What documents do I need to open a business account?

Standard KYB documentation: certificate of incorporation, memorandum and articles of association, register of directors and shareholders, proof of business address, and identity verification for all directors and beneficial owners holding 25% or above. Enhanced due diligence may apply for regulated entities or complex structures.

How long does approval take?

Standard onboarding completes within 1 to 3 business days for straightforward corporate structures. Complex entities, multi-jurisdictional groups, or structures requiring enhanced due diligence may take 5 to 10 business days. Your dedicated relationship manager provides status updates throughout the process.

How is my money protected?

Client funds are held in segregated accounts at tier-1 global banks, fully separated from Transwap operating capital. Transwap is regulated across 5 jurisdictions and subject to ongoing oversight including capital adequacy, safeguarding, AML and CFT compliance, and technology risk management.

Why do you request invoices or agreements for some payments?

As a regulated payment institution, Transwap conducts transaction-level due diligence under AML and CFT obligations. Supporting documentation verifies the commercial purpose of inbound payments, supports sanctions screening, and enables the fastest possible processing of higher-value receivables.

Collections

Open an Account

Built for structured inbound flows across jurisdictions.

Virtual local
receiving accounts

Virtual IBANs, sort codes, and routing numbers across 15+ currencies. Counterparties pay as if you were domiciled in their market. Consolidated inbound flow into one account.

Real-time inbound payment tracking

Monitor inbound flows in real time across every currency held. Full status visibility from receipt through to conversion or settlement.

Flexible counterparty instructions

Share standardised payment instructions, virtual account details, and reference codes with counterparties. Match inbound funds to invoices via API-driven reconciliation.

ISO 27001-aligned security controls

Infrastructure operated under ISO 27001-aligned controls. AML/CFT and sanctions screening applied to every inbound transaction across 5 regulated jurisdictions.

Dedicated relationship management

Institutional clients are assigned a dedicated relationship manager. Structured onboarding, corridor-specific guidance, and escalation paths. Not a support ticket queue.

Transaction monitoring and fraud controls

Continuous transaction monitoring, velocity limits, sanctions screening, and counterparty due diligence aligned to regulatory standards across MAS, FCA, HKCED, Bank Indonesia, and FINTRAC.

Virtual local
receiving accounts

Virtual IBANs, sort codes, and routing numbers across 15+ currencies. Counterparties pay as if you were domiciled in their market. Consolidated inbound flow into one account.

Real-time inbound payment tracking

Monitor inbound flows in real time across every currency held. Full status visibility from receipt through to conversion or settlement.

Flexible counterparty instructions

Share standardised payment instructions, virtual account details, and reference codes with counterparties. Match inbound funds to invoices via API-driven reconciliation.

ISO 27001-aligned security controls

Infrastructure operated under ISO 27001-aligned controls. AML/CFT and sanctions screening applied to every inbound transaction across 5 regulated jurisdictions.

Dedicated relationship management

Institutional clients are assigned a dedicated relationship manager. Structured onboarding, corridor-specific guidance, and escalation paths. Not a support ticket queue.

Transaction monitoring and fraud controls

Continuous transaction monitoring, velocity limits, sanctions screening, and counterparty due diligence aligned to regulatory standards across MAS, FCA, HKCED, Bank Indonesia, and FINTRAC.

One platform
cross-border inbound settlement.

Consolidate inbound settlement across every market you operate in. Counterparties pay via familiar domestic rails; funds land in your multi-currency account with full transaction detail for reconciliation. Structured. Transparent. Regulated across 5 jurisdictions.

Explore Fintech-as-a-Service API.Explore institutional FX conversion.Explore multi-currency business accounts.Explore cross-border payments to 180+ countries.View our regulatory licences across 5 jurisdictions.

Built for regulated businesses collecting across jurisdictions.

For regulated businesses, marketplaces, platforms, and corporate treasury teams collecting from counterparties across multiple markets. Consolidate receivables, reduce FX conversion cost on inbound flows, and reconcile at scale via API.

Speak to Our Team

Structured inbound collection
in three steps.

