act-sample-bg14_small

Domestic intermediary bank

Domestic intermediary bank

  • Domestic customer bank forwards payment files to foreign banks abroad via SWIFT network (Request for Transfer MT101)
  • Payments sent as an international payments to banks
  • Retrieval of an account statement for an account with foreign bank (MT940)
Domestic

Pros

  • Easy to take into use: contracts with domestic and foreign banks
  • Local and foreign payments in different currencies from ERP
  • Retrieval of foreign account statements and processing similarly as from domestic banks

Cons

  • Service price can be high for large transaction volume
  • Does not support internal country specific payment methods