Personal accounts · Planned
Personal accounts are on the way — after business
We’re starting with business accounts. Personal accounts are planned to follow, built on the same idea: published criteria, and a person who reads the application.
Not available yet, and no date set. There’s nothing to sign up for.
The order we’re doing it in
- Business accounts firstThey’re what we’re launching with, and what our application is for.
- Then personal accountsOnce business accounts are established and the protections personal customers are owed are in place.
- Criteria published firstSame approach as business: what we accept and decline, in plain English, before anyone applies.
What’s planned
Four of the five things a business account does
Team access and two-person approvals are for companies. Everything else is planned to carry over.
- Pounds, euros and dollarsOne account, three balances, for people who earn or spend in more than one currency.
- Payments at home and abroadSend and receive, with every payment’s status in plain words.
- The margin on the screenThe same quote as business accounts: mid-market rate, our margin and the fee as separate lines.
- A virtual cardFor spending online, with a limit you set and a freeze you control.
Planned, not promised. What personal accounts include, cost and require will be published before they open. Ahvanah has applied to the FCA to become a small electronic money institution; that application hasn’t been decided.
