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An independent annual ranking of the banks that hold customer money for e-money and payment firms, scored from each bank's own published terms. 14 banks, six criteria, nothing paid for.
Scores out of 100. Each segment weights the criteria differently; the method is below. Facts read on 21 October 2026 from the providers' own pages.
The mean of the 3 segment scores.
| Rank and provider | Score /100 | Status | Strongest for |
|---|---|---|---|
| 1. ClearBank | 85 | UK bank (PRA authorised) with a Dutch bank in the EU | EMIs and PIs needing direct UK and EU scheme access |
| 2. European Merchant Bank | 76 | Lithuanian bank (European Merchant Bank UAB) | EU EMIs wanting a published safeguarding tariff |
| 3. Mano Bank | 76 | Lithuanian specialised bank (Mano Bankas AB) supervised by the Bank of Lithuania | EU EMIs and PIs wanting fixed published safeguarding fees |
| 4. Memo Bank | 72 | French bank licensed by the ECB, supervised by the ACPR | EU firms wanting interest on safeguarded euros |
| 5. Magnetiq Bank | 71 | Latvian bank (AS Magnetiq Bank) supervised by the Bank of Latvia | EEA EMIs and PIs still in the licensing queue |
| 6. Banking Circle | 69 | Luxembourg bank supervised by the CSSF | Multi-currency safeguarding across the UK and EEA |
| 7. Bank of London | 69 | UK bank (PRA authorised) | Firms opening accounts during authorisation |
| 8. Griffin | 64 | UK bank (PRA authorised) | Dedicated per-customer safeguarding accounts |
| 9. LHV Bank | 61 | UK bank (PRA authorised) | GBP and EUR safeguarding with agency banking |
| 10. Starling Banking Services | 55 | UK bank (PRA authorised) | UK payment firms wanting their own sort code |
| 11. Solaris | 44 | German bank (Solaris SE) supervised by BaFin and the ECB | A second safeguarding account for licensed EMIs and PIs |
| 12. CaixaBank | 42 | Spanish bank (CaixaBank, S.A.) registered with the Bank of Spain | Payment firms licensed or passported into Spain |
| 13. BNY | 39 | US bank (The Bank of New York Mellon) authorised by the PRA, with a Belgian bank in the EU | Large EMIs investing safeguarded cash in money market funds |
| 14. Sutor Bank | 39 | German bank (Sutor Bank GmbH) supervised by BaFin | Digital e-money and payment firms using banking as a service |
Balanced across access, products, pricing, onboarding, technology and standing.
| Rank and provider | Score /100 | Status | Strongest for |
|---|---|---|---|
| 1. ClearBank | 85 | UK bank (PRA authorised) with a Dutch bank in the EU | EMIs and PIs needing direct UK and EU scheme access |
| 2. European Merchant Bank | 77 | Lithuanian bank (European Merchant Bank UAB) | EU EMIs wanting a published safeguarding tariff |
| 3. Mano Bank | 77 | Lithuanian specialised bank (Mano Bankas AB) supervised by the Bank of Lithuania | EU EMIs and PIs wanting fixed published safeguarding fees |
| 4. Memo Bank | 76 | French bank licensed by the ECB, supervised by the ACPR | EU firms wanting interest on safeguarded euros |
| 5. Magnetiq Bank | 71 | Latvian bank (AS Magnetiq Bank) supervised by the Bank of Latvia | EEA EMIs and PIs still in the licensing queue |
| 6. Banking Circle | 69 | Luxembourg bank supervised by the CSSF | Multi-currency safeguarding across the UK and EEA |
| 7. Bank of London | 69 | UK bank (PRA authorised) | Firms opening accounts during authorisation |
| 8. Griffin | 67 | UK bank (PRA authorised) | Dedicated per-customer safeguarding accounts |
| 9. LHV Bank | 62 | UK bank (PRA authorised) | GBP and EUR safeguarding with agency banking |
| 10. Starling Banking Services | 58 | UK bank (PRA authorised) | UK payment firms wanting their own sort code |
| 11. Solaris | 47 | German bank (Solaris SE) supervised by BaFin and the ECB | A second safeguarding account for licensed EMIs and PIs |
| 12. CaixaBank | 42 | Spanish bank (CaixaBank, S.A.) registered with the Bank of Spain | Payment firms licensed or passported into Spain |
| 13. BNY | 41 | US bank (The Bank of New York Mellon) authorised by the PRA, with a Belgian bank in the EU | Large EMIs investing safeguarded cash in money market funds |
| 14. Sutor Bank | 41 | German bank (Sutor Bank GmbH) supervised by BaFin | Digital e-money and payment firms using banking as a service |
Weighted to products and access: direct payment scheme access matters most.
