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/