knowledge base

Emerald Financial Group (UK) Ltd, trading as Emerald24, was launched in early 2019 by experienced professionals in global banking and fintech. The company was founded with a vision to help both local and international businesses and entrepreneurs make international money transfers and exchange currency simply and efficiently at a fair price, bringing intelligence and a human touch to the financial industry.

Emerald Financial Group (UK) Ltd is authorised as an Electronic Money Institution (EMI) by the UK Financial Conduct Authority (FCA) under firm reference number 900908.

Emerald Financial Group (UK) Ltd (DIFC Branch) is authorised by the Dubai Financial Services Authority (DFSA) under reference number F009821. We are listed on the DFSA register. Payment accounts are provided under the UK Electronic Money Institution licence. Emerald Financial Group (UK) Ltd (DIFC Branch) does not provide banking or deposit-taking services.

What is the difference between an e-money licence and a bank licence?

Under an Electronic Money (e-money) licence, we are required to safeguard customer funds in accordance with the Electronic Money Regulations 2011. As a result, Emerald24 customers hold e-money accounts, which are not covered by the Financial Services Compensation Scheme (FSCS), unlike UK bank accounts, which are protected by the FSCS. Nevertheless, Emerald24 has safeguarding measures in place to protect customer funds.

The Financial Conduct Authority (FCA) is the regulatory body in the UK that has authorised Emerald Financial Group (UK) Ltd under the Electronic Money Regulations 2011 and the Payment Services Regulations 2017 as an Electronic Money Institution for the issuance of electronic money (e-money). We are listed on the FCA Register under firm reference number 900908. As an authorised institution, we are required to comply with all relevant regulations and rules set out by the FCA. You can learn more about using non-bank providers on the FCA’s website.

How does Emerald24 keep my money safe?

As an Electronic Money Institution in the UK, Emerald Financial Group (UK) Ltd is required to safeguard your money. Safeguarding means that the money we receive from you, or on your behalf, is placed into segregated client money bank accounts. These accounts are held with a range of UK and EU banks that meet both Emerald24’s and our regulator’s requirements.

These safeguarding measures are designed to protect you against potential loss. For example, in the unlikely event that Emerald24 were to become insolvent, the funds held in these segregated accounts would be distributed to our customers before any other creditors.

Why do you require my personal data?

Personal data is required to create an account with Emerald24. We collect personal information to verify your identity, protect you against fraud, and provide our services securely. To access certain products or services, we may request additional information or documentation. We will always explain why we need this information at the time we ask for it.

Data protection is a high priority for us. Your personal details, along with any documents or information you provide, are securely stored in accordance with our Privacy Policy. For more information about your data subject rights, please refer to Section 6 of our Privacy Policy.

How long does Emerald24 retain my data?

Different types of data are subject to different retention periods. We are required to retain certain personal data for a minimum of five years in accordance with Know Your Customer (KYC) and anti-money laundering legislation.

To ensure compliance with these requirements, we maintain detailed policies and procedures. We may retain your personal data for a longer period where necessary in connection with a potential or ongoing legal claim, or for other legal reasons. Further information about data retention can be found in Section 5 of our Privacy Policy.

Is my personal information safe?

We take the security and confidentiality of your personal information seriously. We use secure data centres with restricted access to store and process your data. Data transmitted between our mobile applications, servers and third parties is encrypted.

If you have any questions regarding data protection, please contact us.

Opening an account with Emerald24 is simple:

1. Complete the online application form on our website: Sign up
2. Provide the required personal or business information.
3. Upload the necessary identity verification documents.
4. Submit your application for review.

Once your information has been verified and approved, you will receive confirmation and access to your account.

For business accounts, additional documentation may be required depending on the company structure.

Emerald24 provides services to:

• Individual (consumer) customers
• Business customers

Eligibility depends on your country of residence and the nature of your business activity. Certain industries and jurisdictions may be subject to additional review or restrictions.

Individual customers must be at least 18 years old to open an account.

If you are unsure whether your country or business activity is supported, please contact our Support Team before submitting your application at hello@emerald.co.uk

If you are having trouble accessing your account, please follow these steps:

1. Check your phone number: make sure you are using the phone number linked to your account.
2. Note any error messages: what happens when you try to log in; take a screenshot if possible.
3. Verify your password: If you might have forgotten your password. Ensure Caps Lock is not enabled.
4. Identify your device and login method: are you using the web browser or the mobile app?
5. Contact your Personal Manager.

If the issue persists, please contact our support team to help you regain access to your account as quickly as possible.

