A licence without a bank account is a licence that cannot operate. Payment institutions need safeguarding accounts, crypto-asset service providers need fiat rails, card programmes need a BIN sponsor — and each of these partners runs its own, often long, onboarding. This guide explains what regulated and fintech businesses need from banking partners, why onboarding fails, and how our introductions work.
The guide is general information. Every bank and payment provider decides on its own customers; an introduction is not a guarantee of an account.
What different businesses need
- Payment and e-money institutions — an operating account and a safeguarding account with a credit institution, designated as holding customers' funds;
- crypto-asset service providers — a bank or e-money institution that accepts crypto-related flows for fiat deposits and withdrawals;
- businesses with international flows — multi-currency IBAN accounts with local payment rails in several currencies;
- card programmes — a BIN sponsor (a principal member of a card scheme) and a processor.
Why onboarding fails
- the file does not explain the business model, the flows of funds and the customer base in the partner's language;
- the AML framework is not ready, or does not match the business described;
- the jurisdictions of customers or owners are outside the partner's risk appetite — which only the right introduction reveals early;
- the application goes to many partners at once with different answers.
Our introductions
- extended banking onboarding — : a prepared onboarding file and introductions to six banking and payment partners that fit your profile;
- premium banking onboarding — : a wider network, a tailored file for each partner and follow-up of every application;
- introduction to a crypto-friendly e-money institution — ;
- multi-currency IBAN account set-up — ;
- card issuing / BIN sponsor introduction — .
A company with a simple business and no licence usually starts with a Revolut Business or Wise account. For licensed businesses see also bank accounts for licensed companies and AML rules and safeguarding.
What you receive
- an onboarding file that answers the questions partners ask;
- introductions to partners that accept your profile;
- follow-up until each partner decides.
Prices are starting prices confirmed in a written quote and exclude VAT; partners' own fees are paid to them. All communication takes place by email.
Ready to start? Choose the banking onboarding or introduction you need. Open the quote form.
Frequently asked questions
Can you guarantee a bank account for a licensed company?
No. Every bank and payment provider decides under its own risk policy. We prepare an onboarding file that answers their questions and introduce you to partners that accept your profile, which is what raises the chance of success.
What is a BIN sponsor?
A principal member of a card scheme that lets a programme manager issue cards under its bank identification number (BIN). A card programme needs a BIN sponsor and a processor; the sponsor carries out its own due diligence of the programme.
Related guides
- DORA: ICT risk framework and register of information
- Compliance audit for regulated firms
- Supervisory reporting after authorisation
More on this topic: Compliance services.