Payments

Access low cost, fast payments in 24 currencies through our network of correspondent banking partners via the SWIFT network.

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• Available in 24 currencies
• No limit to transaction value
• Flexible access – via our API, the 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

Banking Circle has access to a deep liquidity pool, with rates sourced from the world’s market-makers. Our highly-competitive rates are provided at pre-agreed margins and FX deals can be executed in real-time as treasury movements or outgoing single or bulk payments.

For FX brokers and professional FX treasury functions, our Real-time FX platform offers additional risk management tools.

• 24 executable currencies
• Auto-execution at pre-determined exchange rates available 24/5
• Real-time, transparent indicative rates
• Conversions and onward payments in a few clicks or file upload via our Client Portal
• Automated processes via our APIs
• Full reporting capabilities

SEPA Direct Debit services is one of the simplest, safest, and most convenient Alternative Payment Methods (APMs) for Payments Businesses. You can access SEPA Direct Debit Payments along with the Dynamic Mandate Management solution via the Banking Circle API.

The Dynamic Mandate Management solution offers you different levels of security based on your customer profiles, with the aim of reducing customer chargebacks and the manual admin involved.

• 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)

Provide the facility for merchants to initiate a request for a digital payment ​ from their customers in EUR and GBP.

RtP is a payment initiation service (PIS) enabled by Open Banking. It is a standardised way to electronically request payments from customers rather than awaiting payment. We offer RtP in EUR via SEPA Credit Transfer/SEPA Instant and in GBP via Faster Payments.

By integrating RtP into your payment solutions, merchants receive instant payment notifications and benefit from reduced card scheme fees, improved cash flow and zero chargeback risk.

• Simplified payment process
• Increased security due to payments being initiated immediately
• Enhanced Payer protection through 2 factor authentication and encrypted data
• No chargebacks
• Real-time updates on payment status for Payer and Payee
• Extensive Open Banking coverage

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

• 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