# PayNovus: Business account > A Bulgarian e-money institution's business account: an individual IBAN in your company's name with EUR, GBP and USD, virtual IBANs on request, SEPA, SEPA Instant, Faster Payments and SWIFT to 180+ countries, opened online. It also runs card acquiring and card programmes. Prices are not published. Finzil profile: https://finzil.com/providers/paynovus · Provider website: https://paynovus.com · Facts checked: 2026-10-20 ## Key facts - **Monthly fee:** Not published - **Currencies:** 3 (EUR, GBP, USD; payments in 35+) - **Onboarding:** 3–5 days (typical) - **Provider type:** E-money institution - **IBAN:** Individual IBAN in the company's name, plus virtual IBANs - **Payment rails:** SEPA, SEPA Instant, Faster Payments, SWIFT - **Remote opening:** Yes - **Headquarters:** Bulgaria - **Currency codes:** EUR, GBP, USD - **Trustpilot:** 3.2 from 1 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:** Legal entities ## Industries - **Industries served:** E-commerce, Financial institutions, iGaming, Marketplaces - **Prohibited industries (provider's own list):** Dealers involved in distribution of arms and munitions; Companies that produce, manufacture or sell weapons; Firearms or other weapons facilitation, sale or distribution; Military goods, military software or technologies; Weapons and military-grade security services; Unlawful drugs, including cannabis industry; Marijuana activities, creation, facilitation, sale or distribution; Drug paraphernalia; CBD and related products; Chemicals and dietary supplements in cross-border facilitation, sale or distribution; Unlicensed, unregistered or unregulated Money Service Businesses; Shell banks; Unlicensed banks; Anonymous numbered accounts; Payable-through accounts; Unauthorised, unlicensed or unregulated virtual-currency exchanges; Transactions deriving from cryptocurrencies; Cryptoasset activities; Nested financial-institution relationships or layering; Ponzi schemes and pyramid schemes; Speculation on FX-rate changes; FX business without a licence outside the EEA; Speculative trading; Cash-funded remittances; Carbon credits and related trading; Licensed gambling operators outside the EEA, Isle of Man, Channel Islands and Gibraltar; Online gambling entities restricted under UIGEA/Regulation GG for USD accounts; Casinos; Betting, lotteries, casino chips and off-track betting; Human trafficking; Human exploitation; Child labour; Prostitution; Red-light businesses, adult entertainment and dating; Counterfeit goods and trademark infringement; Precious metals and stones, including diamond traders; Unauthorised resale of luxury goods, including watch traders; Telemarketing and contact centres; Multi-level marketing; Pawnbrokers; Scrap-metal traders; Energy traders; Mining and extraction; Unregistered charities; Political organisations; Activity promoting discrimination, bigotry or violence; Activity requiring a governmental licence where the operator lacks one; OFAC-listed or sanctioned countries, businesses, organisations, entities or individuals (source: https://www.paynovus.com/swift-payments) - **Permitted industries (provider's own list):** European merchants; Payment service providers; E-commerce businesses; Businesses needing dedicated IBANs; Businesses needing SEPA, SWIFT and local payouts; Businesses needing Visa, Mastercard or UnionPay card programmes; Platforms needing acquiring and settlement infrastructure ## Licences - Bulgaria: Bulgarian National Bank, E-money institution, PayNovus AD, register no. Decision No. 73 (https://www.bnb.bg/) Safeguarding: PayNovus is an e-money institution: balances are e-money, not bank deposits, and no deposit insurance applies. Its pages do not describe how client money is safeguarded. ## Fees Source: https://www.paynovus.com/exchange-rates (checked 2026-10-20) ### Plans - **Business account:** Custom pricing ### Currency exchange (FX) - FX markup: Not published · ECB reference rate plus a markup ## Opening an account Opening an account typically takes three to five business days. 1. **Apply.** Start the online business-account application. 2. **KYB.** Complete the registration form, representative details and AML declarations. 3. **Approval.** PayNovus reviews the company and approves the account. 4. **Account live.** Receive the IBAN, request virtual IBANs if needed, and fund the account. Documents: Not published ## Pros and cons - Pro: Individual IBAN in your company's name, with virtual IBANs on request - Pro: SEPA, SEPA Instant, Faster Payments and SWIFT - Pro: Licensed gambling operators from the EEA, Isle of Man, Channel Islands and Gibraltar accepted, with approval - Pro: EU-licensed e-money institution with a Portugal branch - Pro: Card acquiring and Visa, Mastercard and UnionPay card programmes from the same provider - Con: No prices published - Con: FX uses ECB reference rates plus an unpublished markup - Con: Crypto, money services, CFD speculation and carbon credits refused - Con: Casinos and betting refused, and gambling outside the EEA and Crown dependencies - Con: Trustpilot score of 3.2 from a single review ## Finzil's take (opinion) PayNovus is a long-licensed Bulgarian EMI whose business account gives an individual IBAN with the main European and UK rails, and which takes EEA-licensed gambling operators. Nothing is priced in public and its refused list is long, so ask for a fee schedule before applying. ## Alternatives - [iCard](https://finzil.com/providers/icard): E-money institution · Bulgaria - [Paysera](https://finzil.com/providers/paysera): E-money institution · Lithuania - [Wallester](https://finzil.com/providers/wallester): Payment institution · Estonia - [3S Money](https://finzil.com/providers/3s-money): E-money institution · UK ## FAQ **Is PayNovus licensed?** Yes. PayNovus AD is an e-money institution licensed by the Bulgarian National Bank (Decision No. 73 of 21 July 2011), passported in the EEA, with a branch in Portugal. **How much does a PayNovus account cost?** PayNovus publishes no account prices. FX uses European Central Bank reference rates plus a markup. **Does PayNovus accept gambling businesses?** Licensed operators from the EEA, the Isle of Man, the Channel Islands and Gibraltar, with approval. Operators licensed elsewhere, casinos and betting are on its refused list, and online gambling is restricted for USD accounts. **Which businesses does PayNovus refuse?** Its list includes weapons and military goods, cannabis and CBD, unlicensed money services, crypto, shell banks, speculative and FX-rate trading, carbon credits, adult entertainment, precious metals, telemarketing, pawnbrokers, scrap metal, energy traders and mining. --- Finzil (finzil.com) is an independent directory of business accounts. No paid placement. Find providers that accept your business: https://finzil.com/find