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Banking Circle Accounts and Virtual Accounts

Company overview

About Banking Circle

What the company provides

  • Processor
  • Payouts
  • Banking provider

Available countries, payment methods, data access, contracts and funds handling depend on the selected product.

Banking Circle is a Luxembourg-licensed B2B bank that provides regulated financial institutions, payment businesses, banks and eligible investment funds with multi-currency accounts, virtual-account structures, local and cross-border payments, agency and correspondent banking, safeguarding accounts, foreign exchange and liquidity services.

Banking Circle's direct client is the regulated business using the infrastructure; an end customer assigned a virtual IBAN does not automatically become a Banking Circle client. The profile does not treat Banking Circle as a retail merchant acquirer: it does not provide card acquiring, a card merchant account, a card MID, a payment gateway or Merchant of Record services.

Founded 2013bankingcircle.comUpdated Aug 15, 2026

Selected product

Banking Circle Accounts and Virtual Accounts

Multi-currency bank accounts for direct institutional clients

Merchant account & merchant review

  1. Account & contracting

    Varies by agreement

  2. Institutional client & product approval

    Banking Circle reviews the direct institutional client and requested banking scope

    The bank reviews legal entity, ownership, regulatory permissions, financial-crime framework, product, jurisdictions and funds flow before activating the contracted account, safeguarding, clearing, payment or FX scope.

Primary legal entity

Banking Circle S.A.

Jurisdiction
Luxembourg
Registration number
B222310
Company type
Public limited liability company

Legal entities by jurisdiction

One legal entity registered in LuxembourgOne jurisdiction

Operating scale

Regulated financial institution clients
≥850 financial institutions
Annual payment volume EUR
1,500,000,000,000 EUR

The legal entity supplying a product can differ by product and country.

Product portfolio

Banking Circle products

Compare institutional accounts and virtual accounts, bank payments and clearing, agency and correspondent banking, and institutional FX and liquidity by account setup, approval, payment or data flow, and contract terms.

Banking Circle Accounts and Virtual Accounts

Role in this product

  • Institutional banking provider

Open eligible multi-currency bank accounts for the direct Banking Circle client and add configured virtual account identifiers for reconciliation, collections on behalf of customers or payments in the client's or customer's name.

The exact account holder, virtual-account naming and payment-on-behalf-of structure is contractual. An assigned virtual IBAN does not create a direct Banking Circle relationship with the client's end customer.

Related services
Business accounts
Features
Accounts, virtual identifiers & bank railsInstitutional account operationsReconciliationReportingCompliance

Local and Cross-Border Payments

Role in this product

  • Payment processor
  • Account & settlement bank

Initiate and receive local, instant, batch, RTGS and SWIFT payments through Banking Circle's direct clearing memberships or disclosed partner-bank routes.

The available route is currency- and market-dependent; direct clearing in one currency does not establish direct clearing or service availability in every listed market.

Related services
Beneficiary paymentsAccount & bank-rail flows
Features
Accounts, virtual identifiers & bank railsBank payment instructions & statusReportingCompliance

Agency and Correspondent Banking

Role in this product

  • Institutional banking provider
  • Scheme participant or correspondent

Give an eligible financial institution or payment service provider indirect access to supported local clearing schemes or correspondent payment capabilities under Banking Circle's banking infrastructure.

The direct client remains responsible for its own regulated customer proposition, licensing, safeguarding duties and end-customer relationship.

Related services
Business accountsAccount & bank-rail flows
Features
Accounts, virtual identifiers & bank railsInstitutional account operationsBank payment instructions & statusCompliance

Foreign Exchange and Liquidity

Role in this product

  • Institutional banking provider
  • Foreign exchange execution

Convert supported currencies and manage settlement liquidity through Banking Circle's account, payment and FX infrastructure.

Currency pairs, pricing, execution method, cut-offs, credit or prefunding requirements and account availability are agreed for each direct client.

