Business Account Frequently Asked Questions
Below are common customer queries in relation to fire.com and our applications.
Should you require in-depth ‘how-to’ guides, go to our ‘Business Account User Guides’ section below the ‘FAQs’.
Who are Fire and how are they regulated?
Fire and fire.com are trading names for Fire Financial Services Limited. Fire Financial Services (fire-EU) is regulated by the Central Bank of Ireland as a Payment Institution and as such it is authorised to provide specific payments accounts and services. Fire Financial Services (fire-UK) is authorised as an Electronic Money Institution by the Financial Conduct Authority. We are not a bank and we do not provide credit (loans) or overdrafts. Nor do we pay any interest on funds that may be held in a Fire account.
All client funds (i.e. your money) are held in separate, ring fenced accounts in tier one financial institutions. Client funds are never mixed with our own funds, never invested nor used for any operational purpose. No liquidator, receiver, administrator, examiner or creditor of a Payment Institution or Electronic Money Institution, nor the official assignee in bankruptcy has any recourse or right against client funds held in accordance with the above.
As the fire-EU payments licence is an EU based regulation, Fire has passported its licence to other European countries to offer our services across Europe.
Learn more about our founder and the Fire Management team.
If you have any other questions, comments or feedback we would be delighted to hear from you at any time! Reach out to us at info@fire.com.
What is a Fire Business Account and who can apply?
A Fire business account is a digital account with free sign-up. The account is suitable for limited companies, unincorporated entities and sole traders. We offer a Euro and Sterling account as standard and a range of features and services – find out more about the account features here.
Registration is open to businesses incorporated in the United Kingdom or Ireland with directors/owners resident and/or citizens of the EU (and other countries available on request). In addition applications are accepted from sole traders based in the United Kingdom or Ireland.
It is important that you check your suitability to our services prior to completing the online application process. As the account is digital there is no facility to lodge cash and cheques are not supported. Account users must have a mobile device they can use for authentication.
If you’d like to have a discussion about the Fire business account and what we can do for you, we’d love to hear from you! Click here to get in touch.
What’s involved in signing up?
On applying for a business account you will be required to submit information concerning your business, its directors and owners as well as verification documents.
For the business we will require:
- A Certificate of Incorporation; and
- The Memorandum and Articles of Association (UK), or Constitution (Ireland).
For each individual we will require identity and address validation documents.
Once you have filled out the application attaching the required documents, you can submit the application and it will be reviewed by our team. This review process is normally completed within a day or two. We will notify you that your account is open, or if we need to revert to you for additional information.
Email us at any time at support@fire.com to check on the status of your application.
How does Fire keep my money safe?
As an Electronic Money Institution in the UK and a Payment Institution in Ireland, we are required to “safeguard” customer funds.
We place your money in a designated safeguarding account with a regulated financial institution. This account holds only Fire customers’ funds and Fire ensures this money is never used for operational or lending purposes.
In the unlikely event that Fire ceases trading, the safeguarding account is protected from other creditors making a claim against Fire. In this scenario, you would get the majority of your money back, except for costs deducted by the insolvency practitioner for distributing the money to you. This will only be deducted from customer balances if there are no funds available from Fire itself.
As the account you hold with us is not a bank account, your money is not covered by the Financial Services Compensation Scheme in the UK/Deposit Guarantee Scheme in Ireland.
You can read more here:
What happens to my personal data?
Protecting your personal data is very important to us. We take appropriate measures to ensure confidentiality of all personal data, both paper and electronic, required for the operation of our business. We take appropriate steps to protect data stored or transmitted against accidental or unlawful destruction, accidental loss or alteration, and unauthorised or unlawful storage, processing, access or disclosure.
We are committed to and comply with all relevant Data Protection and Privacy legislation and/or regulations of the jurisdictions within which we operate. We will ensure that your personal data can be used only by authorised personnel for legally authorised purposes. We will only use personal data in our possession for its intended specific and authorised purpose.
