Payment schemes
EUR to EUR payment
- SEPA instant: Payment between accounts in EUR and amount <=100.000€
- SEPA: Payment between accounts in EUR and amount >100.000 €
GBP to GBP payment
- UK Faster Payment: Payment between accounts in GBP and amount <=1.000.000 GPB
- CHAPS: Payment between accounts in GBP and amount >1.000.000 GPB
- BACS: Payments from GBP to GBP account in the UK with an amount < 250000.00£
FX
- SWIFT
Interledger
Each BaaS has a different condition for the inter-ledger payment to be applied:
- Railsr: both sender and beneficiary accounts belong to the same partner product.
- Clearbank:
- Both sender and beneficiary accounts are Clearbank GBP accounts.
Both sender and beneficiary accounts are Clearbank MCCY accounts and have the same currency.
- Both sender and beneficiary accounts are Clearbank GBP accounts.
- Modulr: both sender and beneficiary accounts belong to Modulr and have the same currency.
- EML:
- In general, both sender and beneficiary accounts belong to the same EML customer.
- In the case of card-to-card payment, both sender and beneficiary accounts belong to the same cardholder.
- Currencycloud: payments between sub-account (client account) and house account (customer account).
Payment schemes per BaaS
Railsr | Modulr | Clearbank | EML | Currencycloud | |
---|---|---|---|---|---|
SEPA instant | ✅ | ✅ | 🚫 | 🚫 | ✅ |
SEPA | ✅ | ✅ | 🚫 | ✅ | ✅ |
UK Faster Payment | ✅ | ✅ | ✅ | 🚫 | ✅ |
CHAPS | ✅ | ✅ | ✅ | 🚫 | ✅ |
BACS | 🚫 | 🚫 | 🚫 | 🚫 | 🚫 |
SWIFT | ✅ | ✅ | 🚫 | ✅ | |
Interledger | ✅ | ✅ | ✅ | ✅ | ✅ |
Updated about 1 year ago