Platform / Local Accounts & Collections
Local Accounts & Collections
Named accounts and payments for your users.
Give each user their own receiving details in supported currencies, match every deposit to the right person, and let users withdraw to accounts in their own name. Approved business users can collect from customers and pay suppliers.
What it does
Fiat money movement your users can rely on.
- Named receiving detailsDetails in the user's own name: an IBAN for EUR (SEPA Credit Transfer and SEPA Instant), a sort code and account number for GBP (Faster Payments, with CHAPS and Bacs set up per account), and US account and routing numbers (ACH, Same Day ACH and wires) set up on request. Enabled for each approved account and market.
- More payment methods and currenciesPlanned for programmes: SWIFT payments in and out for EUR and GBP, SGD by FAST, CAD by EFT, Interac e-Transfer and wires, MXN, BRL and COP receiving and payouts, and further international currencies. Each currency is configured by payment method and settlement. Currency details
- Conversion and routing optionsOptional automatic conversion or routing of incoming funds, set per programme through the API or white-label app where enabled. Planned; options depend on the currency and programme.
- Deposit attributionIncoming payments are matched to the right end user and shown with their status.
- Own-name withdrawalsUsers withdraw to bank accounts in their own name.
- Third-party collections and payoutsFor eligible business end users after review, by counterparty and currency.
- Global PaymentsStablecoin- or currency-funded payouts delivered in local currency, route by route. Global Payments
How it works
From receiving details to withdrawal.
Verify the user
Identity or business verification under your programme.
Issue details
Named receiving details for the currencies enabled.
Receive and attribute
Deposits are matched to the user and recorded.
Withdraw or pay
Own-name withdrawals; approved payouts for business users.
Availability
What is available, and on what terms.
Availability is confirmed for each programme, end-user type and location.
- Named receiving details, deposits and own-name withdrawalsFor approved programmesEUR, GBP and USD for approved programmes. Currencies, account details and payment features are enabled per account and market.
- Customer collections and supplier payouts for approved business accountsFor approved programmesAvailable to eligible businesses following approval, in the currencies and markets enabled for their account.
- More account and payment currencies, with local or SWIFT paymentsPlannedPlanned: receive, hold, convert and pay in more currencies. Indicative examples, confirmed for each currency. No launch date.
- Conversion preferences for incoming moneyPlannedKeep supported fiat balances and convert when you choose, or use automatic conversion where enabled. Available options will depend on the currency and account.
- Pay from stablecoins or currency balances; recipients receive local currencyComing soonThe recipient is paid in local currency into their bank account through a supported local payment method. Destinations and recipients are shown in your account when available.
Used by
Where this module fits.
Exchanges
Named fiat accounts, deposits and withdrawals inside the exchange you already run.
Local Accounts & Collections · optional ConversionOTC & brokers
Fiat funding and payouts, conversion, liquidity and settlement records per client.
Accounts · Fiat & Stablecoin ConversionCross-border payments & trade
Collections and local-currency payouts funded from stablecoin or currency balances.
Collections · Conversion · Global PaymentsWallets & fintech apps
Accounts, wallets and conversion for individuals and businesses, in your app or a branded app.
All modulesBusiness payment & treasury platforms
Local receiving, third-party payments, FX and optional stablecoin treasury.
Local Accounts & Collections · ConversionQuestions
Good to know.
Can individuals pay other people?
Own-name rules apply to own-name deposits and withdrawals. Payouts to other individuals and businesses depend on the route and on approval for your programme; see Global Payments.
Is a payment destination the same as a local account?
No. Being able to pay into a country does not mean users there can receive local account details.
Do we need to use your wallets or app?
No. Local Accounts & Collections can be integrated into your existing product on its own.
Tell us what you want to build.
Share your business, your users, their locations and the modules you need. We will propose a scope, delivery approach and operating arrangement.