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    Expert Consultation

    Open an EMI Account in United Kingdom

    Open an international payment solution in the UK through a bank account or Electronic Money Institution (EMI). Such accounts allow businesses to receive and send global payments, manage multiple currencies, and access UK payment networks without opening a traditional bank account. Our team helps entrepreneurs and companies choose a suitable UK payment provider, prepare the required documents, and successfully complete the onboarding and compliance process.

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    UK Payment Account at a Glance

    FeatureDetails
    Account typeCorporate payment / multi-currency account
    LocationUnited Kingdom
    Currency optionsDepending on the selected provider
    Local GBP paymentsAvailable with supported providers
    International paymentsAvailable depending on provider
    Corporate cardsAvailable with selected providers
    Remote onboardingAvailable with many providers
    Non-UK companiesMay be accepted, subject to compliance
    Regulatory frameworkFCA-regulated Electronic Money Institutions
    OnboardingSubject to KYC/AML review

    Access Modern UK Payment Infrastructure for International Business

    The United Kingdom is home to the world’s second-largest fintech sector, and through a Licensed Electronic Money Institution (E.M.I.), you will have an opportunity to utilize a sophisticated payment system as part of your business.

    Accessing a UK payment account provides international businesses with digital financial infrastructure designed for efficient cross-border operations that includes:

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    Multi-Currency Accounts

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    GBP Local Payment Capabilities

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    Cross-Border Wire Transfers

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    Currency Exchange

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    Corporate Physical/Virtual Cards

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    Payment Collection Solutions

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    Account Management

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    Online API Integrations & Automated Payments

    Available services are dependent upon the selected payment service provider, along with your company's business model, ownership structure, countries of operation, and transaction profile. Offshore Pro Group can help identify UK payment options aligned with your needs while assisting you during the on-boarding process.

    Why Open a UK Payment
    Account?

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    FCA-Regulated Financial Services

    UK EMI's are established within a well-regulated environment as governed by the UK Financial Conduct Authority (FCA), providing businesses with direct access to financial services, including payment services, via FCA-authorized or regulated service providers.

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    Multi-Currency Business Accounts

    Hold, receive, exchange, and transfer multiple currencies through a single account, helping reduce the complexity of managing international business payments.

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    Fast Remote Account Opening

    With many UK electronic money institutions supporting remote onboarding, eligible businesses and start-up entrepreneurs can now open bank accounts remotely, eliminating the need to physically travel to the UK to establish their banking requirements.


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    Flexible Solutions for International Businesses

    Many UK electronic money institutions support companies that have been registered internationally, which makes these UK-based electronic money institution options very attractive to international businesses that are engaged in cross-border trading and/or providing services.

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    Digital Account Management

    Eligible customers will be able to manage all aspects of their digital bank accounts, including payments, account balance, beneficiaries and transaction history, etc., digitally through secure online portals with several electronic money institutions now also offering API integration with third-party systems for automated processing.

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    Business Payment Tools

    Depending upon the provider, eligible businesses may also gain access to other corporate banking tools such as corporate payment cards, foreign exchange services, payment collection solutions, international transfer facilities, and other additional corporate banking tools through a single platform.

    Who Can Apply for a UK Payment Account?

    The below are examples of types of international trade companies that may benefit from opening a UK-based payment solution:

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      Companies involved in e-commerce.
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      Technology companies (SaaS, etc.)
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      Consultants.
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      Other Professional Service Providers.
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      Businesses engaged in import/export activity.
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      Holding Companies.
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      Entrepreneurs conducting cross-border transactions across several jurisdictions.

    As well as UK EMI's many of whom will also have access to non-uk incorporated entities providing they meet the compliance requirements of the provider as it relates to; the owners of the company, the type of business conducted by the company, the jurisdiction(s) where the company conducts business and expected volume of transactions.

    UK EMI Account vs Traditional UK Bank Account

    Although electronic money institutions (EMI) and banks can both be used as a means of transferring and receiving funds electronically by businesses, the two entities have differences related to how businesses go about setting up an account, what services they may use once their account is set up, and the type of business that each entity's customers typically operate. The primary function of electronic money institutions operating within the United Kingdom is payment services and not traditional lending such as mortgages, overdrafts, etc.

