Banking Circle
Key Data
- Trading Name: Banking Circle
- Legal Entity: BANKING CIRCLE S.A.
- Activities: B2B Banking Service Provider
- Location: Luxembourg
- Regulations: authorized as a credit institution in Luxembourg
- Key People: Laust Bertelsen (Linkedin)
Banking Circle is a digital business-to-business bank that provides accounts, foreign exchange, and payment services to financial institutions, companies, and marketplaces. It offers global cross-border payments, accounts, and liquidity management through a single platform.
Banking Circles Offering
The platform enables banks, payments businesses, and marketplaces to access global cross-border payments, accounts, and liquidity management delivered seamlessly through a single platform with compliance and security. The platform also provides fast and low-cost cross-border payments, access to a global network of clearing and settlement, and global payments in 24 currencies including local clearing in 11 currencies.
Through Banking Circle, Banks and Payments businesses can access global cross border payments, accounts and liquidity management.
Customer are able to:
- Open IBAN accounts (in their own name) in multiple currencies
- Get customised, low-cost FX solutions
- Access global and local clearing methods (SEPA, CHAPS, SWIFT and many more)
- Open multi-currency accounts for online marketplace sellers in multiple currencies
- Offer merchants fast access to cash without any credit exposure
- Get added value solutions for specific needs (e.g. Virtual IBAN solution in multiple currencies)
Industries
Low to High Risk:
- Financial institutions, Companies, and Marketplaces
Regulation
Banking Circle has been granted an authorisation as a credit institution under article 2 of the Luxembourg law of 5 April 1993 on the Financial Sector and point (1) of Article 4(1) of Regulation (EU) No 575/2013, each as amended with Bank number LUB00000408 and is under the supervision of the Luxembourg Commission for the Financial Sector (www.cssf.lu).
People
Customer review
- Trustpilot: 2,9 Stars with 2 Reviews
Issues
Fintelegram has discovered Banking Circle as the processing payment provider of the highly controversial company ChampLife. A recent investigation by STRG_F and Y-Kollektiv exposes the ChampLife scheme for orchestrating the exploitation of women on platforms like OnlyFans. The coaching program, marketed for success, is unveiled as a tool encouraging male members to manipulate women into producing sexualized content for financial gain.
Conclusion
Banking Circle, meeting all compliance criteria with a solid legal standing and licensing, has been rated ORANGE by our agency.
Despite lacking negative press, the decision is influenced by numerous poor customer reviews and the company’s association with controversial clients. The ORANGE rating reflects concerns about service quality, client satisfaction, and reputational risks associated with specific business relationships.
