Business bank account for a US freelancer paid in pounds and euros by clients in Europe

For a U.S.-based freelancer paid in euros and pounds, Wise Business is likely the simplest fit if you want clients to pay you using local European/UK bank-transfer details.

• Wise offers EUR and GBP account details for U.S. businesses, so clients can generally pay by local transfer rather than an international wire. Its U.S. pricing currently lists a one-time $31 fee to unlock account details and free receipt of eligible domestic EUR/GBP payments. SWIFT receipts can have separate fees. (wise.com)
• You can keep money in EUR or GBP and convert it to USD when you choose; conversion fees vary. (wise.com)
• Important distinction: Wise is a money-services business, not an FDIC-insured bank. Its standard balances aren’t FDIC-insured; certain eligible balances may qualify for pass-through coverage if you opt into its interest feature and meet the conditions. (wise.com)

Practical setup: Open Wise Business in your business’s legal name, get the EUR and GBP details, and ask clients to pay in the matching currency using the appropriate local transfer method. If you also want a conventional U.S. bank account, keep one for USD deposits, reserves, and everyday banking, and use Wise for international collections and currency conversion.

If you prefer all foreign payments converted to dollars automatically, a conventional account such as Relay may work, but Relay says non-USD international wires are converted to USD on receipt, so it won’t let you hold EUR or GBP. (relayfi.com)

Before choosing, check whether your clients can send SEPA EUR payments and UK domestic GBP payments to the details Wise provides; receiving via SWIFT may cost more. This is general product information, not tax or legal advice.

Short answer: Wise Business is the best fit for most US freelancers in your situation. Revolut Business is the main alternative, and it works best if you have a company or can use the EU/UK versions. Mercury is useful alongside these for USD banking, but it doesn't handle GBP or EUR.

1. Wise Business (best default)

• You can get local receiving details in GBP and EUR, so European clients can pay you by domestic transfer. Your UK client can pay you in GBP to British account details, and your European client can send EUR to European account details, without either of you paying international wire fees.
• Setup costs a one-time fee for US users. It is GBP 50 in the UK, USD 31 in the US, SGD 99 in Singapore and HKD 199 in Hong Kong. There are no monthly fees. No monthly subscription fees.
• Domestic receipts are generally free. A client paying by SWIFT wire costs them a flat fee. GBP 2.16 and EUR 2.39 per payment are the figures listed for SWIFT receipts. Conversion fees vary by currency pair, and one source puts them at 0.4-1.5% to convert (varies by currency pair), while another gives a starting rate for sending and converting money from 0.19% to 0.24%. Check the rate shown in your account before relying on either figure.
• Caveat: Wise is not a bank. Only balances earning interest have pass-through FDIC cover in the US, and in the UK and EU money is safeguarded.

2. Revolut Business (strong alternative, with a catch)

• It offers local GBP and EUR details and holds a bank licence in the EU and UK. Local GBP and EUR details. Bank licence in the EU and UK.
• The catch for you: Registered freelancers only in the EEA. US version: companies only, no interest. If you're a sole proprietor in the US, you may not qualify, so check eligibility before applying.

3. Payoneer (if clients pay through platforms)

• It's built for marketplace and platform income. It opens local receiving accounts in 10 major currencies, including USD, GBP, and EUR. Its fees tend to be higher. One comparison puts the FX cost at ~2%, while another lists it at 0.5%+. Use it mainly if you're paid through platforms rather than invoicing direct.

4. Mercury (pair it with the above, not a replacement)

• Mercury is a good US business checking account, but it only holds USD. Use it for US tax payments and US expenses, and keep your GBP and EUR in Wise or Revolut.

Practical setup

• Open Wise Business, pay the one-time fee to unlock GBP and EUR details, and give European clients those details. Ask them to pay by local bank transfer (SEPA for EUR, UK domestic transfer for GBP) to avoid SWIFT charges.
• Convert to USD only when you need it, and compare the rate against your bank's.
• If you hold foreign accounts with more than $10,000 in total at any point in the year, you may have FBAR reporting obligations. Confirm this with a US tax professional, especially since your balances will be in multiple currencies.
• Pricing and eligibility change often, so check each provider's current fee page before opening an account.

For a US-based freelancer receiving payments in GBP and EUR, the most efficient solution is typically a multi-currency digital platform rather than a traditional US bank.

