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EN

Additional fees and processing times for International Payments

Outbound payments:

  • - Regular payment (2-5 business days) - 7 Eur/GBP/USD + 0.25%
  • - Expedited payment (2 business days)* - 50 Eur/GBP/USD + 0.25%
  • - Express payment (same day)* - 250 Eur/GBP/USD + 0.25%
* send request using our message service

Inbound payments:

  • - Payments < 12,500 Eur/GBP/USD - 20 Eur/GBP/USD
  • - Payments < 50,000 Eur/GBP/USD - 100 Eur/GBP/USD
  • - Payments > 50,000 Eur/GBP/USD - 100 Eur/GBP/USD + 0.25%


OUR instruction (sender covers all transfer charges) - 50 Eur/GBP/USD

How do you activate your vIBAN starting with the country code GB?

Please wire the funds to this vIBAN or instruct your partners / colleagues to make payment. Please make sure they spell your name / company name correctly. Transfer among MY EU PAY users or transfer between vIBANs will not activate your vIBAN.

Payments between GB and DE vIBANs

For payments from vIBANs starting with a country code GB to vIBANs starting with a country code DE or vice versa, please use the OWT (Outgoing Wire Transfer) form.

Additional fees for provision of documents

MY EU PAY will charge a fee of 200 Eur for documents provided upon customer's request. The fee will be automatically collected from customer's vIBAN.

Minimum Required Balance

MY EU PAY requires their customers to maintain a certain monthly balance in their payment vIBANs. Failing to comply with the monthly average balance or MAB rules - or minimum balance rules - attracts penalty charges applicable to the customer.

​Below are the MAB thresholds:

Personal vIBANs:

  • - Lite > 0 Eur
  • - Basic Personal vIBAN > 10 Eur
  • - Premium Personal vIBAN > 100 Eur

Merchant vIBANs:

  • - Freelancer > 50 Eur
  • - Mini-Merchant vIBAN > 300 Eur
  • - Merchant vIBAN > 900 Eur
  • - Professional vIBAN > 1,500 Eur

Payments made to MY EU PAY vIBANs are stored in a network of stable European banks. Our customers' funds are also ringfenced, safeguarded against losses and will never be reinvested by us.

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Public Holidays

We will not process payments on the following dates:

  • - Good Friday 19 April 2019
  • - Easter Monday 22 April 2019
  • - Labor Day 1 May 2019
  • - Ascension Day 30 May 2019
  • - Whit Monday 10 June 2019
  • - Corpus Cristi 20 June 2019
  • - Assumption Day 15 August 2019
  • - Day of German Unity 3 October 2019
  • - Day of Reformation 31 October 2019
  • - All Saints Day 1 November 2019
  • - Repentance Day 21 November 2019
  • - Christmas Day 25 December 2019
  • - Boxing Day 26 December 2019

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Pre-Advice

All customers are required to pre-Advise MY EU PAY Ltd. of all individual incoming payments, equal or above 50,000 Eur to ensure that such funds may be credited to vIBANs. The pre-Advice should be clear and concise, and provide the following information relating to each incoming payment:

  • - Currency and Amount
  • - Value Date
  • - Name of Remitting Entity
  • - Purpose of Transaction (Invoice / Contract)

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My Payment is not Credited yet

As we are not the remitter of these funds, to locate the funds a trace would need to be initiated from the remitting side. Please, note that the credit of funds depends on the payment method in which the remitter sent them. You can wait until close of business to see if the funds credit your vIBAN, and if they don’t we suggest you contact the remitter.

Acceptable Use Policy

You may use our Services only for lawful purposes.

You may not use our Services:

  • - in any way that breaches any applicable local, national or international law or regulation or causes MY EU PAY to breach any applicable law or regulation;
  • - in any way that is unlawful or fraudulent, or has any unlawful or fraudulent purpose or effect;
  • - for the purpose of harming or attempting to harm minors in any way;
  • - for anything that is abusive or does not comply with our content standards;
  • - for any unsolicited or unauthorised advertising or promotional material or any other form of spam; or
  • - to deal in harmful programs like viruses or spyware or similar computer code designed to adversely affect the operation of any computer software or hardware;
  • - in any way that would locally or internationally evade any applicable taxes or facilitate tax evasion.

