FAQ
If you are wondering how a Narvi account can serve your business needs, we've gathered the answers to popular questions here.
Frequently Asked Questions
Account Onboarding & Narvi Reviews
How is Narvi different from other neobanks?
How is Narvi different from other neobanks?
We've prepared a detailed overview of our services in comparison to a few other financial institutions.
Where can I find reviews of Narvi?
Where can I find reviews of Narvi?
We understand that potential clients want to feel confident in our quality and security. Because of the sensitive nature of our financial services, we’ve chosen not to maintain a page on Trustpilot or similar review platforms. Here’s why:
- Account Security and Privacy: Discretion is key for our clients. As a financial services provider, we know that our clients typically prefer not to publicly disclose where they manage their funds. After all, financial privacy reduces risks associated with hacking and phishing attempts. It’s a core part of our values to protect both privacy and security.
- Integrity of Public Review Pages: Reviews on open platforms sometimes reflect the voices of individuals we’ve had to turn away for compliance reasons or, in rare cases, accounts we’ve had to close. Unfortunately, this can lead to a less accurate picture of our services. We’re firm about our standards, which means occasionally declining certain accounts to protect our network’s security and meet regulatory requirements.
Is my money safe in a Narvi Account?
Is my money safe in a Narvi Account?
Narvi is regulated as an Electronic Money Institution. We are required to protect your money and keep it safe by following strict safeguards and segregation of funds rules. All of our customers’ funds are held in the European Union at reputable banks. All of these funds are currently held as cash deposits with our Banking partners. We also undergo regular stress tests and audits to ensure that we meet both security and regulatory standards.
Which countries are you currently onboarding customers from?
Which countries are you currently onboarding customers from?
We can currently onboard customers based in any European country and many other countries worldwide. Almost all companies that are incorporated in the European Union and European Economic Area (EU/EEA) can be easily onboarded to Narvi. We are also able to onboard some customers whose companies are incorporated outside the EU/EEA. Please contact us to confirm if we are currently able to onboard your company or simply start our digital onboarding process, submit your application and our team will get back to you.
Can I sign up for a SEPA account if my company is not registered in Europe?
Can I sign up for a SEPA account if my company is not registered in Europe?
It is possible to open an account with Narvi and get a SEPA IBAN account even if your company is registered outside of Europe. You can reach out to contact@narvi.com to see if we are able to onboard your company. It should be noted that opening accounts from outside of Europe may require additional time to verify your documents.
How much does it cost to open and use a Narvi account?
How much does it cost to open and use a Narvi account?
Find general information about Narvi account pricing on this page.Narvi's fees are transparent, and there are no hidden charges. Our fees depend on various factors like risk, industry, and country of incorporation. For an indication of pricing before you complete your onboarding application, reach out to our support team via this page.Here's how you will get your offer:
- book a call with us to discuss your needs and find out the pricing estimate.
- complete the 10-minute digital onboarding.
- our compliance team reviews submitted company documents and all the relevant factors. Based on your business profile, we provide the exact offer.
How long does it take to process an onboarding application?
How long does it take to process an onboarding application?
After you submit the full application, our compliance team will review it within five to seven days and may contact you with additional questions. Depending on various factors and your responses, there may be one or two rounds of questions. Then the decision will be made whether to approve or decline the application. This process typically takes up to two weeks, although the duration can vary based on the industry and the complexity of the individual case.
Your compliance team is asking for my TIN number. What is it and where do I find it?
Your compliance team is asking for my TIN number. What is it and where do I find it?
TIN is your business (or personal) tax identification number. Read our guide to learn how to identify and obtain your TIN.
Frequently Asked Questions
Payments
What will the account name be on the payments I send and receive?
What will the account name be on the payments I send and receive?
Narvi provides you with your own unique IBAN (International Bank Account Number). This means that all payments are sent and received under your company name. When you make payments, your company’s name and IBAN will appear on the recipient’s bank statement.
Does Narvi issue own IBANs or another institution's?
Does Narvi issue own IBANs or another institution's?
Narvi issues own IBANs. The BIC/SWIFT code of your account will have Narvi's name, and IBAN issuer/holder is Narvi Payments Oy Ab.
Does Narvi allow sending and receiving payments to/from individuals?
