Overview
ABF Pay, at a glance.
ABF Pay is a money services business (canada) headquartered in Canada, regulated by FINTRAC. The company behind ABF Pay is ABFPAY.COM LTD. Business accounts cost €50 a month. Opening an account takes 3–5 days.
ABF Pay's terms say it is not a bank and does not store client funds: money received on a vWallet is held only until it is used for payments. The partner institutions that issue the IBANs are not named, and no deposit protection applies.
Why businesses pick ABF Pay
- vWallets in more than 10 currencies, with sending and receiving in 20 named in its FAQ
- Personal IBAN from a partner institution, as well as pooled account details
- Published price list: SEPA €10 and Faster Payments £10 a transfer
- Opened online, with no visit
- Free transfers between ABF Pay accounts
Watch out for
- €375 to open, €50 a month and a €250 minimum balance
- Not a bank or e-money institution: only a Canadian money services business registration
- Every incoming payment costs 0.2%, at least €10; SWIFT out costs 0.1%, at least €80
- Partner institutions not named; the personal IBAN is their decision
- Gambling, alcohol, tobacco, weapons, oil, precious metals and pharmaceuticals not accepted
Business fit
Will ABF Pay accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on ABF Pay's published rules
Needs review
ABF Pay works with Cross-border businesses receiving and sending international payments, but does not publish the countries it accepts companies from.
ABF Pay does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What ABF Pay publishes about the businesses it takes on.
Who ABF Pay serves
- Import and export
- E-commerce
- Startups and SMEs
All 4 industries on ABF Pay's accepted list
- Cross-border businesses receiving and sending international payments
- Businesses needing multi-currency vWallets and currency exchange
- Companies paying international suppliers, counterparties and teams
- Businesses requiring SEPA, international-wire and Faster Payments access
Not supported
Industries and countries ABF Pay does not accept, from its own published lists.
Industries
- Any type of business that is pending incorporation, legal registration, e.g. where the business owner is not able to demonstrate an incorporation / registration of business activity in due form
- Unlicensed financial institutions (does not apply for licence seekers for non-yet-licenced business)
- Anonymous or Numbered Accounts
- Cash and Check Handling: Check Cashing, Deposit Taking, Cash Transfer
- Any products harmful to human health: tobacco, e-cigarettes and e-liquid
- Transactions involving Human Organs
- Production of violent content
- Psychic services
- Selling, hosting, distributing, producing or promoting offensive materials, including materials that incites or promotes racial hatred or discrimination based on gender, race, religion, national origin, physical ability, sexual orientation, or age
- All industries and activities involving production or distribution of weapons and other military products
- Cultural heritage, Antiques or art dealers
- Dealers in precious metals and stones
- Shell banks and/or businesses dealing with shell banks
- Transactions related to cultural artefacts, ivory or other items related to protected species, or archaeological, historical, cultural and religious significance, or of rare scientific value
- Oil Industry
- Illegal financial institutions
- Unregistered charities and association
- Non-governmental charities and religious organizations
- Unregistered charities and associations
- Illegal securities trading
- Online pharmacies (operating outside EEA/UK)
- Tobacco and Vaping products (operating outside EEA/UK)
- Gambling
- Illegal trade in tobacco products
- Alcohol
- Prescription pharmaceuticals
- Steroids
- Weapons
- Narcotic substances
- Pornography
- Unlicensed lottery
- Illegal software
- Counterfeit or unauthorized goods
- Products or services that infringe property or proprietary rights
- Other products or services prohibited by law
Countries
- Not published
Coverage
Where can you use ABF Pay?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
20 to send and receive
- EUR
- GBP
- CHF
- CAD
- AUD
- JPY
- CZK
- DKK
- HKD
- HUF
- ILS
- MXN
- NOK
- NZD
- PLN
- RON
- SAR
- SEK
- SGD
- ZAR
ABF Pay says its vWallets come in more than 10 currencies, including AED, CNY and PLN.
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Incorporated companies and other registered legal entities (none pending registration, no unregistered charities or religious organisations)
Pricing
What does ABF Pay cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
€375
Monthly fee
€50
Business vWallet
€50 per month
€375 setup · €975 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Incoming | ||
| SEPA | 0.2%, min €10 | Percentage, with a minimum charge · Any incoming transfer |
| SWIFT / international | 0.2%, min €10 | Percentage, with a minimum charge · Any incoming transfer |
| From another ABF Pay account | Free | No charge |
| Outgoing | ||
| SEPA | €10 | Fixed fee |
| Faster Payments (GBP) | £10 | Fixed fee |
| SWIFT / international | 0.1%, min €80 | Percentage, with a minimum charge |
| To another ABF Pay account | Free | No charge |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Personal account
Create and verify a personal ABF Pay account, then choose Open a Business account.
- 2
Company details
Fill in the registration form and upload the company documents, ownership structure and identity papers of owners and directors.
- 3
Compliance review
ABF Pay checks the business, its payment flows and source of funds; companies under two years old add a business plan.
- 4
Account live
After approval you pay the €375 setup fee and receive the vWallet and IBAN details.
Documents you need
Not published
FAQ
Your questions, answered.
Is ABF Pay a bank?
No. ABFPAY.COM LTD. is registered with FINTRAC in Canada as a money services business (M20767876) for foreign exchange, money transfers and payment services. Its terms say it does not provide banking services; its application to the Bank of Canada as a payment service provider is still in review.
How much does ABF Pay cost?
Opening costs €375, paid after approval, then €50 a month with a €250 minimum balance. Incoming payments cost 0.2% (at least €10), SEPA and Faster Payments transfers out €10 or £10, and SWIFT out 0.1% (at least €80).
Do I get my own IBAN?
ABF Pay offers pooled account details and helps clients obtain a personal IBAN from one of its partner institutions; the partner makes the final decision.
Which businesses does ABF Pay not accept?
Its list includes gambling and unlicensed lotteries, alcohol, tobacco and vaping, weapons, the oil industry, precious metals and stones, antiques and art dealers, prescription pharmaceuticals, adult content, shell banks and businesses not yet registered.
Alternatives
How ABF Pay compares.
If ABF Pay is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 ABF PayThis pageMoney services business (Canada) |  | Partner IBANMulti-currency |
 PaysetE-money institution |  | 35 currenciesHigh-risk industries |
 PayDoE-money institution |  | Dedicated IBANHigh-risk industries |
 3S MoneyE-money institution |   | Local IBANsNon-residents accepted |
 Wise BusinessE-money institution |  | Low FX costsStandard businesses |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.