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 possition is opened when receiving transfers in multiple currencies (within the same IBAN)

    • A new possition is opened when converting currencies (within the same IBAN)

Locations

Railsbank 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.