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)


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.

Service name


Execution details


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.

Account currencies

It is possible to open an account in the following currencies:

  • EUR (mono-currency accounts only)

  • GBP (mono-currency accounts only)

  • USD (mono-currency accounts are possible for onboarding)


Railsbank accounts can be opened for citizens of the following countries:

  • EU (European Union)

  • EEA (European Economic Area)

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:

  • EUR


Railsbank transfers can be sent to the following countries:

  • 27 countries of the EU.

  • 4 countries from the EFTA:

    • Liechtenstein

    • Norway

    • Iceland

    • Switzerland

  • Microstates within EU:

    • Vatican City

    • San Marino

    • Monaco

    • Andorra

  • The United Kingdom.

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:

  • GBP (Pound sterling)


Railsbank faster payments can be executed inside the following country:

  • The United Kingdom.

Card issuing

The functionality allows 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:

  • EUR (Euro)

  • GBP (Pound sterling)


Card issuing is available for citizens of the following countries:

  • EU (European Union)

  • EEA (European Economic Area)

  • UK

  • Australia

  • Singapore

FX exchange

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.

Exchanged currencies

The following currencies can be exchanged:

  • EUR

  • GBP

Target currencies are the following:

  • GBP

  • EUR

  • AUD

  • CAD

  • SGD

  • HKD

  • NZD

  • USD

  • JPY

  • CHF

  • NOK

  • DKK

  • SEK

  • HUF

  • CZK

  • RON

  • PLN

  • HRK