3S Money is a challenger bank with a very specific purpose – assisting SMEs with overseas transactions. Based in the UK, this challenger enables an SME to open £, €, and $ accounts in one location, while permitting the sending and receiving of payments from almost 20 countries in over 65 currencies.
This is a fine challenger account for SMEs with a global reach – or ambitions to expand their reach beyond the UK.
Featured pro tools
3S Money business banking services
- Pros and cons of 3S Money for business services
- 3S Money business current accounts
- 3S Money business overdrafts
- 3S Money business savings accounts
- 3S Money at a glance
- Other business finance products
- 3S Money reviews
- Business eligibility criteria
- Business finance alternatives
- Additional considerations
- FAQ
Pros and cons of 3S Money for business services
| Pros of 3S Money | Cons of 3S Money |
|---|---|
| ✓ Cost-effective foreign transfers | ✗ Niche service provided |
| ✓ Efficient overseas trading | ✗ Expensive monthly account fee |
| ✓ Great customer service | ✗ No FSCS protection |
| ✗ Very limited online reviews |
Business current accounts
3S Money doesn’t offer a traditional business current account like those from high-street UK banks.
The ”business current account” offered by 3S Money is their International Business Account with UK IBAN.
It supports all standard current-account functions (payments in/out, batch payments, integrations) but is tailored for multi-currency, cross-border use.
You choose between Standard, Enterprise, or Enterprise Plus based on your business size, volume, and complexity.
Standard Plan
For a monthly fee of €100, this account is suitable for small businesses, start-ups, and SME’s. This account can have up to 2 account users and up to 5 beneficial owners. Receive funds from the EU, UK, US, and UAE for free. Suitable for businesses processing up to €100,000 per month in payments.
Enterprise Plan
For a monthly fee of €300, this account is suitable for medium-sized businesses with higher transactional volumes of up to €10 million per month. This account allows up to 5 account users.
Enterprise Plus Plan
For a customised monthly fee, this account is suitable for large global businesses with complex structures and with transactional volumes over €10 million per month. This account allows up to 10 account users.
Business overdrafts
✗ Not available through 3S Money. See best business overdrafts.
Business savings accounts
✗ Not available through 3S Money. See best business savings accounts.
3S Money at a glance
| Phone number | N/A – online contact only |
| App downloads | N/A |
| Website | https://3s.money/ |
| Number of branches | N/A – 3S Money is an online-only challenger |
| FSCS protected? | No |
| Founded | 2018, Netherlands |
Other business finance products
3S Money does not trade in cryptocurrency, or offer additional financial products for a business. This account will be used exclusively to trade in various currencies from within the UK.
3S Money reviews
What are other business banking customers saying about 3S Money?
| Review platform | Score | Number of votes |
|---|---|---|
| TrustPilot | 4.5/5 | 870 |
| Feefo | Not reviewed | N/A |
| Reviews.co.uk | Not reviewed | N/A |
| Smart Money People | Not reviewed | N/A |
| Which? | Not reviewed | N/A |
| Average score | 4.5/5 | 870 |
Business eligibility criteria
3S Money is flexible about who can open an account with this bank. You will not need to be a UK resident to open a British account, and can open an account with less than a year of trading under your belt. You’ll just need to answer some questions about your business model – and, naturally, ensure you can pay the monthly fee.
Business finance alternatives
As 3S Money offers such as specialist product and service, comparatively few rivals operate in the UK. One possible alternative is Wise, if you wish to contrast the offerings of these two challenger banks.
Additional considerations
3S Money is expanding its horizons all the time, constantly adding new currencies. In Q4 2022, 3S Money made a breakthrough in the Middle East, opening another potential market to account holders.
FAQ
No, 3S Money is not a proper bank. It is a money transfer service that provides users with low-cost and secure international payments. Unlike banks, it does not offer any financial services such as deposits, loans or credit cards.
To open a 3S Money business account, the first step is to sign up on the 3S Money website and provide your personal information such as name, address, email address and phone number. After that you need to enter your business details including its name, address and contact information. Finally, you will need to deposit an initial amount into your account.
3S Money charges a flat transaction fee of 2% plus a fixed amount depending on the currency used. It also offers an optional chargeback protection service that protects merchants from fraud and unauthorised payments at a cost of 0.2-1%. Other fees may apply, such as an inactivity fee if your account has been dormant for more than 6 months.
3S Money offers many services for businesses, including international payments, online checkout and processing, currency conversion, merchant account integration and more. It also provides a number of security features to protect against fraud, such as Secure Socket Layer encryption and data storage compliance with the Payment Card Industry Data Security Standard (PCI-DSS). Additionally, customers can access their account information 24/7 through the 3S Money website.