Related services
Currency conversion
Features
Accounts, virtual identifiers & bank railsCurrency managementInstitutional account operationsReportingCompliance

Selected product

Banking Circle Accounts and Virtual Accounts

Related services
Business accounts
Features
Accounts, virtual identifiers & bank railsInstitutional account operationsReconciliationReportingCompliance

Institutional client, account holder & payment rights

Who qualifies as the direct bank client, who holds the account, how virtual identifiers are structured and which payment rights are contracted.

01 · Role in this product
Institutional banking provider
02 · Account & contracting
Varies by agreement
03 · Institutional client & product approval
Banking Circle reviews the direct institutional client and requested banking scope
04 · Settlement & funds
Varies by agreement

Selected product: Banking Circle Accounts and Virtual Accounts.

Institutional banking

Banking Circle Accounts and Virtual Accounts: accounts, clearing, safeguarding & FX

Review the approved client type, contracting bank entity, account structure, currencies, clearing routes, safeguarding responsibilities and FX terms.

Selected product: Multi-currency bank accounts for direct institutional clients

Included in Banking Circle Accounts and Virtual Accounts

Features included with this product.

Solutions
Business accounts
Capabilities
Accounts, virtual identifiers & bank railsInstitutional account operationsReconciliationReportingCompliance

Institutional account & banking responsibilities

Who approves the direct client, provides the account or virtual identifiers, moves funds over direct or partner rails and supplies any safeguarding or FX service for Banking Circle Accounts and Virtual Accounts.

Included

Reporting & reconciliation

Banking Circle provides transaction reports and reconciliation data for Multi-currency bank accounts for direct institutional clients through its reporting channels.

Operations data

Which transaction, usage and billing data can finance and operations reconcile?

Reports · Transaction, provider, feature-usage and billing reports

Available
Yes
Access
  • API
  • Client portal
  • SWIFT
  • SFTP
Scope
  • Accounts
  • Balances
  • Transactions
  • Payments
  • Statements
  • Foreign exchange
Payment status
Status timing depends on the direct or partner rail and the selected reporting channel.
Statements
Account statements and transaction reports are available through contracted API, portal, SWIFT or file channels.

Reconciliation

Multiple-provider and multiple-source reconciliation coverage

Automated financial reconciliation
Yes
Automated matching
Yes
Product name
Banking Circle Accounts and Virtual Accounts
Status discrepancy handling
The API, Client Portal, statements and virtual account identifiers expose transaction and account references; the direct client remains responsible for reconciling its own end-customer ledger.
Technical escalation
Yes
Product account · Multi-currency bank accounts for direct institutional clients

What is required to activate this product?

Banking Circle performs institutional due diligence and approves the direct client and requested banking scope.

Company eligibility

Owner, director and operating-location requirements are not specified

Merchant account

Banking Circle reviews the direct institutional client and requested banking scope

The bank reviews legal entity, ownership, regulatory permissions, financial-crime framework, product, jurisdictions and funds flow before activating the contracted account, safeguarding, clearing, payment or FX scope.

Product setup
Platform account review
Product
Multi-currency bank accounts for direct institutional clients
01Product eligibility & acceptable use

Which businesses and uses are accepted for this product?

Product account eligibility and acceptable-use restrictions are separate from merchant-account underwriting.

Eligibility requirements

01

Startups

Case by case

02

Operating account

Required

03

High-volume flows

Available

04

Institutional review note

This is bank-client acceptance and institutional financial-crime review, not card acquiring underwriting. Banking Circle's published NBPSP criteria require authorization or late-stage authorization and a reviewable financial-crime framework. Account, safeguarding, agency, clearing, virtual-account, payment and FX capabilities require specific approval and contract scope. No universal public approval time, volume threshold or pricing schedule is published.

05

Institutional client decision

Banking Circle accepts direct clients and products after institutional due diligence and risk review; public payment or office coverage is not an acceptance promise.

