Payee

Payees are external bank accounts to which payments can made from Fiat Accounts and Virtual Accounts. Different types of payments can be made to the same Payee depending on the bank details provided for the Payee at the time of creation.

Please be informed that payouts to Payees of different entities (owners) are forbidden. This means that only the End User who is the owner of the Payee, may initiate payments to it.

On creation, Payee's address object is required regardless of currency.
Creating Payee without providing this information will result in getting 400 Bad Request response.

Payee address can be updated (excluding the country). The format of the request does not change.

Additional details required only for USD Payees:

To create a USD Payee, the following additional details must be provided as part of the Payee's object:

• address: State field (however for non US addresses it can be province, voivodeship, region)
• for bank details you must provide either:
  • (bankDetails.iban , bankDetails.bic AND bankDetails.routingCodes ) OR
  • (bankDetails.accountNumber , bankDetails.bic AND bankDetails.routingCodes )
  • at least one of bankDetails.bankCountry OR bankDetails.bankAddressCountry must also be provided.

The bankDetails required for a Payee depend on the currency and the type of payment you want to make to the Payee.

When a Payee is created, the response contains a paymentSchemes param which tells you the Payment Schemes via which the created Payee can be sent a payment.

"paymentSchemes":[
      "FPS",
      "CHAPS"
   ]

"paymentSchemes":[
      "SCT"
   ]

"paymentSchemes":[
      "DE"
   ]

"paymentSchemes":[
      "SWIFT"
   ]

To maintain the highest standards of compliance and effectively restrict third-party payments, a Compliance Review is automatically initiated when there is a discrepancy between the Payee's name and the End User's name, ensuring all Payment processes are transparent and secure.

We work on Compliance Review during business hours.

Payee Statuses