- Supported Modes
- B2B, B2P, P2P, P2B
- Supported Currencies
- INR
- Network Participant
- Bank
- FX Source
- Live Interbank based rates available 24x7, including off-market hours
- Channels
- All banks in India
- Cutoff & delivery timing
-
Realtime, 24x7 up to INR 500, 000 via IMPS (List of IMPS enabled banks available)
Real Time subject to cut-off 18:00 local time via RTGS (All Banks)
Same Day via NEFT (All banks)
Nium will automatically select the fastest payment mode (IMPS, RTGS and NEFT in order) given the cut-off times and restrictions of the available payment modes.
- Mandatory data requirements
- Remitter Name Remitter Account Type Remitter Address Remitter Country Code Remit Purpose Code Remitter Identication Type Remitter Identification Number Beneficiary Name Beneficiary Account Type Beneficiary Account Number Beneficiary Country Code Beneficiary Bank Name Routing Code Type 1 - IFSC Code Routing Code Value 1
- Supporting Documents
- Remitter Beneficiary Relationship Nature of Business Duration of Contract Commercial Agreement Current Invoice
- Beneficiary Statement Narrative
-
- Bank Reference Number will be visible in Beneficiary's bank statement. The statement narrative in this corridor also depends on other factors so it might not be the same for all transactions.
- Proof of Payment
-
Upon request, Proof of Payment for a transaction can be made available.
- Notes
-
Trade transactions have a max amount limit of INR 1.5 Mn. List of trade purpose codes - IR01801; IR01802; IR01803; IR01804; IR01805; IR01807; IR01809; IR018011; IR014; IR020 Trade transactions are only supported for beneficiary accounts with banks other than HDFC. It is good to have Invoice Date and Invoice Number for Trade Transactions.
| B2B | B2P | P2P | P2B | |
|---|---|---|---|---|
| Min | 0 | 0 | 0 | 0 |
| Max | No limit | No limit | No limit | No limit |
- Supported Modes
- B2P, P2P
- Supported Currencies
- INR
- Network Participant
- Bank
- FX Source
- Live Interbank based rates available 24x7, including off-market hours
- Channels
- All major banks in India. List available.
- Cutoff & delivery timing
-
Real Time, 24x7
- Mandatory data requirements
- Remitter Name Remitter Identification Type Remitter Account Type Remitter Country Code Remitter Identification Number Remitter Purpose Code Remitter Address Remitter City Beneficiary Name Beneficiary Account Type Beneficiary Country Code Payout Method - PROXY Proxy Type (VPA) Proxy Value (UPI Address)
- Supporting Documents
- Remitter Beneficiary Relationship Nature of Business Duration of Contract Commercial Agreement Current Invoice
- Beneficiary Statement Narrative
-
- Bank Reference Number will be visible in Beneficiary's bank statement. The statement narrative in this corridor also depends on other factors so it might not be the same for all transactions.
- Proof of Payment
-
Upon request, Proof of Payment for a transaction can be made available.
- Notes
-
*Proxy Value is validated before initiation of a payment Value for proxy type should be 1. VPA #Trade purpose codes are not supported (refer notes for list of trade purpose codes).
| B2P | P2P | |
|---|---|---|
| Min | 0 | 0 |
| Max | INR 200,000 | INR 200,000 |
- Supported Modes
- B2B, B2P, P2P, P2B
- Supported Currencies
- INR
- Network Participant
- Bank
- FX Source
- Live Interbank based rates available 24x7, including off-market hours
- Channels
- All major banks enabled with SWIFT
- Cutoff & delivery timing
-
Same-day processing subject to cutoff of 7:30 UTC
- Mandatory data requirements
- Remitter Name Remitter Account Type Remitter Identification Type Remitter Identification Number Remitter Address Remitter Country code Remit Purpose Code Beneficiary Name Beneficiary Account Number Beneficiary Account Type Beneficiary Country Code Beneficiary Address Beneficiary City Beneficiary Postcode Routing Code Type 1 - IFSC CODE Routing Code Value
- Supporting Documents
- Remitter Beneficiary Relationship Nature of Business Duration of Contract Commercial Agreement Current Invoice
- Beneficiary Statement Narrative
-
- Ultimate Sender Name and narrative details will be passed as part of MT103 message to beneficiary bank.