Restricted activity

Business restrictions

Product · MCC · jurisdiction · sales practice

Target client type

Regulated financial institution, Payment business, Bank, and Eligible investment fund

UK NBPSP eligibility

Authorization or late stage authorization required, Micro enterprise applicants not accepted under UK license, and Financial crime framework review required

02Product account setup

What is needed before this product can be activated?

Company information, commercial terms and technical setup requirements for this product.

Product account setup

Open product account → agree terms → configure integration → activate

Merchant-account approval may still be required separately for live payment processing.

Institutional due-diligence documents

Documents to prepare

  1. 01Company and group structure
  2. 02Regulatory licenses and permissions
  3. 03Ownership control and management information
  4. 04Financial crime risk assessment and control framework
  5. 05Business plan and financial information
  6. 06Product funds flow and jurisdiction information
  7. 07Eligible institutional client type
  8. 08Regulatory status and permissions
  9. 09Financial crime framework and risk assessment
  10. 10Business model product and funds flow
  11. 11Expected currencies countries and transaction volumes

Institutional client & product activation

  1. 01

    Submit institutional client, regulatory and ownership information

  2. 02

    Complete Banking Circle KYC, KYB and financial-crime framework review

  3. 03

    Agree account, virtual-account, payment, FX and safeguarding structures

  4. 04

    Complete API, portal, SWIFT or file-channel integration

  5. 05

    Receive production access after legal, compliance and operational approval

Product account requirements

Account setup and activation

Application and activation requirements.

Business model, product & funds-flow information

Required website pages, disclosures and policies are not specified

KYC, regulatory & financial-crime review

  • Legal entity and beneficial owner verification
  • Regulatory permission verification
  • Sanctions and financial crime screening
  • Financial crime control framework review
  • Product and jurisdiction risk review
  • Technical and operational readiness

Approved banking scope

The onboarding tasks performed by the provider are not specified

Before applying

Application requirements to confirm

Product account requirements, acceptable-use restrictions and activation timing are not fully specified.

Volume & account conditions

Ticket limits, volume expectations, guarantees and bank-account rules.

  1. 01

    Which regulated or otherwise eligible institutional client types, licenses, countries and business models qualify?

    Institutional acceptance is case-specific and does not follow ordinary card-merchant eligibility.

  2. 02

    Which accounts, virtual identifiers, safeguarding structure, payment routes, clearing access and FX capabilities will be approved?

    Each capability requires explicit product, entity, currency and jurisdiction scope.

  3. 03

    How long will institutional due diligence, legal contracting and technical activation take after a complete submission?

    No universal public institutional-client approval time is published.

Vertical acceptance

Which high-risk verticals this provider answers for

Every row is a statement the provider publishes about a business type. Hover or focus a decision to read the original wording. A vertical with no row here is one the provider does not address.

Applies to

Everything this company was reviewed for

Vertical acceptance for Everything this company was reviewed for
VerticalProvider’s position
Financial servicesConditions applyIn the provider’s wordsRegulated financial institution

Industry fit

Supported industries & underwriting requirements

Industries

Select an industry to see merchant eligibility, application requirements and payment operations.

Industry and underwriting details

Financial services

Banking Circle provides pay-ins, payouts, routing and risk controls for regulated financial businesses through Multi-currency bank accounts for direct institutional clients. The merchant-account and underwriting arrangements are not specified for this product. License type, product and jurisdiction affect eligibility.

    Payment operations

    Payment functions available to approved merchants in this industry.

    Capabilities
    • Regulated institutional bank accounts
    • Payment and virtual account infrastructure
    • Safeguarding accounts for eligible PSPs
    • Indirect clearing access
    • Correspondent banking
    • Foreign exchange and liquidity
    Connection methods
    • API
    • Client portal
    • SWIFT
    • SFTP
    Returned data
    • Accounts and balances
    • Payments and statuses
    • Transactions
    • Statements
    • Foreign exchange trades
    API operations
    • Account operations
    • Payment creation and retrieval
    • Beneficiary management
    • Statement and report retrieval
    • Foreign exchange execution
    Payment methods & countries · Multi-currency bank accounts for direct institutional clients

    Where can the business process payments, and which methods are available?

