Virtual IBAN

Getting your own personal IBAN (International Bank Account Number) is now fast and hassle-free. Gone are the days of lengthy bank visits and complex paperwork – today you can obtain a personal IBAN entirely online. Whether you’re an individual who needs to receive international payments or a business owner seeking dedicated banking details for your company, modern fintech platforms make it easy. SENDS is one such solution, offering a quick, secure, and cost-effective way to set up an account with your own IBAN and multi-currency support. With SENDS, you can manage global transactions from anywhere, enjoy 24/7 customer support, and pay no monthly fees for your account. In this guide, we’ll cover the payment types you can use, how a personal IBAN facilitates European and international transfers, what is required to open an account, and the simple steps to get started.

Payment Types Supported

SENDS gives you the flexibility to move money through all major payment networks. With your personal IBAN account, you can send and receive funds via a variety of channels, ensuring you’re covered for both local and international transactions:

• SEPA (Single Euro Payments Area): Make euro transfers across Europe quickly and affordably. SEPA credit transfers usually arrive within one business day, and SEPA Instant transfers can even arrive within seconds for immediate euro payments in supported countries.
• SWIFT International Transfers: Send and receive global payments in multiple currencies (EUR, GBP, USD, etc.) through the SWIFT network. SWIFT allows you to transfer funds worldwide – these transfers typically clear in 1–3 business days, reaching virtually any bank around the globe.
• UK Faster Payments: Enjoy near-instant domestic GBP transfers within the UK. Faster Payments are processed 24/7, often with the money arriving in the recipient’s account within minutes, which is perfect for everyday business or personal transactions that need speed.
• CHAPS: For high-value GBP transactions that need guaranteed same-day delivery, CHAPS is supported. This UK Clearing House Automated Payment System ensures that large sterling payments (commonly used for things like property purchases or corporate transactions) settle on the same working day, with no amount limits.

In addition to the above, SENDS also supports free internal transfers between accounts on the platform – if you need to send money to another SENDS user, it happens instantly at no cost. You can even utilize card payout services, which let you transfer funds directly to a recipient’s Visa or MasterCard (ideal for paying out to cards, often completing within minutes or hours). By supporting all these payment types, your SENDS account ensures you can choose the optimal method for each transfer – whether it’s an instant local payment or a cross-border wire, you have the tools to do it seamlessly.

Your Personal IBAN

One of the biggest advantages of using SENDS is that you receive a personal IBAN dedicated to you or your business. This means your account has a unique international bank account number in your own name (or your company’s name for a business account), rather than using a pooled or shared IBAN. Having a personal IBAN enhances your banking in several ways:

• Professional and Transparent: All payments you send or receive will show your specific IBAN and name, instilling confidence to clients or partners. For businesses, invoices can include a bank account in the company’s name, which looks more professional. For individuals, friends or employers can transfer funds directly to an account identified with your name. There’s no confusion with reference numbers or shared accounts – your funds are held in a segregated account identifiable solely to you.
• Segregated and Secure: Unlike some services that funnel customers into one omnibus account, SENDS provides a segregated IBAN for each account holder. This keeps your money separate and 100% traceable to you at all times. It also simplifies compliance and tracking of transactions, since any payment to your IBAN goes straight to your account without intermediary steps.
• Multi-Currency Convenience: Your personal IBAN with SENDS isn’t limited to just one currency. You can hold and manage multiple currencies under your account. In fact, when your account is approved, you receive local account details for GBP, EUR, and USD – each with its own IBAN or local equivalent. For example, you get a GBP account number with sort code for the UK (tied to a GB IBAN), a euro IBAN for SEPA payments, and a USD IBAN for international dollar transfers. This multi-currency support means you can send and receive payments in the currency that makes sense for you, without forced conversions or extra accounts in different countries. You avoid losing money on unnecessary exchange fees and can easily deal with international clients or suppliers in their local currency.
• Low Fees, No Monthly Charges: With SENDS, you enjoy the benefits of an international banking solution without monthly account fees. Many traditional banks or even fintechs charge a monthly fee (£10–£50 or more) for premium accounts – but SENDS has no ongoing monthly maintenance charge after a modest one-time setup. All pricing is transparent and usage-based, so you only pay small fees when you actually transact. For instance, a domestic UK Faster Payment costs as little as £1 flat, and sending a SEPA payment in euros might cost just 0.5% + €1 – significantly cheaper than typical bank wire fees. Currency exchanges are done at near mid-market rates with no hidden markups, so you always know you’re getting a fair deal. In short, your personal IBAN account comes with transparent, pay-as-you-go pricing that helps you save money.
• No Transaction Limits: Unlike some banking alternatives that impose low caps on basic accounts (for example, certain fintech accounts might limit annual transaction volumes unless you upgrade), SENDS places no fixed limits on transaction volumes or amounts. You can send and receive an unlimited number of payments of any size, subject only to standard regulatory requirements and compliance checks. This freedom means your account can scale with your needs – whether you’re handling a few transfers a month or high-volume international transactions, your personal IBAN remains fully capable without forcing you into higher-cost plans.

