# Modulr Business: UK business plans > A UK e-money account for paying payroll and suppliers: the business gets its own sort code and account number, connects its payroll or accounting software (Xero, Sage, BrightPay, IRIS and others) and approves payment runs in Modulr's portal. Plans start at £16.25 a month with 35 payments included. The account is issued by Modulr FS Limited, an FCA e-money institution. Finzil profile: https://finzil.com/providers/modulr-business · Provider website: https://modulrfinance.com · Facts checked: 2026-11-05 ## Key facts - **Monthly fee:** £16.25 (Payroll Bronze; payables and bundle plans £20 to £500, plus VAT) - **Setup fee:** £0 - **Currencies:** 2 (GBP and EUR accounts; 19 more to pay out on payables plans) - **Onboarding:** Up to 5 days (Modulr: approval usually within 5 days) - **Provider type:** E-money institution - **IBAN:** UK sort code and account number in the business's name, plus EUR account details - **Payment rails:** Faster Payments, Bacs, CHAPS, SEPA, SEPA Instant (other currencies through Currencycloud) - **Cards:** Virtual company cards on payables and bundle plans - **Safeguarding:** Safeguarded; not covered by the FSCS - **Non-residents:** Not published - **Remote opening:** Yes - **Headquarters:** United Kingdom - **Local account details:** GBP (Sort code and account number, Faster Payments, Bacs); EUR (IBAN, SEPA, SEPA Instant) (Account issued to the business (terms 3.1); Modulr supports UK Confirmation of Payee.) - **Trustpilot:** 4.5 from 165 reviews (checked 2026-11-05) ## Who can apply - **Non-resident owners** (owner or director living outside the company's country): Not published - **Countries of incorporation accepted:** United Kingdom (only these) - **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 companies, Sole traders, Partnerships, Limited partnerships and LLPs, Charities (companies limited by guarantee or CICs) ## Industries - **Industries served:** Startups and SMEs, Professional services, Travel - **Prohibited industries (provider's own list):** Not published ## Licences - United Kingdom: FCA, Electronic money institution, Modulr FS Limited, register no. 900573 (https://register.fca.org.uk/s/firm?id=001b000003IL2TvAAL) Safeguarding: The account is an e-money account issued by Modulr FS Limited (FCA 900573) and sold by its agent Modulr Finance Limited. Modulr is not a bank: money is held in safeguarded accounts and the terms say the Financial Services Compensation Scheme does not apply. Foreign exchange and payments in other currencies are provided by The Currency Cloud Limited under its own terms. ## Fees Source: https://www.modulrfinance.com/pricing-for-business (checked 2026-11-05) ### Plans - **Payroll Bronze:** 16.25 GBP a month (35 payments included; plus VAT) - **Payroll Silver:** 67.2 GBP a month (200 payments included; plus VAT) - **Payroll Platinum:** 300 GBP a month (1,100 payments included; plus VAT) - **Payables Bronze:** 20 GBP a month (Accounts Payable and Spend Management; 35 payments; plus VAT) - **Payables Silver:** 75 GBP a month (200 payments; plus VAT) - **Payables Platinum:** 320 GBP a month (1,100 payments; plus VAT) - **Bundle Bronze:** 30 GBP a month (Payroll, payables and cards; 80 payments; plus VAT) - **Bundle Silver:** 110 GBP a month (500 payments; plus VAT) - **Bundle Platinum:** 500 GBP a month (3,000 payments; plus VAT) ### Incoming - Faster Payments (GBP): £0.8 · Pay-ins count towards the plan's included payments, then £0.32 to £0.80 each ### Outgoing - SEPA: £0.8 · EUR payments count as plan payments, as for GBP - Faster Payments (GBP): £0.8 · After the payments included in the plan: £0.80 on Bronze, £0.40 on Silver, £0.32 on Platinum - CHAPS (GBP): £17.5 - SWIFT / international: £3 · Payments in other currencies, through Currencycloud; SWIFT fees on top - To another Modulr Business account: Free · Between your own Modulr accounts ### Currency exchange (FX) - FX markup: 0.5–1.2% · Accounts Payable product only, provided by The Currency Cloud Limited ## Opening an account Usually within 5 days, says Modulr 1. **Choose a plan.