account with Satchel, you will need to provide the following list of documents: 1. Online application form.
2. Copy of the busi...
What types of accounts do we offer?
At Satchel, we offer business and merchant accounts. A business account is opened remotely and allows you to: Get a unique European IBAN ; Transac...
How much money is needed to set up a business account?
On average, banks will require an opening deposit of anywhere from EUR 5 to EUR 1000, depending on the bank itself, its policies, and your business...
Account aggregation sometimes also known as financial data aggregation is a method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place.
This may be provided through connecting via an API to the financial institution or provided through screen scraping where a user provides the requisite account-access information for an automated system to gather and compile the information into a single page.
The security of the account access details as well as the financial information is key to users having confidence in the service.