You can download the Emerald24 Mobile App from:

• Apple App Store (for iOS devices)
• Google Play Store (for Android devices)

Search for “Emerald24”, download the application, and follow the guidelines.

If the app is not working properly:

• Make sure you are using the latest version of the app.
• Restart the application.
• Check your internet connection.
• Try reinstalling the app.

If the issue continues, please contact your Personal manager or Support Team at the support@emerald24.co.uk  and provide:

• Your device model
• Operating system version
• A brief description of the issue (screenshots are helpful)

You can reach our Support Team through:

• Your dedicated account manager (email, phone number)
• Email support at hello@emerald24.co.uk or support@emerald24.co.uk
• Contact form available in your online profile

Our team will respond as soon as possible during business hours.

When you apply to open an account with Emerald24, certain fees may apply depending on the type of account you choose and your entity classification. These fees are part of Emerald24’s standard fee structure as published on Fees.

Onboarding Fees – one time initial payment

1. Local UK Payment Account (GBP Only)

For most qualifying UK/EEA/Swiss entities, there is no onboarding fee – this means the account setup is free.

2. International Payment Account (Multi‑Currency)

For multi‑currency accounts (supporting GBP, EUR, USD and other currencies), onboarding fees do apply and vary by client group:

• Group 1 (e.g., UK/EEA/Swiss entities with local UBOs/representatives): £180 / €200
• Group 2 (e.g., UK/EEA/Swiss companies with international UBOs or representatives): £420 / €500
• Group 3 (entities outside UK/EEA/Switzerland or with complex structures): £850 / €1,000

Note: These onboarding fees are one‑off costs charged at account setup and cover the initial processing of your application and account activation.

Before you begin the account opening process with Emerald24, it’s important to understand who is eligible to apply. This eligibility information helps ensure that applications are submitted by individuals or businesses that meet the basic criteria required to hold an electronic money account.

Emerald24 accepts applications from the following types of customers:

1. Individuals

• Natural persons (individuals) who are 18 years of age or older.
• Individuals must be able to provide all required identity and address documents during the application process.

2. Businesses and Legal Entities

• Corporates, limited companies and other registered business entities can apply for an account.
• Your business must be properly registered with the relevant national authority and be in good standing.
• You must have the authority to provide all required information for verification of the business, directors, and ultimate beneficial owners.

Additional Notes

• Discretionary acceptance: Submission of an application does not automatically guarantee approval. Emerald24 evaluates each application in full and may accept or decline at its discretion.
• Further eligibility checks: In some cases, Emerald24 may request additional information or documents.
• Ultimate beneficial owner verification: For business accounts, the identity of directors and ultimate beneficial owners must be verified as part of compliance checks

To complete your account application with Emerald24, you will need to provide specific documents as part of regulatory Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. The documents differ depending on whether you are applying as an individual or on behalf of a corporate entity.

Financial institutions licensed in the UK collect accurate identification information for all account holders and people who control or benefit from accounts. These requirements help prevent fraud, money laundering and other financial crime.

For individual customers

When opening an individual account, you must submit:

1. Proof of Identity: valid passport or national identity card
2. Proof of Residential Address: Recent utility bill, bank statement, council tax bill or similar document dated within the last 3 months showing your current address.
3. Face Verification/Liveness check: As part of the onboarding process, you will complete a secure online face verification (liveness check).
4. Additional KYC Information: Depending on AML risk factors, you may be asked for source of funds/wealth, employment details, or other relevant information.

For corporate customers individual 

Companies must provide both corporate documentation and identification for key representatives:

• Corporate Documents: Certificate of Incorporation or equivalent legal registration document. Memorandum and Articles of Association (or governing rules of the business). Extract from the Corporate Register, showing company status and details (issued within 6 months).
• Ownership and Control Structure, including a list of shareholders/members and details of all persons holding significant ownership or control.
• Identity verification for Corporate Representatives
• Business operations supporting documents
• Proof of address (recent utility bill or equivalent).

Additional information: 

Translation: If your documents are in a language other than English, you may need to provide a notarised English translation.

Enhanced Due Diligence: Where applicants or associated persons are deemed higher risk, Emerald24, may request additional documentation or information.

