Monetley

FCA-regulated IBAN and SEPA service provider

Key Data

  • Trading Names: Monetley
  • Legal Entity: Monetley
  • Activities: e-Money Institution (IBAN/SEPA)
  • Location: United Kingdom
  • Regulation: UK FCA
  • Key People: Dimitrijs Lapkovskis (LinkedIn)

Monetley is the trading name of the FCA-regulated e-Money Institution Monetley Ltd. The company is controlled by the Latvian-born British Dimitrija Lapkovskis.

Monetley works for payment infrastructure and banking-as-a-service (Baas) provider Mercuryo (PR42 profile), among others, and operates IBAN and SEPA services for its customers.

The Offering

Monetley offers IBAN accounts for individuals and merchants.

For individuals from the UK and EU, onboarding and opening an IBAN account is free of charge. There are also no monthly fees.

Merchants pay an opening fee of €400 in the low-risk area and €750 in the high-risk area for onboarding. The opening of an IBAN account costs an additional €400 and €750. The monthly fees are €100 and €200 respectively.

Different fixed fees are payable for incoming and outgoing SEPA payments. In addition, there is also an inactivity fee and other additional costs that are not negligible.

The pricing details can be found the Monetley website here.

The Conclusion

The company has FCA regulation and provides comprehensive information on the website. We have also not seen any serious complaints and therefore include Monetley in our “Green Compliance” list.

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Jurisdiction

United Kingdom

Legal Entities

Monetley LTD

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