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
- 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
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.
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 to open
- None
- SEPA transfers
- Allowance per plan, then a small per-payment charge
- SWIFT transfers
- Limited support, charged per payment
- Currency conversion
- 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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