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Process Flow Section
UK & EU
Detailed process flow
Fund flow
Data flow
€ / £
vIBANs
3
UK/EU
4
Clear Junction
1
€ / £ Account
Daily settlement (€/£)
5
6
YOUR BANK
2
(recipients)
1
Using the API integration, your bank issues named virtual IBANs for its clients at scale.
2
Clients (recipients) receive bank details to share with senders.
3
Your bank’s client shares virtual IBAN details with sender.
4
Sender initiates transfer via local rails in the UK or EU.
5
Funds are credited to your bank’s EUR or GBP account and safeguarded.
6
Settlement to your bank’s nostro account, or onward payout.