ClearBank Embedded Banking vs Modulr
ClearBank Embedded Banking
clear.bank
Modulr
modulrfinance.comSide by side
| Figure | ClearBank Embedded Banking | Modulr |
|---|---|---|
| Price from | — | £16.25/mo |
| Free plan | — | — |
| Free trial | — | — |
| Open source | — | — |
| Web | — | Yes |
| iOS | — | Yes |
| Android | — | Yes |
| API | Yes | Yes |
| Plans published | 1 | 12 |
| Spec score · Banking-as-a-Service Platforms | 7.8 (#10) | 8.5 (#4) |
| Accounts | The offering includes retail and business current accounts, savings accounts, Flexible Cash ISAs, service accounts and operating accounts. | Accounts are available in GBP, EUR and nine other currencies, with local IBANs in GB, NL, ES, FR and IE. |
| Founded | 2016 | 2016 |
| Headquarters | London, United Kingdom | London, United Kingdom |
| Payments | Current accounts support UK payment schemes including Faster Payments and CHAPS, and the page also describes Bacs access for current accounts. | The platform supports instant GBP and EUR pay-ins and pay-outs, CHAPS, Bacs, SEPA and SWIFT payment services. |
| What it does | ClearBank provides regulated banking infrastructure so businesses can offer financial products under their own brand without becoming a bank. | Modulr automates payroll, supplier payments, collections and other business money flows through portals and APIs. |
Plans
Modulr
- Payroll Payments Bronze£16.25 a month
- Accounts Payable and Spend Management Bronze£20 a month
- Bronze£30 a month
- Bundle Bronze£30 a month
- Payroll Payments Silver£67.20 a month
- Accounts Payable and Spend Management Silver£75 a month
- Bundle Silver£110 a month
- Silver£110 a month
- Payroll Payments Platinum£300 a month
- Accounts Payable and Spend Management Platinum£320 a month
In their own words
ClearBank Embedded Banking
ClearBank Embedded Banking has no write-up on Specifiction yet; its figures are above.
Modulr
Modulr provides a platform for automating money moving into and out of a business. Its listed products cover payroll payments, accounts payable, spend management and collections. Accounts are available in GBP, EUR and nine other currencies, with local IBANs in GB, NL, ES, FR and IE. The platform supports instant GBP and EUR pay-ins and pay-outs, CHAPS, Bacs, SEPA and SWIFT. Businesses can issue virtual and physical Visa and Mastercard cards, with Apple Pay and Google Pay support; controls include spend limits, authorisation windows and merchant category code settings. Listed integrations include BrightPay, Sage, Xero, QuickBooks, Workforce and Conferma, while Sage Intacct is marked as coming soon. Developers have API documentation, guides and sandbox access. Modulr says it is licensed as an electronic money institution by the FCA in the UK and DNB in the Netherlands. It also states that it is not a bank and that customer funds are safeguarded rather than covered by FSCS. Paid plans are listed at £30 a month for Bronze, £110 a month for Silver and £500 a month for Platinum. The service is available on Android, iOS, web and API.