FAQs
My transactions
Do you provide customers a unique IBAN number?
Yes, we provide our customers with unique IBAN numbers.
Does ECOMMBX have a BIC code?
Yes, we have our own BIC code (ECBXCY2N).
Do you support both SWIFT and SEPA transfers?
SEPA transfers are executed directly from our platform (we are direct members of SEPA), whilst SWIFT payments are executed through accounts, we maintain with our extensive banking network.
How do I execute a SEPA payment?
To execute a SEPA payment the below requirements must be fulfilled:
- The ordering account can either be a EUR account or any other currency account. In case the ordering account is not a EUR account the payment will be processed as a SEPA cross currency and relevant exchange rate fees will be applied due to the conversion.
- The beneficiary’s account should be a EUR account and member of SEPA.
- Both accounts (ordering and beneficiary) must be within EU.
- Charges should always be selected as “SHA”.
What documents do I need to provide to execute a transaction?
To avoid any delays in the execution of your transactions it is recommended that you provide supporting documentation (agreements, invoice etc) in advance. For your outgoing transactions you can upload the relevant documents through your internet banking. Please note that depending on the specifics of the transaction to be executed, either ourselves or an intermediate/correspondent bank may request additional documentation / clarifications.
What are the Cut-Off times for payment execution?
Cut-off times depend on whether your transfer is through SEPA or SWIFT. Our last cut-off time for SEPA is 16:30 (CET+1) for outgoing payments and 17:30 (CET+1) for incoming payments for same-day value payments, and assuming that the transaction passes through our internal reviews.
For SWIFT, our cut-off times are as follows:
| SWIFT | |
| EUR | 15:00 |
| USD | 14:30 |
| GBP | 12:00 |
*Times quoted are GMT+2
