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

https://clear.bank/

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:

EU (European Union)
EEA (European Economic Area)
Other countries not included into international sanctioned lists

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:

EUR

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:

USD (United States dollar)
EUR (Euro)
GBP (Pound sterling)
CAD (Canadian dollar)
CHF (Swiss franc)
PLN (Polish złoty)
NOK (Norwegian krone)
DKK (Danish krone)
SEK (Swedish krona)
CZK (Czech koruna)
HUF (Hungarian forint)

Cut-off times

See the document provided by Clear.Bank:
Cut-off Times.pdf

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