Operation Types
| Operation Type | Description |
|---|---|
SEPA | A cross-border payment initiative by the European Union to simplify bank transfers denominated in euros. It essentially treats cross-border euro payments exactly like domestic payments. This type covers both SEPA Credit Transfer and SEPA Instant. |
SWIFT | Is not a payment system itself, but rather a highly secure global messaging network used by banks to transmit instructions for international wire transfers. |
CARD_CASH | This generally refers direct operation between the cardholder and the card issuer/ATM network. For example ATM withdrawal made using a credit or debit card. |
CARD_PAYMENT | A standard transaction using a payment card (credit, debit, or prepaid) to purchase goods or services at a Point of Sale (POS) or online. |
CASH | Covers the physical movement of fiat currency into or out of a bank account, typically conducted at a branch. |
CASH_TRANSFER | A remittance service where funds are moved primarily via cash-in and/or cash-out agent networks. It serves unbanked populations effectively, allowing physical cash to be handed over in one location and picked up in another country within minutes. |
PIS | Is an open banking framework (heavily regulated under PSD2 in Europe) that allows licensed third-party providers to initiate a bank transfer directly from a consumerâs bank account to a merchant. PIS ultimately triggers an underlying bank rail (like SEPA or Faster Payments) to move the money. |
INTERNAL | An internal transfer is a âbook transferâ where money is moved between two accounts held at the exact same financial institution. Both the debtor and the creditor must be clients of the same bank. |
CRYPTO | The process of sending digital assets (like Bitcoin or Ethereum) from one blockchain wallet address to another. |
CRYPTO_EXCHANGE | An operation involving the trading of digital assetsâeither swapping fiat currency for crypto, or trading one cryptocurrency for another. CRYPTO_EXCHANGE Is treated the same as type as INTERNAL operation. This means that both parties (DEBTOR and CREDITOR) must be customers of the financial institution. |
FASTER_PAYMENTS | Is the official real-time banking payment system in the UK. It facilitates near-instant money transfers between UK bank accounts. |
You can always retrieve the full list of available operation types via Classifier API.
Financial Flow Direction
Financial flow direction refers to the movement of money between entities or accounts. It dictates which party role must be a customer and helps to determines which direction is used for money.Incoming
| Description | Party Role | Is Customer | Account Turnover Direction |
|---|---|---|---|
| Direct sender | CREDITOR | NO | OUT |
| Direct receiver | DEBTOR | YES | IN |
| Ultimate sender | ULTIMATE_CREDITOR | YES/NO | OUT |
| Ultimate receiver | ULTIMATE_DEBTOR | YES/NO | IN |
Outgoing
| Description | Party Role | Is Customer | Account Turnover Direction |
|---|---|---|---|
| Direct sender | CREDITOR | YES | OUT |
| Direct receiver | DEBTOR | NO | IN |
| Ultimate sender | ULTIMATE_CREDITOR | YES/NO | OUT |
| Ultimate receiver | ULTIMATE_DEBTOR | YES/NO | IN |
Internal
| Description | Party Role | Is Customer | Account Turnover Direction |
|---|---|---|---|
| Direct sender | CREDITOR | YES | OUT |
| Direct receiver | DEBTOR | YES | IN |
| Ultimate sender | ULTIMATE_CREDITOR | YES/NO | OUT |
| Ultimate receiver | ULTIMATE_DEBTOR | YES/NO | IN |
Flexible Fields
While most operations share basic fields (like amount and currency), some require specific data to ensure accurate risk scoring:- Card Operations: Include merchant details, MCC codes, and terminal info.
- SEPA/SWIFT: Focus on sender/receiver IBANs and intermediary bank details.
Other caveats
If operation party does not contain currency, the currency is inherited from operation currency. Exception inCRYPTO_EXCHANGE where creditor does not inherit operation currency even if the currency is absent.