FAQ

Your questions answered

Onboarding & Compliance

What kind of KYC is required for onboarding?

Incorporation documents, Ownership/Management information, IDs and Proof of residence, Evidence of Nature of Business, Purpose of account, Source of funds, Regulatory evidence.

If we onboard a sub-account, would they also need separate KYC?

Yes, we will need to do a full KYC on sub-accounts as well.

What are your prohibited jurisdictions?

Cuba, Iran, North Korea, Russia, Sudan, Ukraine.

Do you have restrictions on certain industries or business models?

Any form of illegal / unlawful activity, money laundering, terrorist financing, human trafficking, political corruption, and illegal wildlife trafficking; Wholesale cash distribution, domestic and international banknote, and coins services; Informal Value Transfer System; Shell banks; Private bank clients; Direct C2B transactions.

API & Technology

Do you have an API?

Yes, we have API connections with our main banking providers and Public API for clients.

How do your multi-currency IBANs work? Are they virtual or real?

They are virtual and include up to 15 currencies depending on the flow of funds.

How quickly can we get set up with an IBAN account?

3-4 weeks for lower-risk industries, 4-6 weeks for higher-risk industries.

Products & Services

What payment rails do you support?

SWIFT, SEPA, Target 2, BACS, ACH, Faster Payments, CHAPS, PayID.

Can you facilitate same-day or instant payments?

Yes.

What exotic currencies are available?

We work globally and have access to do 30+ currencies around the world including in Latin America, Africa, and Asia Pacific.

Can you do card acquiring?

We have several partners that we can refer to for card acquiring. Funds that are collected from individuals via our partners will be settled to a JNFX account for 1st party or 3rd party payments.

Can you provide a pooled account?

Yes, we can provide pooled accounts that support 3rd party payments, both incoming and outgoing.

Can you provide a safeguarding account?

We are required by FCA regulation to safeguard client funds, however our we cannot provide individual safeguarding accounts to our clients.

Will JNFX have any communication with the sub-client?

You can decide whether you want to manage communication with your client regarding their sub-account directly, or defer to JNFX.

Pricing & Fees

What is the pricing structure based on?

Volumes, flow of funds, industries and jurisdictions.

Is there a minimum monthly volume or fee commitment?

Yes. Monthly minimum fees can be covered by all other fees and charges, and are reflective of intended monthly volume through your JNFX account.

Risk & Partnerships

What is your risk appetite?

We look at most legal industries on a case by case basis.

Support & Account Management

Will we have a dedicated account manager?

Yes, account managers will you be your main point of communication.

What are your support hours for payments?

8:30AM-5PM GMT.

Contact Us

Get in touch to find out how JNFX can help you or your business.

Email

info-jn-fx.com

Phone

+ 44(0) 207 496 3350

Address

75 King William Street,
London, EC4N 7BE

JNFX Limited, registered in England and Wales. Company Number: 06365196.
Office: 75 King William Street, London, EC4N 7BE, United Kingdom.

JNFX (UK) Ltd is authorised and regulated by the Financial Conduct Authority (FRN574489) and by HMRC (XSML00000169425).

Quick Links

Contacts

partnership

JNFX offers a variety of partnerships models so you can find the best fit for your business. Contact us for more information.