ClearBank
UK clearing bank with a Dutch EU subsidiary, offering real deposit accounts, virtual IBANs and direct payment scheme access through one API
Quick Overview
| Company | ClearBank Limited and ClearBank Europe N.V. |
|---|---|
| Category | Banking as a Service (BaaS) Providers |
| Headquarters | London and Amsterdam, United Kingdom |
| Founded | Not stated |
| EU Presence | Yes - United Kingdom (PRA and FCA) and Netherlands (EU, ECB and DNB) |
| Data Location | Not stated on the pages read |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | No |
| Main Features | Real deposit accounts, virtual IBANs, Faster Payments, Bacs, CHAPS, SEPA, SEPA Instant, T2, multi-currency accounts, real-time FX, savings and ISA accounts, API |
| Pricing | Pricing on request |
| Best For | Fintechs, banks and pre-regulated firms needing UK and EU clearing in one place |
| Replaces | Unit, Treasury Prime, Column |
Detailed Review
ClearBank Limited is registered in England and Wales (09736376) and authorised by the PRA, with the FCA and PRA as regulators. Its EU arm, ClearBank Europe N.V., sits at Stadhouderskade 85 in Amsterdam under the Chamber of Commerce number 89463366 and is supervised by the ECB and De Nederlandsche Bank.
The company groups its offer into three models: agency banking, embedded banking and transaction banking, and it names banks, building societies, acquirers, digital asset platforms and pre-regulated firms among its users.
Deposit accounts rather than wallets
ClearBank repeats on its accounts page that its accounts are genuine deposit accounts settled at the Bank of England and the European Central Bank, not e-money. For end customers that brings FSCS cover up to £120,000 per depositor in the UK and national schemes up to €100,000 in Europe, which the page applies to eligible deposits only.
A single parent account can carry up to 6 million virtual IBANs, so a platform can give every customer an identifier without opening a physical account each time.
Six schemes behind one integration
The payments page lists Faster Payments, Bacs, CHAPS, SEPA, SEPA Instant and T2, with settlement at the two central banks. The site claims an active-active platform with no scheduled downtime and 99.9 percent straight-through processing, which are the vendor's own figures.
Because the bank is a direct scheme member, a client does not need to become a participant or buy access through a sponsor.
Currencies and FX
One IBAN can hold 11 currencies alongside GBP. FX runs through streaming quotes (RFS) or held-rate quotes (RFQ) valid for up to 45 seconds, across 64 listed currency pairs, with Nostro accounts managed by ClearBank.
Limitations to Consider
No pricing is shown on any page read, so budgeting starts with a sales call. The embedded banking examples lean to UK retail products such as current accounts, savings accounts and a Flexible Cash ISA, which has little use for a European B2B programme. Card issuing does not appear in its product list, so a cards programme needs Wallester or Treezor beside it.
Who Should Use ClearBank
Banks, payment firms and fintechs that need direct sterling and euro clearing with deposit protection, and that can handle a sales-led contract.
Pros and Cons
Pros
- Direct access to Faster Payments, Bacs, CHAPS and SEPA Instant
- Deposit accounts with FSCS and DGS protection
- UK bank plus Dutch EU bank in one group
- Up to 6 million virtual IBANs per parent account
- 11 currencies on one IBAN
Cons
- No public pricing
- No card product in the list
- Embedded examples built around UK retail
- Sales-led onboarding
Alternatives to ClearBank
Other European banking as a service (baas) providers worth comparing before you decide:
Griffin
United Kingdom · London bank with its own core system and a public platform price
Swan
France · Paris e-money institution selling business accounts and cards to software
Wallester
Estonia · Tallinn Visa principal member issuing cards and IBAN accounts under your brand
Paynovate
Belgium · Brussels e-money issuer combining IBAN programmes, card issuing and acquiring
See all European banking as a service (baas) providers or compare them directly against Unit on our alternatives page.
Frequently Asked Questions
ClearBank Europe N.V., registered in Amsterdam under number 89463366, is authorised by the European Central Bank and regulated by De Nederlandsche Bank. ClearBank Limited in London serves the UK side.
No. The accounts page says they are genuine deposit accounts settled at the central banks, with FSCS protection up to £120,000 in the UK and national deposit guarantee up to €100,000 in Europe for eligible deposits.
Cards do not appear among its products on the pages read. Its list covers accounts, payments, multi-currency and FX, and digital assets.