B2B foreign exchange payments VertoFX Ltd (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. VertoFX is focused on B2B foreign exchange payments. The company offers business IBAN accounts, multi-currency e-wallets, foreign exchange, cross-border payments, payment acceptance, payment API, payment links to freelancers, SMEs, corporates, online merchants. In 2023 VertoFX Ltd had total assets of 3.84 mln GBP.
WorldwideThe trusted way to pay and get paid globally
Cross-border payment infrastructure for enterprises
Cross-border payments for SMEs and startups
Comprehensive multi-currency banking and e-wallet solution
Instant Global Payments with just a link
Treasury management
Automate your entire payments operations to suit your business needs with best-in-class integration support
(*)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, VertoFX Ltd is assigned the overall rating 4.30 (excellent) which is explained in details below.
| Operating Environment | Very Friendly | (4.81) |
| Product Range | Average | (3.05) |
| Market Niche | Broad | (3.43) |
| Company Background | Strong | (3.60) |
| Customer Support | Good | (4.18) |
| Customer Sentiment | Excellent | (4.56) |
| Transparency | Very High | (4.60) |
| Overall Rating | Excellent | (4.30) |
|---|
TheBanks.eu has also identified the following pros and cons of the company:
Collect payments globally with one powerful account
Open a local domestic account in minutes from anywhere
Hold 49 Currencies In Multi-Currency Wallets
Convert up to 49 currencies at bank-beating FX rates
Make fast and secure cross-border payments
Corporate cards for fast-growing global businesses
(*)as stated by the company itself
Business Account is a multi-currency account, allowing the account holder to have funds in the following currencies:
GBP (Pound sterling)
USD (US dollar)
EUR (Euro)
EGP (Egyptian Pound)
ETB (Ethiopian Birr)
GHS (Ghanaian Cedi)
KES (Kenyan Shilling)
NGN (Nigerian Naira)
TND (Tunisian dinar)
TZS (Tanzanian Shilling)
BRL (Brazilian real)
MXN (Mexican peso)
CAD (Canadian dollar)
BDT (Bangladeshi taka)
CNY (Renminbi (Chinese) yuan)
HKD (Hong Kong dollar)
INR (Indian rupee)
LKR (Sri Lankan Rupee)
MYR (Malaysian ringgit)
PKR (Pakistani rupee)
THB (Thai baht)
AUD (Australian dollar)
JPY (Japanese yen)
NZD (New Zealand dollar)
SGD (Singapore dollar)
CZK (Czech koruna)
HRK (Croatian kuna)
HUF (Hungarian forint)
PLN (Polish złoty)
TRY (Turkish lira)
CHF (Swiss franc)
DKK (Danish krone)
NOK (Norwegian krone)
SEK (Swedish krona/kronor)
AED (UAE dirham)
BHD (Bahraini Dinar)
KWD (Kuwatiti Dinar)
QAR (Qatari Riyal)
SAR (Saudi riyal)Payment cards are not offered together with Business Account.
Dedicated IBANs assigned to Business Account belong to the United Kingdom.
Business Account is offered to all countries.
Business Account is offered with a single pricing plan for all customers.
VertoFX is neither registered with the Financial Conduct Authority (FCA) as a crypro asset firm, nor offers any crypto assets services. VertoFX Ltd does not conducts any crypto-related activities.
From January 2020, firms carrying out specific cryptoasset activities in the United Kingdom need to comply with the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs) and to register with the FCA.
VertoFX Ltd is not registered with the FCA as a crypro asset firm.
VertoFX do not offer crypto assets services.
VertoFX do not conduct any crypto-related acitivities.
| GBP | 2022 | 2023 | change (%) |
|---|---|---|---|
| Total Assets | 2,535,463.00 | 3,835,821.00 | +51.29% |
| Rank | Name | Market % | Total Assets |
|---|---|---|---|
| 128 (+17) |  Finseta Payment Solutions Ltd | 0.01 % | 2.70 mln GBP (+122.99%) |
| 129 (+21) | VertoFX Ltd | 0.01 % | 2.54 mln GBP (+143.07%) |
| 130 (-7) |  Nochex Ltd | 0.01 % | 2.52 mln GBP (+13.87%) |
United KingdomVertoFX Ltd is authorized by the Financial Conduct Authority as a e-money institution (reference number 901073) 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), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions, money remittance, payment initiation services; the authorization was granted on 6 August 2020.
VertoFX Ltd 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, VertoFX is required to safeguard its customers’ money.
Since January 2021, VertoFX Ltd can not conduct its activities in EEA member states.
VertoFX Ltd is a SWIFT member.
1 Fore St Ave London Barbican, EC2Y 9DT, London, United Kingdom
+44 2034481718English
United Kingdom
United Kingdom
United Kingdom
United Kingdom
United Kingdom
United Kingdom
