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.

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)
• bank details:
  • IBAN + BIC (optional bank country) - for IBAN countries
  • Account Number + BIC + Bank Country - for non-IBAN countries
    
    

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