What is the SEPA supported list?

EUR uses a closed supported jurisdiction list, shown in the Allowed jurisdictions section on this page. A country absent from that list is not processed even if it does not appear on the prohibited list. The desk confirms your corridors at onboarding.

Which rails can pay into the account?

Payments arrive on SEPA · SEPA INSTANT as domestic credits, with the payer name and reference carried through to your statement.

Can I receive from my own overseas entity?

Same entity funding is permitted where the relationship is documented and the payment purpose is declared at onboarding. Undeclared third party flows are not.

Is the balance a bank deposit?

No. Local Business Accounts are account capabilities, not bank deposit accounts. Client funds are held separately from our own funds with regulated banking partners, and carry no deposit insurance.

EURLOCAL BUSINESS ACCOUNT · SEPA AREA

Your European customer pays a local. You still own the money.

A EUR IBAN issued in your business name, fed by SEPA and SEPA Instant. The statement below is one real working day on a EUR account, priced at Treasury Membership.

Apply for EUR Compliance pack →

ACCOUNT HELD IN YOUR BUSINESS NAMELIVE

IBANDE21 UNIC 0700 2140 7788

BICUNICDEFFXXX

SCHEMESEPA · SEPA INSTANT

BALANCE, EUREUR 420,000.00HELD IN YOUR NAME. NOTHING CONVERTS WITHOUT YOUR INSTRUCTION.

TIMEMOVEMENTAMOUNT

POSTING · 1 OF 5ILLUSTRATIVE · TREASURY MEMBERSHIP PRICING

01 · LOCAL RECEIPTSETTLED

Your customer sent a domestic credit on SEPA INSTANT. Nothing crossed a border, so no correspondent could take a cut on the way in.

RAILSEPA · SEPA INSTANT

SETTLEMENTINSTANT

PAYERVISIBLE ON RECEIPT

REFERENCEINV-2026-0413

SAME INSTRUCTION ON A CORRESPONDENT WIRE

EUR 9,355.00 LOSTEUR 840.00 HERE

ILLUSTRATIVE. CORRESPONDENT FIGURES ARE TYPICAL MARKET DEDUCTIONS, NOT A QUOTE. YOUR SIGNED SCHEDULE GOVERNS.

Where EUR can go, and what it costs to send.

MARGIN IS AGREED BEFORE YOU INSTRUCT AND BOOKED WITH A DEAL REFERENCE

ROUTERAILFX MARGINSETTLEMENT

EUR→EURSEPA · SEPA INSTANTNO CONVERSIONINSTANT

EUR→GBPFASTER PAYMENTS · CHAPSFROM 0.10%INSTANT

EUR→USDACH · FEDWIREFROM 0.10%SAME DAY

EUR→CADEFT · WIREFROM 0.10%SAME DAY

EUR→AEDUAEFTS · IPPFROM 0.15%MINUTES

REACHUSD SWIFT · 180+ COUNTRIESFROM 0.10%1 TO 3 DAYS

MOVEMENT FEES ARE CHARGED PER MOVEMENT AT THE GREATER OF THE FLAT FEE OR THE PERCENTAGE: GBP FROM GBP 5 OR 0.05% · EUR FROM EUR 5 OR 0.05% · USD FROM USD 35 OR 0.05% · AED FROM AED 20 OR 0.08% · USD SWIFT FROM USD 35 OR 0.05%. CAD IS PASSED THROUGH AT COST.

WHAT THE MARGIN ABOVE COSTS YOUMOVEMENT FEES ARE IDENTICAL ON ALL FOUR. ONLY THE MARGIN CHANGES.

BUSINESSUSD 100 / MOCORE FX 0.50%Shared desk. USD 1,000 billed annually.BUSINESS PLUSUSD 300 / MOCORE FX 0.25%Priority queue. USD 3,000 billed annually.TREASURYUSD 500 / MOCORE FX 0.10%Named specialist owns your exceptions. USD 5,000 billed annually.INSTITUTIONALBESPOKEAGREED SCHEDULEFinancial institutions and payment businesses moving client flows.