Open a multi-currency account.

Complete institutional KYB and onboarding. Receive virtual local account details across major currencies. IBANs, sort codes, and routing numbers within your Transwap dashboard.

Share account details with counterparties.

Provide counterparties with the domestic payment details appropriate to their market. They settle via familiar local rails; you receive funds without cross-border transfer overhead.

Reconcile and manage every inbound flow.

Funds land in your multi-currency account with full transaction detail. Reconcile via API, convert at institutional-grade FX rates, or settle onwards. All from one dashboard.

Local collection accounts in key markets.

Singapore

Receive payments with a local account number.

United Kingdom

Receive payments with account number and sort code.

Hong Kong

Receive payments with a local account number.

Indonesia

Receive payments with a local account number.

Hold and convert multiple currencies.

Australian Dollar

Canadian Dollar

Swiss Franc

Chinese Yuan (Offshore)

Danish Krone

Euro

British Pound

Hong Kong Dollar

Japanese Yen

Norwegian Krone

New Zealand Dollar

Swedish Krona

Singapore Dollar

US Dollar

UAE Dirham

Czech Koruna

Hungarian Forint

Israeli Shekel

Mexican Peso

Polish Zloty

Romanian Leu

Saudi Riyal

Turkish Lira

South African Rand

Thai Baht

Send payments worldwide.

Afghanistan

Åland Islands

Albania

Algeria

American Samoa

Andorra

Angola

Anguilla

Antarctica

Antigua and Barbuda

Argentina

Armenia

Aruba

Australia

Austria

Azerbaijan

Bahamas

Bahrain

Bangladesh

Barbados

Belarus

Belgium

Belize

Benin

Bermuda

Bhutan

Bolivia

Bonaire, Sint Eustatius and Saba

Bosnia and Herzegovina

Botswana

Bouvet Island

Brazil

British Indian Ocean Territory

British Virgin Islands

Brunei Darussalam

Bulgaria

Burkina Faso

Burundi

Cambodia

Cameroon

Canada

Cape Verde

Cayman Islands

Central African Republic

Chad

Chile

China

Christmas Island

Cocos (Keeling) Islands

Colombia

Comoros

Congo

Cook Islands

Costa Rica

Crimea Region of Ukraine

Croatia

Cuba

Curaçao

Cyprus

Cyprus, Turkish Cypriot Administered (Removed)

Czech Republic

Democratic Republic of the Congo

Denmark

Djibouti

Dominica

Dominican Republic

Donetsk Region of Ukraine

Ecuador

Egypt

El Salvador

Equatorial Guinea

Eritrea

Estonia

Eswatini

Ethiopia

Falkland Islands

Faroe Islands

Fiji

Finland

France

French Guiana

French Polynesia

French Southern Territories

Gabon

Gambia

Georgia

Germany

Ghana

Gibraltar

Greece

Greenland

Grenada

Guadeloupe

Guam

Guatemala

Guernsey

Guinea

Guinea-Bissau

Guyana

Haiti

Frequently asked questions

Further detail on onboarding, virtual account provisioning, and reconciliation workflows.

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What's required to open a multi-currency account for collections?

Certificate of incorporation, register of directors and ultimate beneficial owners, proof of business address, and identification for authorised signatories. Additional documentation may be requested based on jurisdiction and business activity.

How long does onboarding take?

Most institutional applications are reviewed within 24 to 48 hours. Complex structures or regulated industries may require further review. A dedicated relationship manager is assigned at the start of onboarding.

How are inbound client funds safeguarded?

Inbound funds are held in segregated client accounts at tier-1 global banks, fully separated from Transwap's operating capital. Transwap is regulated across 5 jurisdictions under ongoing capital adequacy, AML/CFT, and technology risk management standards.

Why are supporting documents sometimes requested on inbound payments?

As a regulated payment institution, Transwap conducts transaction-level due diligence under AML/CFT obligations. Supporting documents verify the commercial purpose of inbound flows, enable sanctions screening, and help us process higher-value transactions efficiently.

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