Mollie review

The business account charges €9 each month, which places Mollie near the bottom of the cost ranking at 476 out of 500 brands. Most accounts on the site sit at €0, so the monthly charge is the main reason to look elsewhere when cost comes first.

Currency conversion carries a fee of 2%, above the site median of 0.5% and close to the upper quartile of 2.08%. Businesses that take payments in a single currency and settle in another pay that rate on every conversion, so it matters if currency changes are frequent.

Balances sit under EU DGS up to EUR 100,000. That is the EU deposit guarantee scheme, which reimburses deposits up to the stated ceiling if the provider fails. Mollie B.V. is the named legal entity behind the account, so read the scheme terms against that entity.

Mollie is supervised by De Nederlandsche Bank in the Netherlands, which is the regulator listed for Dutch providers, and it operates under licence F0038. Balances are covered by EU DGS up to EUR 100,000, so the Dutch licence is the link to that protection.

The account supports 12 currencies, above the site median of 5 but below the upper quartile of 15. Local account details are provided as iban, so you can be paid like a local account holder rather than only through a payment link.

The account is digital only, so everything runs through a screen rather than a branch counter or cash machine. That suits people who are happy to manage money on a phone and businesses that want one place for incoming payments. It rules out anyone who needs cash in person.

Support runs on email, chat and phone, so a stuck payment can be chased by phone, in chat, by email or through the help centre. A phone line matters most for a business account, where a delayed transfer can hold up a supplier. The service is digital only, so most questions are answered on screen.

The business account includes 100 free outgoing transactions, so a set number of outgoing transfers is covered without a separate charge. The conversion fee of 2% still applies whenever sender and receiver hold different currencies, which is where most of the cost sits for a business with international customers.

Mollie is aimed at business and freelancer, so a business or a freelancer collecting payments is the intended user. The account is run by Mollie B.V. in the Netherlands, and support on email, chat and phone suits people who want a named company behind the balance rather than an anonymous wallet.