What a Fenryx account is, how it opens, and how money reaches it and leaves it. Thirty questions our team is asked most often, answered plainly.
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Fenryx is a payment account provider for businesses. From one online dashboard a company holds balances in several currencies, receives payments through IBAN accounts, exchanges between its own balances and sends SEPA, SWIFT and internal transfers. The balances and the account details sit under one profile, so collecting and paying out are not two separate providers.
No. Fenryx is a payment account provider, not a bank. Services are provided by Globally United Tech Corporation, registered as a Money Services Business (MSB) with FINTRAC in Canada. An account here moves and receives payments; deposit-taking, lending and overdrafts stay with a bank.
Companies that pay and get paid across borders — e-commerce businesses, SaaS companies, trading companies, agencies and exporters. It suits businesses that need more than one currency, a status on every payment and control over who signs off outgoing money. See international business accounts for the wider picture.
No. Accounts are opened for registered legal entities only, and the business has to be able to evidence its registration and what it actually does. Personal accounts are not offered.
Fenryx works with companies registered across a range of jurisdictions. Whether we can serve a particular business depends on where it is registered, what it does and the outcome of verification. Ask our team to check availability for your company before you apply.
Submit an application online and complete the KYB (Know Your Business) review. Once the company is verified, your currency accounts are activated in the dashboard and you can order an IBAN account from there. Nothing has to be signed in person. Whether an account opens depends on the outcome of the review, not on the application itself.
Usually company registration documents, information on ownership and beneficial owners, ID for directors and key shareholders, and a description of the business and its expected payment flows. The exact list depends on your jurisdiction and business profile, and our team confirms what is required before you upload anything.
It depends on the business profile and how complete the documents are. Every application is reviewed individually, and we come back to you if anything else is needed. We do not publish an onboarding time, because the review decides it.
Yes. In line with our AML policy, some business activities and jurisdictions sit outside what we can support. The final decision is made during the KYB review.
A currency account holds your balance in one currency and is funded only from accounts belonging to your own company. An IBAN account carries payment details of its own and is what third parties — clients, platforms, partners — pay into. The two sit side by side under one profile.
No. Third parties cannot send funds to a currency account. To be paid by a client or a partner, open an IBAN account and share those details instead.
Balances are available in major currencies including EUR, USD and GBP, and further currencies can be added from the dashboard where available. Which currencies apply to your account is agreed at onboarding — see multi-currency accounts for how the balances work together.
Yes. You convert between your own balances in the dashboard, and the rate, the fee and the total are shown before you confirm. Nothing about the cost surfaces only on a statement afterwards.
Yes. Additional IBAN accounts can be ordered from the dashboard, and each one takes a label so flows stay separate — by client, region or project. Virtual IBAN accounts cover that pattern in more detail.
SEPA, the SEPA Instant scheme and SWIFT. Which of them applies to your account is confirmed at onboarding.
Send a SEPA or SWIFT transfer from a bank account that belongs to your company. The dashboard shows the payment details for each method, and every field has a copy button so it can be pasted straight into your bank.
The Business ID tells us which account an incoming payment belongs to. Without it in the transfer message we may not be able to match the payment automatically. You will find it in the top section of the dashboard.
No special reference code is required. The payer uses your IBAN details exactly as they would for a regular bank transfer — the IBAN, the BIC or SWIFT code, and the account holder name as registered.
SEPA is used for euro transfers inside the SEPA area. SWIFT is used for international transfers from further afield. The payment details differ between the two, so always copy them from the method you selected in the dashboard.
Yes. An internal top-up moves funds from a currency account to an IBAN account, and an internal withdrawal moves them back. Both run inside your Fenryx dashboard.
SEPA and SWIFT transfers, transfers to another Fenryx user, and movements between your own IBAN accounts. Which options appear depends on whether you are sending from a currency account or an IBAN account. For paying many recipients at once, see mass payouts.
Choose an internal transfer and enter the recipient's Fenryx ID, email or phone number. Between IBAN accounts, use Transfer between bank accounts and pick your own account or another user's.
The beneficiary's full name, address, city, postal code and country, their IBAN or account number, and the bank's BIC, SWIFT or ABA code. You can add a payment reference of up to 140 characters. International payouts covers the outgoing side in full.
Yes. Tick Save beneficiary when you make a transfer and those details are available next time, so a recurring supplier does not have to be re-typed.
Yes. Every transfer form reaches a Summary showing the fee and the total amount spent before you confirm it. Pricing explains how the rate behind it is set.
Pending means the transaction has been created and is queued. Processing means it is being executed. Waiting for approval means it needs sign-off from an authorised user in your company. Finished means it is complete. The Overview page shows how many transactions sit in each status.
Yes. Outgoing payments can be set to need approval from an authorised member of your team, and until that happens the payment stays in Waiting for approval.
Yes. Open any transaction to see its full detail, then download or print it, and add a note where your records need one. Exports keep the reference the payer sent, so reconciliation does not lose the context.
Terms follow your business profile — currencies, payment volumes and corridors — so we prepare an individual quote rather than publish a full schedule. The fee for each transfer is always shown in the dashboard before you confirm. Request a quote to see your own terms in writing.
Through the contact page. Our operations team handles account, payment and technical questions, and a question about a live account reaches someone already looking at it rather than a general queue.