Your personal data may be transferred to contracted third parties, e.g. banks and other firms external to us for the purposes of providing our services to you. In these circumstances Fire will oblige contracted third parties to ensure that your personal data is securely managed and protected at all times. These third parties will only process and use your personal data in line with fire.com specific instructions.
We or our contracted third parties may share your personal information with authorities within Ireland, the United Kingdom and abroad to prevent money laundering, terrorism and fraud in order to meet legal obligations.
How long will you keep my personal data for?
Your personal data will be retained and maintained in accordance with applicable Data Protection and Privacy laws and regulations which oblige Fire to hold its customer data for up to six years after the last transaction or end of business relationship whichever comes first.
Can I use my Fire account for crypto currency activity?
No, a Fire account can’t be used for any crypto currency related activity. Funds received from a crypto currency activity destined for your account will be returned.
Is it possible to receive international/SWIFT payments?
A Fire Account can receive SEPA (Euro) payments from a eurozone account or Faster Payment/Bacs (Sterling) from a UK-based account. It’s not possible to receive a payment via SWIFT. Any attempted SWIFT payment will fail and be returned.
Do you work with accounting software?
We have OFX formatted statements that are compatible with Xero, Sage One, QuickBooks, FreeAgent, Zoho Books etc.
You can download these by following these guidelines:
- Sign in to your Fire Business Account.
- In the ‘Fire Accounts’ section, click on the relevant account, then the ‘Actions’ button.
- A drop-down menu will be displayed; select the ‘Download Statement’ option from the list.
- Select the relevant year, month and select the relevant OFX format, then click the ‘Download’ button.
I am filling out the Business Account Application, but have forgotten my Password?
In order to reset your password, you must verify both of your email address and mobile number.
- Firstly, you must fill out the ‘Authorised User’ section, which provides us with your mobile number.
- Then, you must have verified your email address – through a link sent to your email.
- Finally, you must have verified your mobile number – through an SMS verification code sent to your mobile number.
If you have not reached this stage of your application, but you have forgotten your password, then please contact support@fire.com so we can create a new Business Account Application for you.
What is my ‘Fire Business ID’?
Your Fire Business ID is a very important credential used every time you or any Fire business user logs into ‘firework online’. Please ensure to use something memorable.
Upon your account being set live, we send an email in which there is a reminder of your Fire Business ID provided.
- Letters, numbers and dots are accepted characters when setting your Fire Business ID.
- The Business ID is for your use only, it will not be visible to customers.
Can you clarify the "Does your business operate outside the EU? If so please list these countries" question?
This relates to whether your business trades outside of Europe, not whether your company has a physical office outside of Europe.
What are the criteria for a valid Photo ID?
Photo ID must:
- Display your name,
- Display a clear photo,
- The document must be in colour (photo itself can be black and white),
- Display your date of birth,
- Be active and in date (not expired).
Examples of a valid Photo ID are:
- Passport,
- Driver’s Licence,
- National ID Card.
What are the criteria for a valid Address Verification Document?
Address Verification must:
- Be dated within the last 6 months,
- Be addressed to you,
- Not be a National ID card or Driving Licence.
Examples of a valid Address Verification Document are:
- Fixed Utility Bill,
- Bank Statement,
- Government Issued Document.
How do I transfer money in and out of my Fire account?
As a Fire business user you can add multiple sterling and euro Fire accounts. A Fire Sterling account (GBP) has a sort code & account number and a Euro account (EUR) has an IBAN associated with it. Anyone (e.g. a customer) who wishes to pay you by bank transfer may use these account numbers to transfer funds from any bank account in the UK or Eurozone. A bank transfer usually takes between a few hours and a day to reach its destination.
Sterling bank transfers are processed via Faster Payments and BACS, while Euro bank transfers are sent via the SEPA Credit Transfer (SCT) scheme.
To transfer funds out of your Fire account (e.g. paying staff or suppliers) via a bank transfer, you must first create a payee in the ‘Payees’ section of the ‘Payments’ tab section of ‘firework online’ and enter their bank account details. You then select the ‘Bank Transfer’ option via the relevant account in the ‘Fire Accounts’ tab to execute an external bank transfer from your Fire account.