Does Narvi allow sending and receiving payments to/from individuals?
No, Narvi account allows you sending and receiving wire transfers only to/from other business (or government) entities.
Does Narvi provide SEPA payments?
Does Narvi provide SEPA payments?
The Narvi platform provides SEPA Instant payments 24/7 using Smart Routing Technology. This allows you to make SEPA Transfers and receive euro payments from all countries in the SEPA Zone.
What is the processing time for SEPA payments?
What is the processing time for SEPA payments?
Narvi supports both SEPA Instant and regular SEPA transfers. When a customer initiates a payment through our dashboard or API, our system automatically checks whether the receiving bank supports SEPA Instant payments.
- If the bank supports SEPA Instant, the payment is sent to the receiving bank within seconds.
- If the bank does not support SEPA Instant, the payment is sent via SEPA Credit transfer, which may take up to 24 hours to be delivered.
Why are not all SEPA transfers instant?
Why are not all SEPA transfers instant?
Over 36 countries and over 5,000 banks currently use the Single Euro Payment Area (SEPA) system. Many of these banks have old technology or are still not connected to the SEPA Instant system.When we send a SEPA Instant payment it takes around 10-30 seconds. Sometimes when the payment arrives at the receiving bank, they have internal processes to stop and review transactions before crediting the balance to their customers. This can take anywhere from several hours up to a full day.
Is there a different fee for SEPA Instant and SEPA Credit?
Is there a different fee for SEPA Instant and SEPA Credit?
No. Currently, we charge the same fee whether the transaction is instant or credit.
Is there a limit for SEPA Credit transfers?
Is there a limit for SEPA Credit transfers?
The SEPA Instant system has an upper limit of €100,000 per transaction. If you send a payment larger than this amount it will automatically be sent as a SEPA Credit transfer which can take up to a day to reach the receiver's bank account. SEPA Credit transfers have no maximum limits.
Can I sign up for a SEPA account if my company is not registered in Europe?
Can I sign up for a SEPA account if my company is not registered in Europe?
It is possible to open an account with Narvi and get a SEPA IBAN account even if your company is registered outside of Europe. You can reach out to support@narvi.com to see if we are able to onboard your company. It should be noted that opening accounts from outside of Europe may require additional time to verify your documents.
Can I receive and make payments outside of the EEA? Does Narvi provide SWIFT payments?
Can I receive and make payments outside of the EEA? Does Narvi provide SWIFT payments?
Our IBANs are set up for SEPA payments, which cover transactions within the SEPA Zone (including the European Economic Area and some non-member countries). However, if you need to handle global SWIFT payments in different currencies, we have a solution for that, too! Just contact our support team at contact@narvi.com to set up your global payments.
Does Narvi have daily limits for transactions or amounts?
Does Narvi have daily limits for transactions or amounts?
We don’t impose any daily limits on transactions or amounts. You’re free to transact as much as you need.
What is the processing time for SWIFT payments?
What is the processing time for SWIFT payments?
We currently have a manual process for sending funds in USD/GBP or other currencies to 150+ countries and receiving funds in EUR, USD and GBP. Payments are done via Narvi’s pooled bank accounts. The processing time for SWIFT payments is between 3 and 8 days. We are working on integrating SWIFT directly with all our clients' dedicated IBANs.
Can I track the SWIFT payment I sent? What do I do if my SWIFT transfer hasn't arrived?
Can I track the SWIFT payment I sent? What do I do if my SWIFT transfer hasn't arrived?
We've prepared a detailed guide explaining how to track a SWIFT payment, how to make sure the transfer won't be delayed, and what to do if you think something might have gone wrong with the funds you sent.
What does it mean when an incoming transaction is pending?
What does it mean when an incoming transaction is pending?
The pending status means we have received your transfer, and our compliance team is currently reviewing the payment. They might reach out to you directly if they need any additional information. Otherwise, they will approve the payment soon — usually within a few days.
Is an ACH payment the same as SWIFT?
Is an ACH payment the same as SWIFT?
ACH is a local payment method in the US. Generally speaking, when your customer in the US wants to pay a supplier outside the US, their bank will convert the payment from ACH to SWIFT and send the payment as an international wire. Most US banks are connected to the SWIFT network for international payments.
