About OvaroPay
Payments for the businesses the high street stopped serving
There is a large, profitable part of British trade that mainstream banks have quietly withdrawn from. Not fraudsters — importers, wholesalers and distributors turning over millions, declined at onboarding or offboarded a year later because a whole category was judged too much work.
We exist for those businesses. The trade-off is an honest one: proper due diligence at the start, in exchange for an account that holds up afterwards. That is the whole proposition.
How this works
Two firms, and you should know which is which
OvaroPay introduces you. A separate, FCA-authorised firm provides the regulated payment services and holds the permissions. We would rather set that out on this page than bury it, because it is the first thing a business that has been offboarded before will want to establish.
What OvaroPay does
- Finds the businesses the high street will not serve properly, and understands the trade.
- Prices the account against what you are paying today.
- Prepares the application with you, so the file goes in complete first time.
- Runs the day-to-day relationship, and answers the phone.
What the regulated firm does
- Holds the FCA authorisation under the Payment Services Regulations.
- Runs KYB, anti-money-laundering and source-of-funds checks, and decides on every application.
- Provides the accounts, the currency conversion and the payout network.
- Provides the platform you log into, and monitors accounts on an ongoing basis.
OvaroPay is acting as an introducer to CoBanq Ltd, who is providing the regulated payment services and is authorised and regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (firm reference number 508565). OvaroPay is not a bank and does not hold deposits. Every application is subject to full identity, anti-money-laundering and source-of-funds checks, and an account is opened only once those checks are satisfied. Nothing on this site is an offer of an account or a guarantee of approval.
How we work
Three things we will not do
We never promise you an account
The decision comes after the checks, and it is not ours to make. Anyone promising approval before that is selling you something they cannot deliver.
We do not hide the price in the rate
You are quoted a fee and a margin before you commit. If you would rather compare against what you pay now, bring one real transaction and we will price that one.
We turn down what cannot be banked
If your trade is outside appetite you will hear it at the first conversation. Wasting three weeks of your time to find out is not a service.
Come and tell us about the business
We would rather have a fifteen-minute conversation about what you actually import than send you a brochure.
Get in touch