overview
What it is.
Monavate provides multi-currency accounts and virtual IBANs in GBP, EUR and USD, the foundational entry point for value into any payment programme.
SOLUTIONS
Accounts & IBANs
Money in, matched and reconciled before anyone has to ask. Dedicated IBANs per customer, programme or purpose.
How it works.
Clients receive named or virtual IBANs, allocated per customer, programme or operational requirement. Incoming funds are reconciled automatically, and holding multiple currencies reduces unnecessary FX.
Capabilities
What Accounts & IBANs Include.
Virtual IBANs
Unique identifiers for automated reconciliation.
Multi-Currency Accounts
GBP, EUR, and USD.
Automated Reconciliation
Real-time matching.
Jurisdictional Flexibility
Multiple regulatory jurisdictions.
industries
Accounts & IBANs by industry.
Account structure flexes per sector. Click through to see how it fits your industry.
the advantage
Every account, automatically reconciled.
- All accounts within Monavate's single regulatory framework.
- Automated reconciliation across customers, programmes and currencies.
- Flexible IBAN allocation per customer, programme or operational need.
- Integrated with the full payment lifecycle from funding to settlement.
Founded in 2020 and now part of Exodus Movement, Inc. (NYSE American: EXOD). Monavate is a limited company registered in England and Wales with Registration Number 12472532 and registered offices at The Officers' Mess Business Centre, Royston Road, Duxford, Cambridge, England, CB22 4QH. Monavate is authorised and regulated by the Financial Conduct Authority with Firm Reference Number 901097, and Registered VAT number 439 773 155.
UAB Monavate is a company incorporated in Lithuania under Legal Entity Code: 305628001 with registered offices at Konstitucijos av. 21A, Vilnius, LT-08130, Lithuania. UAB Monavate is authorised and regulated by the Bank of Lithuania under Authorisation Code: LB002139
The money held in your Card Account is not protected by the Financial Services Compensation Scheme (FSCS). This means that, unlike a bank account, your funds are not covered by a statutory compensation scheme if Monavate were to fail. Instead, we protect your funds in accordance with the Electronic Money Regulations 2011. These regulations require us to safeguard customer funds by:
i. keeping them separate from Monavate’s own money; and
ii. holding them in designated safeguarding accounts with authorised credit institutions, or otherwise protecting them in a manner permitted by law.
Safeguarding is designed to ensure that your funds are protected and prioritised if Monavate were to become insolvent. In such circumstances, safeguarded funds should not be available to Monavate’s creditors and are intended to be returned to customers, subject to the insolvency process.While safeguarding is not the same as FSCS protection, it is a regulatory mechanism specifically designed for electronic money accounts to help keep customer funds safe.
UAB Monavate is a company incorporated in Lithuania under Legal Entity Code: 305628001 with registered offices at Konstitucijos av. 21A, Vilnius, LT-08130, Lithuania. UAB Monavate is authorised and regulated by the Bank of Lithuania under Authorisation Code: LB002139
The money held in your Card Account is not protected by the Financial Services Compensation Scheme (FSCS). This means that, unlike a bank account, your funds are not covered by a statutory compensation scheme if Monavate were to fail. Instead, we protect your funds in accordance with the Electronic Money Regulations 2011. These regulations require us to safeguard customer funds by:
i. keeping them separate from Monavate’s own money; and
ii. holding them in designated safeguarding accounts with authorised credit institutions, or otherwise protecting them in a manner permitted by law.
Safeguarding is designed to ensure that your funds are protected and prioritised if Monavate were to become insolvent. In such circumstances, safeguarded funds should not be available to Monavate’s creditors and are intended to be returned to customers, subject to the insolvency process.While safeguarding is not the same as FSCS protection, it is a regulatory mechanism specifically designed for electronic money accounts to help keep customer funds safe.