IBAN accounts

How Paynetics adds value:
cost effective and fully functional IBANs

SCROLL DOWN

IBAN accounts

Introduction

The International Bank Account Number (IBAN) is an internationally agreed system of identifying bank accounts across national borders, and enables more reliable international money transfer services. As a principal member of SWIFT and SEPA we offer fully functional IBAN accounts with the same facilities as regular bank accounts, while at the same time reducing administrative costs and complexity. Our clients, individual or business, receive a dedicated IBAN for SEPA and international payments. No more virtual IBAN - at Paynetics, we instantly provide you with your own multi-currency IBANs which are ideal for cross-border payments.

Efficient

Multi-currency IBANs for cross border payments

Fast

Fast, easy, and reliable way to get your own IBAN

Digital

Remote account opening

some of our clients

What is the process of opening an IBAN

We have automated the process so that you can get your IBAN in just a few quick steps. The process is fully digital with minimum required set of documents. Our partners can create and offer IBANs in their own or their customer’s name, open European and international markets to their customers and expand their business potential.

Advantages of opening an IBAN account with Paynetics:

  • Streamlined process with less bureaucracy
  • Fast on-boarding and quick payment processing. Fully automatic procedure
  • 100% digital - skip the queues and application forms and get up and running quickly
  • Make and receive cross-border bank transfers on your IBAN account
  • No need to open multiple accounts for individual currencies, our IBANs support different currencies in one single account
  • Instant payouts and withdrawals from your business to your personal IBAN

IBANs via API Platform

We have developed an API Platform which allows our partners to create their IBANs automatically, with no human interaction required. The API Platform also allows you to receive real-time information about transfers and balances. Opening and managing IBANs via our API Platform will enable you to efficiently monitor and manage your payments.

All the IBANs issued by Paynetics are EUR denominated SEPA accounts, enabling you to accept same-day payments throughout Europe at almost no cost to your customers. Using our flexible API Platform, our partners can create user-friendly, compliant, and cost-efficient payment and banking solutions.

The IBAN as a hub for efficient transfers

Our clients use their IBAN accounts as the hub to manage their payments. We offer convenient and reliable ways to send and receive payments from anywhere and in multiple ways. We support our partners with solutions to improve liquidity, streamline working capital and ultimately reduce costs, safeguarding a secure, flexible, and reliable payment infrastructure. These include bank transfers, eWallet payments, card payments.

Paynetics provides settlements in different currencies and via different payment options. Our clients are able to make a range of transfers or payments: SEPA transfers, International transfers, Internal transfer, Batch payments, Peer-To-Peer, Pay by link, QR Pay, Card Loading, Direct Debit, Payment Card.

Our extensive features and the ability to attach IBANs to eWallet opens a wide range of further possibilities for your business. Our partners can use our adaptable technology to create a payment flow matching your platform’s needs and specifications. This creates an easy, fast, and convenient way to send and receive money.

When we issue cards, we can link dedicated IBAN accounts to these cards, substantially improving the value proposition and creating a range of opportunities for product innovation, improving the economics for both top-ups and pay-outs. We make our physical and virtual cards bankable, which creates a platform for further opportunities for our partners. Our issuing clients can now, besides executing card payments worldwide, send and receive wire transfers globally.

The use of a Paynetics IBAN account creates a number of advantages for our PSP partners and direct merchants also. For our merchant clients, we use their IBAN accounts for directing the settlement proceeds, which speeds up the process and reduces the time to cash. Our PSP partners use the account for settlement with the merchants they manage. Having all the payment solution in one place increases efficiency and removes friction.

IBAN Sponsorship

Through our IBAN Sponsorship program we can help you bring IBAN accounts to your business quickly and conveniently. As Paynetics is a regulated e-money institution, our partners can perform many of the operations of a financial institution through us. We empower you to manage your own programs such as eWallet accounts without the need for an individual e-money license.

With our IBAN solutions we open up a range of new and innovative online financial service opportunities for the benefit of everyone in our ecosystem. Our partners, program managers, SMEs or fintechs can now provide their customers with the financial services they need every day – they do not have to go to the bank and pay extra for financial services anymore.

Need IBAN accounts solution for your business?

Our team of experts will contact you soon

get in touch
Discover all solutions