Where you can open an account from and what you can do with it, based on your country
Anyone can open a Crezco account, from anywhere in the world. However, depending what country you're in and what currencies you're looking to make or receive payments in, there may be differences with which services you can use, and there may be different processes for those not based in the UK.
Whether you're interested in our Accounts Receivables features, Accounts Payables features, or both - see below how the country you're in affects you.
Accounts Receivables
If you're looking to receive international payments, you will need to be verified for international payments.
- If you are based in the UK, you can invoice to Ireland, Belgium, Spain, France, and Portugal - as well as domestically to the UK, to be paid via open banking. To invoice to any other country, please check the list of supported countries and supported currencies we support - and if they're on the list, you can be paid via manual funding.
- If you are based anywhere else, you can invoice internationally to the UK, Ireland, Belgium, Spain or France to be paid via open banking. Invoicing to any other supported country in any supported currency will be processed via manual funding.
If you're looking to invoice domestically from any country other than the UK, Ireland, Belgium, Spain or France - we may not be the best fit, as you will need to pay SWIFT fees for these transactions.
Fees are always paid by the sender. This means you are always going to get 100% of the invoice amount, because the charges are paid by the payer at the point of account transfer.
As soon as payer hits pay now and confirms, then as long as you have an email assigned to their contact, the you will get an email saying payment has been initiated - and can then track until it reaches the account. The payer will also get an email, detailing the FX charge, the fees, the amount that’s left your account in whatever currency, and the amount that’s going to land in their account - to help with audit trails.
Accounts Payables
If you're looking to make international payments, you will need to be verified for international payments.
- If you're based in the UK, Ireland, Belgium, Spain or France, you can make payments to any supported country in any supported currency via open banking.
- If you are based anywhere else, you can make payments via manual funding, to any supported country in any supported currency.
If you are looking to make domestic payments from any country other than the UK, Ireland, Belgium, Spain or France (i.e. US to US), given the SWIFT fees, we may not be the best fit.
Fees are always paid by the sender. This means the recipient is always going to get 100% of whatever they have invoiced, because the charge is paid by the sender at the point of account transfer.
As soon you authorise the payment, you will receive a confirmation email saying payment has been initiated, with a breakdown of fees, the FX charges, the amount that's left your account in your accounts currency, and the amount that's going to reach the payee's account, in their currency.
Bulk payments
At the moment, our bulk payment feature is only available to those based in the UK, due to open banking limitations. If you're based in the UK you can process international bulk payments as long as the recipient is based in Ireland, France, Portugal, Spain, or Belgium.