You can use your sterling account to pay by Direct Debit on all your fire.com GBP accounts. We are working on enabling Direct Debits for EUR accounts and will inform all customers when they are available.
Euro Bank transfers out are processed each business day at 9:15am and 1:30pm. Sterling bank transfers out are processed at 9:15am and 4:30pm on business days.
Internal transfers between same currency Fire accounts are completed instantly. Internal transfers/FX transfers to another currency account (e.g. transferring from a Fire euro account to a Fire sterling account) are also instant.
How long will it take for funds to appear in My Account?
Lodgements and withdrawals to and from external banks are subject to the standard bank transfer timelines.
Generally, Fire will receive the transfer from external banks within one working day, as long as the request was processed by the bank before 4:30pm. If the transfer was carried out near or after 4.30pm, the transfer could take two days in some cases. No transfers are received, or therefore applied, at weekends, or outside business hours.
Which Account is my Default Account?
Your default account is based on your business’s country of incorporation.
If your business is incorporated in Ireland, your default account is your Euro Account.
If your business is incorporated in The United Kingdom, your default account is your Sterling Account.
What currencies can I send payments in?
You can send funds by bank transfer to 14 currencies from your Fire account. For payments to a Euro or Sterling account please see our Bank Transfers FAQ. International transfers can be made from your Fire account to the following countries and currencies:
- Australia – Australian Dollar
- Canada – Canadian Dollar
- Czechia – Czech Koruna
- Denmark – Danish Krone
- Hong Kong – Hong Kong Dollar
- Hungary – Hungarian Forint
- Norway – Norwegian Krone
- Poland – Polish Zloty
- Romania – Romanian Leu
- Singapore – Singapore Dollar
- Sweden – Swedish Krona
- United States – US Dollar
Please note that payments in these currencies must be made to an account held with a bank in the corresponding country.
What details do I need when adding an International Payee?
The information required when setting up an International Payee will vary from currency to currency. When requesting payee details from the person or business you wish to pay, ensure that they provide you with their local account details and not SWIFT details. Please note for the majority of international currencies you will require the payees address.
Currency | Required Payee Details |
Australia – Australian Dollar | · Payee Name
· Payee Address · Payee City · Payee Country · Payee Postcode · BSB Code · Account Number |
Canada – Canadian Dollar | · Payee Name
· Payee Address · Payee City · Payee Country · Payee Postcode · Bank Code · Branch Code · Account Number |
Czechia – Czech Koruna | · Payee Name
· Payee Address · Payee City · Payee Country · IBAN |
Denmark – Danish Krone | · Payee Name
· Account Number · Bank Code |
Hong Kong – Hong Kong Dollar | · Payee Name
· Payee Address · Payee City · Payee Country · BIC · Account Number · Bank Code |
Hungary – Hungarian Forint | · Payee Name
· Payee Address · Payee City · Payee Country · IBAN |
Norway – Norwegian Krone | · Payee Name
· Payee Address · Payee City · Payee Country · Account Number · Bank Code |
Poland – Polish Zloty | · Payee Name
· Payee Address · Payee City · Payee Country · BIC · IBAN |
Romania – Romanian Leu | · Payee Name
· Payee Address · Payee City · Payee Country · IBAN |
Singapore – Singapore Dollar | · Payee Name
· Payee Address · Payee City · Payee Country · BIC · Account Number |
Sweden – Swedish Krona | · Payee Name
· Payee Address · Payee City · Payee Country · Bank Code · Account Number |
United States – US Dollar | · Payee Name
· Payee Address · Payee City · Payee Country · Payee Postcode · ABA Code · Account Number |
To add a payee, follow the instructions set out in the “Adding a New Payee” user guide
What currencies can I initiate Fire Open Payments for?
You can create Fire Open Payment Requests in both EUR and GBP.
How secure is the service? What if I lose my card or phone?
To access your Fire business account you will need your business ID, email and password. Within the application you will be asked for your access code for certain types of transactions and activities. In addition you must have the ‘firework for business’ mobile application paired with ‘firework online’. We require 2FA (Two-Factor Authentication) for specific transaction types and events.
