FAQ

Montify is a digital payment company and Electronic Money Institution authorised by the Financial Conduct Authority in the UK (reference 901069).

• A multi-currency account in 14 currencies
• Local and international payments via SEPA, SWIFT, Faster Payments and BACS
• Currency exchange
• Online access through our web platform

Complete the online application, submit your corporate documents and tell us about your business. We usually complete the review in 2 to 3 business days. See onboarding for the full steps.

Yes. Account opening is entirely online, with no branch visit.

Yes. Some business activities and countries of residence fall outside our risk appetite. The full lists are in our Risk Appetite Statement. If you're unsure, ask us before you apply.

Around 2 to 3 business days from when we receive your application and all required documents. Incomplete or unacceptable documents can delay this.

Once your account is open you receive a GBP account with its own sort code and account number. IBANs are issued in your company's name.

Yes. To open another account, email our support team at support@montify.com.

No. Scans of your documents are enough.

We only restrict an account when regulators require it or when there's a genuine reason, for example a security risk, suspected money laundering or terrorist financing, failure to provide source-of-funds documents, or another regulatory breach.

Send a message to support@montify.com.

• Montify to Montify: instant
• Faster Payments and BACS: usually almost immediate, sometimes up to 1 business day
• SEPA: 1 to 2 working days
• SWIFT: usually 2 to 5 working days, occasionally longer

Delivery also depends on time zones and local banking hours.

EUR, GBP, USD, CHF, PLN, CZK, DKK, NOK, BRL, HKD, CNY, SGD, AED and ZAR.

A payment shows as pending until our payment processor completes it. Processing also depends on the other bank, and some transfer types aren't processed at weekends or on public holidays.

We may need more information from you or the recipient, or the delivery window may include a weekend or public holiday, which don't count as working days.

For large amounts we may ask for proof of the source of funds, such as bank statements, contracts or certified financial statements.

Contact us straight away and we'll do our best to help. Once funds have reached the beneficiary we often can't recover them, so you may need to contact the beneficiary directly.

Let us know as soon as possible so we can correct it.

It depends on the payment type, the currency and the counterparty bank. Refunds can take up to 30 working days.

Our rates are based on interbank exchange rates. A currency exchange charge applies, which depends on whether the currency is in the major or minor category.

You can exchange between any of the 14 currencies supported on your account.

No. You only pay the fees in your agreed tariff. Ask us for a quote tailored to your business.

The fee is shown when you set up the transaction, before you confirm it.

With OUR, you cover all transfer charges and the recipient receives the full amount. With SHA (shared), you pay your own payment fee and the recipient covers any intermediary bank charges.

Yes. Customer funds are safeguarded under the UK Electronic Money Regulations 2011 and the EU Electronic Money Directive (2009/110/EC).

Montify is registered under the Data Protection Act, and our procedures and systems are designed to meet data security regulations. Read more in our Privacy Policy.

Select "Forgot password" on the sign-in page and enter your registered email address to receive a reset link. Use at least 8 characters, including upper and lower case letters, a number and a special character.

This usually happens after several incorrect login or one-time-password attempts. Email support@montify.com from your registered email address and we'll unblock it.

Email support@montify.com from your registered email address.