Comparison · 2026 edition
ClearBank vs European Merchant Bank: safeguarding banks compared 2026.
ClearBank and European Merchant Bank side by side in the Safeguarding Banks Index 2026: scores, evidence, published facts and awards.
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ClearBank and European Merchant Bank side by side in the Safeguarding Banks Index 2026: scores, evidence, published facts and awards.
In the Safeguarding Banks Index, ClearBank scores higher overall: 4.2 out of 5 (85 out of 100) against 3.8 (76), ranking 1 and 2 of 14. ClearBank also scores higher in every segment.
Overall and segment scores out of 100, and the score out of 5.
| Score | ClearBank | European Merchant Bank |
|---|---|---|
| Score out of 5 | 4.2 | 3.8 |
| Score out of 100 | 85 | 76 |
| Overall rank | 1 of 14 | 2 of 14 |
| For E-money institutions (out of 100) | 85, rank 1 | 77, rank 2 |
| For payment institutions (out of 100) | 85, rank 1 | 77, rank 2 |
| For firms applying for a licence (out of 100) | 86, rank 1 | 74, rank 2 |
| Type | UK bank (PRA authorised) with a Dutch bank in the EU | Lithuanian bank (European Merchant Bank UAB) |
Each score with the evidence behind it.
| Criterion | ClearBank | European Merchant Bank |
|---|---|---|
| Who it serves | 5/5 EMIs and PIs in the UK and EU, digital asset platforms and pre-regulated firms named; states no minimum volume requirement. | 4/5 All PIs and EMIs passing KYC, including firms outside Lithuania; minimum fee set by risk level. |
| Products | 5/5 Safeguarding, client money and operating accounts with direct membership of FPS, CHAPS, Bacs, SEPA and T2, plus agency banking. | 4/5 Safeguarding and payment accounts with TARGET2 membership and SEPA Instant; EUR only named, no agency banking. |
| Published pricing | 1/5 Fee structure described (monthly subscription plus charges) but no figures or safeguarding interest rate published. | 5/5 One of the most complete published safeguarding tariffs among assessed banks, though maintenance fees are minimums; interest on balances not published. |
| Onboarding | 4/5 States go-live typically takes weeks and offers an operating account during authorisation; no document list. | 3/5 Accounts opened for licence applications with an acknowledgement letter; first contact within one working day; no document list or opening timeline. |
| Technology | 5/5 API account opening, real-time statements, virtual IBANs with automated reconciliation and safeguarding letters. | 3/5 API platform published; real-time balances and reconciliation reports not stated. |
| Standing | 5/5 PRA authorised bank with FSCS protection and published scale of 311+ clients and £20bn deposits. | 4/5 Licensed bank in the Lithuanian deposit guarantee scheme; no client numbers. |
Each criterion is scored 0 to 5 against the best published offer in the Safeguarding Banks Index. 0 means not offered or not published. How it is scored
What each provider publishes on its own pages, read on 21 October 2026.
| Fact | ClearBank | European Merchant Bank |
|---|---|---|
| Legal status | "ClearBank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN: 754568)." "ClearBank Europe N.V. is authorised by the European Central Bank and regulated by De Nederlandsche Bank." Subscriber to the Code of Conduct for Indirect Access Providers. | "European Merchant Bank UAB (EMBank) is licensed by European Central Bank", licence No. 3 (linked to the Bank of Lithuania site). |
| Who it serves | "Safeguarding accounts are for EMIs and Payment Institutions that must segregate end-customer funds under FCA rules." "ClearBank doesn't have any minimum volume requirements." Client types listed include digital asset platforms and pre-regulated firms; it says it has "worked with digital asset companies in the UK since 2019". | "All PIs and EMIs that have passed the KYC processes can open a safeguarding account in EMBank." A separate fee table applies to "Customers Outside Lithuania or Financial Institutions". Minimum monthly fee "To be determined based on client risk level". |
| Products | Safeguarding accounts "held securely at the Bank of England" (GBP) and at DNB and the ECB (EUR); CASS 7 client money accounts; operating accounts; agency banking with sort codes; "Direct membership of Faster Payments Service, CHAPS, Bacs, SEPA Credit, SEPA Instant and T2"; FX; up to 6 million virtual IBANs per master account. | Safeguarding accounts and payment accounts; SEPA, SEPA Instant, TARGET2 ("We make EUR payments throughout the world with our TARGET2 membership") and SWIFT; EUR named. |
| Pricing | No figures published. Indirect access page: services are "provided on an ongoing subscription basis" with a standing monthly fee plus implementation, account and transaction charges. | Safeguarding account opening "4,000.00 €" per account; onboarding fee "min 3,000.00 €"; API connection set-up "10,000.00 €"; safeguarding account maintenance fee "Min 1500.00 €" (period not stated); payment account maintenance "Min 1000.00 €"; SEPA and SEPA Instant outgoing 2.00 €; TARGET2 outgoing 8.00 €, incoming 20.00 €. Interest not stated. |
| Onboarding | "Going live with ClearBank, including KYC, contracting, and integration, typically takes weeks rather than months." Pre-regulated firms: "Open an operating account as you kick off your application journey", with API sandbox access before approval. No document list published. | "we will contact you within 1 working day"; "Your Safeguarding Account will be ready after AML/KYC procedures." EMBank provides "an official acknowledgement letter including your Safeguarding Account details that you will submit to the relevant supervisory authority to proceed with your license application." No document list or opening timeline. |
| Technology | Accounts opened via API; "real-time statements, and direct scheme access"; virtual IBANs "allocated instantly via API with automated reconciliation"; safeguarding letter provided on request. | "EMBank offers an API-driven platform" covering account opening, payment initiation and account information. Real-time balances and reconciliation reports not stated. |
| Protection and scale | Eligible deposits protected by the FSCS up to £120,000; EU national scheme up to €100,000. Published scale: "311+" clients, 4.9m open bank accounts, £20bn in deposits held. | "EMBank participates in the deposit guarantee scheme (DGS) of Lithuania." No client numbers published. |
| Date read | 21 October 2026 | 21 October 2026 |
Not published or not stated by ClearBank: pricing, onboarding and published pricing.
Not published or not stated by European Merchant Bank: pricing, technology, protection and scale and published pricing.
Facts read on 21 October 2026 from: clear.bank/products/accounts, clear.bank/faqs/accounts-and-agency-banking, clear.bank/use-cases/pre-regulated, clear.bank/indirect-access-to-uk-payments-system, clear.bank/learn/insights/…; and em.bank, em.bank/accounts/safeguarding-accounts, em.bank/fees-and-commisions, em.bank/blog/articles/….
Awards follow from the published scores and cannot be bought.
From each provider's strongest criteria and published terms.
EMIs and PIs needing direct UK and EU scheme access.
EU EMIs wanting a published safeguarding tariff.
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