We want to expand untapped corridors where correspondence arrangements are needed and are not available. Would we be allowed to make a correspondence arrangement with Banks in that territory?

See this answer for the correspondent tie-up agreement.

If you do not have an existing correspondent tie-up agreement in place you can do one of two things:

  • Start the necessary procedure to have a correspondent tie-up agreement in place, the sponsoring principal license holder will be happy to oblige to this. Do remember, that this is not something that happens in days, it can take a couple of weeks at best.
  • You can find, either for the interim period or indefinitely, a third-party correspondent that already has access to the beneficiary payout country of choice.

In both cases, our solution providers would be happy to oblige.

Suggested Video(s)

—

This page was last updated on December 2, 2024.

–

Related posts:

  1. Can we also market in the African corridors we are licensed in and send/receive payments between the African corridors?
  2. If we select to sign up for the Web/Mobile platforms for payments originating from the USA (beyond just API), do we have the option to use the SP’s platform for the African corridors?
  3. With a US sponsored solution provider for Remittance-as-a-Service, would we also be able to use Europe as sending corridors?
  4. Can I use an aggregator on the Starter plan and use the aggregator to payout to multiple countries (more than the allowed number)?
  5. Are armored carriers allowed to pick up cash from Bitcoin ATM Operators and deposit it into their vault account and then transfer it over to our account?