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 FX virtual account

This is a multicurrency virtual account that covers payments in 38 currencies* including:

Australian Dollar (AUD)
Bahrain Dinar (BHD)
Bulgarian Lev (BGN)
Canadian Dollar (CAD)
Chinese Yuan (CNY)
Croatian Kuna (HRK)
Czech Koruna (CZK)
Danish Krone (DKK)
Euro (EUR)
HongKong Dollar (HKD)
Hungarian Forint (HUF)
Indian Rupee (INR)
Indonesian Rupiah (IDR)
Israeli Shekel (ILS)
Japanese Yen (JPY)
Kenyan Shilling (KES)
Kuwait Dinar (KWD)
Malaysian Ringgit (MYR)
Mexican Peso (MXN)
New Zealand Dollar (NZD)
Norwegian Krone (NOK)
Omani Rial (OMR)
Philippine Peso (PHP)
Polish Zloty (PLN)
Qatar Rial (QAR)
Romanian Leu (RON)
Russian Ruble (RUB)
Saudi Riyal (SAR)
Singapore Dollar (SGD)
South African Rand (ZAR)
Swedish Krona (SEK)
Swiss franc (CHF)
Thai Baht (THB)
Turkish Lira (TRY)
Ugandan Shilling (UGX)
UK Sterling (GBP)
Emirati Dirham (AED)
US Dollar (USD)

This virtual account is not available for clients of the following industries:

  • Multi-Level Marketing
  • Pawnbrokers
  • Precious Metals
  • Drug paraphernalia
  • Carbon Credits
  • Crypto Currencies
  • Gambling

In addition this virtual account solution will not be available for clients from the United States who belong to the following industries:

  • Chemicals
  • Medical devices
  • Alcohol
  • Tobacco
  • Dietary supplements
  • Seeds or plants
  • Regulated financial services
  • Outbound telemarketing

My EU Pay has restricted the use of countries that this virtual account will serve. The bank where the funds are originating from and the payer must be based in one of the permitted jurisdictions below:

  • EEA countries (incl. Cyprus, Iceland, Norway, Sweden and Switzerland)
  • Åland Islands
  • Australia
  • Canada
  • Cayman Islands
  • China
  • Gibraltar
  • Guadeloupe
  • Guernsey
  • Hong Kong
  • India
  • Isle of Man
  • Israel
  • Singapore
  • Japan
  • Jersey
  • Liechtenstein
  • Martinique
  • Mayotte
  • Monaco
  • New Zealand
  • Reunion
  • Saint Martin (French Part)
  • South Africa
  • South Korea
  • Taiwan
  • United Kingdom
  • United States

* this list will be reviewed and updated periodically

** Financial Institutions are eligible for SWIFT FX virtual account subject to prior approval

3. SWIFT Plus virtual account

Our newest virtual account type supports cross border payments via SWIFT. It is suitable for a wide variety of regulated industries including retail, hospitality, crypto, and gambling.

Our SWIFT Plus service supports the following currencies:

Euro (EUR)
Australian Dollar (AUD)
Canadian Dollar (CAD)
Swiss franc (CHF)
Swedish Krona (SEK)
Norwegian Krone (NOK)
Danish Krone (DKK)

Separate virtual accounts can be provided for each individual currency.

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.

This virtual account is not available for clients of the following industries:

  • Trade in weapons and war material goods
  • Shell banks
  • Atomic power business

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

  • Afghanistan
  • Angola
  • Bahamas
  • Bangladesh
  • Barbados
  • Belarus
  • Benin
  • Botswana
  • Burundi
  • Cameroon
  • Cambodia
  • Central African Republic
  • Congo
  • Democratic People’s Republic of Korea (DPRK)
  • Djibouti
  • Egypt
  • Eritrea
  • Ethiopia
  • Ghana
  • Gabon
  • Guinea
  • Guinea-Bissau
  • Iraq
  • Iran
  • Jamaica
  • Lebanon
  • Liberia
  • Libya
  • Malawi
  • Mali
  • Mauritius
  • Mongolia
  • Myanmar
  • Nicaragua
  • Nigeria
  • Pakistan
  • Panama
  • Philippines
  • Sierra Leone
  • Somalia
  • Sudan
  • South Sudan
  • Syria
  • Tajikistan
  • Thailand
  • Timor-Leste
  • Trinidad and Tobago
  • Turkmenistan
  • Uganda
  • Ukraine
  • Uzbekistan
  • Vanuatu
  • Venezuela
  • Yemen
  • Zambia
  • Zimbabwe
Failure to comply with these restrictions can result in delayed payments or rejected payments with continuous breaches leading to virtual account closure.
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