What type of account do I get with Bokio?
You will receive a UK sort code, account number and a Mastercard debit card linked to the account. The Business Account you receive via Bokio is placed in a client funds account.
How does a Bokio business card work?
The business card that you receive from Bokio is a Mastercard debit card. The card is directly linked to your company account.
Does the account have an overdraft facility?
We do not offer an overdraft facility.
Is Bokio a registered bank?
Bokio is not a bank but a registered payment service provider and is FSCS-protected.
Can I use both a Bokio Business Account and a bank account at another bank?
Yes, this works well with Bokio. You can choose to use both of them and you will still be able to connect your other bank to Bokio using our bank feed solution. With bank feeds transactions will be fetched up to 4 times a day, but the Bokio Business Account’s transactions will be fetched immediately.
Can I trust that my money is safe?
Bokio is a payment institution and your money is protected by 'The Financial Services Compensation Scheme'. Customers' balances are kept separately in a client funds account and are never mixed with Bokio's own funds.
Does Bokio provide an automatic switching service?
Unfortunately, we do not provide a switching service. You will need to transfer any money from your old account to your Bokio account.
Does Bokio support Direct Debit payments?
Yes, it is possible to set up and send Direct Debit payments in Bokio.
Does Bokio have any binding or termination period when cancelling one of the plans?
No, if you cancel your plan you only pay for the current month.
Does Bokio require a credit check when opening a Business account?
No, we do not require a credit check as we do not offer you any credit.
Is it possible to pay supplier invoices and expenses without requiring additional information?
Yes, as long as you add the supplier or employee's sort code and account number when setting them up, you will be able to pay the supplier and expense directly from Bokio and the payment will be automatically recorded.