What details are issued?

A UK sort code and account number in your business name, with an IBAN where issued. There is no pooled collection. Issuance remains subject to approval.

Which rails can pay into the account?

Payments arrive on FASTER PAYMENTS · CHAPS 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.

GBPLOCAL BUSINESS ACCOUNT · UNITED KINGDOM

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

Sort code and account number issued in your business name, fed by Faster Payments and CHAPS. The statement below is one real working day on a GBP account, priced at Treasury Membership.

Apply for GBP Compliance pack →

ACCOUNT HELD IN YOUR BUSINESS NAMELIVE

SORT CODE04-29-09

ACCOUNT NUMBER88214077

IBANGB29 UNIC 0429 0988 2140 77

BALANCE, GBPGBP 480,000.00HELD 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 FASTER PAYMENTS. Nothing crossed a border, so no correspondent could take a cut on the way in.

RAILFASTER PAYMENTS · CHAPS

SETTLEMENTINSTANT

PAYERVISIBLE ON RECEIPT

REFERENCEINV-2026-0413

SAME INSTRUCTION ON A CORRESPONDENT WIRE

GBP 10,675.00 LOSTGBP 960.00 HERE

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

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

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

ROUTERAILFX MARGINSETTLEMENT

GBP→GBPFASTER PAYMENTS · CHAPSNO CONVERSIONINSTANT

GBP→EURSEPA · SEPA INSTANTFROM 0.10%INSTANT

GBP→USDACH · FEDWIREFROM 0.10%SAME DAY

GBP→CADEFT · WIREFROM 0.10%SAME DAY

GBP→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 GBP PAYMENT

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

18 PROHIBITED FOR GBP

CLEARS

Trade receipts from United Kingdom 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.

Getting the GBP 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 04GBP 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

GBP QUESTIONS

No. The GBP capability is open to approved businesses incorporated anywhere. Local describes the rail your money moves on, not your registered office. Jurisdiction is one input into the compliance review.

Take the GBP account into the application.▍

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

Apply with GBP selected Compliance and pricing pack →