Holvi Review

As a Europe-based financial service, Holvi offers business accounts exclusively in Euros.

The current payment options offered by Holvi are inbound and outbound payments, and international payments via SEBA or IBAN. There is even an option to pay expense claims. Holvi doesn’t support direct debits right now.

For any foreign currency transactions outside the European Union, Holvi recommends using the services of Transferwise.

Holvi business clients have access to a bright yellow prepaid MasterCard. Just like other debit cards, it can be used to make purchases worldwide, in a brick and mortar store or online.

The number of available cards depends on your pricing plan. The card can be issued by anyone in the organisation who has admin or creator roles.

The creator of the account has the administrator role and is the one who manages additional users. The number of users depends on the pricing plan. Users can be added and removed via the app or website. Accountants and bookkeepers can also be invited to view and access the account.

With its strong focus on assisting other small businesses, Holvi has developed its own bookkeeping service. The company promises to make admin less of a chore and not as time-consuming as it has been in the past.

The most prominent features included in the app are the management of recurring invoices, inventory management, and business to business (B2B) customer billing.

The Holvi account allows for the preparation of income and expense reports. Accountants will love the ability to track all money movements and even create budgets. VAT is also handled inside the software.

A benefit many users report of being the most useful is the invoice generation tool. Clients can be invoiced on the spot. Instant notifications appear when invoices are paid, and the data is automatically synced to the account.

Holvi makes security a top priority. The Financial Supervisory Authority of Finland regulates them. Its website is built with strong TLS/ SSL encryption security, and it uses two-factor authentication. Transactions via MasterCard benefit from its 3D secure authentication protocols.

Like most digital banks, Holvi doesn’t invest its member funds elsewhere and holds them in secure accounts at other top European banks, separate from the company’s business funds. This means that in the unlikely situation that something goes wrong, your funds are safe and you have immediate access to them.

Holvi also cares about your information. It only keeps data about you that is required by Finnish law to establish the account and to contact you. This information is stored securely in its system.

Money laundering, fraud, terrorist financing, and ID theft are common issues for the entire financial industry. Holvi actively works to fight and prevent these types of activities.

The biggest perk of being a Holvi business account customer is its invoicing tool. You can complete a service for your client, immediately generate an invoice from the Holvi app, and receive the payment.

This process can help small businesses increase their immediate cash flow. There is no longer the delay of waiting for the finance department to bill the clients. The process is instant and integrated.

Holvi also has a blog, targeted at entrepreneurs to assist them with their business. Topics range from marketing to legal topics to work/life balance. Not many other financial institutions care this much about the growth of their client’s organisations.

Holvi is very customer-centric and welcomes phone contact from Monday to Friday, with representatives who speak English, German, and Suomi.

Its website has a help-desk area where many consumer questions have already been answered. Holvi highly recommends checking here first to avoid the need to make a call if unnecessary.