| Rank and provider | Score /100 | Status | Strongest for |
|---|---|---|---|
| 1. ClearBank | 85 | UK bank (PRA authorised) with a Dutch bank in the EU | EMIs and PIs needing direct UK and EU scheme access |
| 2. European Merchant Bank | 77 | Lithuanian bank (European Merchant Bank UAB) | EU EMIs wanting a published safeguarding tariff |
| 3. Mano Bank | 77 | Lithuanian specialised bank (Mano Bankas AB) supervised by the Bank of Lithuania | EU EMIs and PIs wanting fixed published safeguarding fees |
| 4. Memo Bank | 75 | French bank licensed by the ECB, supervised by the ACPR | EU firms wanting interest on safeguarded euros |
| 5. Magnetiq Bank | 71 | Latvian bank (AS Magnetiq Bank) supervised by the Bank of Latvia | EEA EMIs and PIs still in the licensing queue |
| 6. Banking Circle | 70 | Luxembourg bank supervised by the CSSF | Multi-currency safeguarding across the UK and EEA |
| 7. Bank of London | 70 | UK bank (PRA authorised) | Firms opening accounts during authorisation |
| 8. Griffin | 66 | UK bank (PRA authorised) | Dedicated per-customer safeguarding accounts |
| 9. LHV Bank | 62 | UK bank (PRA authorised) | GBP and EUR safeguarding with agency banking |
| 10. Starling Banking Services | 58 | UK bank (PRA authorised) | UK payment firms wanting their own sort code |
| 11. Solaris | 46 | German bank (Solaris SE) supervised by BaFin and the ECB | A second safeguarding account for licensed EMIs and PIs |
| 12. CaixaBank | 41 | Spanish bank (CaixaBank, S.A.) registered with the Bank of Spain | Payment firms licensed or passported into Spain |
| 13. BNY | 41 | US bank (The Bank of New York Mellon) authorised by the PRA, with a Belgian bank in the EU | Large EMIs investing safeguarded cash in money market funds |
| 14. Sutor Bank | 40 | German bank (Sutor Bank GmbH) supervised by BaFin | Digital e-money and payment firms using banking as a service |
Weighted to access and onboarding: whether the bank will open an account for a firm before or during authorisation.
| Rank and provider | Score /100 | Status | Strongest for |
|---|---|---|---|
| 1. ClearBank | 86 | UK bank (PRA authorised) with a Dutch bank in the EU | EMIs and PIs needing direct UK and EU scheme access |
| 2. European Merchant Bank | 74 | Lithuanian bank (European Merchant Bank UAB) | EU EMIs wanting a published safeguarding tariff |
| 3. Mano Bank | 74 | Lithuanian specialised bank (Mano Bankas AB) supervised by the Bank of Lithuania | EU EMIs and PIs wanting fixed published safeguarding fees |
| 4. Magnetiq Bank | 70 | Latvian bank (AS Magnetiq Bank) supervised by the Bank of Latvia | EEA EMIs and PIs still in the licensing queue |
| 5. Banking Circle | 68 | Luxembourg bank supervised by the CSSF | Multi-currency safeguarding across the UK and EEA |
| 6. Bank of London | 68 | UK bank (PRA authorised) | Firms opening accounts during authorisation |
| 7. Memo Bank | 66 | French bank licensed by the ECB, supervised by the ACPR | EU firms wanting interest on safeguarded euros |
| 8. LHV Bank | 60 | UK bank (PRA authorised) | GBP and EUR safeguarding with agency banking |
| 9. Griffin | 60 | UK bank (PRA authorised) | Dedicated per-customer safeguarding accounts |
| 10. Starling Banking Services | 50 | UK bank (PRA authorised) | UK payment firms wanting their own sort code |
| 11. CaixaBank | 44 | Spanish bank (CaixaBank, S.A.) registered with the Bank of Spain | Payment firms licensed or passported into Spain |
| 12. Solaris | 40 | German bank (Solaris SE) supervised by BaFin and the ECB | A second safeguarding account for licensed EMIs and PIs |
| 13. BNY | 36 | US bank (The Bank of New York Mellon) authorised by the PRA, with a Belgian bank in the EU | Large EMIs investing safeguarded cash in money market funds |
| 14. Sutor Bank | 36 | German bank (Sutor Bank GmbH) supervised by BaFin | Digital e-money and payment firms using banking as a service |
Each criterion is scored 0 to 5 against the best published offer in this edition. 0 means not offered or not published.
| Provider | Who it serves | Products | Published pricing | Onboarding | Technology | Standing |
|---|---|---|---|---|---|---|
| ClearBank | 5 | 5 | 1 | 4 | 5 | 5 |
| European Merchant Bank | 4 | 4 | 5 | 3 | 3 | 4 |
| Mano Bank | 4 | 4 | 5 | 3 | 3 | 4 |
| Memo Bank | 3 | 4 | 4 | 2 | 5 | 5 |
| Magnetiq Bank | 4 | 4 | 2 | 3 | 4 | 4 |
| Banking Circle | 4 | 5 | 0 | 3 | 4 | 4 |
| Bank of London | 4 | 5 | 0 | 3 | 4 | 4 |
| Griffin | 3 | 4 | 2 | 2 | 4 | 5 |
| LHV Bank | 4 | 4 | 0 | 2 | 4 | 4 |
| Starling Banking Services | 3 | 4 | 1 | 1 | 4 | 4 |
| Solaris | 2 | 3 | 0 | 1 | 4 | 4 |
| CaixaBank | 3 | 3 | 0 | 2 | 0 | 4 |
| BNY | 2 | 3 | 0 | 1 | 3 | 3 |
| Sutor Bank | 2 | 3 | 0 | 1 | 2 | 4 |
6 criteria, scored only from what each provider publishes.