    Account entities, currencies and payment rights are defined for the approved direct institutional client.

    Selected product

    Multi-currency bank accounts for direct institutional clients

    Institutional account coverage

    Selected product

    Business applying for processing

    Regulated financial institutions, payment businesses, banks and other approved institutional types

    The business registration country, acquiring countries and customer countries are separate requirements.

    Institutional banking capabilities

    • Bank account

    Currencies

    24 currencies

    The currencies total can include several products; the number available with this product depends on the agreement.

    Availability depends on

    • Direct client regulatory status
    • Institutional client acceptance
    • Contracting bank entity or branch
    • Account and product configuration
    • Currency and payment rail
    • Direct or partner route
    • Screening and beneficiary data

    Banking Circle provides regulated institutional accounts and banking infrastructure to approved direct clients. Product, entity, branch, currency, clearing, correspondent and FX availability remains contract-specific.

    01Payment-method availability

    Bank payment rails

    Payment-method availability depends on the selected product, legal entity, merchant country, customer country, currency, merchant category and account configuration.

    Bank payment rails

    Bank methods

    • Account to account payment
    • Payments on behalf of
    • Collections on behalf of
    • Direct debit

    Bank-transfer rails

    • SEPA credit transfer
    • SEPA credit transfer instant
    • SEPA direct debit
    • Faster payments scheme
    • Chaps
    • SWIFT
    • Local clearing
    • Real time gross settlement
    • Batch clearing
    02Countries & availability

    Where can the business be registered, where is acquiring available, and where can customers pay?

    Business location, merchant-account coverage, acquiring countries and customer location can differ.

    Country coverage

    Merchant, acquiring, customer and product countries

    1. 01

      Business location

      Where can the business applying for processing be registered?

      Regulated financial institutions, payment businesses, banks and other approved institutional types

      This is where the business is registered; it does not determine acquiring-country or customer-country availability.

      Merchant application review
    2. 02

      Acquiring countries

      Where is merchant acquiring available?

      Account, payment, clearing and FX availability is contract-specific

      This is an institutional banking footprint, not card acquiring or MID coverage.

      Selected product
    3. 03

      Customer location

      Where can customers pay from?

      Depends on account, currency, clearing or correspondent route and beneficiary bank

      Across all products
    4. 04

      Product availability

      Where is this product available?

      Banking Circle works with regulated financial institutions and other approved institutional client types; account, currency and branch availability are contract-specific.

      Selected product

    Countries and payment methods

    Countries and payment methods to confirm

    1. Which bank entity or branch contracts the direct client, and which account, safeguarding, payment, clearing or FX permissions does it provide?

      Entity and branch scope differs by client, product, currency and jurisdiction.

    2. Which currencies, account formats, direct clearing connections and partner or correspondent routes are enabled?

      A published currency or rail list does not establish availability for every direct client.

    3. What cut-offs, screening rules, balance requirements, payment limits, FX terms and support arrangements apply?

      Operational terms are account- and route-specific.

    Pricing & funds · Multi-currency bank accounts for direct institutional clients

    What does this product cost, and when are funds settled?

    Institutional account pricing, account funding and contracted money flows

    Pricing

    Standard processing rate is not specified for this product

    The processing rate is not specified.

    Pricing method

    No public rate card

    01Commercial terms

    What makes up the quoted price?

    Review the pricing plan, pricing model, fees and contract duration.

    1. 01 · Pricing plan

      • Institutional account, payment and FX pricing

    Fee structure

    Fees that may appear in the agreement for this product

    1. 01
      Possible fees
      May apply
      • Account and virtual account fees
      • Local and cross border payment fees
      • SWIFT and correspondent fees
      • Foreign exchange spread or execution fees
      • Agency or safeguarding account fees
      • Return repair and investigation fees

      Amounts and applicability vary by merchant agreement.