My customer in Brazil wants to pay my invoice, what details should I provide them?
My customer in Brazil wants to pay my invoice, what details should I provide them?
If you need to receive a payment from another business entity based in Brazil to your Narvi account, please email contact@narvi.com for instructions.
I have some regular PSPs or clients who want to send funds regularly; how can I receive funds via SWIFT?
I have some regular PSPs or clients who want to send funds regularly; how can I receive funds via SWIFT?
Our banking partner doesn't allow third-party funds. They want us to hold a KYC pack on all fund senders to our SWIFT accounts. If you have acquirers who want to send funds regularly, we can White-list them with our bank. To do this, you or they need to complete the onboarding process.
Will you be adding other currency accounts?
Will you be adding other currency accounts?
For now, we are supporting balances and transfers in euros. We are currently working on more extensive agreements with local banking partners to enable multi-currency accounts for major currencies at some point in the future.
I have some regular PSPs or clients who want to send funds regularly; how can I receive funds via SWIFT?
I have some regular PSPs or clients who want to send funds regularly; how can I receive funds via SWIFT?
Our Banking partner doesn't allow third-party funds — they want us to hold a KYC pack on all fund senders to our SWIFT accounts. If you have acquirers who want to send funds regularly, we can White-list them with our bank. To do this, you or they need to complete our onboarding process by clicking here. Contact our support if you need further assistance with white-listing certain senders.
Frequently asked questions
Managing your Narvi account
Can I have more than one SEPA IBAN?
Can I have more than one SEPA IBAN?
You can request additional IBANs under the same company name or open up separate accounts if you have multiple companies and businesses. You can access all your accounts from your dashboard via the dropdown menu at the top.
How can I change my phone number or email?
How can I change my phone number or email?
You can change your phone number and email — just update them on your dashboard. Go to Settings, scroll down to Security details, and click on "Change email." Follow the instructions from there. Please note that you’ll need to verify access to your current email address.
How can I change my phone number if I no longer have access to the old one?
How can I change my phone number if I no longer have access to the old one?
We can help you to change the phone number and retrieve access to your account. However, you will need to verify your ID. Please contact our support at contact@narvi.com. They will need the following information from you:
- Are you the only user of this account?
- What is the email address linked to your account?
- Have you completed the ID verification for your account?
- What is your current phone number?
- What is the new phone number you would like to use?
Can I hold cryptocurrency in a Narvi account?
Can I hold cryptocurrency in a Narvi account?
Our IBANs can only hold fiat currency. However, our Crypto OTC desk can receive cryptocurrency, convert it to fiat, and deposit it into your account.
How do I close my account and withdraw the remaining funds?
How do I close my account and withdraw the remaining funds?
To close your account, please send an email with a termination request to contact@narvi.com. Once the account is closed, you’ll be able to withdraw the funds directly from your dashboard. Please note that you can only withdraw the funds into another account in your name.
Can a closed account be reopened?
Can a closed account be reopened?
After your account is closed, your user credentials will remain active, and you can still log in to your account. If you need an account for a new company, simply click "Add New Business Entity." However, if you require a new IBAN for an existing company, this can only be done manually by sending a request to contact@narvi.com.
Affiliates/Partners
How do I invite clients via the Partner Portal?
How do I invite clients via the Partner Portal?
You can invite clients to Narvi directly from your Partner Portal dashboard. Simply click the "Refer a Company" button, and you’ll see two options: referral link or email invitation. You can either copy the referral link to send directly to your client or enter the email address and company name to send an invitation via email.
How do I claim commissions through the Partner Portal?
How do I claim commissions through the Partner Portal?
We are working on getting the instructions ready for you.
More questions?
Visit Narvi Help Center for detailed guidance on how to use your account — or reach out:
OFFICE OR MAILING ADDRESS
Narvi Payments oy AB
c/o Maria 01
Lapinlahdenkatu 16
00180 Helsinki
Finland
c/o Maria 01
Lapinlahdenkatu 16
00180 Helsinki
Finland
EMAIL US
- For general/customer support inquiries: contact@narvi.com
- For BaaS partnership opportunities: baas@narvi.com
- For White Label banking inquiries: whitelabel@narvi.com
- For affiliate partnership inquiries: affiliate@narvi.com