ClearBank

Cloud-native clearing bank API providing multi-currency accounts, real-time clearing access, and embedded banking.

About ClearBank

ClearBank is a cloud-native clearing bank offering fully regulated banking infrastructure and real-time payment settlement via modern REST APIs. Authorized in the United Kingdom by the PRA and FCA, and across Europe via a full European banking license, ClearBank provides institutional-grade core banking services.

The platform operates without legacy technology constraints, hosting its core banking architecture entirely on public cloud infrastructure. Financial institutions, fintechs, and multinational platforms use ClearBank to open operational and customer-segregated accounts, generate virtual IBANs, and connect directly to UK and European payment clearing networks.

Key Features

Direct Clearing Connectivity: Direct participant access to UK Faster Payments, CHAPS, Bacs, and European SEPA payment rails.
Virtual IBAN Architecture: Real-time generation of addressable virtual IBANs linked to master settlement accounts for automated reconciliation.
Multi-Currency Accounts: Programmatic multi-currency balance management and foreign exchange capabilities under a single structure.
Segregated and Client Money Accounts: Regulated account structures designed for payment institutions, e-money providers, and CASS 7 compliance.
Confirmation of Payee: Automated recipient verification to prevent fraud and reduce misdirected payments.
Cloud-Native Resilience: Infrastructure featuring zero-second scheduled downtime and automated failover systems.

Pricing

Enterprise Clearing & Banking: Custom pricing/billing basis ClearBank provides customized pricing models based on account types, settlement volume, payment rails, and regulatory status.

Use Cases

Clearing high-volume consumer and business payments through Faster Payments and CHAPS
Generating virtual IBANs for multi-tenant automated payment matching and reconciliation
Safeguarding funds for authorized payment institutions and electronic money institutions
Facilitating multi-currency treasury operations across UK and European jurisdictions

Pros & Cons

Pros:

Full clearing bank status with direct central bank reserve access
Modern cloud architecture designed for high availability and zero scheduled downtime
Dual UK and European Union banking licenses for multi-region compliance

Cons:

Geared towards regulated institutions and mature enterprises rather than early-stage startups
Pricing and onboarding criteria are customized and not published publicly

Integrations

Faster Payments, CHAPS, Bacs, SEPA, Bank of England, European Central Bank, Microsoft Azure

FAQ

Is ClearBank a licensed bank?

Yes, ClearBank holds a full banking license in the UK authorized by the PRA and FCA, as well as a full European banking license under ECB supervision.

What clearing rails does ClearBank support?

ClearBank provides direct clearing access to UK Faster Payments, CHAPS, Bacs, and European SEPA payment systems.

What are ClearBank Virtual IBANs?

Virtual IBANs are unique account identifiers created via API that route funds directly to a primary physical account, simplifying automated reconciliation.

Where are customer funds held with ClearBank?

GBP deposits are held securely at the Bank of England, providing balance security and complete operational segregation.

Does ClearBank support Confirmation of Payee?

Yes, ClearBank provides Confirmation of Payee APIs to verify recipient account details before initiating payments.

What kind of businesses use ClearBank?

ClearBank serves building societies, digital banks, fintechs, electronic money institutions, and major software platforms requiring direct clearing access.