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ClearBank EU
Overview
Clear.Bank is a leading open banking API and compliance platform available in two distinct instances: Clear.Bank EU and Clear.Bank UK.
This page focuses on Clear.Bank EU, which facilitates European transfers.
For international and instant payments, refer to Clear.Bank UK.
Default currencies
The following currencies are supported by the service provider:
Real MCCY - currently, only EUR accounts are supported;
Virtual MCCY - currently, only EUR accounts are supported.
Prerequisites
An active financial services license is required to implement the integration. Contact your manager for additional details.
Website
Products and services
Name | Supported (Yes/No) |
|---|---|
Accounts | Yes |
Virtual accounts | Yes |
IBAN generation | Yes |
Private accounts | Yes |
Business accounts | Yes |
Multi-currency Accounts | Yes |
Mono-currency Accounts | No |
SEPA Credit Transfer (SCT) | No |
SEPA Instant (EUR-3) | No |
Target2 (EUR-1) | Yes |
SWIFT | No |
Direct Debit (BACS, SEPA) | No |
CHAPS (UK) | No |
Faster Payments (UK) | No |
BACS (UK), incoming only | No |
ACH (Automated Clearing House) | No |
Fedwire (Local USA payments in USD) | No |
Intraday Payment (DKK) | No |
FX orders and rates | No |
Interledger | Yes |
Refunds (incoming, outgoing) | Yes, incoming only |
Dynamic payments (Bank transfer) | No |
Convert & Send | No |
CoP (Confirmation of payee) | No |
Provider dashboard | No |
Additional information
The table below provides additional information about the services offered by ClearBank.
Service name | Description | Execution details |
|---|---|---|
IBANs | The provider delivers an account opening service. An IBAN identifies the account of a customer at a financial institution and allows to send cross-border transfers. | Locations Clear.Bank accounts can be opened for citizens of the following countries:
|
European transfers (Target2) | The service provider supports TARGET2 (Trans-European Automated Real-time Gross Settlement Express Transfer System) as the real-time gross settlement (RTGS) system for the euro. It is used by central and commercial banks to process large-value and time-critical payments in euro across the eurozone and beyond. | It is possible to send TARGET2 transfers in the following currencies:
|
Currency exchange | The functionality allows to exchange of fiat currencies within the client’s accounts by means of the service provider venues. Clear.Bank configuration includes internal built-in limits, see the Currency exchange limits section for details. | Exchanged currencies The following currencies can be exchanged:
|
Currency exchange limits
The following limits are applied to fiat exchange transactions processed by Clear.Bank.
Currency | Minimum value |
CAD | 17 |
CHF | 11 |
CZK | 279 |
DKK | 86 |
GBP | 10 |
HUF | 4411 |
NOK | 134 |
PLN | 52 |
RON | 54 |
SEK | 135 |
USD | 13 |
EUR | 12 |
Cut off-times
Currency | Currency Code | FX Cut-off Time (Sameday) | FX Cut-off Time (Nextday/2 Days Time) | Multicurrency Payment Cut-off Time |
|---|---|---|---|---|
Czech Koruna | CZK | 8:30 | 22:00 | 8:30 |
Romanian Leu | RON | 8:30 | 22:00 | 8:30 |
Hungarian Forint | HUF | 9:30 | 22:00 | 9:30 |
Polish Zloty | PLN | 9:30 | 22:00 | 9:30 |
Swiss Franc | CHF | 11:00 | 22:00 | 11:00 |
Danish Krone | DKK | 11:00 | 22:00 | 11:00 |
Norwegian Krone | NOK | 11:00 | 22:00 | 11:00 |
Swedish Krona | SEK | 11:00 | 22:00 | 11:00 |
Euro | EUR | 14:30 | 22:00 | 14:30 |
British Pounds | GBP | 14:30 | 22:00 | N/A |
United States Dollar | USD | 17:00 | 22:00 | 17:00 |
Canadian Dollar | CAD | 17:00 | 22:00 | 17:00 |
The provided information is subject to change. Refer to Clear.Bank for up-to-date details: https://clear.bank/