While traditional US banks can accept international wires, they often impose high conversion fees and unfavorable exchange rates. Using a specialized fintech platform allows you to "get paid like a local" by providing you with virtual account details (e.g., an EU IBAN and a UK Sort Code).

Top Recommended Platforms

1. Wise Business (Highly Recommended)

Wise is widely considered the best overall choice for freelancers who need to hold and convert multiple currencies.

• How it works: You get local account details for the USD, EUR, GBP, and several other currencies. Your European clients can pay you via local transfer (SEPA for EUR, Faster Payments for GBP), which is usually free or very low-cost.
• Pros:
  • Mid-market exchange rate: You get the "real" exchange rate without the hidden markups traditional banks charge.
  • Low Fees: Very transparent fee structure for converting money between your own currency balances.
  • Integrations: Connects seamlessly with accounting software like Xero and QuickBooks.
• Best for: Freelancers who want to minimize conversion costs and simplify invoicing for international clients.

2. Airwallex

Airwallex is a powerful alternative, particularly if you are looking for more robust business features or higher-volume payment processing.

• How it works: Similar to Wise, it provides local currency account details so you can receive funds globally.
• Pros:
  • Speed: Excellent for B2B payments with fast settlement times.
  • Multi-Currency Cards: Offers virtual and physical cards that are well-suited for business expenses in different currencies.
• Best for: Freelancers who are scaling their business and need more advanced financial tools (like multi-currency cards and automated expense management).

3. Payoneer

Payoneer is a long-standing player that is particularly strong if you also receive payments through freelance marketplaces.

• Pros:
  • Marketplace Integration: If you work on platforms like Upwork, Fiverr, or Amazon, Payoneer is often the preferred (or mandatory) payment method.
  • Global Reach: Strong infrastructure for receiving payments from many different countries.
• Best for: Freelancers who rely heavily on freelance marketplaces or platforms for their income.

Comparison at a Glance

Strategic Advice for US Freelancers

• Avoid "Double Conversion": If you use a traditional US bank (like Chase or Bank of America) to receive international wires, you are often hit with both a wire fee and a poor exchange rate. It is almost always better to receive the funds in a multi-currency account (like Wise), hold them in the original currency until the exchange rate is favorable, and then transfer to your primary US bank account.
• "Full-Service" Banking: Note that platforms like Wise and Airwallex are not banks (they are fintechs/EMIs). While they are safe and regulated, many freelancers keep a traditional US bank account (like Mercury or a local credit union) for domestic operations and use the digital platforms purely as a "bridge" for international payments.
• Compliance: If you have a registered US business (LLC or Corp), Mercury is an excellent choice for your primary US banking. However, Mercury itself is not a multi-currency account; many freelancers use a combination, such as using Mercury for US operations and Wise for international client payments.

Recommendation: Start by looking at Wise Business. It is the most user-friendly for individual freelancers, has no monthly subscription fees, and offers the most transparent pricing for the specific currencies you mentioned.

For a U.S.-based freelancer paid in GBP and EUR, a practical setup is a U.S. business checking account for USD plus a multi-currency account for receiving European payments locally.

Best fit to investigate: Wise Business. It offers GBP and EUR balances and local receiving details, such as a UK sort code and a European IBAN. That lets clients pay through local bank transfer rather than an international wire; you can keep the money in GBP/EUR or convert it to USD when you choose. ¹³⁴ Wise lists a one-time setup fee for U.S. account details in its comparison with Airwallex, so check its current U.S. pricing before opening. ¹⁰

Alternative: Airwallex. It offers local account details in multiple currencies, including GBP and EUR, and lists inbound local bank-transfer fees of £0.50 for GBP and €0.50 for EUR. ⁶⁷ It may suit you if you want more international business-payment features, but review its FX and other transaction charges.

Mercury is more USD-focused. It offers U.S. business banking and international payments, but its published details emphasize sending international payments; non-USD international wires carry a 1% currency conversion fee. I’d compare it as your U.S. operating account, not assume it replaces local GBP/EUR receiving details. ⁵¹²

Before deciding, verify:

• Whether clients can pay using local GBP and EUR transfer details (rather than SWIFT).
• Fees for receiving, converting, and withdrawing to your U.S. bank.
• Whether the provider supports your business structure and state.
• Whether funds are held at a bank and what deposit-protection arrangements apply; Wise says it is a money services business, not a bank. ¹³

If you tell me whether you’re a sole proprietor or LLC—and whether you plan to keep or convert the foreign currency—I can narrow this down.