What is TransferPay?

TransferPay is an electronic money institution that allows you to have an IBAN account to send and receive money from anywhere in the world.

Who can open a TransferPay account?

Individual and Business clients that have a valid document which meet our KYC requirements and are over the age of 18. You can find more information about this in our Legal Notice on our website or by clicking on the following link: Legal – Who can use the services of TransferPay?

What is KYC?

Being a financial institution, we have to follow the regulations against money laundering and the financing of terrorism to avoid that our services are used fraudulently, representing a threat to society. We can only detect and identify suspicious activities if we have the sufficient amount of information about our clients, their typical transactions and the sources of the funds. KYC means that all the activities that we know about who our customers are and detect any unusual behaviour. Firstly, we request personal data from our clients, they answer the questions regarding their financial transactions and only then is there a supervised analysis, and in the case of suspicion, taking the necessary action. More information about TransferPay KYC at: https://www.transferpay.uk/en/what-is-know-your-customer-kyc/

How can I open an account with TransferPay?

It’s simple and quick. Have your personal ID ready (passport, local identity document or driving license) and register by clicking here.

In what currencies can I open my account?

You can open your account in three currencies: Euros, Pound Sterling or US Dollars. This means that you can mainly send and receive money in these currencies. For each currency, you will be assigned an account number.

How do we use your data?

We save your information in a safe way, as we are obliged to conform with our regulators. This data is not shared with third parties unless it’s vital for the use of our system (for example, to transmit associated bank information to complete a transfer), following the rule of law, and consent as described in our privacy policy.

How is my data verified with TransferPay?

We are a financial institution, so we have to know who is using our services. 

We help fight money laundering and protect the money of everything. Depending on where and how much money you send, we will ask you to verify your identity or additional information. This helps us keep your money in a safe place.

How long does it take to verify my documents?

We work as quickly as possible. It can take between two and five business days.

How can I make a complaint?

At TransferPay, we listen to our clients and customers. Payment service providers and electronic money issuers normally have to mandatorily respond to certain types of complaints within 15 business days. If you need to present a complaint, please click on the following link: https://www.transferpay.uk/en/claim-request-or-complaint-on-transferpay/