Best Cashback Banks for Business in Europe
What if I told you that choosing the right bank can lead to an increase in business profits and contribute to growth? As farfetched as it might seem, it’s true! Your business bank should effectively manage your money from seamless technological integration to cashback each month, making it essential to select the right one.
Evaluation Criteria
To take the burden off your plate, we’ve done all the hard work and selected the top bank contenders in Europe for your business. Our selections were based on criteria that apply to banking today, such as technological advancements, cashback ability, payment terms, and e-commerce features. Evaluating these three banks based on the requirements led us to see one clear winner.
Pros
Juni offers users some of the highest levels of technology we’ve seen on the market. From e-commerce features to instant online banking reports, you can rest assured that the backend of banking is handled. In addition, Juni extends 1% cashback on all purchases and gives discounts on many other purchases, allowing your business to save money. Lengthened payment terms up to 60 days and the opportunity to obtain an interest-free loan remain other pros of banking with Juni. To top things off, Juni also offers an affiliate program.
Cons
One of the cons of Juni that we found is that it is currently only available in EUR and GBP with USD coming soon; however, adding other currencies is in the works. If your business is registered in the UK, EU (besides Germany and Malta), and Norway, you will have no problem with Juni, but if you are outside of this region, you may need to wait until Juni extends into other areas.
Pros
Another top European contender uncovered is N26, which offers mobile banking tailored towards entrepreneurs and the self-employed. Like Juni, N26 incentivizes banking through a rewards program. However, N26’s rewards program only gives users 0.5% cashback, remaining only half of what Juni users receive.
Cons
With pros must come cons, and N26 is no exception. N26 falls short on the technical side, with most of the videos on their website failing to load, indicating these technical problems may trickle down and affect you. The other clear con is that N26 is not readily available yet, but you can join their waitlist.
Pros
Revolut also made the list for its innovative technology and international reach. Revolut gives users the tool to manage multiple aspects of business, from clearly seeing subscriptions to quick transfers. In addition, Revolut can convert to 28 different currencies. Finally, Revolut has a flashy card made of steel for those interested in card appearances.
Cons
Despite honing in on the technology side of banking, Revolut falls short on cashback programs, with no information readily available on what they offer. Also, most of their business accounts come with fees, which is not ideal for small companies.
The clear winner?
One clear winner stands out from the rest. Juni gives businesses all the tools they need to scale, from solid technology to cashback savings on each purchase, allowing your business to spend less and make more. Give your business the best possible chance of success with a bank that effectively utilizes your money with Juni.