Personal IBAN for European and International Payments

An IBAN is designed to facilitate both European and worldwide transfers, and with SENDS you truly get the best of both worlds. In Europe, using your personal IBAN makes cross-border payments as straightforward as domestic ones. IBANs are the standard across the EU/EEA for identifying bank accounts, so when you provide your IBAN to a European client or partner, they can easily send you a SEPA payment as if they were sending money to a local account. For example, a client in Germany or France can pay your IBAN and the euros will arrive in your SENDS account usually by the next day – no special steps needed.

For international payments beyond Europe, your IBAN (combined with the SWIFT/BIC code of the institution) allows banks worldwide to route funds to your account. This means you can receive wires from outside of Europe, such as USD payments via SWIFT from the United States or other regions, directly into your SENDS account. Likewise, you can send money overseas using your IBAN as the source account. The IBAN’s standardized format includes country and bank identifiers, so it ensures that payments find the right destination across borders. In practical terms, having a personal IBAN empowers you to transact globally without needing multiple bank accounts in different countries.

Moreover, SENDS provides you with local account details where available to make things even easier. Your EUR IBAN is a European IBAN suitable for SEPA transfers, and your GBP account comes with a UK sort code and account number (making your IBAN function like a local UK bank account for anyone paying you in GBP). By having localized IBANs, you can avoid international transfer fees when possible: e.g. EU customers can pay you via a domestic SEPA transfer, and UK customers can pay via domestic Faster Payments. In summary, your personal IBAN from SENDS acts as a gateway to both European SEPA payments and international SWIFT transfers, simplifying the way you move money across borders.

What Are the Requirements for Opening an Account?

One of the common questions is, “Am I eligible to open an account and get a personal IBAN?” SENDS welcomes a broad range of clients, but there are a few requirements and regional restrictions to keep in mind. Supported countries include the UK, Gibraltar, EU countries, and certain other European jurisdictions. You do not need to be a UK citizen or resident to sign up – as long as you (or your business) are based in an eligible country and can satisfy the Know-Your-Customer (KYC) checks, you can apply for an account. Both businesses (legal entities) and individuals can open accounts with SENDS. Below is an overview of what’s generally required for each:

For a Legal Entity (Business)

If you’re opening a business account (for a company, such as a limited company or partnership), you will need to provide documentation and information about the company and its owners. The exact requirements can vary slightly depending on your jurisdiction, but typically, you should prepare the following:

• Company registration details: Official documents that prove your business is registered. This could be a Certificate of Incorporation, a registry extract from your country’s company registry, or similar documents. These should show the company’s legal name, registration number, and registered address.
• Company address proof: A document verifying the business’s registered address (and trading address, if different). This might be a recent utility bill, a bank statement, or a government-issued document listing the company address.
• Ownership and management information: Details about the directors, significant shareholders, and ultimate beneficial owners (UBOs) of the company. You may need to declare the ownership structure and provide IDs for anyone who owns a large portion of the company (for example, anyone with 25% or more ownership).
• Personal identification for directors/owners: A valid government-issued ID (passport or national ID card) for the directors and key shareholders will be required. This is to verify the identities of the people behind the company. Often, this is done for anyone who will be an account signatory or who meets the ownership threshold for UBOs.
• KYC and compliance information: You’ll fill out an application form detailing the nature of your business (what products/services you offer, expected account activity, etc.). Some industries that are high-risk or prohibited (for example, illegal services, online gambling, etc.) might not be accepted, so providing an accurate business description is important. In many cases, a quick video verification or a selfie of the director may be required as part of the KYC process – this can usually be done via your computer or phone camera in a few minutes.

SENDS’s onboarding team will review these documents. The good news is that this whole process is online – you simply upload scans or photos of the docs on the secure platform. There’s no need to mail papers or visit an agent. As long as everything is clear and meets the requirements, your business account can be approved very quickly (often within 1–2 days).

