Satchel review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Our verdict
It is digital-only, supervised in Lithuania and covered by the EU deposit guarantee scheme, but the monthly charge of €1 to €35 sits well above the free tier most rivals offer.
Key facts
- Best for
- A digital-only euro account with local IBAN details for expats, freelancers and small businesses working across currencies.
- Monthly fee
- €1 to €35↗
- Deposit protection
- EU DGS up to EUR 100,000↗
- Currency conversion fee
- 1%↗
- Currencies
- 20↗
- Local account details
- IBAN↗
- Transfer fee
- Internal Satchel transfers free; SEPA outgoing 2-3 EUR; SWIFT incoming 0.2% min 10 EUR; SWIFT outgoing 0.5% min 35 EUR↗
- Legal entity
- Satchelpay UAB↗
- Headquarters
- Lithuania↗
- Founded
- 2018↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Audience
- Expats, Business, Freelancers
- Features
- Digital-only
- Official website
- satchel.eu
Pros and cons
Pros
- Holds 20 currencies in one account, above the everyday-accounts median of 9.
- Deposits are covered by the EU deposit guarantee scheme: EU DGS up to EUR 100,000.
- Supervised in Lithuania by the 28.
- Support runs through email, chat and phone, and payouts reach a bank and card.
Cons
- A monthly charge of €1 to €35 puts Satchel near the back of the field on price, while $0, €0 and €0 apply to the alternatives.
- Conversion costs 1% on top of a 1% markup, above the everyday-accounts median of 0.22%.
- Outgoing SWIFT transfers cost €35 a payment, and the account is digital only, so there is no branch to visit.
Who it suits
- Expats paid in euros who need to hold and spend in several currencies
- Freelancers billing clients across the euro area and neighbouring markets
- Small businesses wanting local euro details and euro transfers in one place
Who should look elsewhere
- Anyone after a free everyday account, since Skrill charges €0 a month
- People who need branch or cash-desk access, because the account is digital only
- People who mainly want a wallet for online payments, where PayPal Colombia charges $0 a month
How Satchel compares
8.7 vs 8.7
8.7 vs 8.6
8.7 vs 8.0
8.7 vs 8.9
8.7 vs 9.1
8.7 vs 9.2
8.7 vs 8.7
8.7 vs 8.7
8.7 vs 8.7
8.7 vs 9.0A wallet rather than a euro current account, and it charges €0 a month, so it wins on price rather than on local euro account details.
8.7 vs 8.7
8.7 vs 9.5
8.7 vs 9.4
8.7 vs 9.3
8.7 vs 9.2
8.7 vs 9.2
8.7 vs 9.2
8.7 vs 9.2
8.7 vs 9.2
8.7 vs 9.2
8.7 vs 9.1
8.7 vs 9.0
8.7 vs 9.0
8.7 vs 8.9
8.7 vs 8.9- 8.7 vs 8.9
8.7 vs 8.7
8.7 vs 8.5
8.7 vs 8.5
8.7 vs 8.5
8.7 vs 8.4
8.7 vs 8.3
8.7 vs 8.2
8.7 vs 8.1- 8.7 vs 8.1
8.7 vs 8.0
8.7 vs 8.0
8.7 vs 8.0
8.7 vs 9.1
Where Satchel is available
- Available
- Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden
- Licence in Lithuania
- Supervision Service Department of the Central Bank of Lithuania (28), checked September 26, 2026
- Licence in Lithuania
- National Bank of Lithuania (LB000448), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much is a Satchel account each month?+
Monthly fees run €1 to €35 depending on the plan, well above the everyday-accounts median of €0. The account therefore earns its keep through holding several currencies and paying in euros, not through the standing charge. Plazo and Skrill charge €0 and €0 a month.
What does it cost to send or receive money?+
Transfers between Satchel accounts are free, while SEPA and SWIFT payments are charged, with outgoing SWIFT reaching €35 a transfer. Incoming SWIFT is charged at a lower rate than outgoing. Regular SEPA transfers clear in one to two business days, and SEPA Instant transfers land in seconds.
Is my money safe in a Satchel account?+
Satchel runs as Satchelpay UAB in Lithuania, supervised by the 28 and listed with the LB000448. Balances are covered by the EU deposit guarantee scheme: EU DGS up to EUR 100,000. That cover matters most to anyone holding a payroll balance rather than a monthly bill.
Which currencies can I hold and receive?+
You can hold and receive 20 currencies in one account, above the everyday-accounts median of 9 and well above the site median of 5. Local iban details mean an euro payer can pay you without an extra conversion, while keeping the balance in the currency you need.
How much does currency conversion cost?+
Conversion costs 1% on top of a 1% markup on the exchange rate, and the two together come to more than the everyday-accounts median of 0.22%. The practical answer is to hold the currency you plan to spend in and convert only what you need. As the account is digital only, there is no branch counter to exchange at.
How do I get money in and out?+
Payouts can go to a bank and card, and money arrives by SEPA or SWIFT transfer. Internal Satchel transfers are free, so moving cash between your own accounts costs nothing, and SEPA Instant arrives within seconds when you need to pay someone straight away. Support runs through email, chat and phone if a payment is late or a fee needs checking.
Sources
- satchel.eu checked September 26, 2026
Backs: Currencies, Deposit protection, Legal entity, Licences
“Unique multi-currency business accounts for effortless transactions in 20+ major world currencies”
- satchel.eu/about-us checked September 26, 2026
Backs: Founded
“Established in 2018, Satchel is one of Europe's fastest growing digital banking providers”
- satchel.eu/contact-us checked September 26, 2026
Backs: Headquarters, Support channels
“Head Office Upes St. 21-1, LT-08128, Vilnius, Lithuania”
- satchel.eu/fees checked September 26, 2026
Backs: Currency conversion fee, Exchange rate markup, Payout methods, Transfer fee, Fee to send 1,000
“ATM/POS foreign exchange (markup) 1%”
- satchel.eu/personal checked September 26, 2026
Backs: Audience, Features, Local account details, Monthly fee
“If you're 18 years of age or older and a non-EU/EEA resident with a valid international passport, you have the right to open a European payment account”
- satchel.eu/sepa-instant-transfers checked September 26, 2026
Backs: Delivery time
“These transfers are practically instantaneous, taking only up to 10 seconds ... Compared to regular SEPA transfers, which take 1 to 2 business days”
Compiled from 6 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type.
Related by the facts
Guides
Satchel
A digital-only euro account with local IBAN details for expats, freelancers and small businesses working across currencies.