Newrails

About Newrails

We allow onboarding onto the Newrails app from the following countries with the exception of :

Afghanistan
Antarctica
Belarus
Burundi
Central African Republic
Comoros Islands
Cuba
Democratic Republic of the Congo
Equatorial Guinea
Eritrea
Ethiopia
Haiti
Iran (Islamic Republic)
Iraq
Lebanon
Libya
Mali
Myanmar
Nicaragua
North Korea
North Sudan
Russian Federation
Somalia
South Sudan
Syrian Arab Republic
Tajikistan
Turkmenistan
Venezuela (RB)
West Bank and Gaza (Palestine)
Yemen (Republic)
Zimbabwe

Onboarding

Please apply online via our website to create an account.

Security & Privacy

Your money will always be segregated from Newrails finances. Your deposits are held and safeguarded by our banking partners (see Terms & Conditions) in accordance with Safeguarding regulations.

If you notice a suspicious transaction, have lost your phone and believe that your security credentials to Newrails may have been compromised, please contact our Newrails operators immediately via email from 9am - 5pm EET time (excluding bank holidays). Communications received outside these hours will be responded to on the next working day.

Email: please enter in --> info@newrails.xyz

Kindly note that our operators will never ask for your Newrails account password.

Our fees

See our Fees Tariff on our website.

We may adjust the prices and the range of products or services provided, but we will make sure to notify our customers prior to doing so.

Complaints

We are sorry you feel the need to raise a complaint. Please send us an email us at TBC and we will get back to you.

If you don't wish to make a complaint, but have questions about our products or need help with your account, please feel free to raise the question and we will be happy to assist.

Other questions

Newrails will only accept the equivalent of a Lasting Power of Attorney approved and registered with a Court of law.

An account holder needs to be age 18 and over.

The account will be frozen until we receive paperwork which demonstrates the legal ownership of the funds and where monies should be sent. The account will then be closed.

Your Newrails account is an electronic money account where you can receive, hold, or send money. It's different from a bank account because:

you won't be able to get an overdraft
you won't earn any interest

Your European IBAN account is facilitated by our partner (see Terms & Conditions). Your money is safeguarded, as opposed to protected, under a Financial Services Compensation Scheme.

Your European IBAN account is facilitated by our banking partners (see Terms & Conditions). Your money is safeguarded, as opposed to protected, under a Financial Services Compensation Scheme. This means it's regulated under European laws.

All of your funds are kept in a third-party custodian account, known as a Safeguarding Account, which is completely separate from Newrails's operational funds. This means that even in the highly unlikely chance of an insolvency, your funds will never be touched, as they belong to you, not us.

Not yet. We are always improving and will roll out new functionalities in the coming year and beyond. Stay tuned for more.

SEPA Payments (Euro Transfers)

SEPA Credit Transfer (SCT): Cut-off time: around 1:00 p.m. (EET) for same-day processing. Settlement: Next business day if received before cut-off; after cut-off, processed next day.
SEPA Instant Credit Transfer (SCT Inst): Available 24/7, processed within seconds (up to €100,000 per transaction). No cut-off applies.
SEPA Direct Debit: Typically processed 1–2 business days after initiation.

International Payments (SWIFT / Non-Euro)

Outbound international payments (EUR or foreign currency): Cut-off time: until 1:00 p.m. (EET) for same-day processing. Value date: 2 working days for foreign currency; 1 working day for EUR via SEPA or international clearing.
Inbound international payments: Funds received via SWIFT/SEPA typically credited same day if received by 3:00 p.m. (EET).

Instant Payments

Lithuania (via CENTROlink, operated by Bank of Lithuania) supports SEPA Instant Payments, meaning EMIs can process euro transfers 24/7 with near-instant settlement.

The following industries are not supported: