Why European SMEs choose wamo
wamo is built for the modern European SME. We replace the red tape and branch visits of traditional banking with a digital-first experience designed for speed. While legacy banks rely on complex systems and weeks of waiting, wamo provides guided onboarding, real human support, and smart tools so you can move as fast as your business.
Open your account in minutes, not weeks
Talk to a real person when it matters (no branch visits required)
Business banking, team cards, and local IBANs — all in one place
Get the human support you need
We know how important it is to speak to someone who understands your business.
Chat to a real person via in-app chat, Whatsapp or email
Local support team ready to help in Maltese, Italian, English and more
Get fast, helpful answers when you need them most
Frequently asked questions
What is the main difference between wamo and a traditional bank for small businesses?
Traditional banks were built for paperwork, branch visits, and slow processing cycles. wamo is a licensed e-money institution (EMI) built for the modern European SME — you can open a fully functional business account in around 10 minutes, entirely online, with no setup fee. Where traditional banks can take weeks to approve a business account and require in-person visits and extensive documentation, wamo's onboarding is 100% paperless and guided from start to finish, without the red tape.
Is wamo cheaper than a traditional business bank account?
For most SMEs, yes. Traditional business accounts often carry monthly maintenance fees, minimum balance requirements, and per-transaction charges that are rarely disclosed clearly upfront. wamo starts at €0/month on the Freemium plan, with paid plans at €10 (Smart) and €20 (Pro) per month — all with transparent published pricing and no setup fee. Features like team Visa cards and a physical POS terminal, which traditional banks charge separately for or do not offer at all, are included within wamo's standard plans.
Is a wamo business account as safe and regulated as a traditional bank?
Yes. wamo is a licensed and regulated e-money institution (EMI), authorised by the Finnish Financial Supervisory Authority (FIN-FSA). Customer funds are protected through a safeguarding model, meaning business funds are held separately in designated accounts at regulated credit institutions. While wamo is not a deposit-taking bank, it operates under strict EU financial regulation and applies the same compliance standards — including KYC and AML requirements — that govern traditional banking.
How do I switch my business banking from a traditional bank to wamo?
Switching is straightforward and done entirely online. You apply at wamo in around 10 minutes, providing your business details and identity documents — no branch visit, no paper forms. Once approved, you receive a European IBAN, Visa cards, and full access to the wamo platform. You can run both accounts in parallel during the transition, redirecting payments and updating your IBAN with clients and suppliers at your own pace. Most businesses complete the switch without any disruption to their operations.
