About myPOS e-money account
The myPOS account is an e-money account that enables merchants to accept payments through all electronic channels: POS, online and mobile. The payments are instantly available in the account and because of the multicurrency feature, the merchant is able to accept and make payments in 10 different currencies. The myPOS account has a primary currency and a separate sub-account is opened for each currency. Each sub-account is issued an individual IBAN.
Depending on the country of registration of the business and the account currency, the myPOS account can have a UK or Bulgarian IBAN:
- The UK IBAN consists of: the country code (GB) - the check sum (2 digits) - the bank code (MPOS) - Sort code (009963) - the myPOS account number (8 digits)
Example: GB 12 MPOS 009963 12345678
- The Bulgarian IBAN consists of: the country code (BG) - the check sum (2 digits) - the bank code (INTF) - the myPOS account number (14 digits)
Example: BG 12 INTF 12345678901112
An additional feature of the myPOS account is its ability to work with multiple users. The merchant, as the account holder, is able to grant access to as many other users as is needed to run the business. The account holder is in full control over the access of those additional users, which can be restricted and limited only to certain features.
The myPOS account further enables merchants to transfer funds between accounts, in the same currency or in different currencies, as well as to make payments to other myPOS users or to any bank in the world.