# Rapyd Business: Rapyd Business Account for Hong Kong and UK companies

> A multi-currency account from the payments company Rapyd for companies in Hong Kong and the United Kingdom: local account details to receive HKD, GBP and EUR, payouts to more than 100 countries and a virtual card, for $99 a month. The money is held in pooled bank accounts in Rapyd's name, and Rapyd does not say whether the account details show the company's name.

Finzil profile: https://finzil.com/providers/rapyd-business · Provider website: https://rapyd.net · Facts checked: 2026-11-05

## Key facts

- **Monthly fee:** $99 (after the company checks are approved)
- **Currencies:** 4 (HKD, USD, EUR, GBP balances)
- **Onboarding:** Not published (active after Rapyd approves the company checks)
- **Provider type:** Payments platform
- **IBAN:** Local receiving accounts for HKD, GBP and EUR (assigned to the company; name on the details not published)
- **Payment rails:** Local transfers in Hong Kong, the UK and the EEA; payouts to 100+ countries
- **Cards:** One virtual card
- **Safeguarding:** Pooled accounts in Rapyd's name; no deposit protection
- **Non-residents:** Not published
- **Remote opening:** Yes
- **Headquarters:** United Kingdom
- **Local account details:** HKD (Hong Kong account number); GBP (UK account details); EUR (IBAN) (From the Hong Kong user guide. Funds are held in pooled underlying bank accounts in Rapyd's name (HK terms schedule 5).)
- **Trustpilot:** 2.7 from 311 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:** Hong Kong SAR China, 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:** Companies

## Industries

- **Industries served:** E-commerce, Marketplaces, iGaming, Forex, Crypto, Affiliate marketing
- **Prohibited industries (provider's own list):** Not published

## Licences

- United Kingdom: FCA, Electronic money institution, Rapyd Payments Limited, register no. 900688 (https://register.fca.org.uk/s/search?q=900688)
- Hong Kong: Customs and Excise Department, Money service operator, Rapyd HK Limited, register no. 19-06-02796

Safeguarding: 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.

## Fees

Source: https://docs.rapyd.net/en/activating-your-rapyd-business-account.html (checked 2026-11-05)

### Plans

- **Rapyd Business Account:** 99 USD a month (Charged after KYB approval)

## Opening an 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: Not published

## Pros and cons

- Pro: Local account details to receive HKD, GBP and EUR
- Pro: Payouts to more than 100 countries by bank transfer, e-wallet, card and cash
- Pro: Self-serve sign-up for companies in Hong Kong and the UK
- Pro: Receives from customers and other payers, not only the company's own accounts
- Pro: Part of Rapyd's payments platform, so card acceptance can be added
- Con: $99 a month, and no transfer, payout or FX fees published
- Con: Only for companies in Hong Kong and the United Kingdom, and features differ between the two
- Con: Money is pooled in Rapyd's own bank accounts; Rapyd does not say the account details carry the company's name
- Con: Rapyd may treat an account as inactive after six months without activity and close it
- Con: Trustpilot score of 2.7 from 311 reviews

## Finzil's take (opinion)

The Rapyd Business Account is for a Hong Kong or UK company that already sells across borders and needs to receive in HKD, GBP or EUR and pay people in many countries. At $99 a month with no published transfer or FX prices, ask for the fee schedule before signing, and note that the money sits pooled in Rapyd's own bank accounts.

## Alternatives

- [Airwallex](https://finzil.com/providers/airwallex): E-money institution · UK
- [Statrys](https://finzil.com/providers/statrys): Money service operator · Hong Kong
- [Wise Business](https://finzil.com/providers/wise): E-money institution · UK, Belgium
- [Payoneer](https://finzil.com/providers/payoneer): E-money institution · UK

## FAQ

**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.

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