Holvi was founded in 2011 after acknowledging that self-employed individuals needed financial assistance due to increased workload.

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About Holvi

They clarify their identity differently from a bank; only providing business banking services with a license from the Financial Supervisory Authority of Finland (FIN-FSA).. The institution prides itself with an “excellent” and a “4.5” (out of 5) Trustpilot rating featured on their website.

Can I use Holvi for international bank transfers?

Holvi caters to international bank transfers limited to Single Euro Payments Area (SEPA) countries. In cases when the transfer must be made outside SEPA countries, they endorse Wise money transfer. Transactions made in other currencies are also advised to use Wise. Any Holvi account can transfer to Wise for international transfers.

How long do transfers take with Holvi?

Sending and receiving money transfers through Holvi takes 1-2 business days to complete. Recipients with Holvi accounts must also wait for 1-2 business days.

Are there transfer limits?

Holvi does not publicly disclose any transfer limits on their website.

Can I use a Holvi debit card when traveling abroad?

Yes. Holvi Business Mastercard can be used when traveling abroad. As long as the transaction is Mastercard supported, the transaction is likely to be successful.

Holvi Exchange rates and fees

Holvi focuses on small businesses and self-employed individuals. One might find their exchange rates and fees to have a relatively weak structure compared to other challenger banks.

Exchange rate

Holvi displays no exchange rates on their website. They only cater money transfers within SEPA countries in EUR.

Transfer fees

All transfer fees incurred by Holvi are included in their monthly pricing plans.

The monthly pricing plan covers 500 free transactions per month for any account owned in Holvi. Transactions beyond this limit incurs 0.25 EUR to 0.50 EUR per transaction until the monthly plan renews.

Additional costs

All costs paid to Holvi are included in their monthly pricing plans. They do not state other costs outside their monthly plans unless the client participates in international transactions through Wise.

How does Holvi transfer fees compare to using a money transfer provider?

The comparison between Holvi and other money transfer providers shows uneven contrasts simply because Holvi does not offer service for international money transfers.

If a client regularly uses Holvi and participates in international money transfers, they will find themselves regularly using Wise, as endorsed by Holvi. Wise money transfer considers three factors for computation of transfer fees: (1) total amount sent, (2) flat rate based on transfer method, (3) market conversion rates. A 1000 EUR sent to a dollar account in the United States incurs 5 EUR to 9 EUR transfer fees.

Small World money transfers incur a 2.99 EUR fee for a 1000 EUR transfer to a dollar account in the United States. The full disclosure of fees cannot be seen on their website, so the client must recheck their transaction before proceeding. However, they offer a free money transfer on your first transaction with them.

WorldRemit money transfers incur 0.69 EUR to 0.99 EUR transfer fee for a 1000 EUR transfer to a dollar account in the United States. They do not fully disclose the other fees on their website. They offer a cash pickup option to lower the transfer fees, but it may only be available to some places.

Holvi pros and cons


Perfect for small businesses - Holvi focuses their services on small businesses. Problems in invoicing, bookkeeping, and bank security are addressed by them.
Simple pricing plans - Once a potential client meets all of the criteria for joining the Holvi, they are asked to choose between two pricing plans: (1) Holvi Lite, and (2) Holvi Pro. The client can immediately use the services entailed in the pricing plans after choosing.
App Included in Monthly Pricing Plans - This further simplifies the transaction between the client and Holvi since the pricing plans include the perks of the app. Business banking, invoicing, e-invoicing, and receipt scanning functions found in the app set it apart from other mobile banking apps.
Holvi Business Mastercard - Any transactions made with the business debit card gets included with the bookkeeping done by Holvi for their clients.


Account opening location - Account opening with Holvi can only be done in limited countries. These countries are Austria, Belgium, Finland, Germany, Ireland, and the Netherlands.
Account opening requirement - Only individuals with businesses can open accounts with Holvi. It is part of their requirement in opening an account with them.
Lack of other products and services - No other products and services are offered by Holvi aside from their debit card, invoicing services, and SEPA money transfers.
Limited international money transfer options - Holvi is currently unable to provide their own service for international money transfers. They endorse Wise to cover international business transfers of their clients.
Made only for business owners, self-employed individuals, and freelancers - Holvi shows no plans of expanding their services to other occupations. They continue to solely focus on self-employed individuals.
Unavailability for overdrafts, loans, or other forms of lending - If a client finds that any form of borrowing remains vital to the health of their business, Holvi cannot provide any form of lending to compensate for the lack of cash flow.

Holvi Additional Products

While Holvi simplifies their products and services within their pricing plan, it is worth highlighting their services and products for better consideration of their advantages.

  • Holvi Business Mastercard - This lets the business owner or freelancer simplify their transactions as it can be used locally and abroad. By taking pictures of receipts through the Holvi app, Holvi tracks all expenses and transactions for bookkeeping.

  • Bookkeeping - This sets Holvi apart from other business banking services. Their organization through bookkeeping saves clients time in filing taxes. All of the records can be shared with an accountant or other pertinent individuals who need to survey transaction history of the business. Holvi even includes real-time value added tax (VAT) balance calculation to prevent any business transaction to exceed the exact amount that needs to be paid.

  • Invoicing - Holvi creates a template e-invoice for businesses to simplify their transactions. This includes creation and tracking of reference or invoice numbers of payments. It allows adaptation of brand design for the invoice while maintaining its functionality and simplicity. The client can set notifications regarding invoices that need urgent attention.

  • App - While seems to be the norm for banks and financial institutions to create an app, Holvi includes the app as a product paid in their monthly pricing plan options. In the app, the business owner or freelancer can manage their business bookkeeping, debit card settings, and access in-app chat support in cases of inquiries or concerns.


Holvi offers business banking solutions for small business owners, self-employed individuals, and freelancers. It focuses on these occupations as their products and services, such as bookkeeping, invoicing, and Holvi Business Mastercard, provide assistance for their clients. Opening an account with Holvi can be done online through their website. Their services are limited to individuals who live in Austria, Belgium, Finland, Germany, Ireland, and the Netherlands.

Given that limited coverage, Holvi eases transactions within SEPA countries with a huge threshold limit of 500 transactions. Their transfer fees for this type of transaction are included in their monthly pricing plans.

In cases of questions or concerns, Holvi offers various pages in their website for addressing the frequently asked questions. Leaving a message also is an option for specific concerns regarding their offered products and services.

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Keith Hodges
Keith Hodges
Keith is a digital specialist with a background in the financial industry, both as a marketeer and a journalist. Keith joined in order to take the business to the next level and expand our offering in multiple international money transfer markets.