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Railsr (Railsbank )
Overview
Railsr (Railsbank) is an open banking API and compliance platform with headquarters in London, UK. The service provider gives regulated and un-regulated companies access to global banking via API. The main functionalities delivered by the service provider are local and international transfers, account opening, card issuing, and currency exchange.
Default currencies
The following currencies are supported by the service provider and can be set as default:
EUR
GBP
Only one default currency is allowed for payment processing.
Supported regions
Companies from the following regions can integrate:
EU (European Union)
EEA (European Economic Area)
Prerequisites
An active financial services license is required to implement the integration. Contact your manager for additional details.
It is possible to receive a sub-license from the service provider to execute financial services.
Website
Products and services
The following table describes the services delivered by Railsr.
Service name | Description | Execution details |
|---|---|---|
IBANs | The provider delivers an account opening service. An IBAN identifies the account of a customer at a financial institution and allows you to send cross-border transfers. | Account currencies It is possible to open an account in the following currencies:
Locations Railsr accounts can be opened for citizens of the following countries:
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SEPA transfers | SEPA (Single Euro Payments Area) transfers allow to send and receive payments in EUR within the eurozone. | Transfer currencies It is possible to send SEPA transfers in the following currencies:
Locations Railsr transfers can be sent to the following countries:
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Faster Payments, CHAPS, BACS | Instant (24/7) interbank transfers that can be filled within one business day. | Transfer currencies It is possible to make faster payments in the following currency:
Locations Railsr faster payments can be executed inside the following country:
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Card issuing | The functionality allows you to issue plastic and virtual debit cards for fiat accounts. | Card currencies It is possible to issue a debit card to accounts in the following currencies:
Locations Card issuing is available for citizens of the following countries:
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FX exchange | The functionality allows you to exchange fiat currencies within client accounts through global marketplaces. Only fixed rates are provided—live updates are not available for exchange rates. | Exchanged currencies The following currencies can be exchanged:
Target currencies are the following:
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