Safeguarding accounts

Safeguarding supercharged

Bank accounts for safeguarding your customers' monies to fully comply with your legal and regulatory requirements.

Up to
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AER
Safeguarding accounts
  • ‍Purpose: Ensure compliance with FCA Safeguarding requirements through a pooled account, with the option to utilise VIBAN’s per customer for enhanced reconciliation.‍
  • Eligible clients: ‍Payment Institutions, Small Payment Institutions and some Open Banking Providers such as Payment Initiation Service Providers and Electronic Money Institutions.
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Up to
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AER
Virtual accounts
  • Virtual Accounts are created under a physical account, allowing for creation of complex nested hierarchies reflecting your business needs.
  • Each Virtual Account is assigned an externally addressable Virtual IBAN (vIBAN), facilitating precise transaction routing and enhanced reconciliation.
  • Clients can manage these accounts through the Bank's Client API, enabling seamless integration with your existing systems.​
  • The system supports base rate tracker interest, which can be configured per Virtual Account via the Client API (for eligible accounts).
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*‘AER' means ‘annual equivalent rate' and is designed to make it easy for you to compare products. It tells you how much interest you'd earn if you put some money in an account and left it there for a full year. It takes account of things like how often the interest is paid and assumes any interest paid during that year is added to the balance and earns interest.**Interest is accrued daily each recognised business day in England and Wales, and applied monthly.
We serve
Regulated Institutions
Businesses and Corporates
Electronic Money Institutions
Payment Service Providers
Banks & neo-Banks
Start-ups & Fintechs
Crypto & Digital Assets Firms

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Access to our products, services and payments capabilities with zero code or integration.

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Client API & Sandbox

Integrate directly into our technology stack to deliver a secure and scalable solution to your customers.

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The future of banking

Real-time access to payment infrastructure and interbank networks though API or Online Banking

faster payments

Clear up to £1m per transaction in real-time with instant payments 24/7/365, supporting immediate or forward-dated payments via Online Banking or Payments API.

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Bacs

Clear up to £20m in Direct Debit and Direct Credit transactions, with a 3-day settlement Monday to Friday, initiated via Payments API or online banking.

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CHAPS

Clear high-value transactions in real-time with same-day settlement, Monday to Friday, via Online Banking or Payments API.

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Trusted by 5000+ clients
Brac Saajan
Kabayan Remit
Flagstone
Fimple
Waafi
Brac Saajan
Kabayan Remit
Flagstone
Fimple
Waafi

‍Client money accounts
Ensure compliance with CASS, SRA, and CMP regulation through a pooled account, with the option to utilise vIBAN’s per customer for enhanced reconciliation.

Eligible deposits covered by FSCS protection.

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Savings accounts‍

Earn competitive interest rates, FSCS-protected, while all deposits are held securely at the Bank of England.

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Operating accounts
Next-generation banking designed to give you full control over your operational cash flow and financial operations with agile instant access, secure transfers, and smart domestic payment options in real-time.

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Peace of mind with FSCS protection
The Financial Services Compensation Scheme (FSCS) is the United Kingdom’s independent deposit guarantee scheme, and it protects eligible deposits with authorised banks, like ours.
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