Customers need an email and a phone number to sign up for Tonio and clients will get access to their profile, after confirming.
Currently customers can use their profile to open a new account and to call the sales team who will advise them on working with the service. Besides, the service allows Tonio clients to see their transactions history, their profile data, and their activity log as well as to make a SEPA transfer. As compared to other payment providers, SEPA transfer fees are among the lowest. Tonio clients can also transfer funds to each other within Tonio for free.
“We want to make our service as convenient for our clients as possible, so that they would be able to send and receive transfers across the EU. This is why we offer SEPA transfers. SEPA means Single Euro Payments Area. SEPA simplifies transactions in Europe and makes them faster and more secure. As a general rule, international bank transfers are associated with high fees and the requirement to provide detailed information about the recipient. SEPA is a payment system that removes these barriers for users. SEPA transfers are available in 36 European countries”, said in Tonio.
SEPA users can make transfers between chequing accounts that belong to different owners, make payments with bank cards and pay bills and invoices. Any resident of an EU country or a non-resident who has an account in an EU bank can make SEPA transfers.
The key advantage of SEPA is a flat rate that does not depend on the transferred amount, the country of the sender or the recipient. Another feature of SEPA is a single standard for all transfers. To send money, only the IBAN (International Bank Account Number) of the chequing account and BIC, a financial institution identifier.
An automated service processes all transactions regardless of whether they happen within one country or among banks of different states. Unified processing ensures a high level of security.
- transactions take less than 24 hours and each day of delay means late fees paid to the recipient;
- low fees thanks to optimized payment mechanisms within the EU;
- doesn’t need separate accounts in various banks, a BIC will suffice;
- the same functions and criteria for all users;
- advanced online banking.
Tonio is a Britain-based payment provider who carries out fast and secure money transfers across the EU. Fast and direct access to CENTROlink, a payment system run by the Bank of Lithuania, enables transactions in euros through the SEPA zone.