REGULATED CLIENT ACCOUNT

The settlement account

The settlement account is the operational account that orchestrates your payment flows (collection, controls, balancing, and disbursement). It can be used on its own or alongside a ring-fenced account. Managed via API in real time, it integrates directly into your systems with no manual intervention required.

The settlement account: the operational account

The settlement account is the operational account at the heart of your payment infrastructure. It acts as a transit buffer for incoming funds: your teams can perform the necessary controls (flow verification, rejection management, end-of-day balancing) and settle the company's operational costs — operations that cannot be carried out directly from a ring-fenced account.

It earns interest at 25% of the €STR by default, calculated daily and paid out monthly.

API-driven management of your settlement account flows

Flow management via API

Managing flows via API in real time enables you to orchestrate all your payment operations without manual intervention. SEPA direct debits and incoming transfers are triggered directly from your systems. Funds are then transferred within seconds to the ring-fenced account or directly to your beneficiaries, via instant or bulk payment. You are notified in real time by webhook at each event (credit, debit, rejection).

Développeur recevant un webhook de virement entrant via l'API Memo Bank

Bidirectional virtual IBANs

A dedicated virtual IBAN per client, debtor, or transaction allows each incoming or outgoing flow to be automatically identified and reconciled — some clients generate several tens of thousands via API.

Access rights management

Access rights to the settlement account are configured within the account agreement. Administrators have full rights by default, and team members can be invited with restricted permissions. Approval rules can be configured (dual authorisation, amount-based thresholds). In arrangements involving multiple stakeholders, read-only access can be granted to external entities.

Gestion des accès utilisateurs dans l'interface Memo Bank

Settlement account features

About the settlement account

Account name: Settlement account (label can be customised)

Negative balance: not permitted

Bidirectional virtual IBANs: available on request

Remunerated deposits

25% of the €STR by default

Monthly interest payments credited to the settlement account itself

Incoming and outgoing flows

Incoming direct debit (SDD in): permitted

Outgoing direct debit (SDD out): available on request

Outgoing SEPA standard, instant, or SWIFT transfer

API-driven flow management

Frequently asked questions about the settlement account

What is the difference between a settlement account and a ring-fenced account?

The ring-fenced account is a regulated client account that legally protects client funds — it can only be debited to execute their payment instructions or to return their funds. The settlement account is the operational account that orchestrates flows: collection, controls, company charges, and balancing before ring-fencing. Both can be opened simultaneously under a single account agreement.

Can the settlement account be used without a ring-fenced account?

Yes. The settlement account meets the needs of businesses managing high volumes of payment flows without a strict regulatory ring-fencing obligation. It can also be used on its own by PIs or EMIs that already hold their ring-fenced account at another bank and simply wish to benefit from the Memo Bank API for the operational management of their flows.

How does the API ensure D+1 compliance alongside a ring-fenced account?

The automatic transfer from the settlement account to the ring-fenced account is triggered by your business rules within seconds, 24/7. Each movement is timestamped and traceable for your ACPR audits.

Are settlement account balances remunerated?

Yes, at 25% of the €STR by default, calculated daily and paid out monthly directly into the settlement account.

Can the settlement account be seized by creditors?

The settlement account is a current account and is not subject to the acount-unity rule, meaning it cannot be seized.

The settlement account