International Payments with Currency Conversion

What are International Payments with Currency Conversion?

With the Contis API solution, clients can offer their customers the capability to make international payment in a currency selected by the sender (account holder). A list of the currencies and countries supported are shown here. At the moment Contis is unable to receive non-sterling inbound payments.

How do International Payments with Currency Conversion work?

Contis uses a third party, a payout partner, to make the payment. As part of the transaction the client will need to collect, from the sender, all the details required by the beneficiary bank in order to complete the payment.

Note: Details may vary depending on the country the funds are being sent to.

The Contis solution allows account holders (senders) to

  • Request a quote, this enables them to see the exchange rate and the other costs involved in the transaction.
  • Create a beneficiary.
  • Select the method of payment, assuming the beneficiary bank can receive SWIFT and non-SWIFT payments.
  • Create and send the payment

Account holders can also manage their beneficiaries by editing payment details, or deleting them in order that they can be set-up again with different details.

How long does the payment take to arrive?

The payment will take between 1 and 5 days. There are a number of factors that impact the timeline, including the payment type selected by the sender (Urgent or Non-Urgent), whether the beneficiary bank is directly connected participant, or whether it uses a correspondent bank.

Which countries are supported?

Contis can send payments to over 50 countries in 30+ currencies, all payments assume the sender is based in the UK. If the beneficiary is not based in the UK, then further checks will be required, which may delay the payment. A list of supported countries and currencies can be found here.

Why is the country/currency I want not supported?

The countries and currencies supported by Contis have been agreed with our payout partner, they have been selected due to their popularity, as well as the liquidity of the currency. If the country / currency you need is not listed please speak with you Account Manager who will raise a request with our partner.

What happens if the beneficiary bank doesn’t accept the payment?

There are a number of reasons the beneficiary bank may not accept the payment, it could be that the account is closed, or restricted, or that there was insufficient information provided. In these case, the payment will be returned by the beneficiary bank, this may take several days.

How to implement International Payments with Currency Conversion

At Contis international payments with currency conversion are available on a GBP programme.

  • Existing clients should contact their Account Manager to have this facility and feature made available. Contis will need to set up the necessary configuration to allow International Payments with Currency Conversion.
  • New clients should contact their Commercial Manager and ask about International Payments with Currency Conversion.

Methods of sending funds

Payments will be sent via SWIFT (Urgent) or, if available, local payout (Regular)

List of APIs to be used

Dev portal controller Web method name Description
Transfer GetInternationalBankAccountSetupCountries

To get group value combinations and allowed countries.

  • Get group value based on country
  • Check if the recipient country is available in the list
ListRecipients

In case of existing recipients

  • List all recipients linked to a consumer
  • Get the RecipientBankReferenceID
GetSpecificRecipient

In case of an existing recipient

  • Get a specific recipient based on RecipientBankReferenceID
AddRecipient

To add recipient if the recipient does not exist.

  • Use BankAccountTypeID=2 (International)
  • TransferTypeID=21 (Automated International regular) / 22 (Automated International urgent)
  • Use combination based on the group value received from GetSepaBankAccountSetupCountrie
    1=Sort Code and Account Number
    2=IBAN AND BIC
    4=BIC(SWIFT) and Account Number
    8=NCC
    and Account Number
  • BankAccountHolderName, BankAddress, BankName, BankAccountHolderAddress
  • Get the RecipientBankReferenceID
GetCurrencyRate

Check rate of exchange before transfer

  • Use FromAmount or ToAmount
  • Use FromCurrencyCode and ToCurrencyCode
BankTransfer

Based on the RecipientBankReferenceID

  • RecipientBankReferenceID
  • TransferTypeID=21 (Automated International regular) / 22 (Automated International urgent)

API Process Flow

Get quote

1. Get Currency Rate

  • From or To Amount
  • To Currency
  • To Country

2. Select Payment type

  • Urgent
  • Regular

3. Display quote

  • Exchange rate
  • Transfer amount
  • Transfer fee
  • Payout fee
  • Transfer total

