Canonical: https://unicorncurrencies.com/business-accounts/for-financial-services/ # Local Business Accounts for financial services businesses | Unicorn Currencies ## Summary Unicorn Currencies supports selected financial services businesses that need local account details, named collection flows, currency separation, reconciliation, and payment operations across GBP, EUR, USD and AED. These accounts require enhanced review and prior approval before any account details are issued. Local Business Accounts for regulated and financial businesses are available only after enhanced review and prior approval. Approval depends on the business model, licence or registration status, jurisdiction, ownership, payment purpose, currencies, counterparties, expected activity, and ongoing compliance review. ## What this page is about Unicorn Currencies Local Business Accounts give selected financial services businesses local account details in GBP, EUR, USD and AED where approved. Accounts are provided as named local collection accounts — not bank accounts — and are used for receiving, holding available balances, reconciliation, conversion and payment operations through Unicorn Currencies after enhanced review. ## Who it may fit - Licensed or registered financial services businesses with documented AML/CTF controls - Businesses that need currency-separated receiving and reconciliation across GBP, EUR, USD and AED - Teams that can explain payer types, beneficiary types, and flow of funds clearly - Businesses prepared for enhanced onboarding, prior approval, and ongoing compliance review ## Who it will not fit - Unlicensed businesses where a licence or registration is required - Unclear source of funds - Unclear flow of funds - Unsupported jurisdictions - Businesses unable to provide customer due diligence and transaction evidence - Prohibited activity ## How a Local Business Account can be used - Receive funds using local account details - Separate GBP, EUR, USD and AED flows - Hold available balances - Reconcile by payer, customer or currency - Convert and pay suppliers or beneficiaries through Unicorn Currencies ## Enhanced review requirements - Corporate documents - Ownership and control structure - Licence or registration evidence - AML/CTF policy - Sanctions and PEP screening process - Customer onboarding process - Transaction monitoring process - Flow of funds - Expected currencies, corridors and volumes - Payer and beneficiary types - Sample transaction rationale - Supporting documents where requested ## Approval process - **Submit business profile:** Share entity details, jurisdictions, and payment purpose before review begins. - **Complete enhanced onboarding:** Provide ownership, control, and operational context beyond standard business onboarding. - **Provide licence and compliance documents:** Submit registration, AML/CTF, screening, and monitoring documentation where applicable. - **Review payment purpose and expected flows:** Treasury and compliance assess currencies, corridors, payers, beneficiaries, and activity. - **Obtain prior approval where required:** Some profiles require explicit approval before any Local Business Account can proceed. - **Account details issued only if approved:** Local account details are not issued until onboarding, enhanced review, and required approvals are complete. - **Ongoing review continues after activation:** Activity, jurisdictions, counterparties, and compliance posture are reviewed on an ongoing basis. ## Pricing Pricing for regulated and financial businesses is confirmed after review. Published Local Business Account pricing applies to low-risk approved business profiles only. Enhanced-review businesses may be priced differently based on risk, activity, volume, currencies, jurisdictions and compliance requirements. ## Compliance note Local Business Accounts are provided as named local collection accounts. They are not bank accounts. Availability is subject to onboarding, enhanced review, prior approval, currency availability, payment purpose, jurisdiction, counterparty profile and ongoing compliance review. ## FAQ **Q:** Can MSBs apply for a Local Business Account? **A:** Money Service Businesses may apply where they are licensed or registered as required, complete enhanced onboarding, and receive prior approval. See the MSB page for MSB-specific context. **Q:** Can FX firms apply? **A:** Foreign exchange firms may apply where they are appropriately licensed or registered, complete enhanced review, and receive prior approval. See the foreign exchange firms page for FX-specific context. **Q:** Can remittance companies apply? **A:** Remittance companies may apply where they are licensed or registered as required, complete enhanced review, and receive prior approval. See the remittance companies page for remittance-specific context. **Q:** Can CFD brokers apply? **A:** CFD brokers may apply where they are appropriately licensed or registered, complete enhanced review, and receive prior approval. See the CFD brokers page for broker-specific context. **Q:** Are accounts guaranteed? **A:** No. Local Business Accounts are not automatically issued. Approval depends on business model, licence or registration status, jurisdiction, ownership, payment purpose, currencies, counterparties, expected activity, screening results, and ongoing compliance review. **Q:** Is this a bank account? **A:** No. A Unicorn Currencies Local Business Account is provided as a named local collection account for approved businesses. It is designed for receiving, holding available balances, reconciliation, conversion and payment operations through Unicorn Currencies. **Q:** What documents are required? **A:** Enhanced review typically requires corporate documents, ownership and control structure, licence or registration evidence, AML/CTF policy, sanctions and PEP screening process, customer onboarding process, transaction monitoring process, flow-of-funds explanation, expected currencies and volumes, payer and beneficiary types, sample transaction rationale, and supporting documents where requested. **Q:** How long does enhanced review take? **A:** Timing depends on the quality and completeness of documents, business model complexity, ownership structure, jurisdictions, licence status, payment purpose, and compliance review requirements. Unicorn Currencies does not quote a fixed approval timeline for enhanced-review profiles. **Q:** Can account details be issued before approval? **A:** No. For regulated and financial businesses, Local Business Account details are issued only after onboarding, enhanced review and any required prior approval have been completed. **Q:** Can pricing differ from published pricing? **A:** Pricing for regulated and financial businesses is confirmed after review. Published Local Business Account pricing applies to low-risk approved business profiles only. Enhanced-review businesses may be priced differently based on risk, activity, volume, currencies, jurisdictions and compliance requirements. ## Related regulated pages - [All Business Accounts](https://unicorncurrencies.com/business-accounts/) - [MSBs](https://unicorncurrencies.com/business-accounts/for-msbs/) - [FX firms](https://unicorncurrencies.com/business-accounts/for-foreign-exchange-firms/) - [Remittance companies](https://unicorncurrencies.com/business-accounts/for-remittance-companies/) - [CFD brokers](https://unicorncurrencies.com/business-accounts/for-cfd-brokers/) - [Banks & financial institutions](https://unicorncurrencies.com/business-accounts/for-banks-and-financial-institutions/)