The following business activities and client types are not supported by Emerald24:

• Arms, defence, military
• Nuclear power;
• Red light business/Adult entertainment;
• Marijuana-related entities;
• Insurance and re-insurance services;
• Forex;
• ICO (Initial Coin Offering);
• Multi-level marketing;
• Unregulated charities, social service organisations and other non-profit or political organisations;
• Non-Government Organisations;
• Embassies, consulates;
• Shell banks;
• Unlicensed service providers, where a licence would be required according to the normative acts of the UK;
• Ownership of the company through bearer shares;
• Persons acting in the interests/for the benefit of third parties;
• Sanctioned persons; persons owned or controlled by sanctioned persons;
• Companies incorporated in the US;
• Private individuals related to the US;
• Companies where beneficial owners are related to the US;
• Private individuals residing in prohibited countries;
• Companies incorporated and individuals residing in prohibited countries, as well as companies with account signatories / shareholders-legal entities / UBO’s incorporated / residing in prohibited countries;
• Companies / individuals whose activities (supply of goods / provision of services) are related to prohibited countries.

• Afghanistan
• Belarus
• Burundi
• Central African Republic
• Cuba
• Ethiopia
• Guinea
• Guinea-Bissau
• Haiti
• Iran
• Iraq
• Lebanon
• Libya
• Mali
• Myanmar
• Nicaragua
• North Korea
• Pakistan
• Palestine
• Russia
• Somalia
• South Sudan
• Sudan
• Syria
• The Democratic Republic Of The Congo
• Tunisia
• Venezuela
• Yemen
• Zimbabwe

The time required to open an account depends on the type of applicant, the completeness of the documentation provided, and the complexity of the business model.

Individual Accounts

Applications are typically reviewed within 1–2 business days, provided all required information and documents are submitted correctly.

Business Accounts

Corporate onboarding generally takes 2–5 business days. More complex structures, regulated activities, or higher-risk industries may require additional review time.

What May Affect the Timeline:

• Incomplete or unclear documentation
• Complex ownership structures
• Regulated or high-risk business activities
• Enhanced due diligence requirements
• Delays in responding to additional information requests

Please note that submission of an application does not guarantee approval. Our compliance team may request further information during the review process, which may extend the onboarding timeline.

You can access your Emerald24 account through:

• Web Portal – via your browser
• Mobile App – available for iOS and Android devices

Both platforms provide secure access to your account, including balances, payments, cards, and account settings.

How do I log in to the Web Portal?

1. Visit the Emerald24 login page.
2. Enter your registered email address.
3. Enter your password.
4. Complete two-factor authentication (2FA).

How do I log in to the Mobile App?

1. Open the Emerald24 Mobile App.
2. Enter your login credentials.
3. Complete biometric authentication (Face ID / fingerprint)

For security reasons, you may occasionally be asked to re-authenticate.

I cannot access my account. What should I do?

If you are unable to log in:

• Make sure your login details are correct.
• Ensure your 2FA method is accessible.
• Contact Emerald24 Support or your account manager for assistance.

Emerald24’s Multi-Level Account Signatures and Approval Workflows enable businesses to implement structured payment authorisation controls within their account.

This feature allows you to require more than one authorised representative to approve transactions before they are executed, helping to strengthen internal governance, improve operational oversight and reduce fraud risk.

How do approval workflows work?

Depending on your account setup, payments may require:

• Single approval (one authorised user)
• Dual approval (two authorised users)
• Multiple approval levels (based on transaction amount or internal rules)

Approval requests can be submitted within Emerald24 Online Portal.

Can approval limits be customised?

Yes. Approval structures, signature rules, and transaction thresholds can be configured based on your company’s internal policies.

To set up or modify approval workflows, please contact your account manager.

Can I add additional users to my business account?

Yes. Emerald24 business accounts support multiple authorised users, each assigned specific roles and permissions according to your organisation’s needs.

This allows you to maintain clear separation of duties and controlled access across your team.

What roles are available?

• Full Access: Authorised to open, operate, and close the Company’s account(s) individually.
• View-Only: Authorised solely to access and view account information, without transactional authority.
• Create Payments: Authorised to create and initiate payments, without authority to approve or authorise them.
• Approve Payments: Authorised to initiate and approve payments

Available roles may vary depending on your account type and internal structure.

How do I add a new user?

1. Submit a request via the Emerald24 Online Portal.
2. A Statement of Authorisation must be completed and signed by a duly authorised legal representative of the company.
3. The Statement of Authorisation form can be requested from your Personal Manager.
4. Provide the required identification details and supporting documentation for the new user.
5. The new user must complete KYC verification.

Access will be granted once verification and approval have been completed.

Can I remove or change user permissions?

Yes, full access representative can request:

• Removal of user access
• Role changes
• Adjustment of approval limits

For security reasons, all changes require formal confirmation

How can I download account statements?

You can download account statements via:

• Web Portal → Account → Statements
• Select the required date range
• Download in available formats (e.g., PDF or CSV)

Statements include transaction details, balances, and references.

Can I automate statement delivery?

If required, periodic statements may be provided upon request. Please contact your account manager to arrange scheduled reporting.

