CLIENT ACCOUNTS

Segregate and safeguard the funds held by your business

Serving Payment Institutions, fiduciaries, and collection agencies. We provide the robust and automated banking infrastructure required to segregate and manage client funds.

Client accounts tailored to your industry

Regulatory-compliant client accounts

As a credit institution authorised by the European Central Bank and regulated by the French Prudential Supervision Authority (ACPR), Memo Bank is authorised to open client accounts in accordance with French and European regulations (all our client accounts come with French IBANs):

1. Ring-fenced account

2. Settlement account

3. Specially dedicated account

4. Trust account

5. Meal voucher account

6. Dedicated recovery account

7. Dedicated liquidity account

8. Sub-account (of master account)

Remunerated deposits

Balances on these accounts earn a variable interest rate of 25% of the Euro Short Term Rate (€STR), the daily reference rate calculated by the ECB. Interest is paid out monthly.

Administering client accounts via API

You can manage clients monies accounts through our banking API. You are notified in real time (webhooks) upon the creation of the account, as well as on incoming and outgoing movements.

Bespoke settings on the account

The type of access, role and permission on client accounts are granted by Memo Bank to the relevant individuals or legal entities as defined in the contract. Whenever required, Memo Bank will be facilitating full transparency by giving the relevant access to: independent third parties, asset management companies, and other actors involved in contractual agreements.

Opening and administering client accounts

Digital process

Opening client accounts requires having a business current account with Memo Bank. After you've discussed your needs with your relationship manager, signing the terms and conditions and opening the client account can be done online.

Administering client accounts from Memo Bank platform

You can manage client monies accounts in real-time and in full autonomy from your Memo Bank banking platform. However, closing a client account is managed by your relationship manager.