Whether e-money institutions, payment institutions, small firms and crypto firms are accepted, by country, with published minimums.
Safeguarding accounts, operating accounts, direct access to Faster Payments, SEPA or Fedwire, agency banking, FX and cards.
Published account fees and interest paid on safeguarded balances.
A stated timeline, published documents and whether the firm must already hold its licence.
An API, real-time balances and reconciliation reports that support the safeguarding rules.
Banking licence, deposit protection on operating balances and published scale of fintech clients.
| Criterion | E-money institutions | Payment institutions | Firms applying for a licence |
|---|---|---|---|
| Who it serves | 20 | 20 | 30 |
| Products | 20 | 25 | 10 |
| Published pricing | 15 | 15 | 10 |
| Onboarding | 15 | 15 | 30 |
| Technology | 15 | 15 | 10 |
| Standing | 15 | 10 | 10 |
| Criterion | 5 | 3 | 0 |
|---|---|---|---|
| Who it serves | EMIs, PIs and small firms in several countries, minimums published | Established EMIs or PIs only | Not published |
| Products | Safeguarding and operating accounts with direct scheme access and agency banking | Safeguarding accounts only | Not published |
| Published pricing | Fees and interest on safeguarded balances published | Some fees published | Not published |
| Onboarding | A stated timeline and document list, accounts opened during authorisation | A document list only | Not published |
| Technology | API, real-time balances and reconciliation reports | API only | Not published |
| Standing | A licensed bank with deposit protection and published fintech client numbers | A licensed bank | Not a bank or status unclear |
Score out of 100 is the sum of each criterion score divided by five and multiplied by its weight. The overall ranking is the mean of the segment scores. Ties are broken by who it serves, then onboarding. A provider that does not publish a price is scored as though the price were high, because a business cannot plan on an unpublished price. Prices are scored on the standard published rate, never an introductory, promotional or "from" rate, and a figure counts only when it appears on a pricing, fee or terms page rather than in a marketing line. A provider that serves one country only is scored on access for that country, and the limitation is printed in its profile.
What each provider publishes, criterion by criterion, with the date read and the source.
A UK clearing bank built for regulated firms, with a sister bank in the Netherlands. It publishes safeguarding, client money and operating accounts for EMIs and PIs, direct membership of the UK and euro payment schemes, an operating account for firms still applying for a licence, and states it has no minimum volume requirement. It does not publish prices.
| 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. |
| 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". |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: clear.bank, clear.bank, clear.bank, clear.bank, clear.bank.
A Lithuanian bank serving fintechs. It publishes safeguarding accounts open to all PIs and EMIs that pass its checks, an acknowledgement letter for firms applying for a licence, a fee schedule for financial institutions, TARGET2 membership and an API platform. It does not publish interest, a document list or an opening timeline beyond first contact within one working day.
| Legal status | "European Merchant Bank UAB (EMBank) is licensed by European Central Bank", licence No. 3 (linked to the Bank of Lithuania site). |
| Who it serves | "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 and payment accounts; SEPA, SEPA Instant, TARGET2 ("We make EUR payments throughout the world with our TARGET2 membership") and SWIFT; EUR named. |
| Pricing | 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 | "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 | "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 | "EMBank participates in the deposit guarantee scheme (DGS) of Lithuania." No client numbers published. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: em.bank, em.bank, em.bank, em.bank.
A Lithuanian specialised bank with a fintech offer. It publishes safeguarding, segregated and correspondent accounts for e-money and payment institutions at a fixed opening and monthly fee, SEPA Instant and SWIFT payments, sending in 12 currencies, and a full document list for companies registered abroad. Euro balances of non-residents and financial institutions carry a daily balance fee, no interest is published and no opening timeline is stated.
