You can collect funds from third-parties in all of the un-restricted currencies available above.

Funds must arrive from one of our permitted jurisdictions. You can see the full list of permitted jurisdictions here.

Yes, named accounts will be provided.

No further reference is required to receipt funds to your named account.

Funds are subject to the cut-offs and timelines of the sending bank used by your customer and the clearing system for the given currency. Once the funds arrive, they are credited to your account within an hour, provided they are referenced correctly by your customer.

We provide you with as much information as we receive from the sending bank when it comes to who has sent you funds. This information can vary depending on the bank sending the funds. The main fields available are ‘reference’ and ‘name’. Some banks will also provide the address details.

Sending funds via the SWIFT network is subject to correspondent banking fees. These fees occur when the sending bank and the beneficiary bank do not have a direct relationship, so an intermediary bank is required to forward the payment. This intermediary (or correspondent) bank will often take a fee for forwarding this payment.

Yes! Novatti xB offers local collections in EUR, USD, CAD and GBP which are not subject to these correspondent bank fees. We’re continuously adding more currencies to this list, so if you’re interested in hearing more about our Collections capability, please speak directly to your Account Manager for more details.