Franx is an international payment service and trading platform all rolled into one. With Franx, you’ll have one single account for 33 currencies. You do all the trading yourself, without any interventions from your bank or a broker, and pay only for the transactions you perform. Franx can therefore offer attractive rates.
Is Franx a Bank?
Franx is not a bank, but rather a financial services provider subject to regulatory supervision by the Netherlands Authority for the Financial Markets and DNB (Dutch Central Bank). As a financial services provider, we hold a payment licence issued by DNB, as well as the AFM permit for investment companies. Needless to say, both industry regulators have issued a Declaration of No-Objection (DNO). Given that Franx does not operate as a bank and the Franx B.V. private limited company does not hold funds, we do not need a banking licence to offer our services.
How is Franx related to ABN Amro?
Franx is a wholly-owned subsidiary of ABN AMRO. We have our own IT infrastructure, systems, and processes. As the sole shareholder, ABN AMRO is responsible for Franx and supports Franx.
What's the difference with respect to ABN Amro?
Franx intends to serve small and medium-size enterprises wanting to take care of FX transactions and international payments themselves. As an innovative player in the market, we therefore offer a new FX and payment platform that taps into the current needs of businesses who want to do their own trading and arrange payments through a user-friendly platform. Our services are not intended for consumers.