Open a Bank account in Slovenia

How to open a bank account in Slovenia

Economy of Slovenia is strong and young, which attracts expats and individuals of other nationalities to come and incorporate in Slovenia. Friendly business environment and a thriving educated population furthers the cause. Is Capital Ljubljana attracts one and all, as there is something for everyone.

After you have opened your company in Slovenia, the first thing you would look for is a bank account for your company. Well, banking system is quite friendly in Slovenia, subject to some unique rules though. It is fast and efficient.

Opening an online IBAN account in Slovenia generally requires physical presence or additional steps, especially for non-residents. However, Monvenience offers you IBAn accounts that you can apply online, with your existing domestic address and credentials. You can apply for no limit business bank accounts, with no visits to the bank required.

Here are some general steps you can follow:

Research Slovenian Banks:

Begin by researching banks in Slovenia that offer online IBAN accounts. Popular banks in Slovenia include NLB (Nova Ljubljanska banka), SKB Banka, Abanka, and Addiko Bank. You can also check Monvenience, whose IBAN account is not only valid in Slovakia, but also in the rest of EU.

Check Eligibility and Requirements:

Review the eligibility criteria and documentation requirements for opening an account with your chosen bank. Some banks may have specific requirements based on your residency status or business type.

Choose the Account Type:

Select the type of account that suits your needs, such as a personal business account or a company business account for your online activities.

Prepare Required Documents:

Gather the necessary documents for opening an IBAN account. These typically include:

• Valid passport or national ID
• Proof of address (e.g., utility bill, bank statement)
• Proof of income or employment (e.g., payslips, employment contract)
• Slovenian tax identification number (if applicable),
• Additional business-related documents (like copy of invoice/agreement if opening a business account)

Visit Slovenia or Establish a Presence:

Many banks in Slovenia may require physical presence or a registered presence in the country to open an account. This may involve visiting Slovenia or establishing a branch or representative office. However, you can save this activity and expense by applying from Monvenience, where no physical visits are required.

Contact the Bank:

Get in touch with the chosen bank to inquire about their specific process for opening an online IBAN account and any additional requirements.

Complete the Application:

Once you have gathered the necessary information and meet the bank's requirements, complete the application process. This may involve filling out an application form, providing personal and business details (if applicable), and submitting the required documents.

Verification Process:

The bank will review your application and documentation for verification. They may contact you for additional information or clarifications.

Account Approval:

If your application is approved, the bank will provide you with the account details, including the IBAN.

Fund Your Account:

Deposit the required funds into your new IBAN account. You can do this through bank transfers or other payment methods offered by the bank. Funding should be done as early as possible after you are awarded your account, so that your account stands in good standing, and charges can be deducted.

Common Documents Required to open a bank account in Slovenia

It is easy to open a bank account in Slovenia as a non-resident and here is a list of required documentation for most banks. You should, however, consult your bank about specific limitations, that a non resident bank account may carry. Also, your physical presence will be required.

• Passport
• Confirmation of Slovenian tax number (Davcna Tajnost)
• Foreign tax number

*Note: To get the Slovenian tax number, you must provide your own country’s tax number, so that they are connected, and easy reporting may be done to your home country. You will need to fill up from no DR-02, include your own country’s tax number, submit it along with your passport to the tax administration office, and everything should be through within an hour

Best banks in Slovenia

Slovenia has banks with full range service. The top four largest banks in the country are the SKB Banka, Nova Ljubljanska banka (NLB), Nova KBM and Abanka. All these banks have a good presence and good penetration of ATM. Abanka bank is the largest private bank here, and they have a good fee structure and ATM network. However, their website has no option of English.

You are spending too much sending money out of Slovenia

When you transfer funds out of Europe through a bank, you stand to lose quite a bit. This is due to the old systems used by banks, and the overhead burden they carry in terms of properties, systems and human resource. They also charge above mid market exchange rate for the same reasons.

For example, if you send 1000 Euros to a bank account in, say, India, you will get close to 900 Euros worth of INR in your bank after conversion and deduction of all charges. The situation is pretty much the same for any countries or currencies outside Europe, example, Malaysia or Canada or Thailand.

The International Bank Account Number alternative from Monvenience

The alternative to all the hassles is opening an International IBAN account with Monvenience, where you can signup and operate your account online, can transfer in SWIFT and SEPA in different currencies, and get the best transfer and exchange rates. And every activity is contactless!

Moreover, residents and companies of any non grey listed and non sanctioned countries can open their International European IBAN account for banking operations. Thus individual and corporate residents across Europe, Canada, India, Malaysia, Malta, Gibraltar, Mexico, Cyprus, Thailand, Indonesia, Estonia, Ireland, United Kingdom etc can remotely open their account using their own country credentials. No physical interviews, no exorbitant charges.

Know the documents you will need to keep ready before you apply:

Documents for Personal Current Account Documents for Corporate IBAN account

Once you have the documents ready, click on the following to open your account:

Open a personal account Open an account for your company

Online Payroll Prepaid cards for Slovenia to anywhere in the world

Monvenience: Your All-in-One Prepaid Solution

Monvenience offers a flexible prepaid payroll card program that goes beyond just salaries. Our cards can be used for:

• Payroll: Disburse salaries and bonuses to your employees quickly and securely.
• Employee Expenses: Simplify travel and expense management with prepaid travel cards.
• On-Demand Funds: Provide instant access to funds for cardholders and stakeholders.
• Special Events: Issue prepaid cards for event participants for easy spending.

Benefits for Everyone

• Control for You: Track your spending precisely.
• Flexibility for Employees: Make purchases at stores, withdraw cash at ATMs, or pay bills online - all with one card.

Monvenience makes managing prepaid cards easy and efficient.

Click here to know more

Frequently Asked Questions (FAQ)

1. Can foreigners open bank accounts in Slovenia?

Absolutely! Slovenia allows both residents and non-residents, including tourists, to open bank accounts. However, the required documents might differ slightly for foreigners.

2. What documents do I need?

Here's a breakdown of typical requirements:

• Completed application form: Obtain this online or at the bank branch.
• Valid ID: Passport is most common for foreigners, but a Slovenian ID card works if applicable.
• Slovenian Tax Number: You'll need to acquire this beforehand. You can do this by visiting a tax office with a copy of your ID and a completed DR-02 form, which includes your tax number from your home country.
• Proof of Address: A recent utility bill (less than 3 months old) from your home country might suffice.
• Additional documents (bank-specific): Some banks may request a reference letter from your current bank, proof of income, or a work permit (if applicable).

3. Can I open an account online?

While some banks offer online applications, finalization and verification often require a branch visit.

4. Are there any special considerations for non-residents?

• Account limitations: Non-resident accounts might have limitations on transactions or minimum/maximum balances compared to resident accounts.
• Deposit/withdrawal limits: Check with the bank about any restrictions on deposits or withdrawals for non-resident accounts.

5. What else should I consider?

• Research different banks: Compare account types, fees, online banking features, and English language support (if needed).
• Tax implications: Understand any tax reporting requirements for holding a foreign bank account in your home country.

Click Here To Open Your Account

Monvenience extends fiat bank account or IBAN Account online for acting as the fiat account counterpart for your digital exchange or crypto assets trading exchange. However, the exchange must be a reputed one, and you should have sufficient proof of holding your account with the exchange. It is a compliance decision, when your application will be reviewed, for extending our services. Please apply for your bank account online to find out the requirements.