If you work with clients in Europe, Asia, or anywhere outside the US, getting paid internationally shouldn't cost you 3-5% of every invoice. Here are the best banking options for freelancers with international clients.
The Problem with Traditional Banking for International Payments
Most US banks charge: - $25–50 per incoming international wire - 1-3% currency conversion markup on top of the exchange rate - Fees that can add up to $100+ per payment
On a $5,000 invoice from a European client, a traditional bank might cost you $150–250 in fees.
Option 1: Wise Business — Best for Currency Conversion
Wise gives you local bank account details in 10+ currencies (EUR, GBP, AUD, SGD, CAD, etc.). European clients pay your Wise EUR account like a local transfer — you get the real mid-market exchange rate with a small percentage fee (typically 0.4-0.7%).
For most freelancers receiving foreign currency payments, Wise is the best first choice.
Read our full Wise Business review
Option 2: Relay — Best US Business Account
Relay is the best free US business bank account for freelancers. While it doesn't handle multiple currencies, it integrates perfectly with Wise: receive foreign payments to Wise, convert them, and transfer USD to Relay.
No monthly fees. Up to 20 sub-accounts for tax savings. Read our Relay review.
Option 3: Revolut Business — Best for European-Based Freelancers
If you're based in Europe or have significant EUR/GBP cash flow, Revolut Business offers more business features than Wise — expense cards, team access, analytics — at a higher price.
Read our Revolut Business review
Our Recommended Setup
- Relay (primary US business bank account — free)
- Wise (receive foreign currency, convert at mid-market rate)
- Wise (primary multi-currency account)
- Optional: Revolut if you need team expense cards or a EUR IBAN
What to Watch Out For
- •Bank transfer fees vs. PayPal/Payoneer: PayPal charges 4-5% on currency conversion. International bank wires have high fixed fees. Wise/Revolut are consistently cheaper for ongoing cross-border freelancing.
- •FBAR compliance: If any non-US account exceeds $10,000, you may need to file FBAR. See our FBAR Threshold Calculator.