Under the hood
Expand your payment capabilities with tools that allow you to collect currency abroad. The Collect functionality gives you a ready-made collections product that issues you with local accounts to speed up payments in the US and Eurozone.
- Virtual Account Numbers – local accounts in the EU & USA
- Easy reconciliation – using virtual account numbers and rich reference data
- No SWIFT deductions – invoices paid in full without unfair SWIFT charges
The Convert functionality gives you real-time access to wholesale exchange rates. Convert money at an agreed rate and manage settlements on the platform.
- Currency conversion – create, retrieve, track and find a conversion
- Wholesale foreign exchange rates – low-cost rates for currency conversions
- Forwards – lock in future rates for up to 12 months
- Real-time foreign exchange rates – access live rate quotes before a conversion is made
- Trade split – split your trades
- Cancellations – cancel a trade
- Date change – change the date of a future conversion
- Settlements – consolidate multiple conversions into a single reference for sending funds to Currencycloud
The Pay functionality gives you choice and control over your domestic and international payments.
- Local payout – cost-effective payout to over 35 countries.
- SWIFT payout – fast payout via the SWIFT network.
- All charges ours – pay one charge for sending money with no hidden fees.
- Bulk payments – group payment instructions to the same beneficiary and send in one batch.
- Transfers – move money between your and your customers’ accounts or between your customers’ account/balances within your ecosystem.
- Beneficiaries management – create and manage all of your beneficiaries.
- Bank account validation – validate your beneficiary’s account details.
- Payer management – provide more information about the payer of a payment.
The Manage functionality is your window to our payment platform. Multiple levels of control make international payments seamless and easy. Manage every aspect of your account: balances, notifications, permissions, reporting and more.
- Admin user interface – authenticate access to the API with login/out functionality.
- Multi-level authentication – add multiple layers of authentication and authorizations, and define authorization levels to match your company’s needs
- Notifications – enable notifications based on certain actions
- Pricing management – manage the margin markup that you pass on to your customers
- Sub accounts – give your customers accounts and enable customer-to-customer balance transfers
- Multi-currency balances – allow users to hold multiple currencies in a virtual ledger and access balance information in any currency. Users can fund, convert, and pay out using balances, speeding up the delivery of funds to a beneficiary bank account.
- User permissions – control user access and permissions
- Collect reference data needed to make international payments, from required beneficiary details to available currency exchanges and more
- Payment tracking – track your payments, see and receive status notifications
- Reconciliation – reconcile your payments and conversions
- Transaction reporting – see transaction history and status reports