Virtual account types

In order to enhance your payment experience, please choose the solution that best suits your needs from the list below.

My EU Pay has placed a number of restrictions on the type of industries, activities, and countries we are able to support and service.

It should be noted that the virtual account solutions are not available for the following industries:

  • Sale of used cars, light motor vehicles and other motor vehicles
  • Precious metals production
  • Ponzi / Pyramid Schemes
  • Adult Entertainment
  • Unlicensed gambling (provision of service using offshore license)
  • Precious stones and metals, watches, and jewellery
  • Processing of nuclear fuel
  • Unregulated Pharmaceuticals
  • Political Organizations & Unregistered Charities
  • Shell Banks
  • Firms involved in the servicing of illegal goods/services including but not limited to: Counterfeit Goods/trademark infringement, Human Trafficking, Child Labor, Prostitution.
  • Firms involved in the servicing and manufacturing of Military-Grade Security, explosives, mortars, weapons, ammunition, and military fighting vehicles
  • Financial Institutions making payments on behalf of other financial institutions, also known as ‘nested relationships’ or ‘Layering.’
  • Non-bank financial institutions and non-financial institutions involved in Foreign currency, money orders (not wire transfer) and travellers cheques

Visit FAQs to learn more about My EU Pay’s restrictions on countries to which payments are not permitted as well as countries not eligible for My EU Pay’s services. Please note that any restrictions placed by My EU Pay will supersede those outlined below.

Please note that virtual accounts are used for reconciliation purposes only.

Virtual account types

1. SEPA virtual account

SEPA enables customers to make euro payments to any account located anywhere in the European Economic Area. SEPA does not cover payments in currencies other than the euro.

This virtual account is available for payments within the European Economic Area and is suitable for EEA regulated crypto and gambling companies with robust AML system.

2. SWIFT Global virtual account

This solution currently supports PayOuts in USD, CAD and GBP and is only available to low risk clients. Additional currencies will be added in the coming weeks.

Payments in USD can only be made to the US.

3. SWIFT Plus virtual account

This account type supports cross border payments via SWIFT. It is suitable for a wide variety of industries.

Our SWIFT Plus service supports the following currencies:

Euro (EUR)
Canadian Dollar (CAD)
Swiss franc (CHF)
Swedish Krona (SEK)
Norwegian Krone (NOK)
Danish Krone (DKK)
Polish Zloty (PLN)
Pound sterling (GBP)

If you receive funds in a currency other than the currency in which your virtual account is denominated, our banking provider will exchange the funds at non-competitive rates.

In addition, this virtual account is not available for payments to/from the following jurisdictions:

  • Afghanistan
  • Azerbaijan
  • Barbados
  • Belarus*
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cayman Islands
  • Central African Republic
  • Chad
  • Comoros
  • Congo
  • Democratic Republic of the Congo
  • Equatorial Guinea
  • Eritrea
  • Gibraltar
  • Guatemala
  • Guinea-Bissau
  • Haiti
  • Honduras
  • Iraq
  • Iran
  • Jamaica
  • Jordan
  • Lebanon
  • Libya
  • Mali
  • Morocco
  • Mozambique
  • Myanmar
  • Nicaragua
  • Niger
  • Nigeria
  • North Korea
  • Pakistan
  • Panama
  • Philippines
  • Russia*
  • Senegal
  • Somalia
  • South Sudan
  • Sudan
  • Syria
  • Tajikistan
  • Tanzania, United Republic Of
  • Trinidad and Tobago
  • Turkmenistan
  • Uganda
  • United Arab Emirates
  • Vanuatu
  • Venezuela
  • Yemen
  • Zimbabwe

*This virtual account is not available to clients from these jurisdictions.

4. SWIFT Network virtual account

This solution currently supports PayOuts in 140+ currencies.

PayIns will be enabled in due course.

Failure to comply with these restrictions can result in delayed or rejected payments, with additional fees. Continuous breaches will lead to virtual account closure.