# Flutterwave: Business account > A payments platform for businesses selling in and to Africa: a free account with NGN balances, USD, GBP, EUR and AED account numbers for receiving money, payouts to bank accounts and mobile money in 39 currencies, and card and local-method acceptance. Pricing is regional. Finzil profile: https://finzil.com/providers/flutterwave · Provider website: https://flutterwave.com · Facts checked: 2026-10-20 ## Key facts - **Monthly fee:** €0 - **Setup fee:** Free - **Currencies:** 5 (to hold; payouts in 39) - **Onboarding:** 3–5 days (typical) - **Provider type:** Payments company - **IBAN:** USD, GBP, EUR and AED account numbers (no IBAN stated) - **Payment rails:** ACH, SEPA, Faster Payments, SWIFT, African bank and mobile-money payouts - **Cards:** Prepaid virtual and physical cards (merchant agreement) - **Remote opening:** Yes - **Headquarters:** United States - **Trustpilot:** 3.8 from 979 reviews (checked 2026-10-20) ## 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:** Limited liability companies, Sole proprietorships, Non-profits and NGOs, Trusts (with verification) ## Industries - **Industries served:** E-commerce, Marketplaces, Startups and SMEs, Travel, Import and export, SaaS - **Prohibited industries (provider's own list):** Businesses engaging in deceptive, unfair, or predatory practices; Businesses violating any law, statute, or regulation; Businesses infringing on third-party intellectual property rights; Unauthorised resellers of brand name or designer products/services; Businesses accepting card payments for dishonored checks or uncollectible items; Businesses accepting cards at scrip-dispensing terminals; Adult entertainment and/or adult content websites; Bestiality; Activities damaging to brand or reputation, such as child pornography, escort services, and occult practices; Digital wallet, cryptocurrency, or prepaid companies; Drug paraphernalia; Firearms, weapons, ammunition, explosives, and other harmful materials; Investment or get-rich-quick businesses; Marijuana dispensaries and related products/services; Multi-level marketing businesses; Negative-option marketing and renewal practices; Pawn shops; Pseudo pharmaceuticals; Psychics or occult businesses; Quasi-cash or stored value; Substances that mimic illegal drugs; Virtual currency or credits that can be monetised or converted to physical or digital goods or services; Identification services; Business, content, services, or behaviour promoting unlawful violence or harm on protected characteristics; Predatory financial services such as credit counselling, wealth management, or loan consulting; Pornography or other adult-audience products or services; Bail bond services, bankruptcy lawyers, or law firms collecting funds for non-legal-service fees; In-person gambling, sweepstakes, contests, or fantasy sports leagues offering monetary or value prizes; Bidding-fee auctions; Using Flutterwave's card-not-present checkout as a virtual POS for in-person card-present transactions; Currency exchange services (source: https://flutterwave.com/ng/support/my-account/businesses-and-services-prohibited-by-flutterwave) ## Licences - United States: NMLS / state regulators, Money transmitter (state licences), Flutterwave Payments, LLC, register no. 2391594 (https://nmlsconsumeraccess.org/) - Nigeria: Central Bank of Nigeria, Switching and processing licence, Flutterwave Technology Solutions Limited (https://www.cbn.gov.ng/PaymentsSystem/PSPs.html) - Nigeria: Central Bank of Nigeria, International money transfer operator, Flutterwave Tech Payments Limited (https://www.cbn.gov.ng/PaymentsSystem/InternationalMoneyTransferOperators.html) Safeguarding: Flutterwave is a payments company, not a bank, and balances are not deposits. Its merchant terms allow settlement holds and, in Nigeria, a rolling reserve of up to 10% for 180 days. The UK and EU Flutterwave entities do not hold payment licences of their own. ## Fees Source: https://flutterwave.com/ng/pricing (checked 2026-10-20) ### Plans - **Flutterwave for Business:** Free ### Incoming - SEPA: Free · Domestic transfer to EUR account numbers - Faster Payments (GBP): Free · Domestic transfer to GBP account numbers - SWIFT / international: 0.5%, min $30 - ACH / local USD: Free · Domestic transfer to USD account numbers ### Outgoing - Local transfer to another bank: NGN 10 · Nigeria, up to NGN 5,000; NGN 25 to 50,000, NGN 50 above. Ghana GHS 10 to banks, 1.5% to mobile money ### Currency exchange (FX) - FX markup: Not published ## Opening an account Opening an account typically takes three to five business days. 1. **Sign up.** Create an account and choose the signup country. 2. **Account type.** Choose a Registered Business or Other Entity account and accept the merchant agreement. 3. **Verification.** Submit business, identity, address and bank or mobile-money documents and verify directors and owners. 4. **Account live.** After approval, enable Treasury for USD, GBP, EUR and AED account numbers and start receiving and paying out. Documents: Not published ## Pros and cons - Pro: Free to open, no monthly fee - Pro: USD, GBP, EUR and AED account numbers; free domestic transfers into them - Pro: Payouts in 39 currencies, including bank and mobile money across Africa - Pro: Card and local-method acceptance in the same dashboard - Pro: Accepts companies, sole proprietors, non-profits and trusts - Con: Incoming SWIFT costs 0.5%, at least $30 - Con: No FX rate published - Con: Rolling reserves and holds possible under the merchant terms - Con: Regional pricing; much of it set per market - Con: Crypto, wallets, currency exchange and in-person gambling refused; online betting needs approval ## Finzil's take (opinion) Flutterwave is the account to look at if you sell to customers in Africa and need to pay out there, with account numbers in four major currencies to receive money. It is a payments platform, not a bank, so expect reserves and holds, and keep a separate bank account for your main balance. ## Alternatives - [Payoneer](https://finzil.com/providers/payoneer): E-money institution · UK - [Airwallex](https://finzil.com/providers/airwallex): E-money institution · UK - [Wise Business](https://finzil.com/providers/wise): E-money institution · UK, Belgium - [Stripe](https://finzil.com/providers/stripe): E-money institution · Ireland ## FAQ **Is Flutterwave a bank?** No. Flutterwave is a payments company. In the US, Flutterwave Payments, LLC holds state money-transmitter licences (NMLS 2391594); in Nigeria the group holds Central Bank of Nigeria switching, processing and international money-transfer licences. **How much does a Flutterwave account cost?** Opening is free with no monthly fee. Domestic transfers into USD, GBP, EUR and AED account numbers are free; incoming SWIFT costs 0.5% (at least $30). Payouts and acceptance are priced by country. **Does Flutterwave give an IBAN?** Flutterwave gives approved merchants USD, GBP, EUR and AED account numbers and bank details that pay into Flutterwave balances; it does not describe them as named IBANs. **Which businesses does Flutterwave refuse?** Its list includes adult content, crypto, wallets and stored value, weapons, drugs, MLM, pawn shops, currency exchange and in-person gambling; sports betting and internet gambling need pre-approval. --- Finzil (finzil.com) is an independent directory of business accounts. No paid placement. Find providers that accept your business: https://finzil.com/find