Questions
Accounts
What currencies can I hold?
USD, EUR and GBP.
How do I send and receive payments?
By SWIFT. We do not offer local payment schemes such as SEPA, UK Faster Payments or ACH.
Do you offer cards?
No.
Can I pay in or take out cash?
No.
Can more than one person use a business account?
Yes. Each person has their own login.
How do I get statements?
You can download statements at any time from the online platform.
Is there a minimum balance?
No. Your account does need at least one payment, in or out, every 12 months. Otherwise it becomes dormant and view-only. You can then close it and have your balance returned free of charge, or pay the dormant account reactivation fee of USD 6,000 to reactivate it. That fee is not refundable.
Fees
What does it cost to open an account?
USD 6,000, paid only if your application is approved. There is no fee to apply. See fees for everything else.
Do I pay anything if my application is declined?
No. You pay the account opening fee only after your application is approved.
Can I get the account opening fee back?
Yes, if you close your account within 30 days of it becoming active and before any payment has been sent from or received into it. We refund the fee to the account you paid it from, less the bank charges for the transfer. After a payment has been sent or received, or after 30 days, the fee is not refundable. See fees for the full conditions.
Are there monthly fees?
No. There are no monthly, annual or closure fees. Reactivating a dormant account costs USD 6,000; closing it and having your balance returned is free.
Applying
Who can apply?
Individuals aged 18 or over and businesses of any size, except those connected with sanctioned countries or high-risk jurisdictions. See how to apply.
What documents do I need?
It depends on your country and, for businesses, the type of business. After you apply, we send you a list for your situation.
How long does it take?
The KYC review usually takes 2 to 3 business days once we have all your documents. If you are approved, we open your account straight away, and you can make and receive payments once your opening fee is credited.
Can I ask questions before I apply?
Yes. Email [email protected]. We answer Monday to Friday, 12:00–19:00 Anjouan time (UTC+3).
Your money
Where is my money held?
In accounts in the name of NexusFinX at third-party banks, together with the money of other clients. Your balance is recorded separately in our platform.
Is my money protected by a deposit protection scheme?
No. If NexusFinX or a bank holding client money became insolvent, you might not get all your money back. Read the important information.
Which banks do you use?
We do not publish the names of the banks that hold client money.
Is NexusFinX a bank?
No. We open and operate accounts for our clients and hold client money at third-party banks. We are not regulated or supervised by any central bank or national financial regulator.
Can banks and counterparties see your licence details?
Yes. We provide our licence details and corporate documents to banks, payment counterparties and auditors on request, as part of their due diligence. Email [email protected].
Do you give tax advice?
No. You are responsible for your own tax affairs and reporting.