    2. 02
      Explicitly waived
      • gateway fee
      • PCI fee

    Fees requiring a quote

    Amounts and waivers are not specified

    monthly fee
    setup fee
    application fee
    annual fee
    batch fee
    early-termination fee
    monthly minimum
    02Account funding & balance terms

    Which account funding & balance terms apply?

    The approved account structure, balance ownership, prefunding, safeguarding and any credit terms.

    Account structure

    A regulated B2B bank account for the approved direct client; not a card merchant account and no card MID.

    A regulated B2B bank account for the approved direct client; not a card merchant account and no card MID.

    03Merchant settlement

    When are sale proceeds settled, and who sends them to the merchant?

    Settlement makes processed sale proceeds available to the merchant.

    Merchant settlement

    Sale proceeds and settlement responsibility

    Contracted flow

    May apply

    Banking Circle works with regulated financial institutions and other approved institutional client types; account, currency and branch availability are contract-specific.

    Currency, direction, account structure, bank entity, direct or partner route, cut-off and screening determine the actual flow.

    Pricing & settlement terms

    Terms to confirm in the agreement

    Price

    1. Which account, virtual-account, payment, clearing, correspondent, investigation and FX charges apply to institutional account?

      Public institutional rates are not disclosed.

    2. Which direct, partner or correspondent route is used for each currency and direction, and what cut-off, repair or investigation fees apply?

      Route and operating charges depend on the approved account configuration.

    Account funding & balance terms

    1. What prefunding, minimum-balance, safeguarding, credit, interest and post-termination balance terms apply?

      Account funding and balance terms are client- and product-specific.

    Payment lifecycle · Multi-currency bank accounts for direct institutional clients

    How do checkout, payment processing, settlement and reconciliation work?

    Institutional account operations

    Payment lifecycle

    Checkout → authorization → settlement → reconciliation

    The selected product determines the integration, transaction controls, payment processing, merchant settlement and reporting.

    Selected product

    Multi-currency bank accounts for direct institutional clients

    Integration, processing, merchant settlement and reporting for this product.

    1. Institutional client channels

      API · Client Portal

    2. Account, payment & FX operations

      Account operations · Payment creation and retrieval

    3. Bank, client & external-route responsibilities

      Bank account and infrastructure · direct-client regulatory duties · route-specific partner banks or schemes

    4. Account reporting & reconciliation

      Accounts and balances · Payments and statuses

    01

    Institutional client channels

    Choose the integration option and who controls the payment page

    Contracted API, portal, SWIFT and file channels used for account and banking instructions.

    Access channels

    • API
    • Client Portal
    • SWIFT
    • SFTP
    02

    Account, payment & FX operations

    Gateway integration, security and transaction tools

    Approved account, beneficiary, payment, statement and foreign-exchange operations.

    Selected setup

    Gateway entry point

    How requests enter this product and which integration boundary applies.

    Account, payment & FX operations details are not specified.

    Account, payment & FX operations

    Tokenization, 3-D Secure, webhooks and transaction controls

    Gateway
    01

    Institutional operations

    • Account operations
    • Payment creation and retrieval
    • Beneficiary management
    • Statements and reports
    • Foreign-exchange execution

    Instruction, screening & route lifecycle

    From customer consent to scheduled payments and retries

    Stored-credential consent, payment scheduling and retry rules apply to each recurring-payment setup.

    Other recurring-payment terms

    Route conditions

    Banking Circle works with regulated financial institutions and other approved institutional client types; account, currency and branch availability are contract-specific.

    03

    Bank, client & external-route responsibilities

    Who processes transactions, settles merchant funds and controls authorization and capture?

    The bank's account and infrastructure role, the direct client's regulated duties and any partner or correspondent route.

    Bank, client & external-route responsibilities

    Bank account and infrastructure · direct-client regulatory duties · route-specific partner banks or schemes

    The direct client keeps its end-customer, licensing, safeguarding and compliance responsibilities where assigned; card merchant accounts and MIDs are outside this role family.

    04

    Account reporting & reconciliation

    What reports and reconciliation tools are available?