The application uses security technologies to ensure the privacy of data and the authentication of users. If at any time you have concerns over your account, you must contact us.
Should you misplace one of your debit cards, there is an option within the application to block the card. It is important that you block any cards that are lost. If you cannot find your card, contact support@fire.com and we will cancel it, allowing you to order a replacement.
Should you change/lose your phone, you can unlink your device from your business account via ‘firework online’, so should anyone open the ‘firework for business’ app, they will see a blank screen.
What is 2FA?
Two-factor Authentication (2FA) is an extra level of verification required for certain activities on the Fire Business Account. Think of it as a second way to verify yourself.
Any time Fire ask for “Your Authentication Code / 2FA code”, this code will always be available in the same location – the ‘Security’ tab of the “firework for mobile” app (see below).
Simply input this six digit code into the “Your Authentication Code / 2FA” field and verification will be confirmed.
What is Dual Authorisation? How does it work?
Dual Authorisation is a security feature that allows fire.com business API customers to set up two or more different users to authorise API payments. This is an added security measure that removes the risk of an individual authorising inappropriate or incorrect payments, while making it harder for fraudsters to compromise your business activities.
When a payment is created via the business API, any number of registered users can be set up to authorise the payment(s). The authorisers will receive push notifications to their mobile devices and will be required to authorise the payment in-app. API payment requests without authorisation from the required number of users will be rejected and discarded.
Why am I getting a "Bad Credentials" error message when logging in to my Fire Business Account?
This message means you are entering an incorrect username, email and/or password.
I have forgotten my Password - Can I reset it?
If you have forgotten your password only, and not your access code, follow the guide below.
- Sign in to your Fire Business Account.
- Click on the ‘Reset Password’ text at the bottom of the screen.
- Enter your Business ID and Email and click the ‘Send Validation Email’.
- A validation email will be sent to your email. Open the email and click the “here” text.
- Enter the SMS verification code sent to your phone number, the new password, and the relevant digits associated with your account.
- Click the ‘Reset Password’ button.
- Enter your sign in credentials and new password on the log in screen. Click the ‘Sign In’ button.
- The sign in request screen will be displayed. Approve this via the ‘firework for business’ mobile app to finish signing in.
I have forgotten my Access Code - Can I reset it?
If you have forgotten your access code only, and not your password, follow the guide below.
- Sign in to your Fire Business Account.
- Approve the sign in request using the “firework for business” mobile app.
- Navigate to the ‘Settings’ tab, where you will see the ‘Access Code’ field in the ‘User Profile’ section.
- Click on the ‘Change’ button.
- Follow the on-screen instructions to successfully change your access code.
What should I do - I have forgotten my Access Code but have linked the ‘firework for business’ mobile application?
- You can still enter your sign in credentials for your Fire Business Account.
- The sign in request will be visible; click the “link a different device to your account” text.
- You will be brought back to the sign in screen. Re-enter your sign in credentials and click ‘Sign In’.
- In the ‘User Profile’ tab, you will see the ‘Access Code’ field in the ‘User Profile’ section.
- Click the ‘Change’ button.
- Follow the on-screen instructions in firework online to successfully change your access code.
What should I do - I have forgotten both my Access Code and Password?
If you have forgotten both your access code and password, please contact us at support@fire.com to allow us to reset your details.
- Once confirmation has been received from our Operations Team, you will receive an email titled “Fire for Business – Forgotten Password”.
- Open the email and click the ‘Reset Password’ button.
- Enter the SMS Code sent to your phone number.
- Choose your new password and enter it into the ‘New Password’ fields.
- Once you have submitted this information, a new email titled “Fire for Business – Reset your Access Code” will be sent to your email address.
- Follow the steps outlined in the email to reset your access code. You can see these steps in detail here (link to the ‘Forgotten Access Code’ section).
What access or permissions apply to the different user roles?
An Administrator has full account access and user management access (add users and edit user roles).
A Full User also has full account access, but does not have user management access.
A Read Only User has access to review the account data.
A Card Only User can use their assigned card to create transactions and review transactions associated with their assigned card only.