Sanctions Screening
NEXUS GATEWAY & SCHEME
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Sender Confirms Payee and Clicks “Send payment”
In the final step the Sender is asked to check all the details before they click “Send Payment”.
Specifically, they will be shown:
    Confirmation of Payee (where available): This will show EITHER the name or nickname of the recipient OR a confirmation that the name they provided is a near or exact match to the recipient account.
    The amount to be sent, in the Destination Currency
    Any fees charged to the Recipient by the Destination Bank; the Sender may be given an option to cover these fees if they wish to
    The FX rate applied to the payment
    The exact amount that the recipient will receive (in the Destination Currency)
      (As described in the user requirements above, any fees charged by the Recipient’s bank must be charged as a separate line item rather than a deduction from the amount sent. This aids the Recipient in reconciling amounts receive against invoices issued and makes the banking charges transparent.)
If the Sender does not wish to proceed with the payment, they can cancel at this point or go back in the process to change any of the details as necessary.
If the Sender is happy that the Recipient account is correct and they agree to the charges and FX rate, they can now complete the payment request by clicking on “Send Payment”. This initiates the payment instruction through the Source IPS, Nexus Gateway and Destination IPS.
The user will see a “Payment being sent” screen for a number of seconds until the Nexus Gateway confirms that the payment is complete. Finally, the Sender is shown a notification that the payment is a success.
The payment is confirmed immediately
If the payment fails for any reason, the Sender will be told that something has gone wrong and they have not been charged. There will be an option to retry the payment (unless the problem is due to a failed sanctions screening check).
Last modified 2mo ago
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