For an Individual

If you’re opening a personal account (for yourself as an individual, including freelancers or sole traders), the requirements are simpler. You’ll generally need to provide:

• Personal information: Basic details like your full name, date of birth, contact info (email, phone), and current residential address.
• Proof of identity: A clear, valid photo ID such as your passport or national ID card. In some cases a driver’s license (if it’s government-issued and has your photo) can work, but a passport is the gold standard for international verification. You’ll upload a scan or photo of this ID.
• Proof of address: A document that shows your name and address, to confirm where you live. Common examples include a utility bill, a bank or credit card statement, or an official letter, usually dated within the last 3 months. Ensure the document clearly displays your name, address, and a date or issuing entity.
• Verification selfie/video: To protect against identity fraud, you’ll be asked to complete a quick liveness check. Typically, this means taking a selfie while holding your ID, or recording a very short video through the app or webcam where you follow a couple of prompts (like saying a few words or turning your head). This step only takes a minute and is used to match your face to the ID and ensure it’s really you applying.

Aside from documents, the main requirement is that you are from a supported country (currently within UK/EU/Gibraltar region) and above the minimum age (usually 18 years old). You don’t need a UK address if you’re signing up from another eligible country – for example, a user in an EU country can open a SENDS account with their local address. Once you have these few things ready, the application for a personal account is straightforward and guided by the platform step by step.

Note: If you have any doubt about whether your business or you as an individual qualify, you can contact SENDS support for clarification. But generally, as long as you’re based in Europe (UK/EU) and your business is in a standard industry, you should have no issue opening an account and getting your personal IBAN.

Steps to Get Started

Opening your SENDS account and obtaining your personal IBAN is a quick process. Here are the simple steps to get started:

1. 1. Create Your Account

   Begin by signing up on the SENDS website (or mobile app). The registration process will ask you whether you want a personal or business account. Provide a few basic details to create your profile – this usually includes your name, email address, and a secure password. You’ll also need to verify your contact information: for example, confirm your email and phone number via verification codes sent to each. This step establishes your login credentials and secures your account. Once confirmed, you’ll have access to the onboarding portal to continue your application.

2. 2. Verify Your Identity and Account Details

   Next, follow the on-screen instructions to verify your identity (and your business, if applicable). This is where you upload the documents mentioned earlier. The interface will let you upload your ID, proof of address, and any company documents required. The system is user-friendly – you can typically just take a clear photo with your smartphone or webcam and upload it directly. You’ll also complete the short video or selfie verification at this stage to confirm that you are the person on the ID. Don’t worry, the platform guides you through each step (for instance, it may prompt you to allow camera access and then ask you to center your face for a photo). All data is encrypted and handled securely as part of SENDS’s compliance with financial regulations. Once you’ve submitted all the necessary information and documents, submit your application for review.

3. 3. 24-Hour Review – Fast Approval

   After everything is submitted, SENDS’s compliance team will review your application. In most cases you can expect a very quick turnaround. Within about 24 hours, you should receive a response (via email notification or in-app alert) on the status of your account. Many accounts are approved even faster – often by the next business day – especially if all your documents were clear and complete. (Occasionally, it might take up to 48 hours if there’s high demand or if the team needs any extra information from you.) The key point is that opening an account with SENDS is much faster than with a traditional bank, which might take weeks to get a business account running. Here, our goal is to get you up and running as soon as possible. During this short waiting period, the team may reach out if any clarification is needed (for example, if a document was blurry, they might ask for a better photo). So keep an eye on your email just in case. Assuming all is in order, your account will be approved and activated usually in under 1 day – no long queues or interviews required.

4. 4. Get Your Account – Start Using Your Personal IBAN

   Once approved, congratulations! You now have access to your SENDS account. You can log in to your online banking dashboard (web or app) and you’ll find your new personal IBAN details ready to use. Typically, you will see account details for GBP, EUR, and USD (each currency has its own IBAN or local account number). At this point, you can deposit funds into your account and start sending or receiving payments right away. For example, you might initiate a test by transferring a small amount from your other bank to your new IBAN, just to see how quickly it arrives – with Faster Payments or SEPA Instant it could be just minutes! You can also start giving out your IBAN to clients, customers, or partners to receive payments from them. The online dashboard will allow you to send payments worldwide, convert currency if needed, download statements, and more. All features of the account are at your fingertips, available 24/7. There’s nothing else you need to do – no activation fees to pay (aside from the one-time setup if applicable) and no branches to visit. You’re now banking globally from the comfort of your home or office. If you have any questions as you begin, remember that SENDS’s support is available around the clock to assist. But otherwise, you’re all set to enjoy the freedom of your personal IBAN account. Get your account now and experience how easy international banking can be!

Frequently Asked Questions

What is an IBAN?