What are batch payments?

Batch payments allow you to upload and process multiple payments at once instead of entering them individually.

This is particularly useful for:

• Payroll
• Supplier payments
• Bulk transfers

How do I submit batch payments?

1. Download the batch payment template (if applicable).
2. Complete required fields (beneficiary details, amounts, references).
3. Upload the file via the Web Portal.
4. Review and submit for approval (if required).
5. Complete approval workflow.

Please ensure file formatting complies with Emerald24 specifications to avoid processing delays.

With Emerald24, you can send funds quickly and securely directly from your account. Whether you are paying a supplier overseas, transferring funds within Europe or making a domestic payment, the process is straightforward and transparent.

How to send a payment:

1. Log in to your Emerald24 account via the Web Online Portal or Mobile App.
2. Select New Payment.
3. Choose your payment type (SEPA, SWIFT, Faster Payments or internal transfer).
4. Enter the beneficiary details.
5. Review and confirm the transaction.

Why choose Emerald24 for transfers?

• Competitive foreign exchange rates
• Transparent fee structure
• Secure and compliant processing
• Fast execution within supported payment networks

Receiving funds to your Emerald24 account is straightforward. You can find and share your account details in the Online Portal under the “Account Details” section. Please provide the following details to your counterparty:

• Account holder name
• IBAN
• BIC/SWIFT code

Once the funds are received through the relevant payment network, they will be credited to your account. You will also receive a payment confirmation notification via your Emerald24 Mobile App.

In line with regulatory requirements, incoming funds may be subject to transaction monitoring and compliance review. In some cases, additional information may be requested before funds are made available.

Emerald24 accounts are designed to support both business and personal financial activity, making it easy to receive payments from partners, clients and counterparties worldwide.

For further information, please contact your Personal Account Manager.

Emerald24 provides access to trusted domestic and international payment networks, giving you flexibility and speed when moving funds.

Faster Payments (UK)

Send GBP payments within the United Kingdom using the Faster Payments Scheme. Payments are typically processed very quickly and are offered at a low cost.

SEPA Transfers

Send and receive EUR payments across the SEPA zone efficiently and cost-effectively. Ideal for European transactions.

SWIFT Transfers

Send international payments in major global currencies. Perfect for worldwide trade and cross-border business.

Internal Transfers

Move funds instantly between Emerald24 accounts, free of charge.

Availability of specific payment methods may depend on your account type and onboarding profile. Please contact your Personal Account Manager for more information. 

Send funds across Europe and beyond, Emerald24 supports:

• EUR payments across the SEPA region
• International transfers via SWIFT to a wide range of countries

Our compliance framework ensures that payments are processed securely and in line with applicable regulatory requirements.

Certain jurisdictions may be restricted in accordance with regulations.

Please refer to our Restricted Payment Geography list: Afghanistan, Belarus, Central African Republic, Cuba, North Korea, Ethiopia, Haiti, Iran, Iraq, Lebanon, Libya, Mali, Myanmar, Nicaragua, Pakistan, Palestine, Russia, Somalia, South Sudan, Sudan, Syria, The Democratic Republic Of The Congo, Tunisia, Venezuela, Yemen.

Emerald24 accounts are built for international activity. Depending on your account configuration, you may hold and transact in the following currencies: EUR, USD, GBP, AED, CHF, BGN, CAD, CZK, DKK, HKD, HUF, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, TRY, ZAR and others.

Multi-currency functionality allows you to hold funds in different currencies and reduce unnecessary conversion costs.

For full details on supported currencies, please refer to your account agreement or contact your Account Manager.

Emerald24 enables you to convert funds directly within your account, offering a seamless foreign exchange experience.

Exchange rates are based on prevailing market conditions, with an applicable margin depending on your pricing plan.

The Currency Exchange option is available inside your Emerald24 Online Portal.

For further guidance, please contact your Personal Account Manager.

To ensure same-day processing, payments must be submitted before the daily cut-off time (2pm UK time).

Cut-off times vary depending on:

• Payment type
• Currency
• Destination country

Payments submitted after the relevant cut-off time will be processed on the next business day.

For precise cut-off times applicable to your account, please contact your Personal Account Manager.

Emerald24 payment cards are available to both individual (consumer) and corporate customers who hold an active Emerald24 account.

• Consumers can request cards for personal use.
• Corporate customers can issue cards for business purposes, including cards for directors, employees, or authorised representatives.

Card availability is subject to successful onboarding, identity verification, and compliance checks.

Become a customer: Sign up

Card type: Emerald24 offers virtual and plastic (physical) payment cards.

