Overview
Privalgo, at a glance.
Privalgo is an e-money institution headquartered in the United Kingdom, regulated by FCA, DNB. The company behind Privalgo is Privalgo Limited. The business account has no monthly fee. Opening an account takes from 24 hours. Non-residents are accepted: Privalgo opens UK business accounts for owners who live abroad, with proof of address from their home country.
Privalgo is not a bank. Client money is kept separate from the firm's own money and safeguarded at Tier 1 UK banks, with an annual safeguarding audit. It is not covered by the FSCS.
Why businesses pick Privalgo
- A multi-currency business account in your company's name, with named accounts at partner banks and virtual IBANs
- Free to open, with no monthly fee
- 38 currencies to buy and hold, and payments out in 36
- Forward contracts for payments up to two years ahead, and market orders that trade at your target rate
- A dedicated relationship manager, who can meet you in person
- Bulk payments by file upload or API, and free, instant transfers between Privalgo accounts
- Licensed in the UK and the Netherlands, for UK and EU companies
Watch out for
- The exchange margin is not published: each trade is priced as a percentage that varies by currency pair and amount
- No fee schedule is published; SWIFT payments from the UK cost £5 to £30 depending on the destination
- Minimum transfer £5,000, according to its FAQ (its newer Manage page says there are no minimum transaction sizes)
- No cards
- Named accounts and virtual IBANs are arranged with the team, and the partner banks are not named
- No list of accepted countries, company types or refused industries is published
- Support in office hours only, Monday to Friday, 8am to 5:30pm
Business fit
Will Privalgo accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on Privalgo's published rules
Needs review
Privalgo works with Importers and exporters, but does not publish the countries it accepts companies from.
Privalgo does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What Privalgo publishes about the businesses it takes on.
Who Privalgo serves
- Import and export
- Executives and finance teams
- Holding companies
- Financial institutions
All 6 industries on Privalgo's accepted list
- Importers and exporters
- Finance teams managing multi-currency receivables
- Businesses with complex group treasury structures
- Businesses receiving funds on behalf of clients
- PSPs, fintechs and financial institutions with high transaction volumes
- Leisure and entertainment
Not supported
Industries and countries Privalgo does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use Privalgo?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
38 currencies
Buy and hold · 38 currencies
- EUR
- USD
- GBP
- CHF
- CAD
- AUD
- JPY
- AED
- BHD
- BRL
- CNY
- CZK
- DKK
- ETB
- GHS
- HKD
- HRK
- HUF
- ILS
- INR
- KRW
- KWD
- MUR
- MXN
- MYR
- NOK
- NZD
- PLN
- QAR
- RON
- SAR
- SEK
- SGD
- THB
- TRY
- TWD
- VND
- ZAR
Pay out · 36 currencies
- EUR
- USD
- GBP
- CHF
- CAD
- AUD
- JPY
- AED
- BHD
- BRL
- CNY
- CZK
- DKK
- ETB
- HKD
- HUF
- ILS
- INR
- KRW
- KWD
- MUR
- MXN
- MYR
- NOK
- NZD
- PLN
- QAR
- RON
- SAR
- SEK
- SGD
- THB
- TRY
- TWD
- VND
- ZAR
Seven currencies have special requirements: BRL, CNY, INR, KRW, MYR, TWD and VND.
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Limited companies
Pricing
What does Privalgo cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
Free
Business account
£0 per month
£0 setup · £0 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Outgoing | ||
| SWIFT / international | £5–30 | Fixed fee, within a range · From the UK, depending on the destination country |
| To another Privalgo account | Free | No charge · Between Privalgo accounts; instant |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published | Quoted per trade: a percentage that varies by currency pair and amount; the portal shows Privalgo's buy rate next to yours |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Virtual card issue | Not offered | Not available |
Forward contracts: Up to 24 months
Compare FX providersOnboarding
From application to live account.
- 1
Register
Register online on Privalgo's client portal, or leave your details on the contact form.
- 2
Checks
The onboarding team and a relationship manager carry out the identity and anti-money-laundering checks.
- 3
Documents
Provide ID, proof of address, the company documents and evidence of the source of funds.
- 4
Account live
The account opens in as little as 24 hours and a relationship manager is assigned. Named accounts and virtual IBANs are arranged on request.
Documents you need
- Proof of identity: valid passport or national ID card
- Proof of address: utility bill, bank statement or rental agreement from your home country
- Business documentation: certificate of incorporation, memorandum and articles of association, proof of business address
- Evidence of the source of funds
FAQ
Your questions, answered.
Is Privalgo a bank?
No. Privalgo Limited is an e-money institution authorised by the FCA (FRN 900887). EU clients are served by Privalgo B.V., an e-money institution licensed by De Nederlandsche Bank (R196968) since 1 August 2025. Client money is safeguarded at Tier 1 UK banks and is not covered by the FSCS.
Does my company get its own account details?
Yes. Privalgo offers named accounts in your company's name with its banking partners, so your clients see your details rather than Privalgo's, and virtual IBANs. You arrange them with Privalgo's team. The partner banks are not named.
How much does Privalgo cost?
Opening and keeping the account is free. SWIFT payments from the UK cost £5 to £30 depending on the destination, and transfers between Privalgo accounts are free. On exchange, Privalgo takes a percentage of each trade that varies by currency pair and amount; no figure is published, and the portal shows Privalgo's buy rate next to yours.
Which currencies does Privalgo support?
38 currencies to buy and hold, and 36 to pay out, including USD, EUR, GBP, AED, CNY, HKD, INR, JPY, SGD and ZAR. BRL, CNY, INR, KRW, MYR, TWD and VND have special requirements.
Can I fix an exchange rate for a future payment?
Yes. Forward contracts fix a rate today for a payment up to two years ahead, and market orders trade automatically when your target rate is reached. Privalgo Markets Limited is authorised by the FCA (FRN 950964) for cash-settled FX swaps and non-deliverable forwards.
Can non-residents open an account?
Yes. Privalgo opens UK business accounts for owners who live abroad, with proof of address from their home country, in as little as 24 hours.
Alternatives
How Privalgo compares.
If Privalgo is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 PrivalgoThis pageE-money institution |   | Named accountsForwards |
 iBanFirstPayment institution |  | FX specialistFree account |
 EburyE-money institution | | FX and hedgingInternational trade |
 Currencies DirectE-money institution |   | FX40+ currencies |
 CaxtonE-money institution | | FX and paymentsPrepaid cards |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.