Overview
Rapyd Business, at a glance.
Rapyd Business is a payments platform headquartered in the United Kingdom, regulated by FCA, Customs and Excise Department. The company behind Rapyd Business is Rapyd Payments Limited. Business accounts cost $99 a month.
Rapyd is not a bank. UK companies contract with Rapyd Payments Limited, an FCA e-money institution (900688): their balance is e-money, safeguarded but not covered by deposit compensation. Hong Kong companies contract with Rapyd HK Limited, a money service operator: its terms say the wallet is not a stored value facility and is not covered by the Deposit Protection Scheme. Money received through the account details is held in underlying bank accounts in Rapyd's name, pooled with other customers' money.
Why businesses pick Rapyd Business
- Local account details to receive HKD, GBP and EUR
- Payouts to more than 100 countries by bank transfer, e-wallet, card and cash
- Self-serve sign-up for companies in Hong Kong and the UK
- Receives from customers and other payers, not only the company's own accounts
- Part of Rapyd's payments platform, so card acceptance can be added
Watch out for
- $99 a month, and no transfer, payout or FX fees published
- Only for companies in Hong Kong and the United Kingdom, and features differ between the two
- Money is pooled in Rapyd's own bank accounts; Rapyd does not say the account details carry the company's name
- Rapyd may treat an account as inactive after six months without activity and close it
- Trustpilot score of 2.7 from 311 reviews
Business fit
Will Rapyd Business 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 Rapyd Business's published rules
Likely fit
Rapyd Business lists both United Kingdom companies and E-commerce as accepted.
Rapyd Business 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 Rapyd Business publishes about the businesses it takes on.
Who Rapyd Business serves
- E-commerce
- Marketplaces
- iGaming
- Forex
- Crypto
- Affiliate marketing
Not supported
Industries and countries Rapyd Business does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use Rapyd Business?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
HKD, USD, EUR and GBP
Local account details
3 currencies
Account details for receiving and paying on the country's own network, without SWIFT.
HKD · Hong Kong SAR China · Hong Kong account number
Also receives USD, GBP and EUR (Hong Kong account)
GBP · United Kingdom · UK account details
EUR · Euro area · IBAN
From the Hong Kong user guide. Funds are held in pooled underlying bank accounts in Rapyd's name (HK terms schedule 5).
Hold and receive · 4 currencies
- EURLocal
- USD
- GBPLocal
- HKDLocal
Rapyd's Hong Kong guide lists HKD, USD, EUR and GBP balances; its account-summary page says EUR, GBP and USD only.
Payment reach
Not published
Who can apply
Company incorporation countries2 countries · show list
- Hong Kong SAR China
- United Kingdom
Owner nationality
Not publishedOwner residency
Not publishedCompany types
Companies
Pricing
What does Rapyd Business 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
Not published
Monthly fee
$99
Rapyd Business Account
$99 per month
Setup fee not published
Transaction fees
Other fees
Onboarding
From application to live account.
Sign-up takes minutes; the account opens after Rapyd approves the company checks (no time published)
- 1
Sign up
Create a Rapyd account at dashboard.rapyd.net and choose Rapyd Business Account.
- 2
Verify
Confirm your email and set up two-factor authentication by SMS or an authenticator app.
- 3
Activate
Enter the company's country and name, and complete the KYB checks in Get Started.
- 4
Use it
Once approved ($99 a month from then), share your local receiving account details and send payouts.
Documents you need
Not published
FAQ
Your questions, answered.
Who can open a Rapyd Business Account?
Companies in Hong Kong and the United Kingdom. Rapyd says more countries will follow, and that the features differ between the two.
How much does the Rapyd Business Account cost?
$99 a month after Rapyd approves the company checks. Testing in Rapyd's sandbox is free. Rapyd publishes no transfer, payout or FX fees for the account.
Does the account have its own account details?
Yes, local receiving accounts: a Hong Kong account that takes HKD, USD, GBP and EUR, and UK and European accounts for GBP and EUR. Rapyd's terms say the details are assigned to the company, but the money is held in pooled bank accounts in Rapyd's name, and Rapyd does not say whether the details show the company's name.
Is Rapyd a bank?
No. In the UK the account is e-money from Rapyd Payments Limited (FCA 900688), safeguarded but without deposit compensation. In Hong Kong it is provided by Rapyd HK Limited, a money service operator, and is not covered by the Deposit Protection Scheme.
Is this the same Rapyd that sells payments infrastructure?
Yes. Rapyd also sells card acceptance, payouts, wallets and card issuing to merchants and platforms; Finzil's Rapyd infrastructure page covers that side.
Alternatives
How Rapyd Business compares.
If Rapyd Business is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 Rapyd BusinessThis pagePayments platform | | PayoutsHong Kong and UK |
 AirwallexE-money institution |   | Global accountsOnline businesses |
 StatrysMoney service operator |  | Hong Kong accountFree account |
 Wise BusinessE-money institution |  | Low FX costsStandard businesses |
 PayoneerE-money institution |   | Marketplace payoutsMass payments |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.