IBAN accounts and money remittance Rewire by Remitly is an online financial platform provides an affordable, secure, and fast way for people to send money internationally. Rewire is focused on international workers and unbanked immigrants to help them saving, spending, and sending money across the world. Rewire EU offers personal IBAN accounts, debit cards, and international money transfers. Rewire EU B.V. (Netherlands) is an electronic money institution authorized and regulated by the De Nederlandsche Bank. Rewire EU B.V. is also registered with the Financial Conduct Authority (United Kingdon) as an EMD agent of PayrNet Limited (FRN: 900594).
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(*)as stated by the company itself
13 August 2024, by Anna Mileiko
TheBanks.eu has developed a proprietary methodology to assign ratings to payment institutions based on their operating environment, company background, business model, market niche, product range, transparency, customer support and customer sentiment. According to the methodology, Rewire EU B.V. is assigned the overall rating 3.56 (good) which is explained in details below.
| Operating Environment | Friendly | (4.06) |
| Product Range | Average | (3.05) |
| Market Niche | Narrow | (1.92) |
| Company Background | Average | (2.66) |
| Customer Support | Good | (4.18) |
| Customer Sentiment | Excellent | (4.25) |
| Transparency | Average | (3.39) |
| Overall Rating | Good | (3.56) |
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TheBanks.eu has also identified the following pros and cons of the company:
Personal Account is a single-currency account, allowing the account holder to have funds in EUR only.
EUR (Euro)A payment card can be ordered together with Personal Account. Virtual cards are not available.
Personal Account is offered to all countries.
Personal Account is offered with a single pricing plan for all customers.
Rewire EU do not conduct operations with cryptocurrencies.
Netherlands
Rewire EU B.V. is authorized by the De Nederlandsche Bank as a e-money institution (reference number R161025) for issuance of electronic money, distribution and redemption of electronic money, placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), issuing payment instruments or acquiring payment transactions, money remittance; the authorization was granted on 17 December 2020.
Rewire EU B.V. is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, Rewire EU is required to safeguard its customers’ money.
Due to EEA passport rules Rewire EU B.V., can conduct its activities in any of the 30 EEA member states.
Rewire EU B.V. is connected to Visa payment card scheme.
Nieuwezijds Voorburgwal 296, 1012RT, AMSTERDAM, Netherlands
EnglishDutchRewire EU has profiles on the following social networks:
United Kingdom
Netherlands
Iceland
Switzerland
Cyprus
DenmarkNo. Rewire EU B.V. is not a bank, but an electronic money institution authorized and supervised by the De Nederlandsche Bank (ref number: R161025).
Rewire EU is required by law to keep its own funds separated from its customers' money. In case if the company becomes insolvent, the customers' money will be unaffected and will be refunded to clients.
Yes, Rewire EU is a EMD agent of PayrNet Limited (FRN: 900594), an British e-money institution, and hence can serve UK customers.
Yes, Rewire offers accounts with dedicated IBANs, which are instantly available upon account opening.