Make payment

1. Get Currency Rate

  • From or To Amount
  • To Currency
  • To Country

2. Select Payment type

  • Urgent
  • Regular

3. Create beneficiary

  • Beneficiary details
  • Beneficiary bank details
  • Account details
  • IBAN lookup

4. Bank Transfer

  • Add beneficiary
  • Get currency rate
  • Bank transfer
  • Amount
  • Reason/Purpose

Delete beneficiary

1. Delete beneficiary

  • Consumer ID
  • Recipient Bank Reference ID
  • Client Request Reference
  • Culture ID

Re-quote

1. Get Currency Rate

  • From or To Amount
  • To Currency
  • To Country

2. Select Payment type

  • Urgent
  • Regular

3. Display quote

  • Exchange rate
  • Transfer amount
  • Transfer fee
  • Payout fee
  • Transfer total
 

Countries and currencies supported

Country Payment Type Routing Code Type – Regular Payer Identification document Cut off time Delivery time frame Maximum payment size Payment Scheme
Australia Regular BSB Code, Account Number 1:30 PM 2 days No limit AusPayNet
Urgent SWIFT BIC, Account number incorporation_number (Business) 2:00 PM 1 day No limit SWIFT
Bahrain Regular 0   2:00 PM 1 day No limit SWIFT
Urgent SWIFT BIC, IBAN incorporation_number (Business)        
Bulgaria Regular 0   8:30 AM 0 day No limit SWIFT
Urgent SWIFT BIC, IBAN incorporation_number (Business)        
Canada Regular Bank code, Branch code, Account number 1:30 PM 0 days CAD 20,000 Electronic Funds Transfer (EFT)
Urgent SWIFT BIC, Account number incorporation_number (Business) 2:00 PM 0 days No limit SWIFT
China Regular 0   9:00 AM 1 day No limit SWIFT
Urgent CNAPS, SWIFT BIC, Account Number incorporation_number (Business)        
Croatia Regular 0   8:30 AM 0 day No limit SWIFT
Urgent SWIFT BIC, IBAN incorporation_number (Business)        
Czech Republic Regular 0 8:30 AM 1 day No limit CERTIS
Urgent SWIFT BIC, IBAN incorporation_number (Business) 9:00 AM 0 day No limit SWIFT
Denmark Regular SWIFT BIC, IBAN 8:30 AM 0 day No limit Credit Transfer
Urgent SWIFT BIC, IBAN incorporation_number (Business) 10:30 am 0 day No limit SWIFT
SEPA Countries(EURO) Regular 0 12:30 PM 0 day No limit SEPA Credit Transfer (SCT)
Urgent SWIFT BIC, IBAN incorporation_number (Business) 2:30 PM 0 day No limit SWIFT
Hong Kong Regular Bank code, SWIFT BIC, Account number passport
drivers_license
incorporation_number (Business)
1:30 pm 1 day HKD 500,000 CHATS
Urgent SWIFT BIC, Account number incorporation_number (Business) 2:00 PM 1 day No limit SWIFT
Hungary Regular 0 8:30 AM 0 day No limit Giro Zrt
Urgent SWIFT BIC, IBAN incorporation_number (Business) 9:00 AM 0 day No limit SWIFT
India Regular Bank name, Account number, IFSC 4:30 PM 0 day INR 1,500,000 per beneficiary per day IMPS (up to INR 200,000)
NEFT (over INR 200,000, and for banks not connected to IMPS)
Urgent 0          
Israel Regular 0   2:00 PM 1 day No limit SWIFT
Urgent SWIFT BIC, IBAN incorporation_number (Business)        
Japan Regular 0   2:00 PM 1 day No limit SWIFT
Urgent SWIFT BIC, Account number incorporation_number (Business)        
Kenya Regular 0   2:00 PM 1 day No limit SWIFT
Urgent SWIFT BIC, Account number incorporation_number (Business)        
Kuwait Regular 0   2:00 PM 1 day No limit SWIFT
