CLIENT ACCOUNTS

Segregate and safeguard the funds held by your business

Serving Payment Institutions, Electronic Money Institutions, fiduciaries, financing companies, 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. Dedicated liquidity account

4. Specially dedicated account

5. Meal voucher account

6. Dedicated debt collection account

7. Sub-account (of line item account)

8. Trust account

Our expertise in segregating funds

Our sales, legal, and compliance teams have supported more than 50 clients in opening client accounts across sectors such as financing, insurance, asset management, debt collection, and employee benefits. They work closely with the French Prudential Supervision Authority (ACPR) and rely on proven agreement templates for each type of arrangement.

This list of accounts is not exhaustive — get in touch to discuss your fund segregation project.

Vue des comptes principal, de cantonnement et de règlement dans l'interface Memo Bank

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.

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.

Our main client accounts

Ring-fenced account

Payment institutions and electronic money institutions are legally required to safeguard their clients' deposits with a credit institution. Our ring-fenced account meets these requirements and keeps the institution's own funds separate from those of its clients.

Learn more about our ring-fenced account

Settlement account

Payment institutions and electronic money institutions may need a settlement account to process their clients' transactions. Funds flow between the safeguarding account and the settlement account as these transactions are processed. Memo Bank offers the simultaneous opening of a settlement account and a safeguarding account.

Learn more about our settlement acount

Dedicated liquidity account

The dedicated liquidity account is a regulated bank account designed to hold and protect the cash of an investment fund, such as an AIF (Alternative Investment Fund — including SCPIs, FPCIs, FIPs, OPCIs, securitization vehicles, and private equity funds) or UCITS (SICAV, FCP).

Learn more about our dedicated liquidity account

Specially dedicated account

Opening a specially dedicated account may be necessary if your company works with management companies and specialized financing vehicles (organismes de financement spécialisés — OFS) or securitization vehicles (organismes de titrisation OT). The specially dedicated account isolates and protects the flows arising from this collaboration, according to their nature.

Meal voucher account

Our meal voucher account complies with French regulations. It allows voucher-issuing companies to keep their voucher issuance and redemption activities separate from their other operations. Updated in real time and accessible at any time, the account data can be viewed by accountants and used to generate the statements required by the Commission Nationale des Titres-Restaurant (CNTR).

Dedicated debt collection account

This account is designed for companies engaged in amicable debt collection as well as credit servicers and credit purchasers. It provides a framework for debt collection activities, ensuring that receivables are managed lawfully and efficiently.

Sub-account (of line item account)

The master account (also known as an omnibus account) is a bank account structure designed for companies acting as agents on behalf of third parties. Whilst appearing as a single account, it functions as a multitude of independent individual accounts: each line item account belongs exclusively to its actual sub-holder and its funds are their own.

Trust account

Our trust account enables the trustee to segregate and manage assets in the beneficiaries' interest, in accordance with the terms and conditions set out in the trust agreement. Transactions on the trust account are updated in real time, allowing account monitoring, financial reporting, and the management of transactions involving the trust's assets.

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.

Hundreds of companies trust Memo Bank

Cash flow

End-to-end payment automation and reconciliation via API for Defacto

20
Paris (75)

A full suite of client accounts

01Expertise in drafting agreements
02Client accounts tailored to each activity
03Bespoke settings to access and manage client accounts
04Interest on balances set at 25% of the €STR
05Managing the account from Memo Bank Platform or via our Premium banking API
06Financial reconciliation via virtual IBANs

What is a safeguarding/regulated account?

A safeguarding/regulated account is a special bank account, opened with a licensed credit institution, where funds collected by a financial intermediary on behalf of its clients are isolated. These funds are legally separated from the company's own funds: they cannot be seized by the intermediary's creditors in the event of a default.

This protection is based on the principle of legal segregation of funds: the clients of the payment institution remain the owners of their funds, regardless of the intermediary's financial situation. The safeguarding account is opened in the name of the payment institution, which is the sole account holder.

However, the Deposit Guarantee and Resolution Fund (FGDR) in France applies a specific mechanism to third-party funds: the guarantee (up to €100,000) is calculated at the level of each beneficiary, meaning each end client whose funds are deposited in this account. Each client thus benefits individually from FGDR protection, up to the amount of their claim, without the cap being shared among all the payment institution's clients (Article L.312-4-1 of the French Monetary and Financial Code). In practice, the safeguarding account is the guarantee that your clients' money remains your clients' money—even if your company experiences financial difficulties.

Can regulated accounts be managed via API?

Yes, the ring-fenced account and other regulated accounts can be managed via API. Virtual IBANs can also be linked to these accounts to facilitate payment routing and bank reconciliation.

Are Memo Bank's regulated accounts remunerated?

Yes. By default, funds deposited in these accounts earn interest at 25% of the €STR (Euro Short-Term Rate), calculated daily by the ECB and paid out monthly. This remuneration applies from the first euro.