Frequently Asked Questions
General
What is Vbanq?
Vbanq is an online banking platform with crypto capabilities. It connects different banks within a single interface, allowing you to manage various fiat and cryptocurrencies with just a few clicks.
Who is Vbanq for?
Vbanq currently serves businesses only. However, we plan to offer solutions for individuals in the future.
Which fiat currencies are available at Vbanq?
Currently, Vbanq supports CAD, USD, EUR, and INR.
Which cryptocurrencies are available at Vbanq?
We support both stable and non-stable coins:
- Stable coins: USDT (ERC-20, TRC-20), USDC (ERC-20)
- Non-stable coins: BTC, ETH
Is Vbanq licensed?
Yes, Vbanq is part of a holding group with various licenses, including:
- Czech and Lithuanian VASP (Virtual Asset Service Provider) licenses in the EU
- Partnering with infrastructure providers holding MSB (Money Service Business) licenses in Canada and the US
Accounts and Verification
How can I get a Vbanq account?
To get a Vbanq account, visit https://vbanq.charism.ai, create an account, complete the KYB (Know Your Business) process—which includes filling out a questionnaire and uploading the required documents—and pay the setup fee. Afterward, your application will be reviewed by our compliance team.
What happens if my application is rejected by compliance?
While Vbanq has only a 2% rejection rate, if your application is rejected, we refund 50% of the setup fee you paid.
How long does the application review take?
We operate under an SLA of 48 hours for each document review. This timeframe excludes the time taken by you to provide the required documents. Typically, there may be one or two additional requests for information, though most applications require only one. Occasionally, Enhanced Due Diligence (EDD) may extend the review period.
Will my accounts be named?
At present, all accounts are pooled, meaning they do not carry your company’s name. However, you can request an account confirmation letter from our support team, which verifies that the account credentials belong to you.
Billing and Fees
How can I pay the setup fee?
You can pay the setup fee using cryptocurrency or a credit/debit card.
Do you have monthly fees?
Yes, monthly fees are charged automatically. The first month is free of charge, and subsequent fees are collected on your onboarding date each month.
Do you have a monthly minimum?
No, we do not have a monthly minimum.
What happens if I don’t pay the monthly fee?
If your account lacks sufficient funds to cover the monthly fee, your account will be frozen.
How am I charged for transactions?
| Business / Enterprise | Description | |
|---|---|---|
| Set Up Fee | $795/$1295 | Paid once the KYB questionnaire is completed and documents are uploaded. |
| Monthly Fee | $245/$495 | Paid monthly, with the first month included in the Setup Fee. The amount is automatically deducted from the account each month on the date of onboarding. |
| Incoming Transactions | 0 | Free of charge for both crypto and fiat. |
| Outgoing processing fee | 0.2% | Applies to all outgoing fiat transactions. |
| SWIFT | $35 | Applies to all outgoing SWIFT transactions, in addition to the processing fee. |
| Fedwire | $25 | Applies to all outgoing Fedwire transactions, in addition to the processing fee. |
| SEPA | $5 | Applies to all outgoing SEPA transactions, in addition to the processing fee. |
| ACH | $0.5 | Applies to all outgoing ACH transactions, in addition to the processing fee. |
| Fiat/Fiat Exchange | 3%/2% | USD to fiat and vice versa: the fee is deducted upon the exchange transaction. |
| Fiat/Crypto Stable | 2%/1.5% | USD to crypto (stable and vice versa): the fee is deducted upon the exchange transaction. |
| Fiat/Crypto Non-Stable | 3%/2% | USD to crypto (non-stable and vice versa): the fee is deducted upon the exchange transaction. |
Account Funds
What can I do with the funds in my Vbanq account?
You can store, exchange, receive, and send funds.
Do you charge for incoming transactions?
No, incoming transactions are currently free of charge.
How can I deposit funds into my Vbanq account?
You can deposit funds via:
Fiat (Incoming):
- USD: SWIFT (C2B and B2B)
- USD: ACH and Fedwire (C2B and B2B; available for US-based companies only)
- CAD: EFT (C2B and B2B; auto-converted to USD upon receipt)
- EUR: SEPA (C2B and B2B)
- INR: NEFT and IMPS (C2B and B2B)
Crypto:
- BTC, ETH, USDT (ERC-20, TRC-20), USDC (ERC-20)
How can I withdraw funds from my Vbanq account?
You can withdraw funds via:
Fiat:
- USD: SWIFT (B2C and B2B)
- USD: ACH and Fedwire (B2C and B2B; available for US-based companies only)
- INR: NEFT and IMPS (B2C and B2B)
- EUR: SEPA (B2C and B2B)
Crypto:
- BTC, ETH, USDT (ERC-20, TRC-20), USDC (ERC-20)
Which exchange capabilities are available?
USD to Crypto (Stable) and vice versa:
- USD/USDT (ERC-20, TRC-20)
- USD/USDC (ERC-20)
USD to Crypto (Non-Stable) and vice versa:
- USD/BTC
- USD/ETH
USD to Fiat and vice versa:
- USD/EUR
- USD/INR
- USD/CAD
Note: All exchanges are conducted through USD. For example, to exchange USDT (TRC-20) to EUR, you must first exchange USDT (TRC-20) to USD, then USD to EUR.
Restrictions
What is not allowed at Vbanq?
We cannot serve businesses from sanctioned countries or Ukraine, businesses whose UBOs (Ultimate Beneficial Owners) have residence permits in sanctioned countries or Ukraine, or businesses involved in gambling, betting, or adult activities.
For the full list of restrictions, please refer to []. Note that the list is not exhaustive.
What if I am a UBO with a sanctioned nationality?
Our restrictions apply only to UBOs currently residing in sanctioned jurisdictions. For example, if you hold a "sanctioned" or "restricted" passport but reside and hold a residence permit (or equivalent document) in a non-sanctioned country, you may apply for a Vbanq account.