Opening an account
A complete file is the whole difference
How quickly a decision comes back depends almost entirely on how complete your application is when it goes in. Everything on the checklist, first time, and it moves. A file that has to be chased in pieces takes as long as the slowest piece.
A conversation
Fifteen minutes on what the business does, where the money comes from and where it goes. If we are not the right fit, you will hear that here rather than three weeks later.
The file
You send the documents on the checklist below. This is the part that decides your timeline, and it is the part you control.
Checks and decision
Compliance runs identity, anti-money-laundering and source-of-funds checks, and makes the decision. We keep you posted while it happens.
First payment, together
Once it is live we walk you through the first inward payment and the first conversion personally. After that it is yours to run.
The checklist
What to have ready
Gather all of it before you send anything. Seven items, and the last one matters more than people expect.
- 1
Certificate of incorporation and full company details
Companies House filings, share structure, and the trading name if it differs from the registered one.
- 2
ID and proof of address for every director, and anyone holding 25% or more
Passport or driving licence, plus a utility bill or bank statement from the last three months.
- 3
Proof of the trading address
The place the business actually operates from, not just the registered office. A lease, a rates bill or a utility bill in the company name.
- 4
Recent bank statements
Usually the last three to six months, showing the trade as it runs today.
- 5
Sample invoices — both sides
Invoices from your suppliers and invoices to your customers. They evidence the trade better than anything else in the file.
- 6
Expected monthly volume in and out, and the currencies involved
An honest estimate. Under-stating it causes more problems later than over-stating it.
- 7
A plain-English description of the trade
What you buy, who you buy it from, who you sell to, and how the money moves. This is the part that turns a borderline file into an approval.
Be straight with us
Tell us the awkward part early
A previous account closure, a director who lives overseas, a supplier in a country that raises eyebrows, a month where volume tripled — none of these are automatically a problem. Finding them out halfway through the checks is.
A clear, honest account of the business is what turns a borderline file into an approval. It is the single most useful thing you can write.
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.
Start the conversation
Do not send documents yet. Send the shape of the business and we will tell you what the file needs to contain.
Not sure whether your business fits?
Tell us what the business actually does and how the money moves through it. The pattern matters far more than the label: money in from a spread of customers, currency converted, money out in volume is the shape we are built around, whatever the trade is called.
Talk to us