Corporate IBAN accounts

Collect deposits (B2B and C2B), make currency conversions and execute payments using our European IBAN solutions.

IBAN accounts for your business

Pencepay is connected to multiple Banking Providers for provision of bank accounts, in multiple countries. Our partner's IBANs can be used to collect customer deposits (C2B), settlements from your acquirers and to pay your suppliers and business partners in multiple currencies.

Due to wide reach and presence on the payments market for more than 14 years, Pencepay is in a position to help with opening bank accounts with various licensed financial institutions in Europe for international companies.

You can access all your accounts through a single user interface (Dashboard) and API for direct integration. Thus, if the market conditions change, you do not have to change your workflows.

Both low-risk businesses such as retail, and "high risk" businesses such as travel agencies, trading companies and platform providers are considered.

Collecting deposits

Both your individual and business customers can pay into your unique IBAN, and the deposits are immediately visible to you.

Deposits into the currency account are possible in multiple currencies, depending on the Banking Provider used. Typically we can provide EUR-EUR deposits, but also acceptance of non-EUR funds into EUR account (with automatic conversion into EUR).  


You can order payments to your suppliers, partners and other third-parties from the Dashboard or using the API. If needed, you can convert funds into another currency before they are sent out. 

Using the Banking Providers we partner with, we can provide acceptance of funds via SEPA and SWIFT channels, and payout using the same. Payments are typically executed 2 to 3 times per working day. 

EUR and GBP accounts are typically available as the base currency of the provided accounts, and IBAN is issued by the European Union fully-licensed bank or by eMoney company with similar license for opening accounts and executing payments on behalf of their users. 

Currency conversion

If you wish to pay your beneficiary in another currency, you can easily order a currency conversion with automatic payout on completion.

Depending on the Banking Provider offered, as per your business needs, we can provide conversion rates from 0.2% on top of the mid-market rate. 

Conversion typically happens 1 to 2 times per day, as well as payout to your beneficiaries of the converted funds.

Full integration into your business processes

Depending on your requirements and the concrete Banking Provider used, we can provide API access for all the banking activities on your account. This includes automatically collecting info on arrived deposits, making currency conversion and payout of funds to beneficiaries.

Do you have any questions? Feel free to contact us.