We do not provide our Services to businesses or support transactions which involve:

  • - tobacco, narcotics, steroids, cannabis, certain controlled substances or other products that present a risk to consumer safety;
  • - drug paraphernalia (equipment, product, or material that is modified for making, using, or concealing drugs) or transactions which involve or related to pharmaceuticals;
  • - seeds or plants;
  • - chemicals;
  • - military & semi-military goods & services (including weapons, military software or technologies); adult content;
  • - individuals, entities or countries which are subject to international sanctions;
  • - smart drugs / nootropics;
  • - plagiarism services, multi-level marketing schemes, CFD/options traders located in offshore;
  • - illegal activities, support of terrorism (including eco-terrorism and groups that support similar such activities), extremism, violence, insurgency;

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Not Supported Countries

We don't have the system for monitoring and analysis of financial transactions and algorithms for processing information identifying suspicious transactions initiated by / to the following countries so the payments from / to the countries below will be rejected / not-processed

Cuba
Iran
Iraq
North Korea
Somalia
South Sudan
Syria
Yemen

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Payments SEPA & Target 2

You can use your vIBAN to receive and make SEPA payments and Target-2 payments as long as your bank is reachable via Target- 2

Required Payment Information

To make a transfer (via SEPA/SWIFT etc.) a customer must provide:

  • 1. Name of the recipient;
  • 2. Identity of Payment Service Provider for the recipient;
  • 3. Currency Payment Transaction is to be made in;
  • 4. Country where vIBAN of the recipient is located; and
  • 5. The Unique Identifiers of recipient’s vIBAN, namely
  • (A) if Client is making a Pound Sterling payment into a vIBAN in the UK, the recipient’s sort code and vIBAN number; or
  • (B) if Client is making a non-euro payment into a vIBAN outside the UK or a SEPA Credit Transfer, the recipient’s vIBAN.

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Payments starting with a country code GB to vIBANs starting with a country code DE or vice versa

For payments from vIBANs starting with a country code GB to vIBANs starting with a country code DE or vice versa, please use the OWT (Outgoing Wire Transfer) form.

Handling Fees for Refund Requests

  • FRAD – Fraud – 500 Eur
  • CUST - Requested by customer – 250 Eur
  • TECH - Technical problems resulting in erroneous credit transfer – 50 Eur
  • AC03 - Recipient-vIBAN wrong – 50 Eur
  • AM09 - Wrong amount – 50 Eur
  • DUPL - Duplicate Payment – 50 Eur
  • Dispute resolution - 1,500 Eur / case

Payments to / from crypto exchanges: 

We support incoming payments / outgoing payments to the following exchanges only:

  • - Coinbase
  • - Kraken
  • - BitStamp
  • - Gemini

Before an inbound payment is credited or an outgoing payment is executed you will be requested to submit a short description of your business model and information relating to sending and receiving wallets.

We will impose extra charge of 0.5% on any crypto-related transaction.

Deposit and withdrawal limits

We impose limits for how much you can deposit and withdraw to / from your vIBAN. The limits are listed below:

  • - vIBANs starting with DE: Deposits unlimited / withdrawals unlimited
  • - vIBANs starting with GB: Deposits unlimited / withdrawals unlimited
  • - vIBANs starting with EE: Deposits unlimited / withdrawals: 500,000 Eur per transaction

Fees for GBP payments

Outbound payments: 10 GBP + 0.10%

Inbound payments: 10 GBP + 0.15%

Supported currencies

We support the following currencies - CAD, CZK, EUR, GBP, HRK, HUF, PLN, RON.

My Eu Pay remains fully operational during the Covid-19 outbreak. If you have any queries, please do not hesitate to get in contact with us at support@eu-payments.com
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