Virtual cards

A virtual card is a digital payment card that does not have a physical form. It comes with a 16-digit card number and full card details, allowing you to make secure online purchases. Available to both individual (consumer) and business customers.

• Available instantly after issuance
• Suitable for online purchases and subscriptions

Plastic cards

Plastic cards are physical payment cards delivered to your address. Available to both individual (consumer) and business customers.

• Suitable for online and in-store payments
• Supports ATM withdrawals
• Supports contactless payments

Card functionality

Both virtual and plastic cards allow you to:

• Make online and point-of-sale purchases
• Track transactions in real time
• Instantly block or unblock cards
• Use your card worldwide where Mastercard is accepted

Additional information:

1. Can I use my card in different currencies? – Currently, all Emerald24 cards are single-currency, with balances denominated in EUR. You can still make payments in other currencies – the amount will be automatically converted at the applicable exchange rate.
2. Will my card support contactless payments? – Yes. Contactless payments will be activated after your first in-store purchase, once you enter your PIN at the payment terminal.
3. Can I add my card to Apple Pay or Google Pay? At the moment, Apple Pay and Google Pay are not supported by Emerald24.

To order a card:

1. Log in to your Emerald24 account: Log in
2. Navigate to Cards → Order a card
3. Select the card type (virtual or plastic)
4. Confirm cardholder details and delivery address (for plastic cards)
5. Submit your request

Additional information:

1. When will cards be available? – Virtual cards are issued immediately. Plastic cards are produced and shipped according to standard delivery timelines. Additional KYC process might be required for corporate cards.
2. Can I have several business cards? – Yes, additional business cards can be issued once the employee or authorised representative has successfully completed KYC verification. Please contact your account manager to proceed.
3. How many cards may I have? – Each cardholder is able to get 1 virtual and 1 plastic card.

Card activation

Virtual Cards are activated automatically upon successful issuance. Log in to your online portal’s Cards section to view your virtual card number and other important details.

Plastic Cards must be activated in your Emerald24 account before first use:

1. Log in to the Emerald24 online portal or Emerald24 App.
2. Go to the Cards section and select My Cards.
3. Choose the card you want to activate and select More → Card Activate.

Blocking a card

You can block or unblock your card at any time via:

• Emerald24 web platform
• Emerald24 Mobile app
• By contacting your account manager

(!) Blocking a card immediately prevents further transactions and helps protect your funds.

1. Log in to the Emerald24 online portal or Emerald24 App.
2. Go to the Cards section and select My Cards.
3. Choose the card you want to activate and select More → Block

Lost or stolen cards

If your card is lost or stolen:

1. Block the card immediately in your Emerald24 online portal or Emerald24 App.
2. Go to the Cards section and select My Cards.
3. Choose the card you want to activate and select More → Lost Card / Stolen Card
4. Contact the Emerald24 Support Team as soon as possible.
5. Request a replacement card if needed

Blocking the card helps prevent unauthorised transactions. Replacement cards may be subject to fees.

Card Top-Up and Unload

Your cards are prepaid and must be topped up from your Emerald24 account. You can top up your card instantly in the Cards. Top-ups are processed instantly.

Your cards are prepaid and must be topped up from your Emerald24 account.

1. Log in to the Emerald24 App or online portal
2. Go to Cards → My Cards
3. Click Top Up next to the selected card
4. Choose the account, enter the amount, and confirm

You can also transfer funds from your card back to your current account at any time by selecting Unload Card. Funds will be credited to your account immediately. You can transfer funds from your card back to your current account at any time:

1. Go to Cards → My Cards
2. Select the card
3. Choose Unload Card

Fees & Limits

Please note: fees and limits may change from time to time. The Fee Schedule is the most up-to-date source of information.

• Monthly spending limit – 10 000 EUR
• Monthly ATM Cash Withdrawal limit – 5 000 EUR
• Daily ATM Cash Withdrawal limit – 5 000 EUR
• Single ATM Cash Withdrawal limit – 1 000 EUR

Detailed information about card fees, transaction charges, and applicable limits is available in our Fee Schedule

Emerald24 cards support enhanced online security features to protect your transactions, including:

• 3D Secure / Strong Customer Authentication (SCA) where required
• Real-time transaction monitoring
• Instant card blocking if suspicious activity is detected

For additional security, we recommend:

• Enabling transaction notifications
• Regularly reviewing card activity
• Keeping your login credentials confidential

Suspicious Transaction: If you notice a suspicious transaction on your card, first suspend or block your card to prevent further fraudulent activity. Then, contact the Emerald24 Team to initiate an investigation or dispute the transaction. For additional guidance, please reach out to your account manager.