Clear.Bank 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 - only EUR for now;
Virtual MCCY - only EUR for now.
Prerequisites
An active financial services license is required to implement the integration. Contact your manager for additional details.
Website
Products and services
The following table describes the services delivered by Clear.Bank.
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:
Cut-off times See the document provided by Clear.Bank: |
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 |