Brexit proof your finances with a Fire Business Account
December 9, 2020
Trade into the eurozone easily with a Brexit-ready dual-currency business account
The last thing you need when you are trying to run a business is uncertainty about the future of your eurozone payments. Maybe you have been informed by your existing account provider that your euro accounts are being converted to hold accounts only accessible by SWIFT transfer. With Fire’s dual regulation in the EU & UK, you can open an account and use any of Fire’s card or payment services and be assured your access will not change as Brexit becomes a reality.
Fire is authorised as an e-Money Institution by the FCA in the UK and regulated as a Payments Institution by the CBI across the EU. UK and Irish businesses can benefit from a range of payments services and business accounts with individual account numbers & sort codes, or IBANs.
Helping business get paid in Sterling and Euro
1. Open as many Sterling and Euro Accounts as you need
Open Sterling and Euro accounts to manage payments and simplify reconciliation. Create additional accounts in real-time. Use them to segregate funds, simplify reconciliation processes or manage projects and expenses. Pay and get paid by bank transfer to and from any bank account in the UK or Eurozone, and avail of Fire’s instant, low cost FX service to manage the currencies.
2. Order debit cards for all your staff
A Fire debit card is linked to both a Sterling and Euro account, so you automatically pay from your Sterling account when transacting in Sterling and from your Euro account when paying in Euro, avoiding unnecessary bank fees.
3. Automate your payment processes
Use the Fire API to integrate internal business systems or applications directly to your accounts and cards. Automate pay-outs, streamline payments in, instantly reconcile, split funds and more.
4. Accept Open Banking payments
Sell online or via social media with payment links and QR codes. Get paid directly from your customer’s account via Open Banking, without the need to accept cards.
5. Put your business in safe hands
Regulated in the EU and UK and licenced to provide payments services for more than ten years, Fire is a member of numerous payment schemes and networks. We are a team with decades of payment expertise and experience and some of largest financial institutions in the world work with us. Fire is a principal issuer of Mastercard® debit cards and an approved provider of Faster Payments, Bacs, Direct Debits, SEPA and Open Banking. All client funds are segregated, ring fenced and held with tier-one financial institutions, in line with UK and EU legislation.
If you are considering opening a business account, or are concerned about the continuity of services from your current account provider after 1 January 2021, please don’t hesitate to get in touch with our team to discuss your options.
Owen has a degree in Theoretical Physics from Trinity College Dublin, and began his professional career as a freelance IT Solutions contractor. While developing the Ulster Bank corporate website, he met Colm Lyon, and together they founded Realex Payments in 2000. He was responsible for the initial build of the card payments platform, and led the re-architecture and design of the platform in 2010.