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Personal vs business accounts — which do I need?

Last updated on Jun 20, 2026

Moneybeat offers two account types:

Personal account

  • For individual customers
  • Requires KYC (Know Your Customer) verification
  • Ideal for everyday banking, personal transfers, and receiving payments

Business account

  • For registered companies and organisations
  • Requires KYB (Know Your Business) verification
  • Ideal for business payments, payroll, and supplier transfers

Not sure which to choose?

  • If you are banking as an individual, choose a personal account.
  • If you are representing a registered company, choose a business account.

You cannot use a personal account for business activity. If you need help choosing, contact us at support@moneybeat.eu.