Global Banking API

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Kiopa_Matt

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May 13, 2011
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Been searching around, made a few phone calls, and can't find anything. I'm certain it doesn't exist, but can't hurt to ask.

I'm basically looking for a 3rd party banking service that connects to the various banking systems in the world. By that I mean sending / receiving deposits into US banks (routing + account#), Canadian (3 digit institution, 5 digit routing + account#), IBAN, SEPA, SWIFT, etc. And I'm not sure, but what does Latin America, India, Australia, and Russia use? Do they go off IBAN as well, or have their own systems? I know pretty much all of Europe and SE Asia go off IBAN though.

I want one banking relationship, receive various accounts to accept deposits from the different banking systems, and the ability to send funds to accounts via any of the banking systems. Also must have some type of API I can integrate the sends / wires with. Has to be professional, and on the up-and-up as well. No no-name banks with anonymous cards in Bolivia, or any of that shit. HSBC, or something to that effect.

Nothing like this exists, does it? Bitcoin obviously, which is why it's going to take over, but for traditional banking probably nothing, eh?
 


I'm not an expert, but First Data is the first place I would look into for all this. They are on all the continents.

www.firstdata.com

"Around the world, every second of every day, First Data simplifies the connections that make commerce possible for merchants, financial institutions and their customers."
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I know they have integration, since we used their backend to communicate with Wells Fargo and Chase - but we only serviced USA and some of Europe cause we were specialists. (I wasn't involved in the integration and backend communication, so I can't tell you what was involved, or if they can do what you are looking for, but I would guess there is a 70% chance they can and are doing it for the banks.)

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Australia is on the Swift system Matt. I also dont think a global banking API exists...I have never run across it before and a service like that would be handy as shit.
 
I'm basically looking for a 3rd party banking service that connects to the various banking systems in the world. By that I mean sending / receiving deposits into US banks (routing + account#), Canadian (3 digit institution, 5 digit routing + account#), IBAN, SEPA, SWIFT, etc. And I'm not sure, but what does Latin America, India, Australia, and Russia use? Do they go off IBAN as well, or have their own systems? I know pretty much all of Europe and SE Asia go off IBAN though.
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In a nutshell - SWIFT is the nearest thing to an 'international system'. This facilities inter-bank communications with the actual clearing and settlements handled by 3rd parties (based on the specific involved parties existing relationships.) IBAN is literally just a standard for bank account identification, and no, not all countries use it.

I want one banking relationship, receive various accounts to accept deposits from the different banking systems, and the ability to send funds to accounts via any of the banking systems. Also must have some type of API I can integrate the sends / wires with. Has to be professional, and on the up-and-up as well. No no-name banks with anonymous cards in Bolivia, or any of that shit. HSBC, or something to that effect.
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I think you've answered your own question here :) Your best bet is to get in touch with an international bank like HSBC. Speak to a member of their commercial team preferably at an offshore branch which will have more experience dealing in multiple currencies and territories.

This will smooth over a lot of the problems such as opening various accounts, if this is actually required. Although you will still run into issues due to legislation and regulation - which varies between territories. Not to mention software, because banking systems are legacy as fuck and complex, too.

PS. Speaking of Bitcoins, If this involves them, I highly doubt any bank will give you the time of day.. Good luck.
 
jonbird said:
In a nutshell - SWIFT is the nearest thing to an 'international system'. This facilities inter-bank communications with the actual clearing and settlements handled by 3rd parties (based on the specific involved parties existing relationships.) IBAN is literally just a standard for bank account identification, and no, not all countries use it.
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Huh? I thought Europe began abandoning the SWIFT system about a decade ago, moved over to IBAN, and are now trying to get everyone transitioned over to SEPA. Am I wrong?

Or is maybe SWIFT / IBAN / SEPA all one and the same? For example, if I send funds to an IBAN#, on the bank end is that translated into a SWIFT code + account# before the wire is sent out? If so, then that makes my job a lot easier. Just give me access to fire messages through the SWIFT network.

And I'm assuming with the proper relationship, the fees drop considerably? I remember doing this before, and being setup with deposits & withdrawals to/from CAD & USD accounts. Once I had the proper relationship in place, the transaction fee dropped from like $25 to $0.10.
 
SWIFT = secure network for exchanging information internationally between banks, swift/bic codes are a way of identifying banks on the network.
IBAN = standard for identifying bank accounts.
SEPA = EU payment network. Think this uses a network called target instead of swift which handles the clearing/settlement too, uses IBAN standard.

I think that's the general gist but don't quote me on it.. It's been a while.

In any case to initiate international transfers you usually need a SWIFT/BIC *and* IBAN in addition to account number, sort code, bank name, address etc. Exactly what data is required and in what format will depend on your bank.

Fees will change depending on: your bank, your relationship and the specific transfer. E.g. Inter-European transfer is cheaper than to NA, which is cheaper than to Iran or Nigeria or something..

An international bank like HSBC is the way forward basically. Explain what it is you are trying to do to their commercial team.
 
Realised that my replies have been pretty pedantic, lol.

If what you are saying is 'is there a banking Twillio' then basically, no, is the answer as far as I'm aware! I don't think something like that would be impossible strictly speaking - but due to regulation/AML/KYC/terrorism, different legislation and legacy systems - damn nearly I'd imagine.
 
jonbird said:
SWIFT = secure network for exchanging information internationally between banks, swift/bic codes are a way of identifying banks on the network.
IBAN = standard for identifying bank accounts.
SEPA = EU payment network. Think this uses a network called target instead of swift which handles the clearing/settlement too, uses IBAN standard.

I think that's the general gist but don't quote me on it.. It's been a while.

In any case to initiate international transfers you usually need a SWIFT/BIC *and* IBAN in addition to account number, sort code, bank name, address etc. Exactly what data is required and in what format will depend on your bank.

Fees will change depending on: your bank, your relationship and the specific transfer. E.g. Inter-European transfer is cheaper than to NA, which is cheaper than to Iran or Nigeria or something..

An international bank like HSBC is the way forward basically. Explain what it is you are trying to do to their commercial team.
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The SEPA system is TARGET2 now, but everything else is accurate. And yes, as you mentioned, unless you have at least a PSP license from a respectable country (Western Europe, US/Canada, AU/NZ, China, Japan, etc) or preferably, a banking license, what you're asking for is essentially impossible, and even then, it's incredibly unlikely. Closest you're likely to get is sending standard international transfers, which is slow (few days, if EU->EU, a day, maybe 2), but should cover the majority of banks.
 
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