Frequently Asked Questions

VirtuaBroker is a cross-border payments platform that lets businesses collect money locally in one market and pay out locally in another. We handle the currency conversion, compliance, and routing so your finance team can focus on running the business rather than managing bank relationships in every country you operate in.

Finance and operations teams at businesses that collect or pay across borders regularly — importers and exporters, marketplaces, travel operators, payroll teams, and anyone running suppliers or staff in more than one country. You do not need to be a payments company to use it.

Your incorporation documents, proof of the registered address, identification for the people who own or control the business, and a short description of the corridors you expect to use. We tell you exactly what is outstanding rather than leaving you to guess.

Most workspaces are live within a few business days once the documents are in. Complex ownership structures or higher-risk corridors take longer because the review is deeper, and we will tell you at the outset which of the two you are.

No. The dashboard covers the full lifecycle — deposits, conversions, payouts, and reporting — without a single line of code. The API is there when you want payments to run from your own systems, but it is an option, not a prerequisite.

Yes. Local collection accounts are opened in your entity's registered name, not in ours and not as a sub-account of a pooled balance. Your buyers pay a domestic account belonging to your business, which is why the payment behaves like a local transfer on their side rather than an international one.

We support local collection across Europe, the United Kingdom, Latin America, Africa, and parts of Asia, with more corridors opening as rails are added. Tell us where your money comes from and we will confirm what is available for your entity before you commit to anything.

You can hold a balance in the major settlement currencies and in most currencies we collect in. A handful of markets have local rules that require funds to be converted or paid out within a set window, and the dashboard flags those before you receive into them.

Holding leaves the money in the currency it arrived in, so your exposure to that currency stays open. Converting fixes the rate at that moment and moves the value into another currency. Both are explicit actions in the dashboard — nothing is converted automatically without you asking for it.

Yes. Each entity gets its own workspace with its own accounts, balances, and permissions, and you can move between them from a single login. Reporting stays separate so each entity closes its own books.

A local one. They see domestic account details in their own market and pay using the method they already use every day, at domestic cost and domestic speed. Nothing about the payment tells them the money is about to cross a border.

It depends on the corridor. Some routes settle within hours; others take a working day or two. We show you the expected timeline before you confirm each payment, and you can track progress from your dashboard. The main variable is the local clearing system in the destination country, not anything on our side.

A bank wire hops through correspondent banks, and every hop adds a queue, a cut-off, and a fee. We collect locally at one end and pay out locally at the other, so the money moves on domestic rails in both markets and only the settlement between them is ours to handle.

The funds return to your balance and the order shows the reason it was rejected — usually a mismatched account name, a closed account, or a missing reference. You fix the detail and resend; you are not left calling a bank to find out what happened.

Yes. You can upload a batch of payouts, review the totals per currency before anything leaves, and schedule the run for a future date. Payroll and supplier runs are the two cases this was built for.

Yes. Roles are configurable per workspace, so the person who prepares a payment does not have to be the person who releases it, and you can require a second approval above a threshold you set. Every action is recorded in the audit log.

We charge a transparent fee per payment and apply a small margin to the exchange rate. Both are visible before you confirm. There are no monthly platform fees, no setup charges, and no hidden costs. The price you see at the point of conversion is the price you pay.

We quote from live interbank rates and show the margin we apply on the same screen, alongside the exact amount your recipient will receive. The quote is held long enough for you to decide, and if it expires you get a fresh one rather than a surprise.

No. Payouts land through local rails as domestic transfers, so there are no correspondent deductions along the way. The amount you confirm is the amount that arrives.

There is no minimum to open an account. Pricing improves as volume grows and by corridor, so if you are moving significant amounts on a single route it is worth asking us for terms rather than taking the standard rate.

Yes. VirtuaBroker operates under its own regulatory licences and works with regulated financial partners, providing an additional layer of compliance and security across our payment services. Our Regulatory Information page sets out the company and compliance detail behind that.

Funds are held in safeguarded accounts, segregated from our own operating money, and are never lent out or used to fund our business. Balances are reconciled daily against what the platform says you hold.

Every recipient is screened against sanctions and watchlists, and payout details are validated against the destination market before the payment is released. Screening runs on every order, not only the first one, because the lists change.

Enough to know who we are dealing with: the corporate structure, the people who own or control the entity, the nature of the trade, and the corridors you expect to use. For some corridors we also ask for evidence of the underlying transaction, such as an invoice or a contract.

We cannot serve sanctioned jurisdictions, and there are sectors we do not onboard, including gambling, adult content, arms, and unlicensed financial services. If your case sits near a line, ask us early — a direct answer at the start costs you less than a rejection after onboarding.

Every account is protected by two-factor authentication, and we enforce role-based access so you control exactly who on your team can view balances, initiate payments, or approve transactions. All data is encrypted in transit and at rest, and we maintain audit logs for every action taken on the platform.

Yes. A REST API with webhooks covers accounts, quotes, orders, payouts, and reconciliation, so payments can run from your own systems end to end. The documentation and a sandbox are available before you sign anything.

You can export statements and transaction reports in the formats accounting systems expect, and the API exposes the same data if you prefer to sync it automatically. Every entry carries the reference you sent it with, so reconciliation is a match rather than a hunt.

A named contact who knows your corridors, reachable by email or on a call, plus a support team for day-to-day questions about payments in flight. You are not routed into a queue and asked to explain your setup from scratch each time.

We process it to run your payments and to meet our regulatory obligations, and for nothing else. We do not sell it or share it for marketing. Our Privacy Policy sets out what we keep, for how long, and how to ask for a copy or a deletion.