| Legal status | "Mano Bankas AB holds a specialised bank license and operates under the supervision of the Bank of Lithuania"; the licence was "Issued by the European Central Bank through the Bank of Lithuania". Company code 112043081; footer links to "Specialised bank licence No.1". |
| Who it serves | Safeguarding account "Tailored specifically for electronic money and payment institutions". A separate tariff applies to "Non-Residents & Financial Institutions", which covers legal entities established abroad or with foreign owners or controllers, and firms in currency exchange or cryptocurrency trading. "Residents of certain countries and territories are not permitted to open accounts." Minimums not published. |
| Products | Safeguarding, segregated and correspondent accounts; "Each of our bank accounts comes with an internationally recognised IBAN number"; current accounts; SEPA, SEPA Instant ("Instant euro payments up to €100,000, available 24/7") and SWIFT; funds held and sent in AUD, CAD, CHF, DKK, EUR, GBP, NOK, PLN, RON, SEK, USD and ZAR, received in CAD, EUR, SEK and USD; currency exchange in the online bank; a dedicated consultant. Agency banking and direct scheme membership not stated. |
| Pricing | Non-Residents & Financial Institutions tariff: "Safeguarding / Segregated / Correspondent account opening" "500 € for each account"; maintenance "200 € / month, for each account"; "Customer data verification" and "Initial KYC Check-Up" each "From 1 000 €". Euro balance fee from "0.03 € per day per 1.000 €" (up to 100,000 €) to "0.08 € per day per 1.000 €" (above 3,000,000 €); the tariff does not say whether safeguarding balances are excluded. Outgoing SEPA 1 €, SWIFT 30 €; correspondent payments "Individual pricing will be applied". No interest published. |
| Onboarding | "You may open a bank account by submitting the required application and supporting documents remotely" or at the Vilnius branch. Published document list for companies registered abroad: register extracts no older than 3 months, articles of association, shareholder structure, identity documents of the manager and board, and last year's financial statements; "Documents are accepted only in Lithuanian or English and must be apostilled". Financial institutions submit "additional documentation relating to the relevant activity". No timeline; accounts before authorisation not stated. |
| Technology | "Integrate your systems with Mano Bank via our API." "Automate payments, monitor balances and access transaction details with ease"; developer portal. Real-time balances and reconciliation reports not stated. |
| Protection and scale | Deposit protection information linked from the site footer. Published 2026 Q2 figures: "€764M" total assets and "€230M" deposits from customers. No fintech client numbers published. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: www.mano.bank, www.mano.bank, www.mano.bank, www.mano.bank, www.mano.bank, www.mano.bank, www.mano.bank.
A French business bank. It publishes client accounts for payment and e-money institutions in EUR, USD and GBP with French IBANs, real-time webhooks and virtual IBANs, and it is the only assessed bank that publishes the interest paid on safeguarded balances. A Memo Bank current account is required first.
| Legal status | "Memo Bank is a limited company (Société Anonyme)"; "We're a credit institution, licensed by the ECB and supervised by the ACPR". |
| Who it serves | "Serving Payment Institutions, Electronic Money Institutions, fiduciaries, financing companies, and collection agencies"; also "ACPR-exempt entities". A Memo Bank business current account is required first. Countries and minimums not published. |
| Products | Client (safeguarding) accounts, each paired with a settlement account; "By default, all our client accounts are denominated in euros (EUR)", with USD or GBP on request; French IBANs; SEPA transfers and direct debits; international transfers. |
| Pricing | Client account balances earn 25% of the €STR, paid monthly, "from the first euro". Payments plans "From €449 excl. VAT per month". The tariff PDF (updated 8 September 2026) lists safeguarding and settlement account pricing as "Nous consulter" (on request). |
| Onboarding | "signing the terms and conditions and opening the client account can be done online." No timeline or document list; accounts before authorisation not stated. |
| Technology | "Plug our Premium API into your own systems"; "You are notified in real time (webhooks) upon the creation of the account, as well as on incoming and outgoing movements." Virtual IBANs for "precise, granular reconciliation". |
| Protection and scale | "covered by the FGDR, France's deposit guarantee scheme"; LCR of 477% and CET1 ratio of 50%; "more than 50 clients" supported in opening client accounts. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: memo.bank, memo.bank, memo.bank, assets.memo.bank.
A Latvian bank built for fintech and e-commerce firms. It publishes safeguarding accounts for licensed and pre-licensed EMIs, PIs and crypto firms registered in Latvia or the EEA, one API connecting to SEPA, SEPA Instant and TARGET2, principal SWIFT membership and virtual IBANs issued in seconds. Its tariff publishes general business account and payment fees but no safeguarding fee or interest, and no document list.
| Legal status | "AS Magnetiq Bank is a licensed credit institution supervised by the Bank of Latvia." Registration number 50103189561; "Licence No. 06.01.04/255 (issued on 12 September 2008)", "Reregistered on 20 December 2017, No. 06.01.02.01.340/491". Describes itself as a "Fully Licensed EU Bank". |
| Who it serves | "PSD2-compliant safeguarding for licensed and pre-licensed EMIs, PIs, MSB and crypto firms." Target clients page: payment and electronic money institutions "registered and licensed in Latvia or the EEA"; crypto companies also listed. Excludes "Unlicensed financial institutions conducting actual business operations" and residents of FATF blacklisted countries. No minimums published. |
| Products | Safeguarding accounts with "Ring-fenced client funds, separated from business accounts"; current accounts, overnight deposits and virtual IBANs; "one API connecting to SEPA, SEPA Instant, TARGET2" plus Visa Direct and Mastercard MoneySend; "Direct principal membership with SWIFT, Visa, and Mastercard." "Balances can be held in EUR and other major currencies, subject to agreement with the Bank." FX, business cards and acquiring. Agency banking not stated. |
| Pricing | Price list for EEA legal entities: current account opening 350 EUR, account maintenance 200 EUR a month, minimum account balance 300 EUR; electronic SEPA payments from 15 EUR (standard). No safeguarding-specific fee or interest rate published. |
| Onboarding | "Quick and simplified onboarding"; its Nexpay page targets "EMI & PI Applicants": "Firms in the licensing queue needing immediate infrastructure." Tariff: "Additional fee for express consideration of an application for Current account opening within 48 hours", 350 EUR. No document list or standard timeline. |
| Technology | "Through a single API integration, you gain access to regulated banking capabilities without building your own banking stack." "Webhook notifications"; virtual IBANs issued "from 1 to 1,000+ virtual IBANs in seconds"; "Support reconciliation and external audits"; "Real-time fund transfers". Real-time balances not stated. |
| Protection and scale | "1000+" "Companies already use our products"; assets "€178.8 million"; capital and reserves "€34.8 million". Deposit protection not stated on the pages read. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: magnetiqbank.com, magnetiqbank.com, magnetiqbank.com, magnetiqbank.com, magnetiqbank.com, magnetiqbank.com, magnetiqbank.com, magnetiqbank.com.
A Luxembourg business-to-business bank serving banks, non-bank financial institutions and corporates, not individuals. It publishes safeguarded accounts, agency and correspondent banking and 28 currencies, and publishes eligibility criteria for UK and EEA EMIs and PIs, including firms in the final stage of authorisation. It excludes micro-enterprises and does not publish prices or a timeline.
| Legal status | Banking Circle S.A., "Company Registered in Luxembourg", CSSF registration number B00000408; describes itself as a "Fully licensed bank with Central Bank Clearing Rails" and "a regulated business-to-business (B2B) bank" "supervised by the Commission de Surveillance du Secteur Financier (CSSF)". |
| Who it serves | "Non-Bank Payment Service Providers include Payment Institutions and Electronic Money Institutions (small or otherwise)." UK and EEA firms; "This also includes firms who are applying for authorisation" when in final stages, for example with a "minded to" letter. Must "Not be a micro-enterprise" (fewer than 10 staff and turnover or balance sheet at or below €2 million) and "Meet minimum revenue thresholds (or pay minimum fees)", amounts not published. Crypto-asset service providers are a restricted client type and must be authorised in the UK, EEA or approved countries. |
| Products | "For regulated clients, we offer safeguarded accounts." Physical and virtual accounts with the client's own IBAN prefix; agency banking and correspondent banking; "28 Currencies" (24 fiat and 4 stablecoins); local payment methods; direct connections to SEPA and SWIFT. |
| Pricing | Not published. |
| Onboarding | Applicants complete the Banking Circle Initial Client Questionnaire and Client Application Form; the document list is "available on request"; a Banking Circle safeguarding letter is completed if safeguarding accounts are required. No timeline published. |
| Technology | "Connect seamlessly through our robust API and Client Portal, or SFTP and SWIFT." Virtual accounts created individually or in bulk; "efficient reconciliation". Real-time balances not stated. |
| Protection and scale | Banking services to "over 900 regulated financial institutions"; "€1.5 Trillion" in annual payment volumes. Deposit protection on operating balances not stated on the pages read. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: www.bankingcircle.com, www.bankingcircle.com, www.bankingcircle.com, www.bankingcircle.com, www.bankingcircle.com.
A UK clearing bank that holds deposits at the Bank of England. It publishes safeguarding accounts built for EMIs and PIs with an FCA-compliant acknowledgement letter, agency banking with sponsored sort codes, and an operating account for firms still going through FCA authorisation. It does not publish prices, timelines or client numbers.
| Legal status | "'Bank of London', 'The Bank of London' and 'TBOL' are registered trading names of The Bank of London Group Limited." "Bank of London is a bank authorised by the Bank of England's Prudential Regulation Authority" and "regulated by the Financial Conduct Authority and the Bank of England's Prudential Regulation Authority." FRN 930379. |
| Who it serves | Safeguarding accounts "Built for E-money Institutions (EMIs) and Payment Institutions (PIs)"; also "pre-regulated entities, businesses in the process of obtaining FCA authorisation". Minimums and countries not published. |
| Products | Safeguarding accounts with deposits "kept 100% at the Bank of England"; operating accounts; CASS accounts; virtual accounts; "Agency Banking sort code sponsored scheme access". The bank describes itself as "a direct settlement participant in Bacs and Faster Payments, with access to CHAPS" and "directly connected to UK payment schemes"; clients reach Faster Payments and Bacs "through our indirect access model, without the need to become a direct scheme participant". |
| Pricing | Not published. |
| Onboarding | "Open an operating account to manage your business funds during the authorisation process"; "we can establish safeguarding account structures in readiness for go-live once authorised." No timeline or document list. |
| Technology | "Real-time access to payment infrastructure and interbank networks though API or Online Banking"; API documentation for Faster Payments, Bacs and CHAPS; virtual IBANs with "a reconciled ledger of customer balances". |
| Protection and scale | "All deposits held 100% at the Bank of England, fully liquid and FSCS protected". Provides "an FCA-compliant acknowledgement letter". No client numbers published. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: www.bankoflondon.com, www.bankoflondon.com, www.bankoflondon.com, www.bankoflondon.com, www.bankoflondon.com.
