GBP business account for companies outside the UK
Align gives companies based outside the UK a GBP account with UK account details for Faster Payments in the company's name, for receiving and sending pounds. Pounds you receive land in your balance as USDC or USDT.
By Pavel Skalin, Founder & CEO, Align · Reviewed by the Align compliance team
Updated · 5 min read
The short answer
Align gives companies based outside the UK a GBP account: UK account details for Faster Payments in your company's name, for receiving and sending pounds. UK customers pay you by Faster Payments like any domestic supplier, and pounds you receive land in your balance as USDC or USDT.
Because USDC and USDT are dollar stablecoins (USDT vs USDC), a sterling receipt involves a conversion. Align's GBP account details are for Faster Payments. If you need to keep sterling as sterling, or your customers pay by Bacs or CHAPS, check which provider covers that before you choose.
At a glance
| Align GBP business account | |
|---|---|
| Account details you receive | UK account details for Faster Payments in your company's name |
| Rails | Faster Payments |
| Who it's for | Companies based outside the UK that get paid in pounds or pay UK suppliers. Align doesn't onboard companies based in the UAE, and some countries and activities are prohibited |
| Whose name is on it | Your company's, as the account holder. The account is permanent: issued to you and kept for future payments |
| How money lands | In your balance as USDC or USDT. You can pay out in GBP, USD, EUR or AED, or send USDC and USDT to wallets |
| Onboarding time | 1 to 5 business days for Align's compliance review |
| Pricing | Quoted on request: contact us |
What UK payers need from you
UK bank transfers are generally addressed to a sort code and account number. Give payers the UK account details we give you, your company's legal name exactly as registered, and the invoice number you want as the payment reference.
The name matters because of Confirmation of Payee (CoP). The payer's bank sends the name the payer typed, with the sort code and account number, to the provider holding the account, and gets back a match, close match or no match. Pay.UK's guidance says a payer paying a business should use the registered business name or a trading name registered to the account, and the check includes a personal or business account indicator. Tell payers to choose a business account and type your name in full.
CoP now covers nearly all Faster Payments and CHAPS transfers. The Payment Systems Regulator directed around 400 more firms to offer it, with the second group due by 31 October 2024. Pay.UK says 829 million checks were made in 2025.
How the receiving account is set up changes the result. CoP checks the name the receiving provider holds for the account, so whose name the account is in matters. If your money sits in a provider's shared account and you're identified by a reference, the name held may be the provider's. If the provider holding the account doesn't offer CoP, the payer is told the name was unable to be checked.
Faster Payments: speed and limits
| Faster Payments | |
|---|---|
| Speed | Usually almost immediate; sometimes up to two hours |
| Hours | Single immediate payments at any time, subject to the payer's bank; standing orders Monday to Friday, excluding bank holidays |
| Scheme limit | £1 million per payment, since February 2022 |
| Bank limits | Each bank can set a lower limit |
| Scale | 5.5 billion payments worth £4.8 trillion in 2025 |
Pay.UK's speed figures apply when both banks are direct participants. When either one isn't, the same timescales can apply, but some payments take longer, especially outside working hours.
Why sterling payments fail or are held
- The amount is over the payer's limit. The scheme takes up to £1 million, but the payer's bank may cap business payments lower. Ask a new customer what their limit is before you send a large invoice.
- A CoP warning. A close match or no match result can make a payer stop and call you before paying. Give your exact registered name on every invoice.
- A fraud hold. UK rules let the payer's bank delay an outgoing payment until the end of the fourth business day after it receives the order, if it has reasonable grounds to suspect fraud or dishonesty, the FCA explained in November 2024 guidance.
- Scam checks on new payees. Since 7 October 2024, the PSR's reimbursement rules have covered authorized push payment scams on Faster Payments and CHAPS transfers, with claims of up to £85,000, for individuals, micro-enterprises and charities. A new customer's bank may ask about a first payment to you. A small first payment lets you both confirm the details work.
- The wrong rail. Some UK companies pay suppliers in Bacs runs, where a payment is credited on the third day of the processing cycle. If a customer only pays by Bacs, agree the rail with them and your provider before you invoice.
What to check when choosing a provider
- Whose name is on the account. With a named account, the name held for the account is your company's. With a pooled one, CoP checks may run against the provider's. See named vs pooled virtual accounts.
- Whether it answers CoP checks. If not, every payer sees that the name couldn't be checked.
- Which UK rails it receives. Faster Payments, Bacs and CHAPS are separate systems. Ask which ones the account receives, and match that to how your customers pay.
- What happens to the pounds. Some providers keep them as sterling. With Align they land as USDC or USDT, and the stablecoin is converted when you pay a supplier, so ask for conversion pricing when you request a quote.
How to open one
- Create an account online. It takes a few minutes.
- Upload your company documents. This takes 5 to 10 minutes if you have them ready. The KYB documents guide lists what to prepare.
- Wait for the compliance review. Align's compliance team reviews your documents in 1 to 5 business days. Your application shows Pending KYC Completion until documents are submitted, Pending while they're under review, Resubmission Required if Align needs more information or a replacement document, and Approved when the account is active.
Once you're live, payments to third parties such as suppliers go out from your named account, and Align may ask for the invoice behind a payment. Read the prohibited and restricted use policy before you apply.
Align Payments Ltd. is registered with FINTRAC in Canada as a money services business (registration no. N300000203). Regulated services are provided through licensed financial institutions.
Sources
- Pay.UK, £1 million Faster Payments now possible (February 2022) and Faster Payments transaction limits
- Pay.UK, How Faster Payments work and Types of Faster Payment transactions
- Pay.UK, Annual report and financial statements 2025 (July 2026)
- Pay.UK, Confirmation of Payee and Confirmation of Payee FAQs
- Payment Systems Regulator, Confirmation of Payee
- Payment Systems Regulator, APP fraud reimbursement protections
- Financial Conduct Authority, FG24/6: Payment delays (November 2024)
- Bacs, Bacs Direct Credit
- Align docs, Business (KYB) verification
Common questions
- Can a company outside the UK get GBP account details?
- Yes. If your company is based outside the UK, Align gives you UK account details for Faster Payments in your company's name, for receiving and sending pounds. Pounds you receive land in your balance as USDC or USDT.
- What will UK payers see when their bank checks my name?
- Confirmation of Payee compares the name the payer types with the name the receiving provider holds for the account, and returns a match, close match or no match. On a close match, the payer is shown the actual account name. If the provider holding the account doesn't offer the check, the payer is told it couldn't be done.
- Is there a limit on Faster Payments?
- The scheme allows payments of up to £1 million each, a limit Pay.UK raised from £250,000 in February 2022. Each bank can set a lower limit, so a large invoice may hit the payer's limit rather than the scheme's.
- How quickly does a Faster Payment arrive?
- According to Pay.UK, funds are usually available almost immediately, though a payment can sometimes take up to two hours. Single immediate payments can be sent at any time, subject to the payer's bank.
This page is general information, not legal, tax or financial advice. Rules and providers' terms change; check the sources linked above and take advice on your own situation.
Related reading
Open a business account built on stablecoins.
Named USD, EUR, GBP and AED accounts in your company's name, with USDC and USDT in and out. Apply online; our compliance team reviews applications in 1 to 5 business days.