ANNUAL BILLING INCLUDES TWO MONTHS. THE BAND IS GUIDANCE, NOT A GATE.

MODEL YOUR VOLUME →COMPARE MEMBERSHIPS →

WHAT STOPS A EUR PAYMENT

Two things stop it. The receipt type, or the country.

18 PROHIBITED FOR EUR

CLEARS

Trade receipts from SEPA area customers for goods or services your business invoiced

CLEARS

Same entity funding from your own overseas accounts, where documented

CLEARS

Settlement carrying an invoice, contract or shipment reference

CLEARS

Payments from counterparties disclosed at onboarding

STOPS

Personal transfers, or payments from individuals unrelated to the trade

STOPS

Cash deposits of any kind

STOPS

Client money held on behalf of third parties, or undeclared third party flows

STOPS

Receipts with no commercial purpose or supporting documentation

EVERY RECEIPT CARRIES PAYER NAME AND REFERENCE INTO YOUR STATEMENT. REGULATED PAYMENT BUSINESSES MOVING CLIENT FUNDS ARE STRUCTURED UNDER INSTITUTIONAL MEMBERSHIP.

ALLOWED JURISDICTIONS

Where this account can be held.

EUR uses a closed supported list. Only the jurisdictions below are in scope for incorporation, operations, collection and payout.

71 ALLOWED FOR EUR

Africa5

Botswana

Mayotte

Réunion Island

Saint Helena

Tunisia

Asia6

Brunei Darussalam

Israel

Japan

Singapore

South Korea

Taiwan

Europe37

Albania

Austria

Belgium

Croatia

Cyprus

Czech Republic

Denmark

Estonia

FYR of Macedonia

Faroe Islands

Finland

France

Germany

Greece

Hungary

Iceland

Ireland

Italy

Latvia

Liechtenstein

Lithuania

Luxembourg

Montenegro

Netherlands

Norway

Poland

Portugal

Romania

San Marino

Slovakia

Slovenia

Spain

Svalbard and Jan Mayen

Sweden

Switzerland

United Kingdom

Åland Islands

North America11

Barbados

Canada

Costa Rica

Dominica

Greenland

Jamaica

Saint Barthelemy

Saint Martin

Saint Pierre and Miquelon

Saint Vincent and the Grenadines

United States

South America4

Argentina

Chile

Ecuador

Falkland Islands

Oceania6

Australia

Heard Island and McDonald Islands

New Caledonia

New Zealand

Pitcairn

United States Minor Outlying Islands

Antarctica2

Antarctica

South Georgia and the South Sandwich Islands

SCOPEThe list covers where an entity may be incorporated or operate for this currency capability.

CLOSED LISTAny jurisdiction not listed is out of scope by default, even if it is absent from the prohibited list.

LISTING IS NOT APPROVAL. ALL ONBOARDING AND PAYMENTS REMAIN SUBJECT TO SANCTIONS SCREENING, DUE DILIGENCE AND ONGOING COMPLIANCE REVIEW. THIS LIST MAY CHANGE WITHOUT NOTICE.

Getting the EUR account open.

TIMINGS ARE INDICATIVE AND DEPEND ON HOW QUICKLY DOCUMENTS ARRIVE

STEP 01ApplicationCompany, directors, UBOs and the corridors you expect to run.DAY 1

STEP 02KYB and UBOIncorporation documents, registers and beneficial owner verification.DAY 1 TO 3

STEP 03Activity reviewVolume, pairs, counterparties and trade documents for declared flows.DAY 3 TO 7

STEP 04EUR approvalCapability confirmed and account details issued in your business name.ON APPROVAL

STEP 05Pricing scheduleMembership and fee schedule issued against your reviewed flow, then signed.WITH APPROVAL

STEP 06ActivationFirst instruction accepted. Instructions run 24/7 with no cut off.SAME DAY

EUR QUESTIONS

No. The EUR capability is open to approved businesses incorporated anywhere. Local describes the rail, not your registered office.

Take the EUR account into the application.▍

The application carries EUR through, so you do not re enter it. Or send the desk your corridor and we will price it before you commit.

Apply with EUR selected Compliance and pricing pack →