IBAN: virtual IBANs, SEPA/SWIFT payins, payouts transfers

IBAN

Content about IBAN for merchants and PSP/EMI clients in high-risk verticals (iGaming, betting, FX/CFD, crypto, adult, nutraceuticals, travel). We cover what IBAN is and how it’s used for collections and payouts via SEPA SCT / SCT Inst and SWIFT, virtual IBANs (per-merchant or per-customer references) for clean reconciliation, statement mapping, and cash management.
Implementation topics: format/length & mod-97 validation, country specifics, naming and reference fields (EndToEndId/USTRD), webhook/report design, cut-off times and T+ settlement, multi-currency setups, and pooled vs dedicated/safeguarding accounts.
Compliance for high-risk: KYB/KYC, AML/KYT, sanctions & geofencing, proof of funds/wealth, and de-risking expectations from banks/EMIs. Includes playbooks for combining IBAN payouts with card/APM/crypto flows and handling refunds vs reversals.

Authoritative outbound resources

SWIFT — IBAN Registry (country formats)

European Payments Council — SEPA SCT & SCT Inst

European Commission — SEPA legal framework

FCA/EBA guidance — safeguarding and payment institutions

Crypto Merchant Services: How to Select the Best Payment Provider

Infographic with icons representing crypto merchant segments such as Web3, DeFi, VASP, crypto wallets, staking, and consulting

At WiseAlt, we’ve seen too many crypto businesses get burned by choosing the wrong crypto merchant services and payment provider. One Web3 client had their IBAN frozen overnight — no warning, no appeal. The reason? “Crypto no longer fits our risk appetite,” said their bank. That single decision put their entire operation on pause.

Whether you’re launching a DeFi platform, managing a centralized exchange, offering staking, or consulting in blockchain, payment infrastructure isn’t just a back-end concern — it’s the bloodstream of your business. Our team put together this guide to help you avoid common pitfalls and choose a provider who won’t disappear when it matters most.

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The Benefits of Multi-Currency IBANs for iGaming Companies

Using digital devices displaying various currency symbols and iGaming elements such as a tossed die, slot machine, and lottery tickets, with a focus on a digital IBAN payment interface

Consulting and Support Services, Global Payment Acceptance, iGaming Payment Insights / WiseAlt

In the dynamic world of iGaming, where global transactions occur around the clock, the ability to manage multiple currencies efficiently is crucial for business success. Multi-currency IBANs represent a transformative solution for iGaming and Betting companies looking to streamline their operations and enhance user experience. Here, we explore the advantages of multi-currency IBANs and how having an integrated IBAN and checkout solution from the same payment provider can significantly benefit iGaming businesses.

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How Canadian MSB Can Open RPAA-Compliant Accounts: Segregated, Trust, and Fiduciary Options for FINTRAC and Bank of Canada Compliance

Digital illustration of a stylized bank vault or digital wallet with a padlock, representing MSB compliance with RPAA and FINTRAC through segregated accounts. Features include faint outlines of Canadian financial icons like the Bank of Canada and a maple leaf, with digital payment flows and a color scheme of blues, whites, and green accents.

Consulting and Support Services, Global Payment Acceptance, Payment Laws and Compliance / WiseAlt

As of March 2025, Money Services Businesses (MSB) in Canada must navigate a dual regulatory framework enforced by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Retail Payments Activities Act (RPAA), overseen by the Bank of Canada. Under RPAA, MSB offering retail payment services—such as money transfers, currency exchange, or cryptocurrency wallets—must safeguard client funds in segregated accounts, trust accounts, or fiduciary accounts. Simultaneously, FINTRAC mandates registration and compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) rules. For MSB, this means partnering with financial institutions to open RPAA-compliant accounts that align with FINTRAC obligations.

How Canadian MSB Can Open RPAA-Compliant Accounts: Segregated, Trust, and Fiduciary Options for FINTRAC and Bank of Canada Compliance Read More »