Virtual IBAN Account (B2B)

Virtual IBAN Account (B2B)

Monneo issues B2B (Business-to-Business), multi-currency, Virtual IBAN accounts at its leading European banking partners. As Monneo is an Authorised Payment Institution, authorised and regulated by the United Kingdom’s Financial Conduct Authority, it is able to offer clients many alternative banking solutions such as Virtual IBAN accounts.

Monneo provides access through its user friendly core online banking platform from where clients can track the Virtual IBAN account movements, receive funds, and execute payments. Monneo’s Virtual IBAN ‘s support incoming and outgoing payments in the following currencies: EUR, AUD, CAD, CHF, DKK, GBP, HKD, HRK, HUF, JPY, NOK, PLN, RUB, SEK and more in development.

Monneo’s Virtual IBAN account supports incoming and outgoing payments globally though SWIFT, within the Euro Zone by SEPA, and in the United Kingdom by Faster Payments.

Monneo is fully Compliant with the Second European Union Payment Services Directive (PSD 2) which came into force in January 2018. PSD2 is a significant evolution of existing regulation for the payments’ industry. It aims to increase competition and diversity in the payments’ industry, promote new types of payment services, and enhance customer protection and security.

Open a Corporate IBAN Account

Virtual IBAN Account – frequently asked questions:

Does Monneo’s Virtual IBAN Account supports SWIFT Transfers? (International transfers)
– Yes, our Virtual IBAN Account supports both incoming and outgoing SWIFT transfers used internationally. Currencies supported by the Virtual IBAN account for both incoming transfers and outgoing transfers: EUR, AUD, CAD, CHF, DKK, GBP, HKD, HRK, HUF, JPY, NOK, PLN, RUB, SEK

Does Monneo’s Virtual IBAN Account supports SEPA Transfers? (European EUR transfers)
– Yes, our Virtual IBAN Account supports both incoming and outgoing SEPA transfers in EUR used in 34 SEPA connected countries.

Does Monneo’s Virtual IBAN Account supports Faster Payments, BACS & CHAPS Transfers? (UK transfers)
– Yes, our Virtual IBAN Account supports the UK payment schemes: Faster Payments, BACS and CHAPS via our UK banking partners.

Does Monneo offers a debit card linked to the Virtual IBAN Account?
– Yes, Monneo’s Virtual IBAN Account comes together with a contactless (EUR) MasterCard Debit card directly linked to your Virtual IBAN Account.

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