Clear Junction

Overview

Clear Junction is an open banking API and compliance platform with headquarters in London, UK. The service provider gives regulated and un-regulated companies access to global banking via API. The service provider is integrated to deliver local and SEPA transfers, account opening, and instant payments.

Default currencies

The following currencies are supported by the service provider and can be set as default:

EUR

Only one default currency is allowed for payment processing.

Supported regions

Companies from the following regions can integrate:

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

Prerequisites

An active financial services license is required to implement the integration. Contact your manager for additional details.

Website

https://clearjunction.com/

Products and services

The following table describes the services delivered by Clear Junction.

Service name	Description	Execution details
IBANs	The provider delivers a service of account opening. An IBAN identifies the account of a customer at a financial institution and allows to send cross-border transfers.	Account currencies It is possible to open an account in the following currencies: EUR (multi-currency accounts): A new position is opened when receiving transfers in multiple currencies (within the same IBAN) A new position is opened when converting currencies (within the same IBAN) Locations Clear Junction 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
SEPA transfers	SEPA (Single Euro Payments Area) transfers allow to send and receive payments in EUR within the eurozone.	Transfer currencies It is possible to send SEPA transfers in the following currencies: EUR Locations Clear Junction transfers can be sent to the following countries: 27 countries of the EU. 4 countries from the EFTA: Liechtenstein Norway Iceland Switzerland Microstates within EU: Vatican City San Marino Monaco Andorra The United Kingdom.
Faster Payments, CHAPS, BACS	Instant (24/7) interbank transfers that can be filled within one business day.	Transfer currencies It is possible to make faster payments in the following currency: GBP (Pound sterling) Locations Clear Junction faster payments can be executed inside the following country: The United Kingdom.
FX exchange	Clear Junction offers currency exchange services with specific limitations designed for bulk transactions by the provider rather than individual user exchanges.	Limitations and Limits Minimum Amount: 500 EUR, 500 GBP, 500 USD Maximum Amount: Equivalent to 200,000 EUR Daily Limit: Equivalent to 1,000,000 EUR Daily Transactions: 50 Operational Hours: 06:00 am to 03:00 pm UK Rate Provision Indicative Rates: Provided by ECB, used for system calculations like limit achievements or fee equivalents in another currency. Tradable Rates: Provided directly by Clear Junction, available only during operational hours. If requested outside these hours, an error is returned. Configuration To accommodate these limitations: Set minimum amount limits in the admin panel under Exchange -> FX amount limits. Configure operational hours in Exchange -> FX provider operational time.