Stay safe from fraud and scams
Banking Circle is regulated and supervised by The Commission de Surveillance du Secteur Financier (CSSF), Luxembourg.
We process more than €1.5 trillion in value for over 850 regulated financial institutions worldwide. Enhanced due diligence underpins our client relationships, supporting their delivery of regulated services in line with applicable legal and regulatory obligations globally.
If you have concerns about a payment or suspect fraud, we recognise how stressful this can be. Although we do not have a direct relationship with you or provide accounts to individuals, we’ll provide guidance on how to proceed and direct you to the appropriate institution for support.
How Banking Circle Works
Banking Circle is a regulated business to business (B2B) bank. We provide accounts, foreign exchange and payment infrastructure to financial institutions, payment service providers (PSPs), companies and marketplaces – not to private individuals.
Learn more about:
Our role in payments
How PSPs work
Why Banking Circle may appear on your bank statement
Sometimes our name appears on your bank statement because your bank, PSP or merchant uses our payment infrastructure (including virtual IBANs) to route payments securely and quickly. This means we power the movement of funds; we don’t hold your personal account or manage your money directly as we do not service individuals.
Understand why Banking Circle may appear on your statement: Understanding Virtual IBANs
We can
Identify the Banking Circle client linked to a virtual IBAN and forward your case to them; cooperate with law enforcement and relevant authorities; and help you understand the payment chain.
We cannot
Access end customer transaction details, access your funds, or issue refunds directly, because payments are processed for our business clients and the account relationship sits with your bank/PSP or merchant.
Please note that we are not able to discuss fraud-related queries via social media.
If you suspect fraud: act fast
It is important to act fast, please follow these steps:
01
Contact your bank, building society or payment processor immediately
Tell them about the transaction and ask for a recall or raise a dispute. They have direct visibility of your account and can act faster.
02
Cease contact with the Scammer
Stop all communications immediately. The scammer may provide contact information for support, this is likely part of the same scam therefore cease all communication.
03
Report to the police
Report the matter to the police or the respective fraud/scam support agency in your jurisdiction where applicable.
04
Reach out to us
If your bank or processor cannot assist, reach us via our contact form.
Include the payment date(s), amount(s), reference/IBAN, merchant name and any relevant screenshots or correspondence.
We aim to reply within 5 business days. Some cases take longer if we need to liaise with the PSP or account issuer.
If necessary, you can escalate through our complaints process using the same contact form.
FAQ
Why is Banking Circle on my bank statement?
Banking Circle provides payment infrastructure to businesses like PSPs. If our name appears on your statement, the institution through which you have transacted has routed your payment via ourselves.
Does Banking Circle hold my money?
No. Banking Circle does not hold funds for individuals. Your money is managed by the PSP or merchant with which you hold the account.
Can Banking Circle block a transaction or return my money?
Unfortunately, no. We only process payments for our clients and cannot intervene in individual transactions unless instructed by the PSP prior to the payment(s) being made.
What should I do if I think I’ve been defrauded?
Contact your Bank or PSP immediately. They will communicate directly with the PSP who is acting as the beneficiary Bank in the payment. You should also report the matter to the police, or local Fraud / Law enforcement agency, who can request details from us at reportfraud@bankingcircle.com.
Is Banking Circle a legitimate bank?
Yes. Banking Circle S.A. is a regulated bank based in Luxembourg and supervised by the CSSF along with regulated branches in the UK and Europe, all of which can be found on our website. We operate globally to support businesses, not private individuals. Our global offices are not branches who are able to receive private individuals.