** Pick a Payroll, Accounts Payable or bundle plan on Modulr's pricing page and fill in the short registration form. 2. **Set up the subscription.** Add the payment details for the monthly plan; Modulr emails a link to the full application. 3. **Application.** Limited companies are looked up on Companies House. Add directors and every owner with 25% or more; owners verify their ID with a selfie check. 4. **Approval.** Once approved, set up the Modulr Portal and connect your payroll or accounting software. Documents: Company registration number, registered and trading address, website; Business activity, industry, expected monthly payment value and volume; Directors' full names and dates of birth; All owners with 25% or more: ID document, selfie check (Onfido) and in some cases proof of address; Ownership structure chart, certified, for multi-company ownership ## Pros and cons - Pro: Its own sort code and account number, with Faster Payments and Bacs - Pro: Plans from £16.25 a month with 35 payments included - Pro: Connects to payroll and accounting software: BrightPay, Xero, Sage, IRIS, Staffology and others - Pro: Approval workflows and approvals from a mobile app - Pro: Unlimited virtual company cards on payables and bundle plans - Pro: Open to sole traders and partnerships as well as limited companies - Con: A payments account, not an everyday current account: plans are sold by number of payments, and each extra one costs £0.32 to £0.80 - Con: Only for UK-registered businesses - Con: Payments in other currencies cost £3 each plus SWIFT fees, and exchange costs 0.5% to 1.2%, through Currencycloud - Con: CHAPS payments cost £17.50 - Con: Not a bank: no FSCS protection ## Finzil's take (opinion) Modulr is a payments engine, not a current account: it suits a UK business that runs payroll or supplier payment runs from Xero, Sage or a payroll package and wants them approved and sent from one account with its own sort code. Because plans are priced by number of payments, it is cheap for a few dozen payments a month and adds up for a business with thousands. Keep an ordinary bank account alongside it. ## Alternatives - [Tide](https://finzil.com/providers/tide): E-money institution · UK - [ANNA Money](https://finzil.com/providers/anna-money): E-money account · UK - [Starling Bank](https://finzil.com/providers/starling-bank): Bank · UK - [Airwallex](https://finzil.com/providers/airwallex): E-money institution · UK ## FAQ **Is Modulr a bank?** No. The account is an e-money account issued by Modulr FS Limited, authorised by the FCA as an electronic money institution (900573). Money is safeguarded, and the terms say the FSCS does not apply. **How much does Modulr cost?** Payroll Payments plans cost £16.25, £67.20 or £300 a month with 35, 200 or 1,100 payments included. Accounts Payable and Spend Management plans cost £20, £75 or £320, and bundles £30, £110 or £500. Extra payments cost £0.80, £0.40 or £0.32. CHAPS costs £17.50 and payments in other currencies £3. Prices exclude VAT. **Who can open a Modulr account?** UK limited companies, sole traders, ordinary partnerships, limited partnerships and LLPs. Charities only as companies limited by guarantee or CICs registered with a UK charity commission; societies and unregistered charities are not accepted. **Does Modulr do international payments?** On the Accounts Payable product, in 19 currencies besides GBP and EUR. The FX and international payments are provided by The Currency Cloud Limited, at 0.5% to 1.2% for exchange and £3 per payment plus SWIFT fees. **Is this the same Modulr that powers other fintechs?** Yes, the same company. Modulr also sells its accounts and payments to platforms by API; Finzil's Modulr infrastructure page covers that side. --- Finzil (finzil.com) is an independent directory of business accounts. No paid placement. Find providers that accept your business: https://finzil.com/find