- Introducing the payment system
- Range of payment system services for corporate clients
- An operating account with the British PSP for a foreign business company
- Current tariffs for international clients of the British PSP
- Loans from the British payment system
- Internet acquiring with the British payment system
- Invoicing with the payment system
- E-commerce for marketplaces
- Open Banking API payment solutions
- Documents required for opening an account with the British payment system
- How to scan the application documents
- How to open a corporate account with the British PSP remotely
You don’t have to use a bank if you need financial services. Payment systems also provide a wide range of banking services. You can open an account with a payment system and use it in the same way that you would use a bank account. Payment systems boast several advantages:
- You can open an account there remotely;
- You can use a wide spectrum of financial instruments including IT instruments, e-commerce, marketing services, and so on;
- The Open Banking API allows connecting to other financial systems and cooperating with them.
We invite you to consider the opportunity to open a corporate account with a British payment system. The cost of our services starts at 2999 EUR.
Please apply for our assistance in setting up a corporate account with a modern financial institution for a non-resident company. With our professional advice, you can do it in a fast and safe manner!
Introducing the payment system
The British Payment Service Provider (PSP) is a virtual platform that offers the following financial services:
- Payments to and from private individuals and corporate entities;
- Cryptocurrency operations;
- Invoicing;
- Installation and service of POS terminals, and so on.
In addition to banking services, the PSP offers assistance in the following areas: website design, Internet marketing, and website security system development.
The payment system is licensed by the British FCA (Financial Conduct Authority). It is registered in the United Kingdom and has offices in London and in Riga, Latvia.
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Range of payment system services for corporate clients
The PSP offers a wide range of financial products to corporate clients from all parts of the world. Foreign companies can set up euro, US dollar, zloty, ruble, and krona accounts as well as accounts in a number of other currencies with the PSP. The account holders get access to their accounts via the Internet. They can use any device that provides Internet connection: a computer, a notebook, a tablet, or a smartphone.
The British payment system offers the following services to corporate clients:
- Money transfers, payments in different currencies;
- Internet acquiring services;
- Invoicing services;
- Loans and trade financing;
- Installation and service of POS terminals (available only in Baltic countries);
- Escrow accounts;
- Website development and marketing (web design, development of websites and Internet shops, their promotion, security audit, and so on);
- Services for cryptocurrency projects: current accounts, transaction processing, and crypto trading.
In addition to the wide choice of national currencies and remote account opening, the PSP clients enjoy 24/7 multilingual client support.
The terms of providing a payment channel for a client depend on the jurisdiction and activity of the company, and can only be determined after reviewing the company’s documents and activity.
Please inspect other opportunities to open a corporate bank account in Great Britain. We will gladly provide expert support in the matter to you.
An operating account with the British PSP for a foreign business company
If you are engaged in international business operations and you need to make transactions in different currencies, the British payment system will suit you very well. Its clients have access to the following additional financial instruments:
- Multicurrency accounts;
- Currency conversion;
- Payment templates;
- Import of payments from other databases;
- A corporate payment card for fast payments abroad, and so on.
Current tariffs for international clients of the British PSP
| Service | Foreign | Local (EEA resident) |
| Account opening (application document processing) | 1,000 EUR | 150 EUR |
| Operational account maintenance | 100 EUR | 20 EUR |
| Inactive account fee (applied if the number of external payments is less than 2 per month) | 100 EUR | not applicable |
| Capital custody commission (per year) | from 0.5% | 0% |
| Account closure | 300 EUR | |
| Incoming payments | free | free |
| Internal transfers | free | free |
| EUR transfers within European Economic Area | from 45 EUR to 100 EUR | from 0.35 EUR to 100 EUR |
| EUR transfers outside EEA | from 75 EUR | from 75 EUR |
| Transfers in foreign currencies all around the world | from 20 EUR | from 25 EUR |
| Initial issuance of payment card | Cost is included in the application document processing fee | |
| Subsequent issuance of payment card | 50 EUR | |
The European Economic Area includes the following countries: Iceland, Norway, Liechtenstein, and the 28 EU member states. Residents of the UK and EEA can use the PSP services at the rates described above if they satisfy the following criteria:
- Their corporate entity is registered in the EU;
- The head office is located in the country of company registration;
- The company’s beneficial owner is a resident of the country where the company is registered.
Express money transfer services are also available to the clients of the British payment system. The transfer can be made within 2 hours. The express transfer commission is 30 EUR.
Loans from the British payment system
Corporate clients of the British PSP can take out working capital loans or loans for purchase of fixed company assets.
