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IFX
Overview
IFX Payments is a financial service provider that has built its own FX and payments infrastructure to offer clients quick, secure, and cost-effective solutions. Whether it’s a single transfer or an international payroll run, IFX Payments provides global cross-border payment solutions designed to save customers time and money. Crassula is currently integrating IFX Payments to enhance its banking and payment solutions for clients.
Default currencies
EUR (Euro)
GBP (British Pound Sterling)
USD (US Dollar)
Supported regions
IFX Payments supports all regions where SEPA, UK local transfers (FPS), and SWIFT payments are accepted.
Prerequisites
KYC/KYB Procedures: Customers must complete KYC/KYB verification using SumSub.
Monthly Turnover Information: Collected via a questionnaire.
Account Creation: Initiated manually or upon client request after KYC/KYB completion.
Profile Activation: Mandatory profile fields must be filled to activate accounts.
Additional materials
Website: IFX Payments
API Documentation: Ibanq Connect API
Products and Services
The following table summarizes the functionality implemented with IFX:
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 | Yes |
SEPA Credit Transfer (SCT) | Yes |
SEPA Instant (EUR-3) | No |
Target2 (EUR-1) | No |
SWIFT | Yes |
Direct Debit (BACS, SEPA) | No |
CHAPS (UK) | No |
Faster Payments (UK) | Yes |
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 | No |
Refunds (incoming, outgoing) | No |
Dynamic payments (Bank transfer) | No |
Convert & Send | No |
CoP (Confirmation of payee) | No |
Provider dashboard | Yes |