Frequently asked questions

Both individuals and companies. Everyone completes identity verification, and companies go through a separate business onboarding process that asks for company information as well.

Your submission is reviewed, and you are notified in the dashboard once a decision has been made. You can check the current status of your verification at any time from your account.

Over 30 currencies are available. The current list is shown when you open a new account, and you can hold several at once under a single login.

Yes. Personal and business accounts are separate, because they are verified differently and hold different information.

Yes. Where a currency supports it, your account is issued its own details so people and companies can pay you directly into the balance you want to be paid in.

You choose the currencies and the amount, and you are shown the rate along with the exact amount you will receive. The conversion only happens once you confirm, and it is then recorded with its rate and timestamp so you can check it later.

Different destinations genuinely require different information. Rather than accept a payment and let it fail later, the required details are checked before the payment is submitted.

Making a payment directly from an external bank account you already hold, and then following that payment through to completion from your dashboard.

Yes, on personal accounts. You request a quote, send the crypto, and receive the proceeds as currency in your FavBank account. Buying and holding crypto are not available yet, but are on the way.

Every collection taken against your account is listed in your dashboard. You can reject a collection you did not expect, or request a refund where you are entitled to one, from that same page.

Download any date range as a CSV or PDF from the statements page, per account. Personal accounts have this today.

Two-factor authentication using an authenticator app, with backup codes issued when you enable it. You can also see every device signed in to your account and sign any of them out remotely, and review a full history of sign-in attempts.

Raise a support ticket from inside your dashboard. Each ticket gets its own reference number, and replies stay in the same thread rather than scattering across email.

Both, from your privacy settings. You can request an export of the personal data held about you, or request that your account be deleted. A deletion request can be cancelled while it is still pending.