Credit terms in 2023:
- Credit amount – from 1 to 8 million EUR;
- Maximum contract duration – 10 years;
- Interest rates – 5% to 8 % depending on the risk level (if the loan amount exceeds 1 million euros, the interest rates can be lower).
Financing upon the security of primary commodities can be as high as 50% to 70% of the commodity value. The loans can be used for purchasing goods (in export-import operations) and paying for the purchased goods (in payment deferral situations).
Internet acquiring with the British payment system
Internet shop owners will be interested in this opportunity provided by the British PSP. The Internet acquiring service allows accepting payments from any bankcard, which will certainly increase the number of sales as well as the shop owner’s income.
You will have access to the following items if you apply for this service:
- A personal area on the website to control the sales statistics;
- Webpage customization opportunities;
- 9 ready-made API modules;
- Operations in more than 30 national currencies and localization to any language;
- Remote access and client identification.
The Internet acquiring applications can be installed remotely. Not more than 7 days are required to complete the installation process.
Invoicing with the payment system
The system allows making out invoices and accepting online payments, payments via email and SMS. Production companies, trade companies, service providers as well as self-employed individuals such as designers, tutors, coaches, etc. can make use of the invoicing services that the British PSP offers.
The contract for the services can be made remotely. When the contract is signed, the PSP specialists will integrate the service with the client’s personal area on the payment system website.
E-commerce for marketplaces
The following opportunities are also available with the British payment system:
- SEPA Instant payments, security protocols, and payroll programs;
- Two separate accounts: one for covering administrative costs and one for making/ receiving business payments;
- Competent technical support and a personal manager.
Open Banking API payment solutions
Alternatively to being paid to your card, you can accept SEPA payments from European banks. Open Banking API is a technology that allows the banks to connect to other financial systems and cooperate with them.
Documents required for opening an account with the British payment system
A foreign national wishing to set up an account with the British PSP has to fill in, sign, and scan the application forms in a neat manner. The scans have to be of high quality and easily readable. The images have to be made in color and contain no intrusive elements.
Images in the following formats are acceptable: jpg, jpeg, png, pdf, and bmp.
All the company owners and directors have to supply the following documents when applying for opening an account with the British PSP:
- A notarized passport copy;
- A proof of residential address (a utility bill, a rent agreement, etc. – originals or notarized copies);
- A short résumé.
The following corporate documents have to be supplied:
- Certificate of Company Formation/ Registration;
- Memorandum and Articles of Association/ Bylaws/ Operating Agreement;
- Documents confirming business activities (bank statements, declarations, financial reports, certificates of registration with fiscal bodies, etc.);
- Information about the types of the business activities that the company is engaged in, main partners, payment schemes, fixed assets, etc.
Please note that all the application documents need to be translated into English (if applicable) and notarized. The Compliance Department of the British payment system may request additional documents.
How to scan the application documents
The document serving as a proof of address has to be fully visible. You can use the following documents:
- Your passport if your place if residence is indicated there;
- A bank statement with your name and address;
- A document issued by a state agency that carries your name and address;
- A utility bill (household gas, electricity, residential telephone, Internet connection, etc.). Mobile phone bills are NOT accepted.
In addition, you have to take a selfie holding your passport next to your face.
Requirements to the selfie:
- Your face and your passport have to be clearly visible in the photo without overlapping each other;
- The passport has to be readable in the photo;
- The photograph has to be of high quality, well-lit, and made against a bright one-color background;
- The photo has to be en face;
- You shouldn’t be wearing a hat in the photo;
- Your facial expression should be natural, without any grimaces.
The compliance department of the British payment system is going to take at least 7 days to process the application documents when you submit them. There is an accelerate document processing opportunity, however. You can set up an account with the British PSP within only two days for an additional fee of 500 EUR (for EEA residents) or 2,000 EUR (for non-residents of the EEA).
How to open a corporate account with the British PSP remotely
You have to complete a few simple steps to set up an account with the British payment system without leaving the comfort of your home:
- Write to info@offshore-pro.info and request the service.
- Cover the service cost. We accept payments by a bankcard, a bank transfer, via payment systems such as PayPal, or Western Union. We also accept payments in Bitcoin and other cryptocurrencies. The cost of the service starts at 2999 EUR.
- Supply all the required application documents.
- Gain access to the person area on the company website and enjoy all the financial and other opportunities that the British PSP offers.
If you have any questions remaining, please contact us without any hesitation. We will be happy to help you in any way we can.
