Free business account for real-time funds access

Мanage your sales, card machines, and payment cards on the go 24/7

Open a free account

Beyond a simple business account

The myPOS business account is a free multi-currency е-money account with an IE IBAN* where your funds from card payments are settled. It also gives you robust management capabilities through the online platform or the myPOS App - real-time control of your card machines, payment cards, sales outlets, product and customer lists.

* Payments and E-money services are provided in the EEA by myPOS Ltd, an Electronic Money Institution authorised and regulated in Ireland by the Central Bank of Ireland, license number C475122.

What is an online business account?

A business account is a dedicated account for sole traders, companies, partnerships, charities or organizations. An online business account functions just like a traditional business bank account but allows the management of finances digitally through an online platform.

Establishing a company requires a business account. Moreover, you need one if you wish to start processing card payments via card machines or online platforms.

With myPOS, you receive a free e-money merchant account in 12 currencies. myPOS is a financial and electronic money institutions which have the right to issue and use electronic money. E-money is the fastest, easiest and most secure way to send or receive money with minimal fees through your online account at any time and at any place.

How long does it take to open a business account?

Opening a myPOS account is entirely online. The time for this can vary depending on your business structure and the nature of your activity. Nonetheless, myPOS offers a straightforward onboarding process if all required documents and information are accurately provided. All a merchant has to do is fill out a business account application form and leave the rest to the myPOS team.

Steps to open a myPOS business account

Apply online with just a few taps

Apply for a business account by signing up online for free.

Sign up
Download the myPOS app and go through a brief identification.
Complete the merchant verification process

Benefits of the myPOS business account

Discover the power of a myPOS business account for better financial management and business growth

Accept various payment methods

Business current accounts allow you to process card payments both through card machines and online platforms. Funds from these transactions are directly deposited into your myPOS account, allowing you to promptly cover your business expenses.

Flexible funds management

Use the myPOS account as your main account to easily manage your spending. Make SEPA instant or SWIFT transfers to service providers or other bank accounts. Send instant transfers to other myPOS users or move funds between your multicurrency accounts.

Enhanced financial management

You get high transaction limits and can set up multiple users with different access levels. Download your statements as PDF, Excel, CSV, MT940 to simplify your bookkeeping. Use the card spending feature with transaction categorization to get an overview of your and your employees’ spending.

Access to key services

Benefit from reporting tools and comprehensive sales tracking designed to provide you with invaluable insights into your business operations. You also qualify for а business debit card, allowing you to make convenient purchases and cash withdrawals as needed.

Why choose myPOS for opening a business account?

Enjoy free access to the extensive myPOS business platform, which provides a wide array of value-added services.

No account fees or binding contracts

With myPOS, there are no hidden fees. Unlike traditional banking services, we don‘t burden small businesses with mandatory monthly fees and long-term contracts.

Free business card

As a myPOS business customer, you receive a complimentary business card to access your funds immediately. Add your card to Apple Pay or Google Pay to speed up your in-store or online checkout.

Need multiple cards? No problem! Easily order additional cards through your online business account or mobile app.

Multi-currency business account

Take advantage of a versatile multi-currency business account that enables you to accept international payments in all EEA currencies incl. GBP and CHF, and effortlessly transfer funds between your accounts.

Online payment solutions

Gain access to all myPOS tools for accepting online payments, such as myPOS Online, myPOS Checkout, Payment Request, Payment Tag, PayLinks and PayButtons.

Instant access to your funds

Whether you process card transactions through your card machine, mobile app or online payment gateway, funds are deposited into your myPOS account within seconds without any extra fees.

Additional services

Enjoy a variety of services, such as mobile top-up, AppMarket with business applications, custom branded and digital POS receipts, customised invoices and worldwide ATM withdrawals.

Unlock the power of your account with the myPOS app

Access your business on the go with the free myPOS mobile app, which offers everything your web account has.

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Accept card payments by generating payment links, QR codes or through the МО/ТО virtual terminal.

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Easily create and send invoices to customers straight from your mobile phone.

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Move funds between your accounts, send instant transfers to other myPOS users, make SEPA instant and SWIFT payments.

Unlock the power of your account with the myPOS app

Activate and deactivate card machines remotely and track transactions per device.

Customise shortcuts to your favourite functions, all conveniently located on your business dashboard.

Set limits and enable optional push notifications to stay updated on account activity.

Get real-time account balance checks, detailed flowcharts, and sales and transaction history analysis.

Your money is safe

The myPOS accounts are provided by an electronic money institution authorized and regulated by the Central Bank of Ireland.

As а myPOS client, your money is kept in designated, safeguarded accounts that are set up and operate in compliance with our regulators’ specific requirements. Your money is kept in so-called segregated accounts, which guarantee the inviolability of client funds and do not allow their use as financial resources for lending or investment. We hold these accounts with eligible banks which are also approved by regulators. The designation, structure and operation of these accounts provide important protections for you, ensuring that your money is safe and available to you.

FAQs

Your questions answered

Who can apply for a myPOS business account?

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myPOS is dedicated to helping businesses of all sizes, whether you are a start-up, one-man-show or a larger enterprise. Of course, certain eligibility criteria apply. To sign up for a business account with myPOS, you need to be self-employed, a sole trader, a limited company or an LLP registered with Companies House.

How can I identify myself?

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The Identity Verification is a brief online process required by myPOS to confirm the merchant's identity. To complete it, you'll need to have a valid passport with a photo or a driver's licence (copies are not accepted). Additionally, you'll require the myPOS mobile app and a reliable Wi-Fi or data connection.

Are there any fees associated with the myPOS business account?

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myPOS is a transparent payment platform designed for small business owners with no hidden fees. No setup or monthly fees are associated with the business account or any other myPOS services. The only costs you'll incur are small transaction fees, which are charged only upon successful payment acceptance.

Do I need a myPOS account before I purchase a myPOS card machine?

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You don't need to have an account with myPOS before purchasing a card machine from us. However, you will need one to accept card payments on the device. All funds accepted through the myPOS platform — whether it's a myPOS card machine, tap to pay with myPOS Glass, or an online payment service — will be deposited instantly into your account.

Open your online business account with myPOS today!

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