Remittance

Remittance payments allow a user to send funds from an external source to a recipient in another country, often involving a currency exchange and cross-border processing.

These payments are typically used for sending money to family members, paying for services internationally, or transferring funds to a recipient’s foreign bank account.

Field	Value
type	REMITTANCE
origins	One internal account or external payment method.
destinations	One external bank accounts.

Ownership

Only the account owner has the privileges to initiate a remittance.

Settlement Time

The settlement time depends on the origin, destination country and the selected payment rail.

Bulk Payments

To perform a bulk payment for disbursement using REMITTANCE:

• Structure: one origin and multiple external destinations