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Memo Bank review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Memo Bank suits businesses that trade across many currencies and can absorb a monthly charge of €449. In exchange it pays 1.75% at a variable rate on easy-access savings, holds 104 currencies and covers deposits under EU DGS up to EUR 100,000, while funds stay open to instant withdrawals whenever the business needs them.

Key facts

Best for
Businesses holding many currencies that can carry a monthly charge.
Monthly fee
€449↗
Deposit protection
EU DGS up to EUR 100,000↗
Currency conversion fee
0.4% to 0.85%↗
Currencies
104↗
Local account details
IBAN↗
Transfer fee
Fixed processing fee per international transfer plus a 0.40% to 0.85% margin on the spot exchange rate↗
Legal entity
Memo Bank SA↗
Headquarters
France↗
Founded
2017↗
Support channels
Help-centre, Email↗
Audience
Business
Pricing model
Low FX fees
Official website
memo.bank

Savings

Headline rate
1.75%↗
Rate type
Variable↗
Minimum deposit
€0↗
Access terms
100% liquid savings account: funds can be added or withdrawn instantly and autonomously at any time↗
Account kind
Easy access↗

Facts checked September 26, 2026, 6 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataLinkedInXregafi.fr

Pros and cons

Pros

  • Holds 104 currencies and issues local IBAN details for receiving payments.
  • Deposits carry EU DGS up to EUR 100,000 and the bank holds a Banque Centrale Europeenne licence.
  • Conversion margin of 0.4% to 0.85%, below the site median 0.5%.
  • Interest of 1.75% at a variable rate, with funds available instantly rather than locked in a term.

Cons

  • The monthly charge of €449 makes it among the costliest accounts here, while the site median monthly fee is €0.
  • Support runs on help centre and email only, with no phone line in that list.
  • International transfers add a fixed processing fee on top of the 0.4% to 0.85% margin.
Memo Bank

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Scored 8.6 / 10 by VaultCue.

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Who it suits

  • Businesses paying suppliers and receiving clients across several currencies.
  • Savers who need money available instantly rather than tied to a term.
  • Readers who put covered deposits and a wide currency list above a low standing cost.

Who should look elsewhere

  • Plazo ES, at €0 a month, suits holders who refuse any standing cost.
  • Skrill, at €0 a month, suits people who move money through a wallet rather than holding a balance.
  • PayPal Colombia, at $0 a month, suits users who want card and wallet tools rather than an IBAN account.

How it compares on our data

In this comparison, Memo Bank sits at 12 of 379 on the number of currencies held, well up the table. On monthly fee it ranks 499 of 500, so the breadth of its currency list comes at a price few of the accounts compared charge. Both sides of the trade-off show up in the numbers.

The company behind it

Memo Bank SA is registered in France and has operated since 2017. It holds a Banque Centrale Europeenne licence, FR17338, and appears on the ORIAS register as 25004636. Support runs through a help centre and email, listed as help centre and email, and both licence numbers sit in the published legal notices for anyone checking the entity.

How Memo Bank compares

Where Memo Bank is available

Available
Belgium, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Spain
Licence in France
Banque Centrale Europeenne (ECB) (FR17338), checked September 26, 2026
Licence in France
Autorite de Controle Prudentiel et de Resolution (ACPR), checked September 26, 2026
Licence in France
ORIAS (25004636), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does Memo Bank charge each month?+

The account carries a monthly fee of €449. That sits far above the site median €0 and puts Memo Bank near the top of the cost ranking, so the fee is the first thing to check before applying. Converted currency costs are the second.

Is my money protected if the bank fails?+

Deposits are covered by EU DGS up to EUR 100,000. Memo Bank SA is listed as a French bank, holding a Banque Centrale Europeenne licence numbered FR17338 and an ORIAS entry, 25004636. The balance therefore sits in a bank account rather than an e-money wallet.

Can I get at my money when I need it?+

Yes. The savings account is easy-access (easy access) and funds can be added or withdrawn instantly and on your own, with no notice period, so you can start small and top up as invoices land. The stated minimum deposit is €0.

How much do international transfers cost?+

Currency conversion runs on a margin of 0.4% to 0.85%, below the site median 0.5%. Each international transfer also carries a fixed processing fee that sits on top of that margin. Memo Bank is set up as a low-fx account (low fx) for businesses that move money across borders often.

How many currencies can I hold?+

The multi-currency side covers 104 currencies, and local details by IBAN (iban) come with them for receiving payments. Business accounts in this comparison typically support 4, so the gap is wide.

What interest do I earn on the balance?+

The savings rate is 1.75% and it is variable, so it moves with the central bank rather than locking you in for a term. Business savings on comparable products show a median 3.5%, which sets the bar for what the balance earns.

How do I get help if something goes wrong?+

Support runs through help centre and email, so a help centre and email are the routes in. There is no phone line in that list, which for urgent problems makes email the quicker path. Licence numbers are published in the legal notices if you want to check the entity behind the account.

Sources

Compiled from 8 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type.

Memo Bank

Memo Bank

Businesses holding many currencies that can carry a monthly charge.

8.6/10See alternatives