    FeatureUK EMI AccountTraditional UK Bank Account
    Primary purposeDigital payment servicesFull-service banking
    Multi-currency supportCommonly availableVaries by bank
    International transfersCore serviceAvailable, often with higher fees
    Remote account openingFrequently availableMay require additional verification or in-person steps
    Corporate cardsAvailable with selected providersCommonly available
    Currency exchangeOften integratedUsually available
    Lending and credit facilitiesGenerally not offeredSubject to approval
    OverdraftsNot availableMay be available
    Client fundsSafeguarded under EMI regulationsProtected under banking regulations
    Suitable for international businessesYesDepends on the bank and customer profile

    IBAN vs EMI: What Can a Modern EMI Offer?

    While an IBAN enables you to both receive and pay money via IBAN, a UK EMI offers a wide variety of financial tools to aid a company's international operation. A UK EMI can also include various different services depending on the provider as well as payment service.

    Multi-Currency Accounts

    The ability to operate multiple currencies from a single account, enabling your business to receive, store, and exchange currency when needed and then make payments abroad using a single platform and without needing to open up separate accounts.

    International Payment Solutions

    UK EMIs offer cross-border trading capabilities by providing payment options that allow your business to transact with your customer/supplier/partner in various country locations all through one system.

    Integrated Currency Exchange

    Conversion of currency is available in the account itself (from one of the supported currencies), which simplifies international payments and reduces the requirement for third-party foreign exchange brokers or banks.

    Digital Business Tools

    In addition to the above, some UK EMIs have provided their clients with access to web-based account management tools, including but not limited to payment tracking, reporting, API integration etc. The aim of these digital tools is to assist companies in automating elements of their financial processes and improve efficiency in managing their payments.

    What Do You Need to Open an Account?

    Typically, all financial service providers require different levels of documentation from applicants to open accounts with them. Generally speaking, they want to see:

    • check circle Documents related to the incorporation of the company
    • check circle Documentation about the board of directors and the shareholders
    • check circle Identification documentation for the ultimate beneficial owner(s)
    • check circle Documentation showing the type of business being conducted by the company
    • check circle Amounts and types of transactions the company plans to conduct on a monthly basis, as well as which countries those transactions will be processed through.
    • check circle Documentation regarding how funds were sourced when required.

    Each application is reviewed under anti-money laundering (AML) and know-your-customer (KYC) regulations.

    Additional documentation may be required depending on the nature of the business, who owns it, and the perceived risk associated with opening an account.

    Available UK Payment Account Solutions

    Offshore Pro Group works with several UK payment providers that offer different account types and business payment services. The most suitable solution depends on your company's structure, jurisdictions of operation, expected transaction volumes, and compliance profile.

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    Provider A: Personal & Corporate Multi-Currency Accounts

    This option provides both personal and corporate payment accounts with multi-currency functionality. It is suitable for individuals and companies that require access to international payments, currency management, and digital account services. The accounts are managed remotely through an online platform and can be opened without visiting the UK.

