Mo virtual accounts let you collect GBP payments directly from UK businesses and individuals using Faster Payments. No middle steps, no delays—money lands in your account and converts to USDC instantly.
What is a GBP Virtual Account?
A GBP virtual account gives you a unique UK bank account number and sort code. Businesses send you GBP via Faster Payments, and it arrives in your Mo wallet as USDC within minutes.
Your virtual account details:
- Account Number: Your unique Mo GBP account
- Sort Code: Banking routing for UK payments
- Account Owner: Your name on file
- Payment Rail: Faster Payments (5-30 minutes, 24/7)
How to Use Your GBP Virtual Account
- Activate: Set up your GBP virtual account in the Mo app or dashboard
- Share Details: Give your account number and sort code to anyone paying you
- Receive: Payments arrive via Faster Payments and convert to USDC
- Withdraw: Cash out to your bank, or keep USDC to earn yield
Settlement & Timeline
- Faster Payments: 5 minutes typical, up to 30 minutes for larger amounts
- 24/7 availability: Receive payments anytime (weekends, bank holidays, etc.)
- BACS fallback: Amounts over £1M GBP automatically settle via BACS (3 business days)
Minimum & Maximum
| Direction | Minimum | Maximum | Rail |
|---|---|---|---|
| Receive | £3 | £1M | Faster Payments |
| Receive | £1M+ | Unlimited | BACS (3 biz days) |
Why Virtual Accounts?
For businesses and contractors:
- Get paid in GBP, hold as USDC
- No bank account requirements
- Transparent fees (1% when you withdraw)
- Access your money globally
Good for:
- Freelancers with UK clients
- Digital agencies in EMEA
- E-commerce sellers collecting from Shopify/WooCommerce
- Remote teams receiving payroll from UK head offices
FAQs about GBP Virtual Accounts
Can I receive payments from any UK bank? Yes. Any UK bank can send you GBP via Faster Payments using your sort code and account number.
Are there fees? Mo charges transparent fees only when you withdraw. Receiving is free. See Mo Pricing.
How fast do payments arrive? Most payments settle in 5 minutes, never more than 30 minutes. BACS payments (if over £1M) take 3 business days.
Can I use this for business or personal payments? Yes. Mo virtual accounts work for both personal and business payments.
What if I receive more than £1M in a single transfer? Transfers over £1M automatically settle via BACS (3 business days) instead of Faster Payments for regulatory compliance.
Can I keep the money in USDC? Yes. You don’t have to withdraw to GBP. Hold USDC, earn yield with Mo Earn, or trade with Mo Trade.
Is there a limit to how much I can receive? No hard limit. You can receive unlimited GBP, but amounts over £1M in a single transfer use BACS instead of Faster Payments.
Next Steps
- Download Mo
- Verify your identity (KYC)
- Activate your GBP virtual account
- Share your details with payers
- Receive your first payment
Need help? Check Supported Countries & Compliance or reach out to support.
