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 |
Please Note
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 |
| 050 | Ecobank Nigeria |
| 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 |
| 301 | Jaiz Bank |
| 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 |