Paxum alternative for iGaming, crypto and affiliate businesses
Paxum is licensed offshore in Dominica and its terms prohibit gambling and virtual-currency transactions. Narvi is a Finnish e-money institution with dedicated account offers for iGaming and crypto businesses. Here's how they compare.
The short answer. Choose Narvi if you run an iGaming or crypto business, or an affiliate business working with them, and want a dedicated IBAN from an e-money institution supervised in the EEA. Consider Paxum if you need a personal account for yourself as a freelancer or performer, or payouts to prepaid cards and local accounts in many countries outside Europe.Every Paxum fact below comes from Paxum's own documents or the Dominica Financial Services Unit as of 3 November 2026, linked at the end.
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At a glance
Paxum vs Narvi at a glance
Each number in brackets links to its source; the full list is at the end of the page.Licence- Paxum (Paxum Bank Limited, Roseau, Dominica): chartered under Dominica's Offshore Banking Act and regulated by the Financial Services Unit of Dominica; the register lists it as an offshore bank. Paxum's terms are governed by Dominica law [1][2][3]
- Narvi (Narvi Payments Oy Ab): e-money institution supervised by the Finnish Financial Supervisory Authority (FIN-FSA), registration 3190214-6, passported across the EEA [11]
- Paxum: personal accounts for freelancers, affiliates, online professionals and performers; business accounts for companies making mass payouts [4][10]
- Narvi: business accounts, Banking-as-a-Service and white label, including dedicated offers for iGaming and Web3 and crypto businesses [12][13][14]
- Paxum: its terms prohibit gambling and gaming of any kind, transactions in virtual currencies, payment aggregation and unauthorised money transmission [3]
- Narvi: iGaming operators, platforms and affiliates, and crypto exchanges, custodians and OTC desks, go on a custom enterprise plan priced after compliance review [13][14][12]
- Paxum: lists a free EUR IBAN for incoming wires and SEPA transfers; its site doesn't say whether the IBAN is in your company's name or which BIC it uses [5]
- Narvi: dedicated IBAN in your company's name, starting with FI, under Narvi's own BIC NARYFIH2 [15]
- Paxum: Swift wires, local transfers in 50+ countries, transfers between Paxum users, card funding and prepaid cards; incoming in USD, EUR, GBP, AUD, CAD and RON [7][8]
- Narvi: SEPA and SEPA Instant 24/7, Instant at the SEPA price up to EUR 100,000 per payment, and Swift under Narvi's own BIC [16]
- Paxum: incoming EUR wire to your own account $10, outgoing EUR wire $40, outgoing USD wire $50, third-party transfers 0.5% to 1% with minimums [5]
- Narvi: one-time onboarding fee, a monthly fee by risk tier with three months paid up front, and a minimum balance of three monthly fees [12]
Industry policy
iGaming and crypto: prohibited, or served
Paxum's terms list "gambling and gaming of any kind", including online casinos and sports wagering, among prohibited activities, alongside transactions involving the sale, purchase or exchange of virtual currencies [3]. If your revenue comes from either, or you're an affiliate paid by operators in those industries, that's a structural problem rather than a pricing one.Narvi has dedicated offers for iGaming operators, platforms and affiliates and for crypto exchanges, custodians, OTC desks and DeFi entities [13][14]. They go on a custom enterprise plan, priced after compliance review [12].Licence
Offshore licence or EEA supervision
Paxum Bank Limited is chartered under Dominica's Offshore Banking Act, which allows business with non-resident clients, and it's supervised by Dominica's Financial Services Unit [1][2]. Some EEA counterparties, payment providers and auditors ask more questions about funds coming from offshore institutions.Narvi is supervised by the Finnish Financial Supervisory Authority and passported across the EEA, and it holds client funds separately from its own money as EU e-money rules require [11].When to stay
When Paxum is the better choice
Paxum offers personal accounts, so an individual freelancer, model or performer can be paid without setting up a company [4]. Narvi accounts are for businesses. Paxum also pays out to local accounts in 50+ countries, to cards and to prepaid cards, and holds USD and GBP alongside EUR [7][8]. If you mainly pay many individuals worldwide, compare those payout options carefully before you switch.How to switch
Switching from Paxum to Narvi
What to prepare. You'll need your company documents, details of your directors and owners, and a short description of where your money comes from and goes. The full document list is in our help centre.- Book a short call with the onboarding team for a pricing estimate based on your business profile.
- Complete the online application, which takes about 10 minutes (step-by-step guide).
- Our compliance team reviews your documents and sends a priced offer.
- Fund the account: the onboarding fee, three months of monthly fees and a minimum balance of three monthly fees [12].
- Run both accounts in parallel. Move one payment flow at a time (customers, PSPs, payroll, suppliers) and send each counterparty your new IBAN and the BIC NARYFIH2.
- Close the old account only after the last inbound payment has landed, and check your Paxum agreement for notice periods and closing fees first.
FAQ
Frequently asked questions
Paxum's licence page cites a charter under Dominica's Offshore Banking Act, regulated by the Financial Services Unit of Dominica. We found no EU or EEA e-money or payment licence on its site.
No. Paxum's terms prohibit gambling and gaming of any kind and transactions involving virtual currencies.
No. Narvi Payments Oy Ab is an e-money institution authorised by the Finnish Financial Supervisory Authority and passported across the EEA. It holds client funds separately from its own money, as EU e-money rules require.
Yes. Narvi has dedicated account offers for both. Crypto exchanges, payment services and other high-risk businesses go on a custom enterprise plan, priced after compliance review.
Yes, and we recommend it. Run both accounts in parallel and move your payment flows one at a time, so nothing stops while counterparties update your details.
Narvi charges a one-time onboarding fee and a monthly fee set by your risk tier, with three months of fees paid up front. Enterprise clients are priced after compliance review. The tiers are on the pricing page.
Get a dedicated FI IBAN in your company's nameOpen an account or talk to the onboarding team about your industry and payment flows.
Sources
Sources
Last checked: 3 November 2026. Also compare Narvi with ConnectPay, Stable.com, payabl., IBAN4U, Genome, Bilderlings, Neteller or Kontist, or read our comparison of Wise, Revolut and other alternatives.- Paxum licences
- Financial Services Unit of Dominica, Paxum Bank Limited
- Paxum terms and conditions
- Paxum account types
- Paxum business fee information document (25 August 2026)
- Paxum adding and withdrawing funds
- Paxum mass payouts
- Paxum receive payments
- Paxum account verification
- Paxum homepage
- FIN-FSA register of supervised entities
- Narvi pricing
- Narvi for iGaming
- Narvi for Web3 and crypto
- Narvi dedicated IBAN
- Narvi SEPA Instant
- Narvi FAQ
- Narvi Banking-as-a-Service
- Narvi multi-user access
- Narvi for non-resident and cross-border companies
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Narvi Payments Oy Ab is an Authorized Electronic Money Institution (EMI). Narvi’s EMI license is granted by the Finnish Financial Supervisory Authority (FIN FSA) with the registration number 3190214-6. Narvi’s license is passportised to all European Union countries.
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