Currency Alert Archive
New Purpose of Payment/Documentation Requirements
Please provide Purpose of Payment for the following currencies:
IDR- Indonesdian Rupiah: (Please consult the currency guide for complete list). KRW- South Korean Won (For amounts over USD 20,000 equivalent, documentation is also required by the remitter based on the purpose stated in details as well as the beneficiaries telephone number). MYR- Malaysian Ringgit: (Please consult the currency guide details for formatting requirements). NPR- Nepalese Rupee: Purpose of payment must be provided.
KES - Kenyan Schilling
Please note that MT202's are not supported in this currency. Movement of KES between two off-shore banks is not permitted. Customer's can not be a financial institution.(Nov 10th,2011)KES - Kenyan Schilling is now available again. It had been temporarily unavailable since Oct 25,2011 due to a change in FX controls.
IBAN requirements for:
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AED - United Arab Emirates by November 19,2011 (three month grace period will be granted ending Feburary 17,2012).
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BHD - Bahraini Dinars by January 31, 2012
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TRY - Turkish Lira by January 1,2012 (Requirements Postponed to 2013 as of Dec 23,2011)
LBP- Lebanese Pound
Effectively immediately, the purpose of payment is required for all deals.
Minimum Threshold for the Following Currencies:
- HKD- Hong Kong Dollar of HKD 150.00 per payment.
- IDR - Indonesian Rupiah of IDR 200,000 per payment.
- UGX - Ugandan Schilling of UGX 50,000 per payment.
VND - Vietnamese Dong
Please note that the Bank Code number is no longer a requirement.
PYG - Paraguayan Guarani
We are only able to make PYG payments to beneficiaries that hold their PYG accounts with Itau/Interbanco and Citibank Paraguay branches.
PEN - Peruvian Nuevo Sol
Additional requirement: Beneficiary Tax id number (RUC) must be included with payment detail.
CRC - Costa Rican Colon
Additional requirement: Beneficiary Tax id number (Cedula Jurdica) must be included with each payment detail.
AZN - Azerbaijan New Manat
Effective immediately AZN has been re-enabled. Payments in AZN are available again. The reason for the interruption was a technical one, not the merit of any changes in the market place.
COP - Colombian Peso
FX4Cash announces a temporary change in it's abilility to delivery COP.
Unfortunately, we will only be able to deliver COP when the beneficiary account resides with the following banks:
Banco de Bogota , Bancolombia , Banco de Occidente, Banco AV Villas, Citi Bank, Helm Bank,
Please note that Pre-trade requirements otherwise have not changed. Below is a copy of the currency guide with the pre-trade requirements.
RSD-Serbian Dinars
Both paymens and receivables, pre-spot and spot are available.
EGP-Egyptian pounds
We are now able to make payments only for value spot. Please provide purpose of payment.
XOF-Ivory Coast
FX4Cash has suspended transactions to the Ivory Coast only, the RTGS system at the regional Central Bank continues to be suspended.
KWD- Kuwaiti Dinar
Introduction of the use of IBAN for all inward an outward commercial transfers between local banks.
Payments to ISK, MKD and VEF are temporarily suspended.
Payments to ARS maybe available over USD50,000 threshold