For institutions seeking rapid access to the Euro Area, Banking Circle is now offering Agency Banking and sponsorship using our clearing and settlement connection.
Clients can become indirect participants in SEPA Credit Transfer and issue bank account numbers (IBANs) with their own clearing or sort code and BIC.
With the euro the second most widely used currency in terms of its share of global payments, and the Euro area representing 11.9% of the global economy, it is a valuable market for businesses expanding into new geographies. Using Banking Circle as an Agency Bank, Banks and Payments businesses can provide customers with rapid access to this important market, at highly competitive rates, whilst remaining in full control of the customer relationship.
Benefits of Agency Banking:
• Access via SWIFT or API for easy integration
• Full payments transparency
• Our clients stay in full control of their customer relationship
• Access a range of cross-border payments solutions
• Highly competitive rates
With Agency Banking, Banks and Payments businesses can use Banking Circle’s clearing and settlement connection to become indirect participants in SEPA Credit Transfer. Using their own BIC for payments and collections presents our clients as sender or receiver, increasing payments transparency and reach, and allowing them to stay in full control of the customer relationship. Clients can also use their customer’s details, depending on individual preferences.
Access to Agency Banking is provided through a single integration via SWIFT platform or via API for all a Payment Business or Bank’s customers' payment and collections needs.