    FeatureDetails
    Account typeCorporate multi-currency payment account
    EligibilityCompanies (including non-resident businesses) that successfully complete KYC/AML verification and provide corporate documentation, beneficial owner information, proof of business activity, and source of funds.
    Minimum opening depositNo minimum opening deposit specified.
    Supported currenciesEUR, USD, GBP, PLN, CZK, and a wide range of other international currencies.
    IBAN/account detailsDedicated corporate account with payment details for international transactions. Multi-currency accounts available.
    Cards issuedCorporate payment cards available for international business expenses.
    Remote onboardingYes. The account can be opened and managed entirely online without visiting the UK.
    Non-residents allowedYes. Available to foreign companies and non-resident business owners, subject to compliance approval.
    Typical processing timeStandard compliance review takes at least 7 business days after all required documents have been submitted. Expedited review is available (2 business days for an additional fee).
    Payment networksSEPA, SEPA Instant, SWIFT, and Open Banking API connectivity.
    Currency exchangeMulti-currency accounts with integrated foreign exchange services.
    International paymentsSend and receive international payments in multiple currencies, including supplier and customer transactions worldwide.
    Online bankingSecure online platform accessible from desktop and mobile devices with 24/7 account access.
    Additional financial servicesInternet acquiring, invoicing, escrow accounts, trade finance, business lending, payment templates, payment import, and cryptocurrency payment solutions.
    E-commerce toolsInternet acquiring, Open Banking payment solutions, API integration, payment page customization, marketplace payment solutions, and support for more than 30 transaction currencies.
    Business financingBusiness loans (€1-8 million), trade finance, and commodity-backed financing available, subject to approval.
    SecurityFCA-authorized payment institution with secure digital banking infrastructure.
    Customer support24/7 multilingual customer support and dedicated account assistance.
    RestrictionsAccount approval depends on the company's jurisdiction, ownership structure, business activities, and compliance profile. Payment channels are assessed individually.
    Apply for a Business Account
    FeatureDetails
    Account typePersonal multi-currency payment account
    EligibilityIndividuals aged 18+ who successfully complete KYC/AML verification and provide proof of identity, address, and source of funds.
    Minimum opening depositNo minimum initial deposit.
    Supported currenciesEUR, USD, GBP, and more than 30 additional currencies.
    IBAN/account detailsDedicated personal IBAN assigned for the duration of the account. SEPA and SWIFT payment details available for supported currencies.
    Cards issuedA physical payment card is included (subject to an issuance fee), and virtual cards are available. Contactless payments are supported.
    Remote onboardingYes. The account can be opened and managed entirely online without visiting the UK.
    Non-residents allowedYes. Available to non-residents, subject to successful compliance checks.
    Typical processing timeCompliance review typically takes 2-5 business days after all required documents have been submitted.
    Payment networksSEPA, SEPA Instant, SWIFT, and Open Banking API connectivity.
    Currency exchangeExchange supported currencies within the account.
    Online & mobile bankingOnline platform and mobile application with 24/7 account access.
    SecurityTwo-factor authentication and PCI DSS-certified payment infrastructure.
    Savings productsOptional fixed-term deposits and savings accounts available.
    RestrictionsCertain high-risk industries and sanctioned jurisdictions are not accepted.
    Apply for a Personal Account
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    Option 2: Fintech Provider — Corporate Account in the UK

    This UK fintech solution provides a modern alternative to traditional banking for internationally active businesses. Designed for non-resident companies and cross-border operations, it offers a corporate payment account with remote account management, dedicated IBANs, multi-currency support, and access to international payment infrastructure. Applications are subject to compliance review and can typically be processed within a few business days.

    FeatureDetails
    Account typeCorporate payment account
    EligibilityCompanies that successfully complete KYC/AML and compliance checks. Available to non-resident companies, subject to approval.
    Suitable forInternational businesses, trading companies, technology firms, professional services, import/export businesses, and companies with cross-border payment needs.
    Minimum opening depositNo minimum balance requirement specified.
    Supported currenciesMulti-currency account supporting major international currencies, including GBP, EUR, and USD.
    IBAN/account detailsDedicated corporate IBAN and local account details for business payments.
    Cards issuedBusiness payment cards may be available depending on the account configuration.
    Remote onboardingYes. The application process is completed online, although additional verification or documentation may be requested during compliance review.
    Non-residents allowedYes. The solution is specifically intended for eligible non-resident companies.
    Typical processing timeA decision is typically made within a few business days after all required documentation has been submitted and verified.
    Payment networksInternational payment capabilities, including support for SEPA and SWIFT transfers.
    Currency exchangeIntegrated foreign exchange for supported currencies.
    Online bankingSecure online platform with 24/7 access to account balances, payments, and transaction history.
    API integrationAPI connectivity available for business payment automation and system integration.
    Additional servicesMass payments, international business payment solutions, and support for companies operating across multiple jurisdictions.
    Security & regulationOperated by a UK Electronic Money Institution (EMI) licensed in the United Kingdom and subject to UK regulatory requirements.
    RestrictionsApproval depends on the company's jurisdiction, ownership structure, business activities, expected transaction profile, and overall compliance assessment.
    Apply for a Business Account
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    Option 3: Corporate Multi-Currency Account for International Business

    This UK payment solution is designed for small and medium-sized businesses operating internationally. It provides a dedicated corporate IBAN, access to more than 20 currencies, multiple global payment networks, and digital account management through a secure online platform.

