A payment scheme is a set of rules that Payment Service Providers(PSP) have agreed upon to execute transactions through a specific payment instrument (such as credit transfer, direct debit, card, etc).
Please see the below table for payment schemes supported on Fincra.
|Payment Scheme||Currency||API Value||Settlement Time|
|SWIFT||MCY||swift||1-2 business days|
|FPS||GBP||fps||Within an hour|
|CHAPS||GBP||chaps||Within an hour|
|SEPA||EUR||sepa||Within 1 day|
|SEPA INSTANT||EUR||sepa_inst||20 seconds|
CHAPS payments can be sent between 08:00 – 17:00 Monday to Friday (excluding UK public holidays).
Currency: This refers to the destination currency.
Payment Scheme: This is the valid payment scheme used in the beneficiary region.
API Value: The accepted value of the payment scheme that is to be sent in the API request.
When do you need a payment scheme? When making payments to bank accounts in the currencies specified in the table, you will need a payment scheme
Nigerian Bank Codes
Please Note that this section applies to NGN payouts and not FCY payouts
Bank Codes are a required field when making NGN payouts or Transfers.
|Bank Code||Bank Name|
|044||Access Bank Nigeria Plc|
|063||Diamond Bank Plc|
|084||Enterprise Bank Plc|
|070||Fidelity Bank Plc|
|011||First Bank of Nigeria Plc|
|214||First City Monument Bank|
|058||Guaranty Trust Bank Plc|
|030||Heritage Banking Company Ltd|
|082||Keystone Bank Ltd|
|014||Mainstreet Bank Plc|
|076||Skye Bank Plc|
|039||Stanbic IBTC Plc|
|232||Sterling Bank Plc|
|032||Union Bank Nigeria Plc|
|033||United Bank for Africa Plc|
|215||Unity Bank Plc|
|035||Wema Bank Plc|
|057||Zenith Bank International|
Updated 4 months ago