Urgent SWIFT BIC, IBAN incorporation_number (Business)        
Lithuania Regular SWIFT BIC, IBAN STEP2 only        
Urgent 0          
Mexico Regular SWIFT BIC, CLABE 8:30 AM 1 day No limit SPEI
Urgent SWIFT BIC, CLABE incorporation_number (Business) 9:00 AM 0 day No limit SWIFT
New Zealand Regular 0   2:00 pm 1 day No limit SWIFT
Urgent SWIFT BIC, Account number incorporation_number (Business)        
Norway Regular SWIFT BIC, IBAN   10:30 AM 0 day No limit Credit Transfer
Urgent SWIFT BIC, IBAN incorporation_number (Business) 10:30 AM 0 day No limit SWIFT
Oman Regular 0   2:00 pm 1 day No limit SWIFT
Urgent SWIFT BIC, Account number incorporation_number (Business)        
Philippines Regular SWIFT BIC, Account number drivers_license
social_security_number
green_card
passport
visa
matricula_consular
registro_federal_de_contribuyentes
credential_de_elector
social_insurance_number
citizenship_papers
drivers_license_canadian
existing_credit_card_details
employer_identification_number
national_id
others
incorporation_number (Business)
4:30 pm 0 day PHP 1,300,000 PESONet
Urgent 0          
Poland Regular SWIFT BIC, IBAN incorporation_number (Business) 9:30 AM 0 day PLN 150,000 Elixir
Urgent SWIFT BIC, IBAN incorporation_number (Business) 9:30 AM 0 day No limit SWIFT
Qatar Regular 0   2:00 PM 1 day No limit SWIFT
Urgent SWIFT BIC, IBAN incorporation_number (Business)        
Romania Regular 0   9:00 AM 0 day No limit SWIFT
Urgent SWIFT BIC, IBAN incorporation_number (Business)        
Saudi Arabia Regular 0   2:00 PM 1 day No limit SWIFT
Urgent SWIFT BIC, IBAN incorporation_number (Business)        
Singapore Regular SWIFT BIC, Account number passport
drivers_license
incorporation_number (Business)
2:00 pm 1 day SGD 150,000 FAST
Urgent SWIFT BIC, Account number incorporation_number (Business) 2:00 pm 1 day No limit SWIFT
South Africa Regular 0   10:30 AM 0 day No limit SWIFT
Urgent SWIFT BIC, Account number incorporation_number (Business)        
Sweden Regular SWIFT BIC, IBAN 10:30 AM 0 day No limit Direct Credit
Urgent SWIFT BIC, IBAN incorporation_number (Business) 10:30 AM 0 day No limit SWIFT
Switzerland Regular 0   10:30am 0 day No limit SWIFT
Urgent SWIFT BIC, IBAN incorporation_number (Business)        
Thailand Regular 0   9:00 AM 1 day No limit SWIFT
Urgent SWIFT BIC, Account number incorporation_number (Business)        
Turkey Regular 0   9:30 AM 0 day No limit SWIFT
Urgent SWIFT BIC, IBAN incorporation_number (Business)        
Uganda Regular 1   9:00 AM 1 day No limit SWIFT
Urgent SWIFT BIC, Account number incorporation_number (Business)        
United Kingdom, Isle of Man, Jersey, Guernsey Regular Sort Code, Account Number   3:30 pm 0 day £250,000 Faster Payments Service (FPS)
Urgent Sort Code, Account Number or
SWIFT BIC, IBAN
incorporation_number (Business) 4:30 PM 0 day No limit SWIFT
United Arab Emirates Regular 0   2:00 PM 1 day No limit SWIFT
Urgent SWIFT BIC, IBAN incorporation_number (Business)        
USA Regular ABA, Account number 5:10 PM 0 days / 1 day $25,000 for same day (T+0)
$100,000 for next day (T+1)
FedACH
Urgent SWIFT BIC, Account number incorporation_number (Business) 4:30 PM 0 days No limit SWIFT