Payment Rails and Pricing

Payment Rails

Payment Rails are the channels or payment clearing networks through which funds move to or from a Corporate Account. Our platform distinguishes these rails by two designations for pricing purposes: 'urgent' and 'normal'.

• Urgent Rails: High-value channels with near-ubiquitous market membership and real-time gross settlement, such as:

  • SWIFT
  • CHAPS (GBP)
  • Target2 (EUR)
  • Fedwire (USD)

• Normal Rails: Lower-value channels with limited membership and net settlement, such as:

  • Faster Payments (GBP)
  • BACS (GBP)
  • SEPA (EUR)
  • ACH (USD)

Rail Selection: The rail used depends on the networks of the sending and receiving banks. If both banks are members of the same 'normal' rail, that rail is used. If not, an 'urgent' network is used. If neither bank is on the same network or has an account relationship, the payment will fail.

Rails by Currency

*Faster Payments can be used for payments up to £1,000,000. For amounts above this, CHAPS will be used.

**BACS is for receiving GBP payments only; it is not used for outbound GBP transactions.

Payment Settlement Times

Settlement times indicate how long funds will take to reach the beneficiary's account after payment completion at Orbital.

Processing / Cut-Off Times

Cut-off times represent the end of processing for transactions on that day. Transactions submitted after the cut-off time will be processed the following business day.

*Payments between two Corporate Accounts on the Orbital platform of the same currency are processed 24/7/365.

**GBP payments can be processed 24/7/365 if less than £1,000,000 and the counter-party’s bank is a member of the UK’s Faster Payments network.

Transaction Limits

• Maximum Amount: No limit on the maximum amount that can be sent or exchanged from a Corporate Account.
• Minimum Amount: The minimum amount for a single transaction is 0.01 unit of currency greater than the transaction fee. For example, if the fee for a USD payment is $35.00, the minimum transaction amount is $35.01.

Settlement Instructions

Settlement instructions provide routing directions for payments. Required details include the beneficiary’s bank identification code (e.g., SWIFT address, sort code), full name, and account details (IBAN for EUR).

FX Capabilities

Currency exchange can occur between Corporate Accounts on the platform or from a Corporate Account to a Digital Asset Vault. Payments to/from an external bank account must be done in a single currency.

Example: To make a payment from a USD Corporate Account to a EUR account at another bank, first transfer funds from the USD Corporate Account to the EUR Corporate Account on Orbital. Then, send the funds from the EUR Corporate Account to the external EUR account.

Pricing

Pricing is divided into four parts: account services, book transfers, money in (deposits), and money out (payments).