Online banking for a travel business: what to check before opening an account

A small tourism business lives by the season.

A 12-room guest house, a family cafe, or a local tour operator sees money come in waves: prepayments for bookings in spring and summer, while salaries, rent, and supplier payments go out year-round. Keeping a cashier and a finance department for this is expensive. According to Eurostat, 99% of enterprises in the EU are micro and small businesses (as of: 10/2024).

Online banking solves exactly this problem. You can see your balance and transactions in the app, payments go out in minutes, and statements flow into your accounting software automatically.

Below we will look at which features such a company actually needs, how to choose a bank, and what to check before signing the agreement.

What business online banking is and who needs it

Business online banking gives you access to your account through the bank's website or app. You open an account, confirm transactions with an electronic signature, and manage your money without visiting a branch. For a tourism company, this is not convenience for its own sake, it is speed: a booking needs to be confirmed today, a supplier needs to be paid before shipment, and staff need their salaries on time.

Not everyone needs an account. If you have one revenue inflow per month and one payment, a basic package is enough. If the cash register runs every day and you have more than ten payments, manual processing takes hours and adds errors. An online account removes part of that routine.

💡 In short:

• Online account and payments are available in the app around the clock, without visiting a branch.
• Banks process instant euro transfers in about 10 seconds: the requirement has been in effect since January 9, 2025 (as of: 2025, ECB).
• An account is worth opening if you have regular payments to suppliers, staff, and contractors.
• Before choosing, check the fees, limits, and integration with your accounting software.
• Online payment security requirements: 10/2026, according to EBA.

Finom: an example of a business account for small businesses

One example of such an account is the business account service Finom. According to the service description, it is designed for business clients and helps organize money operations so that the owner focuses on their main work rather than reconciling statements. Below are the features and selection criteria that will be useful with any bank or fintech service. Finom is one example here, not the only option on the market.

Which features a tourism company needs

The set of features depends on how you accept money. For a guest house, it is usually card and transfer; for a tour operator, prepayments from partners and payments to contractors in different currencies. Compare what you use every day.

The number of features is secondary. Pick three or four from the table that cover your daily operations and check them against the fees and limits. If half of your guests pay by card, the acquiring fee matters more than the length of the currency list.

How to choose a bank: criteria and common mistakes

The choice comes down to a few points. Compare them against your turnover, not against advertising promises.

Common mistakes when choosing:

• Looking only at the monthly fee and not checking the conversion fee.
• Not comparing limits with seasonal turnover.
• Choosing a bank without export to your accounting software.
• Signing the agreement without reading the termination terms and fees for additional services.

Check the agreement before signing: fees, termination period, and the procedure for changing terms. This will save you time and money later.

What protects the money in your account

Account protection is not just about a password. Banks and payment services in the EU operate under PSD2 requirements, which mandate strong customer authentication. For you, this means a payment cannot be confirmed with a password alone: two independent factors are required.

What exactly protects the account

• End-to-end encryption. Data between you and the service is transmitted in encrypted form.
• Multi-factor authentication. In addition to the password, you need a one-time code or a fingerprint.
• Transaction analysis. Systems monitor unusual payments and warn you in advance.

What you should do: enable two-factor protection right away, set up notifications for all transactions, and give employees cards with limits rather than access to the main account.

⁉️🤔 Frequently asked questions

How is a business account different from a personal one?

A business account is opened for a company or a sole proprietor, not for an individual. It has separate pricing, higher transfer limits, and transaction export for accounting. A personal account is not intended for regular supplier payments and salaries, and the bank may restrict such transactions.

How much does an online account for a small business cost?

The price depends on the package and the number of transactions. Some services charge a monthly fee, others charge per transfer and conversion. Compare against your turnover, and check the exact fees on the chosen bank's website. A cheap package often turns out to be more expensive with active transactions.

Is it safe to manage payments through an online bank?

Yes, if you meet the regulator's requirements. Under PSD2 requirements, banks apply strong customer authentication: a payment is confirmed with two independent factors (as of: 10/2026, EBA). Enable two-factor protection and notifications, and the risk of unauthorized access will decrease.

Can I connect the account to accounting and booking systems?

Many business accounts support integrations via API or file export. This way transactions reach your accounting software without manual entry. The list of supported services varies by bank, so check it in advance: it determines how many hours you save during the reporting period.

How long does it take to open a business account?

Some services open an account online within a few days, while a traditional bank may require a visit and more documents. The exact timeline and document list depend on the bank and your company's legal form. Clarify them before applying so you do not lose time during the season.

In short: how to choose an online bank

Choose an online bank for your tourism business based on your operations, not on the number of features. First, calculate how many payments and in which currencies you make per month.

• Guest house or cafe: look at acquiring and simple transfers.
• Tour operator or agency: add a multi-currency account and bulk payments.
• Seasonal business: check daily limits before the high season starts.

One action before you start: verify the fees, limits, and termination terms before signing the agreement.