/ About

Frequently Asked Questions


What is Worldclearing?

1. What services do you offer to potential clients?

Worldclearing is a payment platform which offers diversified and unique solutions for your payment needs. With us, you will receive a personalised IBAN number, Prepaid Mastercard for both individuals and corporations, utilize Instant Payments either via Bank Transfer or via Visa/Mastercard, an Invoicing service for corporate clients, pay bills via BG/PG, as well as the possibility to send and receive global payments. We also offer card processing integration for companies with websites, whereby their customers can pay for products and services with both debit and credit cards with the final settlements to the company’s Worldclearing account.

2. In which currencies can I open an account?
Besides our default currency of EUR, clients can have additional sub-accounts in the following currencies: SEK, GBP, DKK, NOK and USD.

3. Are clients required to visit the facility?
No, the entire process of applying for an account with us is completed online. Our services are easily accessible online therefore you can manage your account without having the need to visit a branch.

4. Do you work by referrals only or directly with the general public?
We accept clients from both channels.

5. Who can open an account with Worldclearing?
We welcome all European Economic Area (EEA) residents who are at least 18 years old.

6. What if I no longer want to use your service?
You can cancel your account by simply sending an internal message stating that you wish to do so. The account will be closed on the same day and you will no longer be able to log in. Along with your current account, any cards issued will be closed. Please destroy your Mastercard to protect yourself from fraudulent use.
Please ensure that you have transferred any remaining funds prior to sending a request for account closure.

Account Opening – Business Account

1. Do you accept applications for all kind of companies and jurisdictions, or do you focus on specific areas/kind of activities?
We only accept applications from legal business entities incorporated in any of the countries belonging to the Single European Payments Area (SEPA).
At Worldclearing, we are not allowed to transfer funds to the following countries:

  • Belarus – BY
  • Burundi – BI
  • Central African Republic – CF
  • Congo (Democratic Republic of) – CD
  • Cote d’Ivoire / Ivory Coast – CI
  • Cuba – CU
  • Iran – IR
  • Iraq –IK
  • Korea (Democratic People’s Republic of) – KP
  • Lebanon – LB
  • Libya – LY
  • Moldova – MD
  • Myanmar – MM
  • Serbia – RS
  • Somalia – SO
  • South Sudan – SS
  • Sudan – SD
  • Syria – SY
  • Venezuela – VE
  • Yemen – YE
  • Zimbabwe – ZW

2. What kind of documentation is needed to open a corporate account?
To open a corporate account, companies are required to provide their business description as well as the following documentation:

  • Copy of a valid ID and a proof of residence (not older than three months) for each ultimate beneficiary owner (individual).
  • Certificate of incorporation (a document issued to every company upon registration which proves that the company is in existence. It includes the company name, company number, date of incorporation and jurisdiction of incorporation. This certificate is usually required by banks when opening a business bank account.)
  • If the company is owned by another legal entity (company), please provide the certificate of incorporation and a valid copy of ID and a proof of residence for the director of this company-ultimate beneficiary.
  • Copy of share registry that certifies all the shareholders of the company.
  • Memorandum of understanding of the entity.
  • Latest annual audited accounts and annual return for the company applying for an account, if applicable.
  • If the company has already been trading, please provide bank account statements with transactions for the past 3 months.

3. Do you require the company’s director to be a UK resident?
No, the company’s director must not be a resident of the UK, however they must reside within any of the EEA countries.

4. Does one require a minimal turnover or deposit amount to open an account?
No, it is not a requirement for our clients to have either of these two to open an account.

5. What fees are charged when opening a business account with Worldclearing?
The regular set-up fee for a business account is € 950. Please contact your agent for any applicable discounts. Please be advised that this amount includes the administration costs for opening a corporate account, allocating a personal IBAN number and the price for a Prepaid Mastercard. A monthly fee of € 29,77 is charged thereafter for account maintenance.

6. When is this amount due?
After submitting your application, an invoice with the set-up fee will be sent once we confirm that your application has been approved. You have 14 days to settle the invoice otherwise you lose access to your account.

7. How do I pay my invoice?
We offer three options when it comes to settling your invoice. These are:

  • Card payment
  • Direct bank transfer
  • SEPA transfer

The most convenient method is either by card payment or direct bank transfer.
Once you open the invoice, please click on the payment link that is located at the top of the invoice. This will lead you to the payment site where you can easily pay for your invoice.

8. What occurs if an application is rejected?
If your application is rejected, you shall be informed as soon as possible.

Personal Account

1. How do I apply for an account at Worldclearing?
Please use the following link to apply for a private account: https://ib.worldclearing.org/client-registration/ Please contact your agent if they have a special registration link with Worldclearing.

