Frequently Asked Questions
Everything you need to know about FluxRemit accounts, payments, currencies, and getting started.
General
FluxRemit is a multi-currency banking and foreign exchange platform built for businesses that operate across borders. We provide named IBANs, UK sort codes, multi-currency wallets, and access to global payment rails — all from a single dashboard.
Our core services include SEPA Euro accounts, GBP business accounts, multi-currency wallets, and foreign exchange. Virtual Cards are coming soon. Each service is designed to help your business collect and send funds locally in the markets where you operate.
FluxRemit is not a bank. We are a financial technology platform operated by 1519822 B.C. LTD, a registered Money Services Business (MSB C100000840) in Canada. We partner with regulated financial institutions to provide account and payment services to our clients.
FluxRemit is registered and domiciled in Canada and primarily serves business clients in Canada.
All applications are subject to KYB onboarding, identity verification and sanctions screening regardless of country of incorporation.
Account Opening
All applications are subject to our onboarding and due diligence process. For businesses, this includes KYB (Know Your Business) verification of the business registration, ownership structure and beneficial owners. For individuals, this includes KYC (Know Your Customer) verification of identity and address and, where required, information on source of funds. We may request additional information or documents at any stage of the review.
Eligibility is also subject to geographic restrictions. See "Which countries and regions do you serve?" in our FAQ for details.
Most applications are reviewed within 1–3 business days once all required documents are submitted. Complex corporate structures or high-risk jurisdictions may require additional review time. You will receive email updates throughout the process.
Typically we require proof of company registration, identification for directors and beneficial owners, proof of business address, and a description of your business activity. Additional documents may be requested based on your industry, transaction volumes, or jurisdiction.
Click Get Started on our website to reach the contact form, or email us at [email protected]. Our team will guide you through the application and verification steps.
SEPA Euro
A SEPA Euro account gives your business a dedicated IBAN in your company name within the Single Euro Payments Area. You can receive euro payments from clients and partners across 36 European countries as easily as a domestic transfer.
Yes. Where supported by the sending bank, SEPA Instant credits arrive in seconds, 24/7. Standard SEPA transfers typically settle within one business day.
Yes. You can initiate SEPA credit transfers to any eligible IBAN within the SEPA zone directly from your FluxRemit dashboard, subject to your account limits and compliance review.
GBP Accounts
FluxRemit GBP accounts support Faster Payments for same-day transfers, CHAPS for high-value same-day settlement, and BACS for batch payments. This lets your UK clients pay you locally without international wire fees.
Yes. Approved clients receive a dedicated UK sort code and account number in their business name. Account details are available in your dashboard once onboarding is complete.
Yes. You do not need to be incorporated in the United Kingdom to open a GBP account with FluxRemit. Many international businesses use UK local accounts to collect payments from British clients and suppliers.
Multi-Currency
FluxRemit supports major global currencies including EUR, GBP, USD, and additional currencies depending on your account type and jurisdiction. All balances are visible and manageable from a single multi-currency dashboard.
Yes. You can convert between supported currencies directly in your dashboard. Exchange rates are quoted in real time before you confirm each transaction, with no hidden markups beyond the stated spread.
Virtual Cards are currently in development and marked as Coming Soon. They will allow you to issue virtual payment cards linked to your FluxRemit balances for online and subscription payments. Join our waitlist by contacting [email protected].
Payments & Transfers
Depending on your account type, FluxRemit connects you to SEPA, SEPA Instant, Faster Payments, CHAPS, SWIFT, ACH, and wire transfers. This gives your business local collection and disbursement capabilities across key markets.
Domestic rails such as Faster Payments and SEPA Instant typically settle within seconds to minutes. Standard SEPA and BACS transfers settle within one business day. International SWIFT transfers generally take 1–3 business days depending on correspondent banks and destination country.
Yes. Limits are set based on your account type, business profile, and transaction history. Initial limits apply during onboarding and can be increased following a review. Contact support if you need higher limits for a specific transaction.
Fees vary by service, currency, and payment rail. A full fee schedule is provided during onboarding and available in your account dashboard. We believe in transparent pricing — all applicable fees are shown before you confirm a transaction.
Security & Compliance
We use bank-grade encryption, multi-factor authentication, and continuous transaction monitoring. Client funds are held in segregated accounts with our regulated banking partners. Our platform undergoes regular security assessments.
FluxRemit is committed to preventing financial crime. All clients undergo identity verification and ongoing due diligence in line with Canadian MSB regulations and international AML standards. Read our full AML KYC Notice for details.
Reach our team at [email protected]. We respond to business enquiries within one business day. Existing clients can also access support through their account dashboard.
Fiat payment processing and foreign exchange for FluxRemit accounts are handled by a licensed payment institution regulated within the European Union. Foreign exchange is executed at the point of each transaction. The applicable exchange rate and any fees are disclosed before you confirm the transaction. Settlement currencies: EUR via SEPA Credit Transfer, GBP via SWIFT and USD via SWIFT.
FluxRemit offers stablecoin (USDT and USDC) conversion services for approved business clients. Services are provided under FINTRAC MSB registration No. C100000840. All stablecoin transactions are subject to blockchain wallet screening, enhanced due diligence and ongoing transaction monitoring. Fiat and digital-asset payment flows are kept operationally separate.
You may request account closure at any time by contacting FluxRemit support at [email protected]. We will process your request on completion of any pending transactions and subject to applicable record-keeping obligations.
If your account is under compliance review at the time of your closure request, funds may be retained for as long as necessary to complete that review. Funds may also be retained as required by applicable law. You will be notified of any hold and kept updated on its status.
Full account closure terms are set out in the FluxRemit Client Terms and Conditions. These are accessible via the link in the footer of this website.
Yes. FluxRemit does not accept clients, process transactions or provide services connected to certain restricted jurisdictions.
The following countries are excluded:
- Belarus (Canadian SEMA; service agreement)
- Cuba (OFAC comprehensive sanctions)
- Iran (FATF Calls for Action; Canadian SEMA; OFAC; UN Security Council)
- Myanmar / Burma (FATF Calls for Action; Canadian SEMA)
- North Korea (FATF Calls for Action; Canadian SEMA; OFAC; UN Security Council)
- Russia (Canadian SEMA; service agreement)
- South Sudan (Canadian SEMA; UN targeted measures)
- Sudan (Canadian SEMA; UN measures)
- Syria (Canadian SEMA; OFAC; UN Security Council)
- Venezuela (Canadian SEMA; OFAC targeted sanctions)
- Zimbabwe (Canadian SEMA)
The following jurisdictions require Enhanced Due Diligence and individual review before onboarding (they are not automatically excluded):
Afghanistan, Burkina Faso, Cameroon, Democratic Republic of Congo, Haiti, Jamaica, Mali, Mozambique, Nigeria, Philippines, Senegal, South Africa, Tanzania, Vanuatu, Vietnam, Yemen.
FluxRemit screens all applicants and transactions against:
- OSFI consolidated Canadian sanctions list
- Special Economic Measures Act (SEMA) sanctions
- UN Security Council consolidated sanctions list
- FATF Calls for Action jurisdictions
- EU consolidated sanctions list
- OFAC Specially Designated Nationals (SDN) list
Reference links:
- FATF: www.fatf-gafi.org
- OSFI: www.osfi-bsif.gc.ca
- OFAC: ofac.treasury.gov
This framework is maintained under FluxRemit's FINTRAC MSB registration (No. C100000840).
