# Finmo: Global Currency Account > A treasury and payments platform with named multi-currency business accounts: collect with local account details, hold several currencies and pay out in 180+ markets. Group licences in Singapore, Australia, New Zealand, the UK, the US, Canada, Dubai and Hong Kong. FX is 0.50% on major currencies and 1.00% on others; a $25 SWIFT fee applies. Accounts are switched on after KYB and an agreement with sales. Finzil profile: https://finzil.com/providers/finmo · Provider website: https://finmo.net · Facts checked: 2026-10-21 ## Key facts - **Monthly fee:** Not published - **Setup fee:** Free (account creation) - **Currencies:** 27+ (Count varies by page: 27+, 38+, 40+) - **Onboarding:** 3–5 days (typical) - **Provider type:** Payment institution group (licensed in 8 jurisdictions) - **IBAN:** Named business accounts with local account details - **Payment rails:** SWIFT, SEPA, ACH, FedNow, FAST, PayNow and other local rails - **Safeguarding:** Funds safeguarded with partner institutions - **Remote opening:** Yes - **Headquarters:** Singapore ## Who can apply - **Non-resident owners** (owner or director living outside the company's country): Not published - **Countries of incorporation accepted:** Not published - **Countries of incorporation refused:** Not published - **Owner residency accepted:** Not published - **Owner residency refused:** Not published - **Owner nationality refused:** Not published - **Company types accepted:** Not published ## Industries - **Industries served:** Startups and SMEs, Import and export, Financial institutions, Marketplaces - **Prohibited industries (provider's own list):** Inappropriate content, goods or services that promote Hate/Violence/Racism/Religious persecution; Drug paraphernalia; Drugs / Illicit substances, steroids and certain controlled substances or other products that present a risk to consumer safety; Encourage, promote, facilitate or instruct others to engage in illegal activity; Infringe any duly registered copyrights/trademarks or other violation of intellectual property rights; Involve the sale of products or services identified by government agencies to have a high likelihood of being fraudulent; Involve offering or receiving payments for the purpose of bribery or corruption; Pyramid or Ponzi schemes; Relate to the sale of dangerous or hazardous goods; Sale of government ID’s or documents; Stolen goods including digital and virtual goods; Transactions involving fraudulent / deceptive marketing practices; Violate any law, statute, ordinance or regulation; Weapons, firearms and ammunitions (source: https://www.finmo.net/terms-of-service) - **Permitted industries (provider's own list):** Startups; Financial institutions and banks; Importers and exporters; Marketing and affiliate agencies; HR and EOR platforms; CFOs and finance teams ## Licences - Singapore: Monetary Authority of Singapore, Major Payment Institution, Finmo Tech Pte. Ltd., register no. PS20200640 - Australia: ASIC and AUSTRAC, Australian Financial Services Licence; remittance and digital currency exchange registrations, Paynow Technology Pty Ltd (trading as Finmo Tech), register no. 535371 - New Zealand: Financial Service Providers Register, Financial service provider, Paynow Technology Pty Ltd (trading as Finmo Tech), register no. FSP1003815 - United Kingdom: Financial Conduct Authority, Authorised electronic money institution, Finmo UK Group Limited, register no. 901102 - United States: FinCEN, Money services business registration, Finmo LLC, register no. 31000248116829 - Canada: FINTRAC and Bank of Canada, Money services business and payment service provider, Finmotech Canada Inc., register no. C100000380 - United Arab Emirates: Dubai Financial Services Authority, Money services (DIFC), Finmo DIFC Limited, register no. F010781 - Hong Kong: Hong Kong Customs and Excise Department, Money service operator, Finmo HK Limited, register no. 26-03-03326 Safeguarding: Customer funds are safeguarded in accordance with local regulations and held separately with financial institution partners. ## Fees Source: https://www.finmo.net/pricing (checked 2026-10-21) ### Plans - **Account with a minimum monthly fee (sales):** Custom pricing ### Outgoing - SWIFT / international: $25 · SWIFT (SHA); plus a 0.10% cross-border convenience fee on like-for-like currency transfers ### Currency exchange (FX) - FX markup: 0.5% · USD, EUR, GBP, JPY, AUD, NZD, CAD, CHF, NOK, SEK and SGD - FX markup: 1% · Other currencies ### Cards - Physical card issue: Not offered ## Opening an account Opening an account typically takes three to five business days. 1. **Sign up.** Register on the Finmo dashboard; sandbox access is immediate. 2. **Business Activation (KYB).** Give company registration and address, an authorised officer with ID, shareholders above 25% and the industry and product description. 3. **Review.** Compliance reviews and may ask for more; low-risk industries are usually done the same day. 4. **Account live.** Email sales to activate the GCA wallet and sign the agreement, then add currencies in the dashboard. Documents: Company registration and company address details; Authorised officer: identity verification documents; Shareholder information (owners of more than 25%); Industry type and product description ## Pros and cons - Pro: Named multi-currency accounts with local account details - Pro: Payouts in 180+ markets - Pro: FX at 0.50% on 11 major currencies and 1.00% on the rest - Pro: Licensed in 8 jurisdictions across Asia-Pacific, the UK, North America and Dubai - Pro: Same-day activation for most low-risk industries - Con: The account is switched on by email to sales after KYB; there is no instant self-serve opening - Con: The monthly fee is not published ('typically a minimum monthly fee') - Con: Accepted countries and company types are not published - Con: SWIFT payments cost $25 plus a 0.10% convenience fee - Con: Gambling, crypto, charities, loans and several other lines need prior approval ## Finzil's take (opinion) Finmo is a treasury platform more than a bank account: useful if you collect from customers in many markets and want local account details and a 0.5% FX rate. Plan on a sales conversation and a monthly minimum you are not shown up front. ## Alternatives - [Airwallex](https://finzil.com/providers/airwallex): E-money institution · UK - [Wise Business](https://finzil.com/providers/wise): E-money institution · UK, Belgium - [Payoneer](https://finzil.com/providers/payoneer): E-money institution · UK - [Ebury](https://finzil.com/providers/ebury): E-money institution · UK ## FAQ **Is Finmo a bank?** No. Finmo is a payment group. Finmo Tech Pte. Ltd. holds a Major Payment Institution licence from MAS (PS20200640), and group entities hold licences or registrations in Australia, New Zealand, the UK, the US, Canada, Dubai and Hong Kong. **How much does Finmo cost?** Account creation is free. SWIFT payments cost $25 (SHA), FX is 0.50% on major currencies and 1.00% on others, and a 0.10% cross-border fee applies to like-for-like transfers. The monthly fee is not published; Finmo says an account typically carries a minimum monthly fee. **How do I open a Finmo account?** Complete KYB on the Finmo dashboard, then email sales to activate the Global Currency Account wallet and sign the agreement. Activation is usually the same day for low-risk industries. **Which businesses does Finmo not accept?** Its list includes hate and violence content, drugs and paraphernalia, stolen goods, bribery, pyramid schemes, hazardous goods, government ID sales and weapons. Gambling, virtual currencies, charities and several other lines need prior written approval. --- Finzil (finzil.com) is an independent directory of business accounts. No paid placement. Find providers that accept your business: https://finzil.com/find