A UK bank built for software platforms, fully authorised in March 2024. It publishes dedicated and pooled safeguarding accounts for FCA-regulated EMIs and PIs, client money accounts and API reconciliation, and publishes platform and business account prices. Its eligibility page accepts UK private limited companies and says it may not be able to work with firms based outside the UK. It does not publish the rate paid on safeguarded balances.
| Legal status | "Griffin Bank Ltd ("Griffin") is a company registered in England and Wales (No. 10842931)." "Griffin is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority." FRN 970920. |
| Who it serves | "Our safeguarding services are for FCA-regulated electronic money institutions and payments institutions." Applicants must be "a registered company limited by shares (Ltd) based in the UK" and "have the correct regulatory permissions". Firms based outside the UK: "We may not be able to work with you", depending on the products sought. No minimums listed. |
| Products | Dedicated safeguarding accounts ("Individual bank accounts for each of your customers") or one pooled safeguarding account; client money accounts; operational accounts. Company facts list payments via Faster Payments, inbound CHAPS and instant book transfers, with Bacs and outbound CHAPS "Coming soon". Scheme membership not stated. |
| Pricing | Business bank accounts: monthly fees "From £100"; interest "From 1.75%" (1.76% AER, variable, tracks Bank of England base rate). Platform banking: one-off onboarding fee "from £15,000"; monthly minimum spend packages of £3,500, £5,000 or £10,000, or Enterprise "Custom". Safeguarding accounts "are able to earn interest, depending on your contract"; no safeguarding-specific rate. |
| Onboarding | Safeguarding page: "Onboard with us in days, not months." Pricing page, platform banking: go-live stated as 6 to 8 weeks. No document list. Regulatory permissions required. |
| Technology | API integration with "your existing ledger and accounting systems"; "Instantly reconcile customer funds with our ledger"; "instant payment notifications, simplified reconciliation, automated reporting". Real-time balances not stated. |
| Protection and scale | "Your customers' deposits are protected", with a deposit protection page linked. Pricing page: "Trusted by 50+ companies". |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: griffin.com, griffin.com, www.griffin.com, griffin.com, www.griffin.com, griffin.com.
A UK bank with a dedicated financial institutions unit serving over 200 regulated firms. It publishes multi-currency safeguarding and operational accounts, virtual accounts and GBP and EUR scheme access, and full eligibility criteria naming authorised EMIs and PIs. It publishes no fees for financial institutions and no onboarding timeline.
| Legal status | "LHV Bank Limited (13180211) is registered in England and Wales" and is "authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority". |
| Who it serves | "Your company must be a regulated financial institution supervised by the Financial Conduct Authority" or equivalent EEA or Gibraltar regulators. Named types include "Authorised E-Money Institution" and "Authorised Payment Institution". Firms "in the final stages of obtaining approval may also be considered." Must not be an autonomous micro-enterprise; minimum revenue and monthly payment levels set by LHV, not published. Crypto providers accepted subject to extra review. |
| Products | Safeguarding: "Multicurrency accounts to comply with regulatory requirements are available to regulated entities to hold client funds." Operational and virtual accounts; GBP and EUR IBANs; "access to UK and European payment schemes". Agency banking with indirect access to Faster Payments, STEP2 and RT1 and client-owned sort codes is described only in a news release that predates LHV Bank Limited's UK banking licence; current product pages do not mention it. |
| Pricing | The "Fees, rates and charges" page publishes Fee Information Documents for the LHV Current Account (latest dated 11 November 2025). No fees or interest for financial institution or safeguarding accounts are published. |
| Onboarding | Eligibility criteria, onboarding principles and compliance requirements published (last reviewed November 2022). No document list or timeline. |
| Technology | "Instant IBANs issuance via API"; "Comprehensive reporting for complete visibility and reconciliation"; LHV Connect API and Open Banking API. |
| Protection and scale | "We are a trusted partner to over 200 regulated financial institutions". Deposit protection for financial institution balances not stated on the pages read. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: www.lhv.com, www.lhv.com, www.lhv.com, www.lhv.com, www.lhv.com, www.lhv.com, www.lhv.com.
