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.
The following currencies are supported by the service provider and can be set as default:
Only one default currency is allowed for payment processing.
Companies from the following regions can integrate:
EU (European Union)
EEA (European Economic Area)
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.
Products and services
The following table describes the services delivered by Railsbank.
The provider delivers a service of account opening. An IBAN identifies the account of a customer at a financial institution and allows to send cross-border transfers.
It is possible to open an account in the following currencies:
Railsbank accounts can be opened for citizens of the following countries:
SEPA (Single Euro Payments Area) transfers allow to send and receive payments in EUR within the eurozone.
It is possible to send SEPA transfers in the following currencies:
Railsbank transfers can be sent to the following countries:
Faster Payments, CHAPS, BACS
Instant (24/7) interbank transfers that can be filled within one business day.
It is possible to make faster payments in the following currency:
Railsbank faster payments can be executed inside the following country:
The functionality allows to issue plastic and virtual debit cards for fiat accounts.
It is possible to issue a debit card to accounts in the following currencies:
Card issuing is available for citizens of the following countries:
The functionality allows to exchange fiat currencies within client accounts through global marketplaces.
Only fixed rates are provided—live updates are not available for exchange rates.
The following currencies can be exchanged:
Target currencies are the following: