Payments & Correspondent Banking for Banks

Payments Businesses

Banks

Marketplaces

Fast global payments and virtual accounts for your sellers

API

Connect directly to our payments technology all with best-in-class efficiency, stability, and security

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Client Portal

Instant access to our payments technology via web with no integration needed

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SWIFT

Send and receive funds through our global network of correspondent banks

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Open multi-currency accounts to make and receive cross-border payments via local clearing systems – enabling you to support your customers’ global banking activities.

With coverage across 24 currencies, 11 of which are local, we provide a range of payment options to meet the needs of Banks and their customers.

Collect, pay and manage funds for your customers
Fast, low cost payments
Access global markets without the need for local banking relationships
Wide range of local payout capabilities
Instant payments within the Banking Circle network

Local collections and payments

Access multiple domestic markets through a single access point – without the need for local banking relationships in each jurisdiction.

Features & Benefits

Payouts in 11 currencies via local rails
Banks can access local IBANs which can pay out and receive on local payment rails
Flexible access – make payments via the API, Client Portal or SWIFT
Settle multiple currencies locally
Fast and low cost compared with the traditional correspondent banking network
Speedy settlement with same-day local payments

Cross-border payments

Access low cost, fast payments in 24 currencies via the SWIFT network.

Features & Benefits

Available in 24 currencies
No limit to transaction value
Flexible access – make payments via the API, Client Portal or SWIFT
Low transaction costs and fees for both payer and payee
Eliminate operational errors and admin costs through virtually error-free payments

SEPA Direct Debit

SEPA Direct Debit for one-off and recurring collections and payments within SEPA can be added to Banking Circle services.

Delivered by Banking Circle’s sister company, SEPAexpress, the SEPA Direct Debit service gives Banks one of the simplest, safest and most convenient Alternative Payment Methods (APMs).

It can be used with any account within SEPA.

Features & benefits

Improve cashflow by reducing the risk of late payment
Lower transaction costs with one of the lowest APM fees
Offer easier payment automation without requiring the account holder’s interaction once the mandate is set up
Provide a flexible refund policy with no dispute within 8 weeks of settlement
Reduce payment reconciliation admin with automated and transparent processing of exceptions (cancellations, reversals and refunds)

GBP Faster Payments

Real-time direct clearing and settlement for GBP up to £1m per transaction

Banking Circle has joined the UK Faster Payments Service (FPS) as a Direct Participant for GBP.

Clients now have access to real-time direct clearing and settlement for both EUR and GBP, with higher than industry-average upper transaction limits.

Features & benefits

Payments are usually instant and are processed in a maximum timeframe of 2 hours
Funds received across the UK, including the Isle of Man, Guernsey, Jersey and Gibraltar
24/7/365 access
Maximum FPS limit of £1,000,000 per transaction
Capable of handling significant payment volume
Faster Payments was introduced to reduce the time it takes for transfers to clear, which is quicker than a BACS payment