User Manual
  • Welcome
  • Account Types
    • Individual Account
    • Business Account
    • Capital Payment Account
  • Payments
    • Cash Deposit
    • Cash Payout
    • MasterCard Debit
    • VISA Debit
  • Transactions
    • Peer-2-Peer
    • Money Exchange
    • Crypto Top-up
  • Misc
    • Fiat24 NFT
    • China National ID
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  • Eligibility
  • Monthly Limit
  • Registration Steps
  1. Account Types

Business Account

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Last updated 25 days ago

Eligibility

A business entity

  • Legal form as joint-stock companies (AG), limited liability companies (GmbH) or Foundation

  • Not a domiciliary company

  • Not in high-risk industry

  • Controlling person(s) and shareholder(s) not sanctioned or PEP.

  • Domicile in Switzerland

Monthly Limit

Each business account has a monthly transaction limit. If a user exceeds this limit within 30 days, they will not be able to perform any further transactions until the limit is reset.

The transaction limit varies depending on the length of the NFT.

5 digits NFT
4 digits NFT
3 digits NFT
1 - 2 digits NFT

500,000 USD

5,000,000 USD

50,000,000 USD

Upon Request

Registration Steps

1

Buy a Business NFT

You must first acquire a Business Account NFT starting with the digit 8. The NFT purchase is equivalent to paying the application fee that is usually required by institutions to review any Business Account application.

Please refer the Pricing for Business Accounts.

2

Submit a Questionnaire

  1. As a licensed financial institution, we accept our clients in very prudential way. If we believe your domicile, risk profile, or background doesn’t match our business focus, we may not accept to open the business relationship with you.

  2. You may write an initial contact email to generally ask about your country or business profile, but we will only fully review applications from entities that own a Business Account NFT.

  3. It is not necessary to send any documents attached to the initial contact email described above. The first contact email is to pre-screen your company's eligibility for a Fiat24 Business Account.

  4. If your pre-screening is successful and/or after you have purchased a Business Account NFT, please email service@fiat24.com to give us the NFT number. You will receive an email response asking for a number of documents for the company onboarding application, including the following:

    1. A LINK to the onboarding questionnaire to fill out

    2. Extract from the Commercial Register of the country where the company is registered

    3. Valid biometric passport(s) of all the natural Controlling Person(s) of the company (owning 25% or more of the company's shares)

    4. Valid biometric passport of the natural person(s) opening the account for the company

    5. Board of Directors Resolution authorising the above to act on behalf of the company

    6. Documentation regarding the company's business plan and financials.

  5. Furthermore, depending on the specific situation, we may ask for residence permits, bank statements, business presentations, and/or employment, sales or office rental contracts. The extra documentation requirements depend on your specific case.

3

Physical or Online Meeting

To finalise the verification, the controlling person will be asked to have a face-to-face meeting, either by coming to our office in Zurich or having a online video call.

4

Done

We aim to open your Business Account within 2 - 3 weeks of receiving all the required documents.