IBAN stands for International Bank Account Number. It’s a standardized alphanumeric code used to identify bank accounts across national borders. An IBAN is essentially your bank account’s international address – it includes a two-letter country code, two check digits, and then your domestic account number and branch identifier in a single string. Banks and payment systems use IBANs to ensure that international transfers are routed to the correct account. In simple terms, an IBAN uniquely identifies your bank account worldwide. If you open a SENDS account, you will receive personal IBANs in your name for each supported currency (GBP, EUR, USD). For example, a UK IBAN might start with “GB” for Great Britain, followed by other digits, whereas a Euro IBAN for your account might start with “LT” (if it’s issued in Lithuania, as many fintech EUR accounts are). These IBANs link back to your one SENDS account. Whenever someone wants to send you money internationally, you’ll provide them the IBAN (and a BIC/SWIFT code if needed), and that’s all they need to ensure the funds reach your account. Bottom line: IBANs are crucial for cross-border banking, and having your own IBAN means your account is recognized in the international payments network.

How to get the IBAN?

Every step to get your personal IBAN is completed online through SENDS’s platform. First, you’ll need to open an account with SENDS (personal or business, depending on your needs) by filling out the online application – as outlined in the steps above. This involves providing your details and uploading the required documents for verification. Once you submit your application, the compliance team will review it (usually within 24-48 hours). After approval, your account is activated and you are issued your personal IBAN(s) automatically. In fact, you’ll typically get multiple IBANs: one for EUR, one for GBP, and one for USD, all without any extra applications. In summary: apply online, pass the verification, and within a day or two you’ll have your IBAN. There’s no need to visit a bank or fill out paper forms – it’s a quick digital process. As soon as your account is live, you can find your IBAN displayed in your online banking dashboard and start using it to send or receive money worldwide.

How long does an IBAN transfer take?

The transfer speed when using an IBAN depends on the payment network or type of transfer you’re making, rather than the IBAN itself. Here are typical timeframes for transfers from your SENDS personal IBAN account:

• UK Faster Payments (GBP within UK): Usually a few seconds to a few minutes. These transfers are near-instant and are processed 24/7, even on weekends. If you send a payment to a UK bank on Saturday at 10 pm, it should still clear within minutes using Faster Payments.
• SEPA Credit Transfer (EUR within EU/EEA): Typically same-day or next-business-day delivery. Standard SEPA transfers often arrive the next working day if sent late in the day, but if you send in the morning or early afternoon on a business day, the beneficiary may get the funds by end of day. Many SEPA transfers arrive within 24 hours. (With SEPA Instant, if both banks support it, euros can arrive within seconds, similar to Faster Payments.)
• SWIFT International Transfer (cross-border, non-EUR/GBP): 1 to 5 business days is the norm. SWIFT is the network used for worldwide interbank transfers, for example sending USD to the USA or receiving funds from Asia. Some SWIFT payments clear in 1-2 days, but others, especially if intermediary banks are involved, can take up to 3-5 days. It also depends on time zones and cutoff times. SENDS processes your outgoing SWIFT transfer right away, but the delivery to the final recipient can vary based on the banks in between.
• Card Payouts: If you use the SENDS card payout feature (to send money to someone’s Visa/Mastercard), those typically arrive within minutes to a few hours (often almost instantly, depending on the recipient’s card issuer). At most it might take until the next day if the network is busy, but it’s much quicker than traditional bank wires.
• Internal transfers (SENDS to SENDS): These are instantaneous. If you have another account holder’s details (or you’re transferring between your own sub-accounts), the transfer happens in real time.

So in practical terms, an “IBAN transfer” within Europe is very fast (minutes to a day), while a global SWIFT transfer may take a couple of days. Regardless, using your personal IBAN through SENDS means you’re using modern, fast payment rails whenever possible to get your money moving quickly.

Which currencies are available?

Currently, SENDS offers accounts in three major currencies: GBP, EUR, and USD. When you open your account, you will be able to hold and transact in British Pounds, Euros, and US Dollars, each with its own dedicated IBAN or local account details. This covers the most commonly used currencies for international business and personal finance. For example, you can invoice European clients in euros and have them pay your EUR IBAN, while simultaneously paying suppliers in the UK from your GBP balance – all under one SENDS account. The platform makes it easy to manage these currencies side by side, and you can exchange between them at competitive rates if needed (e.g. convert EUR to GBP within the account).

SENDS is also working hard to add new currencies in the future. As the service expands, you can expect more currency options to become available, which will further enhance the flexibility of your personal IBAN account. Popular currencies on the roadmap may include ones like AUD, CAD, or others – but for now, the big three (USD, EUR, GBP) have you covered for the vast majority of international transactions. If you have a specific currency need, you can reach out to the support team for the latest updates on availability.

Ready to take control of your global finances with a personal IBAN? With SENDS, you can open an account online in as fast as 24 hours, get unique IBANs in your name, and start sending or receiving money worldwide – all with no monthly fees and full confidence in a platform authorized by the UK Financial Conduct Authority. Get your personal IBAN account today and experience banking without borders, designed for the modern world of international payments.