These include multi-currency accounts, payment processing, and expense management, with a focus on simplifying financial operations for businesses and individuals.
In this article, we will be reviewing Zen and taking a closer look at its features, pricing, ease of use, customer service, and how it stacks up against its competition.
We aim to give you all the information you need to choose the best bank account for your business.
Overview
Transaction fee (International) | Refund Fees | Settlement timeframe | International markets |
|---|---|---|---|
Smart plan: market rate + 0.50% Enterprise plan: market rate Out-of-hours conversion: 0.4% on both | 2.50 EUR | Instant settlement | 57 countries, 28 currencies, and 4 local account options |
- Specialists in payment processing in particular, with a wide range of support for ecommerce and different types of card transactions
- Instant settlement on incoming cross border transactions
- Personalized customer support based on the type of product and industry in which you work
- Lack of global coverage. On average, similar services offer 100+ countries and 35+ currencies.
Features | Insight |
|---|---|
Account manager | Dedicated account manager with online support options |
Local accounts | 4 local accounts including EUR, USD, GBP, CAD, and 28 IBAN accounts |
Expense management | Multiple expense management features include virtual IBANs, payment cards, batch payments real-time tracking, receipt captures, and more. |
Physical cards | Unlimited physical cards |
Available currencies | Can store 28 currencies |
Instant cashback | 50% cashback on the smart plan and 100% on the enterprise. |
Extended warranty | Up to €1500 per product on the smart plan and up to €5000 per product on the enterprise. |
Shopping protection | 10% of the transaction amount on the enterprise plan |
Zen fees & general costs
Zen has two tiers for users, a Smart Plan and an Enterprise Plan.
Using the Smart plan is best for lower amounts of cross-border transfers, you'll pay a lower fee but more per transaction. On Enterprise, the monthly cost is higher (€100), but costs are much lower.
Service | Smart Plan | Enterprise Plan |
|---|---|---|
Opening account | Free | Free |
Maintaining account | €25.00 per month | €100.00 per month |
Currency exchange | Market rate + 0.50% (for exchanges out of market hours, there's an additional charge of 0.4%) | Market rate (for exchanges out of market hours, there's an additional charge of 0.4%) |
International transfer fees |
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Local transfer fees |
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Other transfer fees |
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Card fees |
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Chargeback fees | Varies from €35.00 to €60.00 | Varies from €35.00 to €60.00 |
Refund | 2.50 EUR | 2.50 EUR |
Top up & processing fees
For payment gateways and accepting different types of payments, the cost of Zen differs. This being said the wide range of acceptance is one of the best on the market.
Payment network | Smart Plan | Enterprise Plan |
|---|---|---|
Visa® and Mastercard® | 1.00% - 5.00% | Free - 4.00% |
Apple Pay and Google Pay | 1.00% - 5.00% | Free - 4.00% |
BLIK | 1.00% | Free |
Bancontact | €0.25 | Free |
iDeal | €0.25 | Free |
PayByLinks | 1.00% | Free |
PaySafeCash | 3.00% | 3.00% |
PaySafeCard | 10.00% | 10.00% |
PayPal (EEA account) | 2.50% + €0.25 | 2.50% + €0.25 |
PayPal (non-EEA account) | 4.00% + €0.25 | 4.00% + €0.25 |
Neteller | 4.00% + €0.25 | 4.00% + €0.25 |
Skrill / Skrill Rapid | 4.00% + €0.25 | 4.00% + €0.25 |
Trustly | 1.50% (min. €2.00) | 1.50% (min. €2.00) |
Neosurf | 9.00% | 9.00% |
Digital Currency | 0.50% | 0.50% |
Other fees
Service | Smart Plan | Enterprise Plan |
|---|---|---|
ZEN Pay purchases | Free | Free |
ZEN Pay deposits | Free | Free |
Eligibility
Business types
Countries
Products offered by Zen
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Signing up for Zen
Visit the ZEN Website
Begin your application on the ZEN registration page by completing the required details.
Provide Business Information
Include all necessary details, including your business name, contact information, and business type. If applying only for a multi-currency account, you can skip the "Business website" field.
Verify Your Identity
Follow the prompts to complete the identity verification process.
Submit Application and Await Approval
After submission, you will receive an email for approval and further instructions from ZEN.
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