Important Notice: Virtual Account Termination & Alternative Solution

Dear Valued Customer,

We would like to remind you that, as stated in our notice dated 21 October 2025, the Virtual Account service will be discontinued on 22 December 2025

What this means for you:

The service provided by Modulr will end on 22 December 2025. As a result, Schedule 4 of the MSB Customer Agreement, which governs this service, will also be terminated. Our partnership with Modulr and all related policies and terms will conclude on this date.
Please ensure to notify your customer that your current account number will be deactivated on the 22 of December, and payments will not be settled thereafter.

Alternative arrangement:

We are pleased to announce that we have secured a new partner to replace Modulr, to ensure your virtual account service continues without interruption, please respond to this email to confirm. Once we receive your confirmation, we will provide details about the new provider and any changes to the service in advance of 22 December 2025.

Next steps:

1. After receiving your consent, your Relationship Manager will reach out with full details of the new Virtual Account provider and key changes.
2. If you agree to the new terms, we will send you a revised schedule for your signature.
3. Once signed, we will set up your new account and provide you with the sort code and account number to share with your customers.

We look forward to hearing from you. If you have any questions or need further clarification, please do not hesitate to contact us.


Thank you for your continued trust and partnership.


Best regards,
Shpun