    FeatureDetails
    Account typeCorporate multi-currency payment account
    EligibilitySMEs and international businesses that successfully complete KYC/AML and Due Diligence procedures. Companies must provide corporate documentation, shareholder information, proof of business activity, and supporting financial records where applicable.
    Suitable forSMEs, wholesale traders, import/export businesses, marketplaces, e-commerce companies, IT businesses, marketing agencies, affiliate networks, family offices, and holding companies.
    Minimum opening depositNo minimum opening deposit specified.
    Supported currenciesMore than 20 currencies, including GBP, EUR, USD, PLN, CHF, and others.
    IBAN/account detailsDedicated individual corporate IBAN with direct account details for international business payments.
    Cards issuedPayment cards planned for future release.
    Remote onboardingYes. The account can be opened entirely online without visiting the UK.
    Non-residents allowedYes. Companies and beneficial owners from most jurisdictions are accepted, subject to compliance review. Residents of restricted countries may be eligible if they hold citizenship, permanent residence, or a residence permit in another country.
    Typical processing time5–7 business days following successful Due Diligence and submission of all required documentation.
    Payment networksSEPA, SWIFT, TARGET2, Faster Payments, ACH, Bacs, CHAPS, and other international payment methods.
    Currency exchangeMulti-currency account supporting international payments and foreign exchange across supported currencies.
    Online bankingSecure online banking platform with a multifunctional dashboard and 24/7 account access.
    API integrationAPI access available for payment automation and system integration.
    Relationship managerDedicated personal account manager provided.
    Security & regulationLicensed UK payment institution operating under the UK financial regulator and subject to due diligence and AML/KYC procedures.
    Pricing plansFour account plans are available: Silver, Gold, Platinum, and Infinity, designed for different business sizes and transaction volumes.
    RestrictionsHigh-risk businesses such as unlicensed financial services, Ponzi schemes, MLM, unlicensed gambling, counterfeit goods, adult content, offshore banks, weapons, tobacco, alcohol, and certain cryptocurrency businesses may be declined or reviewed individually.
    Apply for a Business Account

    How to Open a UK Payment Account

    01

    Initial Consultation

    Our team will assess your company's operation, its corporate structure, where it is established, which of your customers are in which countries, and what you require from a payment perspective.

    02

    Provider Selection

    Based on your company profile, we will be able to select a number of service providers that meet your needs.

    03

    Document Preparation

    We can assist in preparing all corporate, personal, and commercial documentation necessary to open a bank account.

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    Application Submission

    Once the correct documents have been prepared and gathered, we submit them to the selected service provider as part of the onboarding process.

    05

    KYC & Compliance Review

    After receiving the submitted documentation, the bank/service provider will conduct a compliance/KYC (Know Your Customer) review of your company and its owners/shareholders and their interests, and your company’s business operations and projected transaction volume.

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    Account Activation

    Once a KYC & compliance review is completed successfully (and the application has been accepted), the payment account will be activated. Your account details, along with access to all services supported by the payment account, will then be provided, enabling you to make, receive, manage, and use other compliant features of the account.

    Costs

    Opening a UK EMI account is subject to fees which can be determined by a variety of factors, such as the chosen payment provider, the type of account you have, how many transactions you will make per month, or other services you require for your business.

    Offshore Pro Group's typical fee for opening a UK Corporate Payment Account is usually in excess of €2,999 (depending on the service provider chosen & the amount of help you need). The ongoing maintenance costs and/or transaction costs vary depending upon the service provider; however, we provide an example of some of the typical costs listed within the chart above.

    ServiceIndicative cost
    Account opening / application reviewFrom €20 for personal accounts; corporate account opening through Offshore Pro Group starts from approximately €2,999
    Monthly account maintenanceOften free, depending on the provider and tariff plan
    Incoming paymentsUsually free
    Transfers between accounts within the same payment systemUsually free
    SEPA transfers (EEA)From approximately €0.35 for standard transfers; higher-value transfers may incur additional fees
    International SWIFT transfersTypically €20–100+ depending on the destination, currency, transfer value, and correspondent bank charges
    GBP transfersAround €20–30 for standard transfers; express transfers may incur additional charges
    Foreign currency exchangeExchange rates and conversion fees apply, typically around 3% where account and transaction currencies differ
    Funding an account by payment cardApproximately 3% of the transaction amount
    Physical payment cardsFirst card may be included; replacement cards approximately €25, with monthly maintenance from €2
    Virtual payment cardsFirst virtual card often free; additional cards approximately €2 each plus monthly maintenance
    ATM cash withdrawalsAround 2% of the withdrawal amount (minimum fee may apply)
    Courier delivery of payment cardsApproximately €25 (standard postal delivery may be free)
    SWIFT payment confirmationApproximately £50
    Transfer cancellationApproximately £25 for internal transfers and £120 for external transfers
    Compliance or enhanced due diligence reviewAdditional charges may apply for complex compliance reviews or sanctions screening
    Account confirmation or audit lettersAvailable for an additional fee, depending on the document requested

