Pound Account

Open an account in pounds (GBP) once and keep it. Share its bank details with the payers these details accept (see below). Every payment arrives in your Peanut balance as digital dollars by Faster Payments, usually within minutes. There is no reference number and no amount to match.

Open One

1. Open the app and go to Accounts
2. Under Open new account, choose pounds
3. Tap Open GBP account
4. Copy the bank details, or share them from the app

Most verified users can open one, wherever they live. It is not available to residents of the UK, New York or a few restricted countries. You can hold 2 accounts at a time. If you need another, ask support. Opening and keeping the account is free.

You get a 6-digit sort code and an 8-digit account number. Our banking partner holds the account for you, so it is not in your own name. The app shows the account holder name to give your payer. The details never change, so payroll or a client can save them once.

Who Can Open One

Pounds are for people who do not live in the UK. EU residents can open one. If your verified residence is the UK, the pound rail is not available to you — you can still hold, send and withdraw digital dollars. This is a rule on our side, not your bank's.

Who Can Pay You

You can always pay in from your own bank account, in any amount. A company can pay you too, with no limit — payroll, a client, an invoice.

Another person cannot pay you in pounds. Only a business or your own account can pay these details — a friend cannot pay them by bank.

The name your payer sees may not be yours. Because our banking partner holds your pound account, the payer's bank checks the account name and shows a mismatch warning. That is expected, and the payment goes through anyway. Tell the payer to continue.

Fees and Limits

Peanut charges no deposit fee. Conversion costs are in the rate the app shows. Minimum 2 GBP. Your own bank may set its own limits on outgoing transfers. See the pricing page for the full picture.

Payments totalling above $100,000 USD equivalent may trigger a standard compliance review.

If a Payment Does Not Arrive

If you sent it from your own bank account, the payer rule is not the cause — contact support with the transfer confirmation. If somebody else sent it, check who: a payer the currency does not allow is returned to their bank, and they can send again within the rule — see Who can pay into my account.

If the payment matched the rule and still came back, contact support with the sender's bank confirmation.