- Details available on beneficiary statement will be dependent on beneficiary bank.
- Proof of Payment
-
MT103 can be considered as a proof of payment and can be provided on request
- Notes
-
For WIRES, NIUM supports transactions with SHA Fee Type
| B2B | B2P | P2P | P2B | |
|---|---|---|---|---|
| Min | INR 1,500,000 | INR 1,500,000 | INR 1,500,000 | INR 1,500,000 |
| Max | No limit | No limit | No limit | No limit |
- Supported Modes
- B2B, B2P, P2P, P2B
- Supported Currencies
- USD, EUR, SGD, GBP, AUD, CAD, HKD, JPY, CHF, NZD
- Network Participant
- Bank
- FX Source
- Live Interbank based rates available 24x7, including off-market hours
- Channels
- All SWIFT enabled banks in the country
- Cutoff & delivery timing
-
Same-day processing subject to cutoff of 07:30 UTC
- Mandatory data requirements
- Remitter Name Remitter Account Type Remitter Identification Type Remitter Identification Number Remitter Address Remitter Country Code Remitter City Remitter Postcode Beneficiary Name Beneficiary Account Type Beneficiary Account Number Beneficiary Country Code Beneficiary Address (Recommended) Beneficiary City (Recommended) Beneficiary Postcode (Recommended) Routing Code Value 1 Routing Code Type 1 - SWIFT Code Remit Purpose Code
- Supporting Documents
- Remitter Beneficiary Relationship Nature of Business Duration of Contract Commercial Agreement Current Invoice
- Beneficiary Statement Narrative
-
- Ultimate Sender Name and narrative details will be passed as part of MT103 message to beneficiary bank.
- Details available on beneficiary statement will be dependent on beneficiary bank.
- Proof of Payment
-
MT103 can be considered as a proof of payment and can be provided on request
- Notes
-
WIRES can be sent to all countries except for OFAC listed. MT103 can be provided on request. For foreign currency wire currencies USD, EUR, GBP - NIUM supports both OUR and SHA fee type while for other currencies AUD, CAD, CHF, JPY, NZD, HKD, SGD - NIUM supports only SHA fee type Processing of payments to Crimea, Donetsk, Luhansk, Sevastopol regions of Ukraine is prohibited. This list is subject to change.
| B2B | B2P | P2P | P2B | |
|---|---|---|---|---|
| Min | 0 | 0 | 0 | 0 |
| Max | No limit | No limit | No limit | No limit |
- Supported Modes
- B2B, B2P, P2P, P2B
- Supported Currencies
- INR
- Network Participant
- VISA
- FX Source
- Live Interbank based rates from NIUM are available 24x7, including off-market hours
- Cutoff & delivery timing
-
1. 24x7 Availability
2. Real-time for Fast fund Enabled (Details on fast-fund enabled countries available on request)
3. T+2 for other countries
- Mandatory data requirements
- Remitter Name Remitter Identification Type Remitter Identification Number Remitter Country Code Beneficiary Card Number Beneficiary Name Beneficiary Country Code
- Notes
-
For more information, please contact your NIUM account manager team. Additional information and approval from VISA is required before this payout method can be made available. Origination of funds is allowed only from a set of countries as mentioned in the table below. In case the transaction currency does not match the destination card issuer currency, amount will be converted and credited in currency of the card issuer. In few countries, only few banks may allow the transactions. Below additional daily/monthly/yearly limits applicable for P2P transactions whichever reached first Per Day - 30 transactions or USD 10,000 per Beneficiary card Per Week - 50 transactions or USD 25,000 per Beneficiary card Per Month - 150 transactions or USD 50,000 per Beneficiary card. Below additional daily/monthly/yearly limits applicable for B2P/B2B transactions whichever reached first Per Day - 30 transactions or USD 50,000 per Beneficiary card Per Week - 50 transactions or USD 100,000 per Beneficiary card Per Month - 150 transactions or USD 200,000 per Beneficiary card.
| B2B | B2P | P2P | P2B | |
|---|---|---|---|---|
| Min | 0 | 0 | 0 | 0 |
| Max | USD 50,000 | USD 50,000 | USD 2,500 | USD 50,000 |