2. What are the fees associated with account opening?
We charge a regular set-up fee is € 197. Please contact your agent for any applicable discounts. Please note that this fee includes the administrative costs for account opening, allocation of a personal IBAN and the price for a Prepaid Mastercard. A monthly fee of € 3,77 is charged thereafter for account maintenance.

3. What are the documents required to open an account?
To open an account with us, you must provide a valid copy of identification and proof of residence. The ID should clearly state your name, date of birth, expiry date, ID number and issuing authority. Acceptable IDs are: passport, national identity card, driving license, armed force ID, police warrant card, NHS staff ID, HMRC staff ID, immigration application card. The proof of residence must be issued by a local authority within the past three months. This could be a utility bill, home insurance certificate, bank statement, letter from a university, vehicle registration document etc.


1. What actions do I take if I have forgotten my username?
If you cannot recall your username, and the email address you are using to contact us does not match with that on your client profile, we can disclose your username depending on the following circumstances:

  • If the account is in use (transactions are recorded), we will call the mobile number registered in your profile and ask security questions. Once we have verified your identity, the username will be disclosed.
  • If the account is not yet in use, you will be required to attach a copy of passport in an email to support@worldclearing.org to verify your identity.

2. How can I change my log in information?
The email address you used when applying for an account acts as your username. Since each username is unique to a client profile, it is impossible to change once an account has already been created.
If you choose to change your password, you can do this from your profile at your Back Office by selecting the Password tab.

3. Is my account safe?
Worldclearing is registered by the Financial Conduct Authority and fully complies with the regulations, furthermore our system is built around the most advanced technology to safeguard your data and funds.
When creating a password, we recommend one that has a minimum of eight digits, contains both lower and upper-case letters, numbers and signs. Please note that you will be required to use your password to sign and approve your payments.

4. How do I change my profile details?
For security purposes, you cannot alter the details on your profile. If you wish to update your details, please write to us either via internal message or to our support email with the details of what you would like to change. If you wish to update your address, please enclose an updated proof of residence to the message.


1. What methods of payment do you offer?
For incoming transfers, our clients can fund their accounts with the following deposit options:

  • Instant transfer from Visa/Mastercard
  • Direct deposit via Instant Banking
  • SEPA Payments
  • International Bank Transfer

On the other hand, clients can select any of the following methods to make payments from their accounts:

  • Transfer between own accounts
  • Transfer to another user
  • SEPA transfer
  • International bank transfer
  • BG PG (Sweden only)

2. In what country is the IBAN based in?
Worldclearing cooperates with Prepaid Financial Services Ltd, located in Ireland for the issuance of IBAN numbers. Upon successful completion of opening an account with us, you will receive an IBAN that will consist of the country code (IE) – checksum (two digits) – BIC code (PFSR) – sort code (six digits) and account number (eight digits).

3. What are the full bank details for receiving incoming payments?
The bank account coordinates used depend on the type of incoming payment you wish to receive.
Your personal IBAN number can only receive SEPA Payments. For this transaction, please use the following details:

  • Bank Name – Prepaid Financial Services Ireland
  • Bank Address – ½ Market Square County Meath, Navan, Ireland

For incoming payments from outside the SEPA region (international bank transfers), please contact us for more information.

4. What is a SEPA Payment?
SEPA is short for Single European Payment Area. This type of payment allows one to transfer amounts in euros to participating financial institutions in the EEA. Simply put, it is a low-cost international bank transfer in euros.

5. Why should I select SEPA over an International Bank Transfer?
SEPA is a low-cost and simpler option compared to international transfers for payments in euros. With SEPA payments, the transfer is processed within 24 hours and it costs less than an international payment.

6. Why has my SEPA Payment been delayed?
SEPA payments are usually processed between 1-2 business days. To ensure that you receive your incoming funds in a timely manner, confirm that:

  • The payment was made to the correct IBAN and BIC.
  • The payment was performed from a bank located in the SEPA region.
  • The payment was performed in euros
  • The payment was sent as a non-urgent payment (express payments will be automatically converted to international payments and our bank will reject it)

7. What are the restrictions (if any) of how much funds can be held for a client and for how long?
We do not have a limit on the amount of funds a client wishes to hold on their account. However, all inbound payments above € 5.000 or equivalent in another currency must be accompanied with documentary evidence such as invoices, purchase orders, contracts, etc. that verifies the basis of the payment.


1. What type of card do you offer?
Once you have settled your set-up fee, you can place your order for a Prepaid Mastercard that will be connected to your account.
A prepaid card is a card that is pre-funded and can be recharged when required. You are allowed to only spend the amount on the card’s actual balance and not more.
Our cards can be used for internet purchases as well as at ATMs or POS terminals that accept Mastercard.

