Payments

We offer access to multiple payment networks and methods for initiating and receiving payments, designed to provide flexibility, accommodating different business models, technical requirements and available resources.

Payment Processing Models

We operate different models to offer a comprehensive coverage to support your global payment needs, while also providing locally relevant payment solutions.

Through our direct clearing access, we maintain our own direct connections to various batch and instant clearing schemes, and RTGS systems across many currencies. In many cases, we are able to sponsor you into these schemes as an indirect participant. These payments are processed in line with our Risk Appetite Policy .

We also facilitate clearing via partner banks with bespoke integrations allowing us to extend our network of correspondent banks for you to benefit from payments in additional currencies, subject to the partner bank risk appetite.

Our global reach extends through the Swift network for international transfers. Additionally, our proprietary BC-NOW internal network enables instant transfers between Banking Circle accounts for seamless internal settlements.

Payment Initiation Methods

The Payments API enables you to initiate payments at scale either as single payments or bulk payments, depending on the volume and nature of your systems. You can also initiate payments via the Client Portal.

Single Payments

The Single Payments endpoint processes individual payments one at a time. It is suitable for use cases where payments are handled individually, such as companies with low payment volumes or systems that process payments individually in near-real time (interactive processing).

If your company deals with small amounts of payments at low frequencies, the Single Payments endpoint is the appropriate choice.

Bulk Payments

The Bulk Payments endpoint processes multiple payments simultaneously. It is designed for companies with high payment volumes or systems that handle payments in batches or queues, processed at intervals.

The response time for processing 1000 payments in bulk is faster than processing 1000 payments via the Single Payments endpoint.

ISO20022 Messages

We also support payment initiation via ISO20022 messages, including pain.001 for customer credit transfers and pacs.008 for financial institution transfers.

This option is particularly suitable for organizations that already operate with ISO20022 standards or need to maintain compliance with specific messaging formats.

Learn more about ISO20022 message support

Account-Based Payment Solutions

We offer two distinct account setups to process payments, each designed for different business needs and regulatory requirements:

Banking Circle-Issued Accounts

When using our accounts, you can process payments in multiple ways. You can send payments using your own name from your settlement account, use your customer's name while sending from your settlement account, or create dedicated virtual accounts for your customers. Each option provides different capabilities for sender identification and account references.

Learn more about payment solutions with our accounts

Self-Issued Accounts

If you issue your own accounts and maintain your own BIC, we provide solutions to facilitate direct access to payment networks and clearing systems.

Agency Banking enables participation in local clearing schemes using your own BIC and IBANs/account numbers. This setup provides direct access to schemes such as SEPA, FPS, and RIX Instant, allowing you to maintain your own identity in the payment chain.

Learn more about Agency Banking

Correspondent Banking provides Swift connectivity for processing international payments using your own BIC and account numbers, enabling global reach through our correspondent banking network.

Learn more about Correspondent Banking