    Balances, transactions, payment statuses, statements and FX trade records for the direct client.

    Additional operational terms

    Additional reporting and operations terms for this product.

    Returned records

    • Accounts and balances
    • Payments and statuses
    • Transactions
    • Statements
    • Foreign-exchange trades

    Before integration

    Integration details not specified

    1. 01

      Which API, portal, SWIFT and file operations are enabled for this product and bank entity?

      Access channels and operations are approved per institutional client.

    2. 02

      Which validation, screening, cut-off, direct-clearing, partner-bank and exception rules apply to each currency and direction?

      Payment and clearing operations differ by route.

    3. 03

      What support, incident, reconciliation, business-continuity and post-termination account-access procedures apply?

      Operational support and continuity terms are contractual.

    Merchant funds, risk & support

    Banking Circle Accounts and Virtual Accounts: risk, licenses & support

    Payment processing, merchant funds, reserves, chargebacks, contracting entity, regulated payment services and support.

    Banking Circle Accounts and Virtual AccountsService: Multi-currency bank accounts for direct institutional clients
    01 / Processing, reserves & chargebacks

    Who can suspend payment processing or hold merchant funds?

    Payment processing, reserve or other holds on merchant funds, fraud controls and chargeback handling.

    Payment processing & funds

    Institutional bank accounts

    Banking Circle provides the approved bank-account and infrastructure role. The direct institutional client keeps the end-customer, licensing, safeguarding and compliance duties assigned to it; account, payment, clearing, correspondent and FX rights remain contract-specific.

    Role in this product
    Institutional banking provider
    Who receives and settles funds
    Varies by agreement

    Reserve or security deposit

    Reserve amount and release terms are not specified

    The reserve amount and release schedule are not specified for this product. A reserve may still be included in the final agreement.

    Not specified
    Before signingReserve, chargeback, settlement hold and suspension terms3 items to confirmReview contract terms
    02 / Legal entity, license & registration

    Which legal entity provides the service, and under which license or registration?

    A company can use different legal entities, licenses or registrations for different payment products.

    For this product

    Contracting entity and authorization

    Banking provider. For Banking Circle Accounts and Virtual Accounts, the contracting entity is Banking Circle S.A.; its authorization or registration is Credit institution · Authorized third country bank branch; and its permitted payment services are Banking services · Payment services · Accounts · Foreign exchange.

    1. 01 · Contracting entity

      Banking Circle S.A.

    2. 02 · Authorization or registration

      Credit institution · Authorized third country bank branch

    3. 03 · Permitted payment services

      Banking services · Payment services · Accounts · Foreign exchange

    Company legal entities, licenses & registrations

    Company registrations and payment-services licenses do not identify the contracting entity for every product.

    1 entity · 2 licenses or registrations

    Banking Circle S.A.

    Luxembourg · Registry B222310 · Public limited liability company

    Credit institution

    Commission de Surveillance du Secteur Financier · License B00000408 · 4 permitted payment services · Active · Entity: Banking Circle S.A.

    Authorized third country bank branch

    Prudential Regulation Authority and Financial Conduct Authority · 2 permitted payment services · Active · Entity: Banking Circle S.A.

    Security & regulatory information

    These certifications, safeguarding arrangements and cross-border permissions apply to named company entities or to the company generally. Which ones apply to Multi-currency bank accounts for direct institutional clients is not specified.

    01

    Security standards

    Certifications and assessments

    Information security management system

    Entity: Banking Circle S.A.

    Information security management system applies to Banking Circle S.A.

    02

    Security controls

    Privacy and security controls

    Privacy frameworks
    GDPRUK GDPR
    Privacy contact
    privacy@bankingcircle.com
    Security controls
    Institutional KYC and financial crime reviewPayment and beneficiary screeningStrong customer authentication for client accessAPI authentication and ip whitelistingISO 27001 information security managementDirect and central bank clearing controls
    Merchant support
    https://www.bankingcircle.com/contact-us/
    Before signingContracting entity, payment services license and legal terms3 items to confirmReview contract terms
    03 / Support

    How can merchants reach support?

