Can partnership companies open a Calmony client bank account?
Not currently. Griffin, the bank that provides Calmony client bank accounts, does not support partnership-type companies. Partnerships can use CalmonyPay instead, which is an Electronic Money Institution (EMI) account powered by Modulr.
At present, partnership companies are unable to open a Calmony client bank account. Calmony client bank accounts are provided by Griffin Bank, and Griffin's onboarding criteria do not currently accommodate partnership-type business structures.
This limitation has been raised with Griffin as a business case, and whilst they are aware of the request, it is not currently on their product roadmap. As a result, we are unable to provide an estimated timeframe for when — or whether — this will change.
What partnerships can do instead
If your business is structured as a partnership, you can open a CalmonyPay account. CalmonyPay accounts are provided by Modulr and operate as Electronic Money Institution (EMI) accounts. Whilst these differ from a traditional client bank account, they allow partnerships to manage client money through Calmony whilst Griffin support remains unavailable.
If you are unsure whether a CalmonyPay account is suitable for your needs, or would like to discuss your options, please get in touch with the Calmony support team at support@calmony.co.