How to withdraw cash from your foreign business bank account? How to deposit money into the account?

Before doing this, especially if a large amount is involved, consider whether the payment can be made in another way, because cash transactions are always subject to monitoring by banks. Today, for many people a more relevant question is how to deposit cash into a business bank account with a foreign bank. In the same way, we recommend avoiding situations involving the movement of large amounts of cash where possible. You may deposit small amounts up to 10,000 personally at a bank cash desk when travelling abroad, but we also do not recommend doing this more than once a month.

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If you need a relatively small amount (up to EUR 100,000), the options are as follows:

1. First option: use an ATM. In most countries, the fee for withdrawing money from your business debit VISA/Maestro card is usually from 1.5% to 3%. Cards may be personalised or non-personalised, meaning that the card may show only its number without the name of the holder or the company.
2. Second option: visit a bank branch personally and withdraw the required amount of money at the bank cash desk. .
3. Third option: contribute the money to the share capital of a company in the country where you need cash, and then withdraw the money at the bank cash desk in the country where you operate for the purposes you need. As you are using funds from the share capital, the bank and the tax authority normally do not have questions.
4. Fourth option: grant yourself an interest-free loan for 10-20 years.
5. Fifth option: for large amounts from 500,000 - ask your financial adviser for advice. Each situation may have its own solution. Do not rush to ask the bank incorrectly worded questions.

You can check bank fees on their official websites.

We also recommend reviewing banks' requirements for providing information about the business
in our review Why do banks ask about this...?