    Company support hours and contact channels are available. It is not specified which ones cover Multi-currency bank accounts for direct institutional clients and payment-processing or merchant-settlement issues. First-response and resolution targets are also not specified.

    Support contacts

    Company support hours and contacts

    The contacts that cover this product and payment-processing or merchant-settlement issues are not specified.

    Other company contacts

    Support hours are not specified for these contacts.

    Sales

    bankingcircle.com/contact-us

    Privacy

    privacy@bankingcircle.combankingcircle.com/privacy-notice
    Before signingSupport contacts, hours and response times2 items to confirmReview contract terms
    Multi-currency bank accounts for direct institutional clients / Before signing

    What should the merchant agreement include?

    Confirm the contracting entity, approval conditions, processing fees, merchant funding, reserves, chargebacks, liability, support and termination.

    Before signing

    Multi-currency bank accounts for direct institutional clients: terms to confirm

    Confirm each material commercial, operating and legal term in the agreements that govern this product.

    Commercial & funding terms

    Processing fees, reserve or security deposit, merchant funding schedule and chargeback fees

    Approval, liability & exit

    Underwriting conditions, responsible entities, loss allocation, suspension, support and termination

    Contract checklist

    Terms to review by topic

    Jump to the underlying product details

    1. 01Reserves & chargebacksReserve or security deposit, chargebacks, processing suspension and settlement holds.
    2. 02Legal entity & licenseContracting entity, license or registration, and regulated payment services.
    3. 03SupportSupport contacts, hours, response times and escalation.
    Merchant agreement

    Contract terms to confirm

    Review processing fees, merchant funding, reserves, chargebacks, liability, support and termination.

    Reserves & chargebacksReserve or security deposit, chargebacks, processing suspension and settlement holds.

    1. Which events can restrict an account, payment route, virtual identifier, safeguarding structure or FX capability, and how are balances accessed afterward?

      Restriction, suspension and post-termination balance procedures are contractual.

    2. Which institutional KYC, regulatory, sanctions, financial-crime and funds-flow controls apply before and after activation?

      Control scope depends on the direct client, product, jurisdictions and transaction profile.

    3. What happens when a direct clearing connection, partner bank, correspondent, beneficiary bank or FX route is unavailable?

      Fallback and continuity differ by currency, direction and contracted route.

    Legal entity & licenseContracting entity, license or registration, and regulated payment services.

    1. Which licensed bank entity or branch contracts the direct institutional client and provides each approved account, payment, clearing or FX capability?

      An office, group license or currency map does not establish the contracting entity or product scope for every client.

    2. Which licensing, safeguarding, customer-due-diligence and end-customer duties remain with the direct client?

      Banking Circle's banking role does not transfer the client's regulated customer proposition or safeguarding duty unless the agreement explicitly says so.

    3. Which data-controller, security, authentication, retention, incident and audit terms apply to each client channel?

      Operational privacy and security obligations are contract- and channel-specific.

    SupportSupport contacts, hours, response times and escalation.

    1. How are rejected, delayed, recalled or misrouted payments and direct-versus-partner route incidents escalated?

      Route-specific incident ownership and response targets are not fully specified.

    2. Which support hours, contacts and response targets cover account access, payments, clearing, beneficiary screening, FX and reporting?

      Published contact availability may not be the contracted service level for every institutional product.

    Product summary

    What this product already includes

    What this product includes, which restrictions apply and which merchant-agreement terms are not specified.

    Included capabilities

    Capabilities included with Multi-currency bank accounts for direct institutional clients.

    • Open eligible multi-currency bank accounts for the direct Banking Circle client and add configured virtual account identifiers for reconciliation, collections on behalf of customers or payments in the client's or customer's name. The exact account holder, virtual-account naming and payment-on-behalf-of structure is contractual. An assigned virtual IBAN does not create a direct Banking Circle relationship with the client's end customer.