What it does
Modulr in four products.
01
Account services
Payment accounts with their own account numbers or IBANs in 11 currencies, opened through the API.
02
Pay-ins and payouts
UK Faster Payments, Bacs, SEPA, SEPA Instant and SWIFT, with Confirmation of Payee in the UK and bulk payment runs for payroll and suppliers.
03
Virtual cards
Visa and Mastercard virtual cards with spending controls, including for travel payments.
04
Merchant payments
Open Banking payments and payout infrastructure for payment companies and acquirers.
Who uses it
The companies that build on Modulr.
Types of client
- Accounting software
- Payroll providers and bureaus
- Expense and treasury platforms
- Travel technology
- Lending platforms
- Payment companies
Accounts on Finzil that use Modulr
XaceSome accounts and the virtual cards provided by Modulr
SokinUK accounts through Modulr FS Limited, with Sokin as distributor
Other clients Modulr names
- Teya
- Rvvup
- Funding Circle
- Liberis
- Lendable
- Pax2Pay
- multifi
- Level
Coverage
Where the money can go.
Some of Modulr's FX and international payments are provided by Currencycloud through its agent Payaable (Nook), not by Modulr itself.
- Licensed for
- The UK and the EEA (from the Netherlands, with branches in France, Ireland and Spain)
- Account currencies
- 11
Show all 11
- GBP
- EUR
- USD
- CHF
- CZK
- DKK
- HKD
- JPY
- NOK
- PLN
- SEK
- Payment rails
- Faster Payments, Bacs, Direct Debit, SEPA, SEPA Instant, SWIFT, Open Banking
- Price
- Custom, through sales
Licences
Every Modulr licence.
| Country | Licence | Company and number |
|---|---|---|
 United Kingdom | Electronic money institutionFCA | Modulr FS Limited900573 |
 Netherlands | Electronic money institutionDe Nederlandsche Bank · branches in France, Ireland and Spain | Modulr Finance B.V.R182870 |
Licensed partners Modulr names
FX and international payments
The Currency Cloud Limited
FCA e-money institution 900199, reached through its agent Payaable Limited (Nook).
For your business
Your account may run on Modulr.
Payment companies and apps in the UK and Europe give their customers accounts held at Modulr. Three things to check:
Who holds the money
Look in the terms for “provided by Modulr FS Limited” or “Modulr Finance B.V.”. Then Modulr's e-money licence protects your money, and the app acts as its agent or distributor.
Not a bank deposit
Modulr says it is not a bank. Money is safeguarded, not covered by the FSCS or a deposit guarantee scheme.
Keep a second account
Two apps on the same partner can fail together. A second account issued by a different institution keeps salaries and suppliers paid.
FAQ
Your questions, answered.
Can my company open an account with Modulr?
This page covers Modulr's embedded infrastructure, sold to platforms through its sales team. Modulr also sells business plans directly to UK companies, with their own profile on Finzil (Modulr Business).
Is Modulr a bank?
No. Modulr FS Limited is an electronic money institution authorised by the FCA (900573), and Modulr Finance B.V. one licensed by De Nederlandsche Bank (R182870). Modulr Finance Limited is an agent of Modulr FS Limited, not a separate licence holder. Its Irish licence was given up in 2022; Ireland is served by the Dutch company's Irish branch.
Does Modulr do FX?
Some FX and international payments are provided by Currencycloud (The Currency Cloud Limited) through its agent Payaable, not by Modulr itself.
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