Core-X / Features / Transfers and payment rails
Transfers and payment rails
Customers can pay accounts at other banks. The customer sees the name confirmed by the receiving bank and the full cost before confirming.
Runs on a simulator until connected
What it does
- Name enquiry, then send. The fee schedule is a setting, with VAT and optional stamp duty.
- The fee is booked as income only when the scheme confirms the payment. VAT goes to its own ledger account.
- A failed payment is refunded in full: amount, fee and VAT.
- NQR merchant payments and card transactions on the same rail layer.
- Settlement files from the scheme are matched against the ledger, and customer disputes have their own queue.