Eligibility Criteria

To apply for services from Modulr, you need to satisfy the below minimum eligibility criteria. However, this is not a guarantee that we will be able to offer you services.

 

Client type

Criteria

Direct
  • Your company is a legally incorporated entity. 
  • Your company has the appropriate registrations/supervisory status in respect of the services in which you operate.  
  • You must not be engaged, or have customers who are engaged in the following industries; 
    • Adult entertainment, products or services; 
    • Gambling; 
    • Arms Dealing; 
    • Money Transmission services, where the originator or recipient of the payment is unclear; 
    • Act as a wholesaler to cash-based money remitters; or 
    • Offer downstream services to other PSPs beyond your original customer. 

Partner
  • Your company is a legally incorporated entity. 
  • Your company has the appropriate registrations/supervisory status in respect of the services in which you operate.  
  • You must not be engaged, or have customers who are engaged in the following industries; 
    • Adult entertainment, products or services; 
    • Gambling; 
    • Arms Dealing; 
    • Money Transmission services, where the originator or recipient of the payment is unclear; or 
    • Act as a wholesaler to cash-based money remitters.  

Payments Clearing Model
  • Your company is a legally incorporated entity. 
  • Your company is a financial institution (FI) that is registered with, or authorised by the appropriate regulatory body or bodies to provide financial services within the jurisdictions in which you operate.  
  • For the purposes of Modulr’s eligibility criteria, an FI comprises the following: 
    • Banks; 
    • Building Societies; 
    • Credit Unions; 
    • Authorised E-Money Institutions; 
    • Small E-Money Institutions; 
    • Authorised Payment Institutions; and 
    • Small Payment Institutions. 
  • You must not be engaged, or have customers who are engaged in the following industries; 
    • Adult entertainment, products or services; 
    • Gambling; 
    • Arms Dealing; 
    • Money Transmission services, where the originator or recipient of the payment is unclear; 
    • Act as a wholesaler to cash-based money remitters; or 
    • Offer downstream services to other PSPs beyond your original customer

Accountants & Small Businesses

Modulr also provides services to small businesses and accountants. To learn more, please visit: 

For any enquiries relating to eligibility in this category, please contact us via https://www.modulrfinance.com/small-business/contact 

 

Assessment Criteria 

Modulr will assess your application against the following criteria: 

  • Financial Crime and Compliance Control Framework – Prospective clients must demonstrate a robust financial crime and compliance control framework by providing up-to-date procedures and documentation on your financial crime compliance controls, including the systems and controls to manage money laundering, financial sanctions and fraud risk. This must be evidenced through a side-by-side walkthrough of the framework which may result in requested remedial actions 
  • Financial Viability – You will need to demonstrate your financial status, business and operating model.  

For Modulr to start assessing your application we need a completed application form and relevant documentation to make our assessment.  

Unsure if you're eligible? 

For enquiries relating to eligibility, please contact us via: https://www.modulrfinance.com/contact-us

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