🇬🇧Equals Money: British account for Americans and companies with significant FX demand

Partner, Corporate & Commercial

Concept

Equals Group plc — a UK-listed fintech on AIM London Stock Exchange (tickerEQLS). Combines several licensed brands: Equals Money for business, FairFX for personal cards, Roqqett for open banking. UK company registration number 08922461, regulated by FCA and HMRC.

Equals is one of the fewneobankswith direct access to real-time settlement at Bank of England and membership in UK Faster Payments Scheme. Extensive network of correspondent traditional banks for all major currencies and access to FX derivatives make Equals a tool for clients with genuine FX demand, not just simple payment processing.

Licenses and group structure

Equals Group operates through several legal entities with separate licenses:

• Equals Money PLC— FCA payment services authorization, FRN488396. Primary firm for settlements and cards.
• Equals Money International Limited— FCA EMI under Electronic Money Regulations 2011, reference900493. Issues corporate Mastercard cards.
• Equals Connect Limited— FCA license671508for currency exchange and international payments.
• Roqqett Ltd— FCA license925174for Payment Initiation Services and Account Information Services under Open Banking.
• Equals Money Europe S.A./NV— Belgian legal entity for EEA operations post-Brexit.
• Partnership with Metropolitan Commercial Bank (MCB)— a US bank, NYSE-listed, gives Equals the ability to serve US clients and issue cards in the United States.

Full list of licenses — onEquals Group plc permissions page.

What Equals does

• Personal accounts in GBP, EUR, USD— with direct access to UK Faster Payments and SEPA. Corporate accounts — in 11+ currencies.
• Foreign exchange— spot at rates close to mid-market, margin0.1%on conversions. For large transactions — FX derivatives (forward contracts for rate hedging up to 12 months, options).
• Mastercard cards— personal issued through FairFX, corporate — through Equals Money International on EU entity.Business cards not issued for Hong Kong.
• Personal dealing manager— each approved client receives a dedicated manager with currency trading experience — in particular, Lawrence Kaplin with 25+ years FX experience, including 10+ years at Goldman Sachs.
• Open Banking (via Roqqett)— payment acceptance via PIS and account aggregation AIS.
• Mobile applicationEquals Money in App Store.

Use cases

Personal account for US client with FX operations

US national purchasing real estate in UK or Spain, receiving dividends in EUR from investments, transferring proceeds from stock sales via broker in USD to GBP. FX operation volumes — £100–250k per year or higher. For this profile Equals is one of the best public options: FX 0.1% above mid-market instead of bank 1–2%, dealing desk with rate explanations, MCB partnership for USD settlements, personal manager. Low associated FX cost pays back the £1,500 onboarding fee on first major transactions.

UK or EU company with international settlements

UK or EEA company with multi-currency turnover, regular conversions and direct settlements in UK Faster Payments or SEPA. Equals provides direct access to Bank of England settlement and UK Faster Payments membership — one of few neobanks where this works directly, without a partner bank. Real estate, dividend payments, investment transfers — classic use cases.

Currency risk hedging via forward contracts

Equals is one of few neobanks with a full-fledged forward product. A company expecting a large incoming USD payment in 6–12 months and wanting to lock in the GBP/EUR conversion rate now can enter into a forward contract. This is a bank-level financial product not available at typical neobanks.

Mandatory client requirements

• Strong file on company or individual.Website and LinkedIn profile with posts (demonstrating actual living business), detailed CVs (genuinely suitable for job applications), existing account at another bank/payment provider with transparent transactions.
• Clear FX operation purpose.Equals directly asks: real estate purchase, dividend payment, investments, relocation, property expenses, intercompany. For client outside UK — understandable role for British payment provider.
• Regular operations.From 20+ transactions per year, typically with conversions. One-off payments do not fit the model.
• Application not from Russia.Equals tracks application geolocation — even with VPN directly from Russia does not work. We submit from UK or EU.

Fees (standard profile)

For high-risk profiles fees increase: monthly fee may be £100–£2,000/month, risk surcharge higher.

Opening viaprivate.law: stages and timeline

1. Package preparation.Collect passport, bank statement from personal account in English showing address for last 3 months, e-mail, phone, TIN in country of residence. For company — incorporation documents, website, LinkedIn profiles of directors, CVs.
2. Precheck with Equals dealing team.Send certified scans to our partner contact (Eva Obersneider), they provide registration form link.1–2 business days.
3. Application submission.Our operator in UK/EU completes Equals web form and uploads documents. Not submitted from Russia.
4. Compliance review.Equals dealing desk reviews profile and sets individual fees.5–10 business days.
5. Approval, invoice and onboarding fee payment.Onboarding fee payment — from account in name for which Equals is being opened (important — not from third-party account).
6. Activation and dealing manager introduction.Client receives welcome letter with personal manager contacts, 2FA via security key.

Total timeline with clean profile — 7–15 business days.Equals longer than Wise and Aspire, but faster than traditional banks.

Russians and Belarusians: strict screening

Equals under FCA regulation conducts strict sanctions screening. Passport not determining factor; actual place of residence and source of funds decide.

Not suitable for

• Small volumes without FX.£1,500 onboarding + monthly maintenance will not pay back without regular conversions. For freelancers and simple operations —Wise.
• Hong Kong companies requiring business cards.Equals does not issue business cards for Hong Kong. SeeAspireorAirwallex.
• Acquiring (accepting cards from customers).Equals is not an acquirer. For own checkout —Airwallex.
• Trade finance, letters of credit, bank guarantees.Banking products, Equals does not have them.
• Crypto operations.Equals does not support.
• Gambling, adult content, weapons.Prohibited.
• Shell companies.Decline.

Q/A

Related materials

• Neobanks: rating and review of payment providers
• Wise Business: local details and international transfers
• Airwallex: multi-currency account for international companies
• Statrys: Hong Kong account for SMEs with custodian at DBS Bank
• Aspire: Singapore business account for SEA startups
• Personal account abroad
• CFC

Contact information

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