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 USD 6,000 opening fee again to reactivate it.
Fees
What does it cost to open an account?
USD 1,500 when you apply, and USD 6,000 if your application is approved. See fees for everything else.
Is the KYC fee refunded if my application is declined?
No. The fee pays for the review, which we carry out whether or not you are approved. Ask us before you apply if you are unsure whether you are eligible.
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 pay?
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We do not publish the names of the banks that hold client money.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.