The banking services arm of Starling Bank. It publishes safeguarding, operational, segregated and CASS accounts for regulated payment service providers on their own addressable sort code, with Faster Payments, Bacs and inbound CHAPS and API access. Safeguarding accounts are only for clients using its payment services. It does not publish prices, minimums or an onboarding process.
| Legal status | "Starling Bank Limited (trading as Starling) is registered in England and Wales" (No. 09092149). "We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority" (No. 730166). |
| Who it serves | "a range of client money accounts suitable for e-money and payment institutions, as well as investment firms." Accounts page: "Only available to Payment Service Providers domiciled and regulated in the UK, or EEA and authorised to offer financial services within the UK." "All clients are regulated within the UK." "Our Safeguarding and Segregated Accounts are available only to clients using our Payment Services." "Eligibility criteria applies"; the former eligibility criteria page now redirects to the Banking Services home page. Minimums not published. |
| Products | Segregated, operational, safeguarding and CASS accounts and virtual accounts on an "own addressable UK sort code" with Faster Payments and Bacs, plus inbound CHAPS; GBP. |
| Pricing | Unlimited virtual accounts "at no extra cost". No fee schedule or interest rate published. |
| Onboarding | "We offer a quick and straightforward onboarding process, which includes handling the FPS settlement for you." No document list, timeline or route before authorisation published. |
| Technology | "All opened and managed by one simple API"; real-time payments; "Simplify reconciliation with dedicated accounts for inflows and outflows". Real-time balances not stated. |
| Protection and scale | FSCS protection page and leaflet linked. No client numbers published. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: www.starlingbank.com, www.starlingbank.com.
A German banking-as-a-service bank. Its developer documentation describes a business safeguarding account for licensed EMIs and PIs, run by API with real-time balance, booking and statement endpoints. The account is closed loop to one reference account, and the firm must already hold a safeguarding account at another bank. No prices or timeline are published.
| Legal status | Solaris SE, Berlin; "full German banking license (CRR)" granted by BaFin in 2017; "the European Central Bank (ECB) is responsible for regulatory oversight." |
| Who it serves | "Electronic Money Institutions (EMIs) and Payment Institutions (PIs) are legally required to protect customer funds"; "this is a B2B product where you are the customer." Prerequisites: full business KYC with video identification of legal representatives, "an existing safeguarding account at another bank" as reference, and a licence as an EMI or PI. |
| Products | Safeguarding account, closed loop to one external reference account. Operating accounts and scheme access for EMIs and PIs not described on the pages read. |
| Pricing | Not published. |
| Onboarding | Business KYC with video identification; licence required. No timeline or document list. |
| Technology | API endpoints for payouts, "GET /v1/accounts/{account_id}/balance" ("Check current funds"), bookings and statements; dashboard access. "You must perform daily reconciliation". |
| Protection and scale | Funds "are protected by the German Deposit Guarantee Act up to an amount of EUR 100,000". No client numbers published. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: docs.solarisgroup.com, solarisgroup.com.
A Spanish retail and business bank. Its published admission policy offers a safeguarding account to payment institutions and e-money institutions that are licensed for and present in Spain, alongside a required operating account, and lists the documents it asks for. Prices sit in an annex that is not published, and no timeline or technology is described.
| Legal status | "CaixaBank, S.A., con NIF A-08663619, inscrito en el Registro Administrativo Especial del Banco de España con el número 2100". |
| Who it serves | "disponemos de un producto de cuenta de salvaguarda para las Entidades de Pago y Entidades de Dinero Electrónico que lo soliciten" (a safeguarding account for payment and e-money institutions that request it). The licence must be registered with the Bank of Spain or, for firms licensed elsewhere in the EU, come with authorisation to operate in Spain. Refuses firms that "no tengan presencia o actividad en España" or are licensed in a high-risk jurisdiction. Minimums not published. |
| Products | Safeguarding account described as "una cuenta corriente especial" that separates customer funds, limited to transfers (no cash, direct debits or cheques) and linked to no other product; a separate operating account ("cuenta instrumental") is required to pay its fees. Currencies and scheme access for these firms not stated. |
| Pricing | "El precio de los servicios de la cuenta de salvaguarda se encuentra descritos en el Anexo de Precios"; the annex is not included in the published policy. Fees are charged yearly to the operating account. No interest stated. |
| Onboarding | Published document list: enhanced KYC, proof of activity, beneficial ownership and control, origin of wealth, licences, and AML procedures (manual or independent expert or auditor report). Licence required. No timeline. Policy dated 2022. |
| Technology | None described for the safeguarding account. |
| Protection and scale | "CaixaBank está adherido al Fondo de Garantía de Depósitos de Entidades de Crédito español." "Importe máximo garantizado de 100.000 € por depositante." No fintech client numbers published. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: www.caixabank.es, www.caixabank.es.