2. In what currency is the prepaid card?
The default currency of our prepaid cards is euros. The card can be used for transactions in other currencies however additional fees apply.

3. What name appears on the card?
When you place your card order, you have two options to choose from:
You may either select a “no name” Mastercard. In this case, instead of your name the card will show VIP CARDHOLDER or you may choose to have a Personal Mastercard in which the client name, company name or both names will be embossed on the card’s surface.

4. How do I place the Mastercard order?
Once we confirm payment of your set-up fee, you may place your card order by simply sending an internal message, telling us of your preferred card choice. Please note that our policy permits our clients to have only one active card per time, therefore you can only order for one Mastercard.

5. Can the card be shipped to any address?
The card can be shipped to either the client’s home address or company’s address, depending on their preference.
The card is shipped at no extra cost via First-Class mail, however if you wish to have it couriered it will cost you € 60.

6. How do I activate my card?
You are required to activate your card as soon as you receive it. Follow the instructions on the letter that comes enclosed with the card. In the event the SMS option fails, please call any of these numbers: +44 203 327 1991 or +44 203 468 4112 or +44 207 183 2248. You will reach the IVR, where you will need your 16 digits of the card and your date of birth.

7. How do I recharge my prepaid card?
You can load your card via an internal transfer from any of your Worldclearing accounts.

8. Can the prepaid card be loaded via bank transfer or any third-party transfers?
Third party transfers are not permissible. The card can only be loaded internally from your Worldclearing Back Office.

9. What is the limit for my Mastercard?
The limits associated to your MasterCard are as follows:

  • Daily cash withdrawal limit – € 1000
  • Maximum POS daily limit – € 5000
  • Maximum card loading deposit amount daily – € 6000
  • Maximum number of card loadings per day – 3

More information on the fees and limit schedule are found in your profile, in the Information tab once you have logged into your Back office.

10. Can I request for a change in the limit?
Unfortunately, it is impossible to adjust the card limits as the card program is set-up and approved by Mastercard.

11. Why has my card been declined yet I have sufficient funds and the merchant accepts Mastercard?
In order to protect you and us from fraud, your card needs to be pre-authorised before a transaction goes through. If your card is declined at a non-face-to-face POS, for example at an auto fuel dispenser, it is because it failed to pre-authorize. It is better to present your card to the station attendant rather than pay at the pump.


1. Can I borrow a loan?
We are not a credit facility and for this reason we cannot grant any loan or advance requests. Issuance of loans is not possible to any of our clients regardless of the amount. The same applies to requests for credit funds on the Mastercard; it is impossible.

2. How do I link PayPal to my account?
Your IBAN number serves as your primary account number, therefore when linking your PayPal account, please use the personal IBAN assigned to your profile for this purpose. Once the two accounts are connected, a nominal deposit from PayPal will be made to your IBAN for account confirmation. You will receive a notification from us on the details of the amounts deposited.

3. Do you disclose client transactions to the tax authority?
We do not make any report ourselves, however if the relevant tax authorities make such requests, we will provide all the information to our fullest knowledge we have on the client including their transaction history.


Instruction Video for How to Log In:
Instruction Video for Managing your Accounts:
Instruction Video for Deposits by Card:
Instruction Video for Instant Banking:
Instruction Video for Deposit Voucher:
Instruction Video for Deposit Notification:
Instruction Video for General Transfer Information:
Instruction Video for Transfer Between Own Accounts:
Instruction Video for Transfer to Another User:
Instruction Video for International Wire Transfers:
Instruction Video for SEPA Bank Transfers:
Instruction Video for Information Tab:
Instruction Video for Client Profile:
Instruction Video for Message Tab:
Instruction Video for Invoice Function:

Worldclearing Limited is a United Kingdom company.  Main Office: 24th Floor The Shard, 32 London Bridge Street, LONDON SE1 9SG, UNITED KINGDOM. Registered office Address: S1b Abbey Mannor Business Centre, Preston Road, Yeovil, Somerset, BA20 2EN, UNITED KINGDOM.

Worldclearing Limited is authorized and regulated by the Financial Conduct Authority (FCA) as an agent of Prepaid Financial Services Limited.

Registration number at Financial Conduct Authority in United Kingdom 900630.

Swiftcode: WOREGB21

Mastercard and the Mastercard Brand Mark are registered trademarks of Mastercard International Incorporated. Visa is a registered trademark of Visa International.

The WORLDCLEARING Prepaid Mastercards are issued by Prepaid Financial Services Limited pursuant to a license from Mastercard International Incorporated.