    The exact pricing depends on the payment provider selected, the account package, and your company's transaction profile. Offshore Pro Group can help compare available UK EMI solutions and identify the most cost-effective option based on your business requirements.

    Discuss Your Requirements

    How Offshore Pro Group Can Help

    Opening a corporate payment account could be difficult when the business owner is a foreigner to that country and has international operations. Offshore Pro Group can help you in these ways:

    Eligibility assessment icon

    Eligibility assessment

    Determine how many of your business activities qualify for an open account using one of our payment providers.

    Provider selection icon

    Provider selection

    Recommend a payment provider based on your business type(s), jurisdiction(s), and what payment service requirements you need for your business.

    Application preparation icon

    Application preparation

    Support you in collecting all documents or information needed to get started with your new provider.

    KYC/AML support icon

    KYC/AML support

    Provide your new provider with concise and clear information about your business, ownership structure, and funding sources.

    Application coordination icon

    Application coordination

    To act as a liaison between yourself and your new provider while they onboard you into their system.

    Compliance queries icon

    Compliance queries

    If at any point your new provider needs additional clarity or documentation, we will be happy to answer questions and assist you.

    Offshore Pro Group is there to support you in preparing a complete and correct application. All applications submitted by our clients will still require final review and approval by each respective provider.

    Frequently Asked Questions

    Can a non-UK company open a UK bank account?

    Yes, it's possible to open a UK account if you’re from another country. There are several electronic money institutions (EMIs) in the UK that welcome applications from overseas entities; each one will need to assess your application on a case-by-case basis. Your compliance application can depend on things like the ownership structure of the applicant entity, what types of business it carries out, where the applicant entity operates in different jurisdictions, and how much activity they expect to carry out using their EMI account.

    A uk emi account is very similar to opening a regular bank account. When you open a uk emi account you have access to cash management facilities such as making and receiving payments, holding funds and managing multiple currencies. Unlike traditional banking products, emi accounts do not usually enable customers to borrow, apply for a mortgage or overdraft etc.

    Although requirements vary between providers, applicants are typically asked to provide company incorporation documents, information about directors and shareholders, proof of identity, proof of address, details of business activities, and information about the source of funds. Additional documentation may be requested during the compliance review.

    When looking at opening a UK payment account, the timeframe can vary significantly depending on the provider and whether there are complexities associated with your application. For straightforward applications, assuming all necessary documentation has been submitted, we would expect to be able to open an account within 2 – 7 working days after successfully completing KYC and AML checks.

    In general terms, yes. The majority of UK providers offer a fully remote onboarding service. This allows eligible individuals and companies to complete the entire application process online without having to travel into the United Kingdom.

    The currencies supported by each provider can differ. However, many UK Electronic Money Institutions (EMIs) offer accounts in major currencies including GBP, EUR, USD, CHF, and PLN. Some providers additionally offer over 20 – 30 currencies for international businesses.

    Yes. UK payment accounts are frequently used by e-commerce businesses, trading companies, technology firms, consultants, import/export businesses, holding companies, and other organizations that regularly make or receive cross-border transactions.

    Yes. In line with UK regulatory requirements, all UK Electronic Money Institutions (EMIs) must safeguard client funds. Although EMIs are not banks, customer funds held within a UK EMI account are safeguarded in accordance with these regulations. However, customer funds held with an EMI are not protected under the Financial Services Compensation Scheme (FSCS).

    Yes. Depending on the type of account that you open, you may be able to obtain dedicated account details or an iban for your business/personal account through the selected provider. The specific account details available will vary between different payment solutions.