IMPORTANT: Prize draw businesses need 3 banking services in order to receive online payments. A payment gateway, an acquirer and an issuer. You can learn more by clicking the relevant button below.

A payment gateway is the tool that connects your website to the banks.

When someone enters their card details on your competition website, the payment gateway securely sends that information to the next step in the chain. It passes the payment request to the acquirer, who then contacts the customer’s bank.

You can think of the gateway as the messenger. It takes the payment details from your website and sends them safely to the financial companies that handle the money.

It does not hold the money. It simply connects everything together.

An acquirer is the company that helps your business accept card payments.

After the payment gateway sends the request, the acquirer contacts the customer’s bank (the issuer) to ask if the payment is approved. If the issuer says yes, the acquirer makes sure the money is sent to your business account.

The acquirer connects your business to the customer’s bank and makes sure you receive the funds.

An issuer is the customer’s bank. It is the bank that gave them their debit or credit card.

When a payment request comes through the system, the issuer checks if the customer has enough money in their account. If they do, it approves the payment. If they don’t, it declines it.

The issuer essentially speaks to the acquirer to confirm whether the payment can go ahead.

Moorwand is both an Acquirer and Issuer. 

Moorwand Digital banking Solutions For UK Prize Draw Operators

Moorwand is both an acquirer and issuer. They are a London-based FCA regulated Electronic Money Institution (EMI) and Principal Member of Mastercard, providing secure UK and European digital banking solutions for businesses that need to send and receive payments efficiently.

With over 13 years of experience, Moorwand supports prize draw businesses ranging from startups to multi-million-pound operators.

How to redeem your 50% off Moorwand setup fees

Rafflers recommends Moorwand as a trusted digital banking partner for competition operators who require stability, cost efficiency and personalised support. To celebrate this recognition, Moorwand will apply 50% discount on your setup fees when using the specific contact details below…

Make Contact

Contact Prize draw Specialist Darren Armstrong at
da@moorwand.com

Quote ‘Rafflers’ to make sure your 50% discount on setup fees is applied.

Transparency: Rafflers may receive a referral fee if you choose to open an account with Moorwand. We only recommend partners we believe are suitable for competition businesses.

Moorwand’s Prize Draw Business Account Features

Here’s what makes Moorwand our Number One choice as both an aquirer and issuer for prize draw banking solutions..

Stable. Transparent. Competition Approved.

Moorwand is a London-based Electronic Money Institution regulated by the Financial Conduct Authority and a Principal Member of Mastercard, providing secure digital banking across the UK and Europe.

Moorwand actively works with UK competition operators and has not closed a single competition business account, and in a sector where banking stability is essential, this track record gives operators the confidence and security they need to scale without disruption.

Protect Your Margins

Unlike many providers, Moorwand does not charge percentage-based transaction fees, which can make a substantial difference for high-volume competition businesses processing large numbers of payments. Over the course of a year, this structure can deliver significant cost savings and protect profit margins.

Pricing is transparent, competitive and specifically designed to support the needs of the competition sector as businesses grow.

*FREE Debit card for all prize draw clients

 
 

Dedicated Account Management

Every client is assigned a dedicated Account Manager who acts as a single point of contact for the business. You have direct access to them by phone, email and WhatsApp, making communication simple and fast whenever you need support.

Instead of calling a general customer service line and speaking to a different person each time, you deal with someone who understands your business model, your payment activity and your compliance requirements. This personal approach saves time, reduces frustration and ensures issues are resolved quickly and efficiently.

Fast Setup. Built to Scale.

Accounts are typically ready within 48 to 72 hours, subject to standard compliance checks, allowing competition businesses to get up and running quickly.

Once live, the account supports instant GBP payments, making it easy to collect entries and issue prizes without delay. Businesses can make single payouts of up to £50,000, which is ideal for high-value cash competitions. There are no maximum limits on how much you can hold in the account, giving operators flexibility as revenue grows. 

 

Built for High-Volume Ticket Payments

Moorwand accounts are designed to handle high transaction volumes with speed and reliability. Clients can send and receive instant GBP payments, issue single payouts of up to £50,000 and manage both B2B and B2C transactions seamlessly. There are no maximum balance limits, no percentage-based transaction fees and businesses can scale prize payouts and revenue without increasing their banking costs.

 

Great For Start-Ups

Moorwand is particularly well suited to start-up competition businesses that need reliable banking from day one. Unlike many traditional banks and payment providers that decline early-stage operators due to limited trading history, Moorwand assesses businesses on their structure, compliance and growth plans.

This means new competition brands can secure an FCA-regulated account even if their website is still under development. With fast onboarding, clear pricing and dedicated account support, start-ups can launch confidently, process payments securely and build credibility with customers from the outset.

 

Moorwand FAQ's

Yes. Moorwand is a London-based Electronic Money Institution regulated by the Financial Conduct Authority (FCA) and a Principal Member of Mastercard, providing secure digital banking services across the UK and Europe.

Yes. Moorwand actively works with UK competition operators and has successfully onboarded businesses ranging from start-ups to high-turnover operators.

Moorwand has not closed a single competition operator account since supporting the sector, providing reassurance and account stability for businesses operating in this space.

No. Moorwand does not charge percentage fees on the value of transactions. This can deliver significant annual savings for high-volume competition businesses.

Accounts are typically ready within 48 to 72 hours, subject to standard compliance and onboarding checks.

Accounts support instant GBP payments, single payouts of up to £50,000, B2B and B2C transactions and unlimited balance holding.

 

Yes. Every client is assigned a dedicated Account Manager with direct access via phone, email and WhatsApp, ensuring consistent and personalised support.

 

Rafflers recommends Moorwand because it combines FCA regulation, sector experience, account stability, transparent pricing and dedicated account management, key factors for competition operators seeking reliable banking infrastructure.