A guide on what the different Payment Reason options are
For payments that are paid using an Ebury, you will be required to state the Payment Reason when processing the payment. Ebury needs this information to correctly meet the requirements for the payment when processing it through their banking providers as countries can have different rules about how payments are processed depending on what the payment is for.
This is set from a defined list by Ebury and the options are as follows:
- Charitable aid
- Payment for identifiable goods
- Direct capital investment in an enterprise
- Payment for identifiable services
- Repatriation of sale of identifiable goods
- Repatriation of sale of identifiable services
- Property purchase
- Mortgage repayment
- Property rental/maintenance
- Salary/Payroll
- Travel costs
- Living costs
- Repayment of a loan
- Balance sheet hedging
- Repatriation of revenues from investments
- Portfolio netting
- Other not related to identifiable goods or services (only Spot type)
- Other
If you are unsure on the reason for payment, selecting 'Other' is fine, or you can contact support@yordex.com to make sure.