A US custody and payments bank with a London branch and a Belgian bank. Its CASS 15 guide states it offers safeguarding accounts to EMIs and payment service providers through its LiquidityDirect platform, so safeguarded cash can be placed in government and treasury-only money market funds, with automated safeguarding reporting. It publishes no eligibility criteria, prices, timeline or API details for these accounts.
| Legal status | "The Bank of New York Mellon, a banking corporation organized pursuant to the laws of the State of New York" is "authorized by the Prudential Regulation Authority ("PRA") (Firm Reference Number: 122467)"; its London branch "is subject to regulation by the Financial Conduct Authority ("FCA") and limited regulation by the PRA." "The Bank of New York Mellon SA/NV" is "authorized and regulated as a significant credit institution by the European Central Bank". The entity that opens safeguarding accounts is not stated. |
| Who it serves | Written for firms under CASS 15, "payment service providers, including electronic money institutions (EMIs) and authorised payments institutions (APIs)"; BNY's network is described as "helping EMIs and PSPs support global payment flows". No eligibility criteria, minimums or countries published. |
| Products | "clients can allocate safeguarded cash to government and treasury-only MMFs through safeguarding accounts offered by BNY" via LiquidityDirect; "USD clearing and correspondent banking network"; FX. Operating accounts and UK or euro scheme access for these firms not stated. |
| Pricing | Not published. Money market fund yields "will vary depending on market conditions and fund composition and are not guaranteed." |
| Onboarding | "LiquidityDirect also supports a single onboarding and KYC process with automated execution and settlement". No timeline or document list. |
| Technology | "The platform's automated reporting also streamlines delivery of key Treasury and safeguarding reports"; "the audit trail and reporting needed for reconciliations, monthly returns and resolution pack maintenance". API and real-time balances not stated. |
| Protection and scale | Case study: BNY "acts as a safeguarding bank for some regulated entities within the group" of AstroPay. Deposit protection and fintech client numbers not stated. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: www.bny.com, www.bny.com.
A Hamburg bank founded in 1921 that now sells banking as a service to digital firms. Its platform page lists escrow (trust) accounts for e-money companies and payment providers alongside API current and corporate accounts and fully digital account opening. It publishes nothing further on these accounts: no eligibility criteria, prices, timeline or scheme access.
| Legal status | "Sutor Bank GmbH", "Commercial Register: Hamburg Local Court HRB 178357"; "Supervised by the Federal Financial Supervisory Authority (BaFin)". |
| Who it serves | "Escrow accounts for platforms, marketplaces, crowdfunding models, e-money companies, payment providers and other digital businesses" (German page: "Treuhandkonten für Plattformen, Marktplätze, Crowdfunding-Modelle, E-Money-Unternehmen, Zahlungsdienstleister und andere digitale Unternehmen"). Countries, minimums and licence requirements not published. |
| Products | Escrow (trust) accounts; "API-Retailkonten" and "API-Firmenkonten" (API retail and corporate accounts); fiat and crypto accounts with API connection. Payment scheme access not stated. |
| Pricing | Not published for these accounts. |
| Onboarding | "Volldigitale Konteneröffnung" (fully digital account opening). No timeline, document list or licence requirement stated. |
| Technology | API retail and corporate accounts listed; no balance, reconciliation or reporting detail. |
| Protection and scale | Deposits covered by the "Entschädigungseinrichtung deutscher Banken GmbH" up to "100.000 Euro pro Einleger pro Kreditinstitut"; "Member of the Deposit Protection Fund of Private Banks". No client numbers published. |
| Date read | Read 21 October 2026 |
Facts read on 21 October 2026 from: www.sutorbank.de, www.sutorbank.de, www.sutorbank.de, www.sutorbank.de.
The index is paid for by nobody.
No provider pays to be assessed, listed or ranked, and there are no sponsored places. Providers do not apply: BCC selects the providers a business is likely to consider and scores them from their own pages. Any provider may ask to be assessed; the request changes nothing about the score.
Every figure is read from the provider's own pricing, product, legal or help page on the date shown. Providers may send corrections to [email protected]; a correction changes the page only where the provider's own page supports it. Every provider is re-read monthly and a new edition is published each October.
Banks that do not publish a safeguarding or client money account for e-money or payment firms are left out, including banks that publish only payment scheme access for these firms. Payment firms that do not hold a banking licence are not ranked as safeguarding banks.
Ranked providers may show the index badge on their own site.
The badge is free. The one condition is that it links to this page, so that a reader can check the score and the method behind it. It is withdrawn if the link is removed or the provider leaves the index.
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Nobody. No bank pays to be assessed, listed or ranked.
Since 7 May 2026 UK payment and e-money institutions that safeguard customer money have been under the FCA's CASS 15 safeguarding rules, and the account it safeguards with is the single most important relationship it has. Banks publish very little about who they will take; the index sets out what they do publish.
Some banks open accounts during authorisation and some only after it; each profile says what the bank publishes.
Every bank is re-read monthly and a new edition is published every October.
No. The index compares published facts and is not a recommendation to bank with a particular institution.
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