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Ebury's Mass Payments client toolkit

We are pleased to share with you our new client toolkit. These comprehensive documents can support you throughout your use of our innovative online payments platform.

Last updated:
09/29/2026
Mass Payments
Ebury
Global growth, unlocked

We are pleased to share with you our new client toolkit. These comprehensive documents can support you throughout your use of our innovative online payments platform.

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Client cut off times

This document explains the cut off times and processing days incurred for each currency allowing you to accurately plan your payments.

Beneficiary requirements

This will outline the beneficiary information that we require to pay your beneficiaries in our extensive range of currencies.

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Multipayment spec sheet

This document outlines the formatting requirements for our multipayment upload file. The multipayment function allows quick and seamless execution of many payments in multiple currencies in one upload file.


Using a file to instruct bulk payments

Ebury offers clients an easy way to bulk pay beneficiaries. Their Multipayment functionality lets you book payments in many currencies and execute larger payment runs through a single file upload.


Formatting guidance

  • File can be .csv, .xls or .xlsx
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  • If using .csv, fields must be comma-delimited (,) and data enclosed in double quotes (" ") — e.g. "beneficiary name","beneficiary address","DE","EUR", etc.
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  • The first row is the header and is ignored on upload
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  • "Yes" = always mandatory; "*" = mandatory only when creating a new beneficiary (or conditionally, as noted in the description). if the beneficiary isn't already in the system, some additional fields become mandatory to create them — marked with a star (*)
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  • Cell data in columns 1, 2, 6, 7, 8, 9, 14, 15, 16, 18, 19, 24, 27, 28, 29, 30, 31 must contain no spaces
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  • For country code formats, see ISO 3166-1
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Payment file format

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Column Name Mandatory Description
1 Direction Yes BUY or SELL — used to calculate the payment amount (Column 8). No spaces.
2 Product Product for execution (default: 'SPOT'). No spaces.
3 Beneficiary Name * Name as per receiving bank account. Letters, numbers, and only these symbols: / - ? ( ) . , ' + { }. No accents or other special characters.
4 Beneficiary Address 1 Address of the beneficiary
5 Beneficiary City City of the beneficiary
6 Beneficiary Country Yes* Two-character ISO 3166-1 code (e.g. GB, US, ES, NL). No spaces.
7 Payment Currency Yes* Three-character ISO 4217 code (e.g. GBP, USD, EUR, AUD). No spaces.
8 Payment Amount Yes* Amount in the direction currency (Column 1). Decimals must use a dot (.). No spaces.
9 Settlement Currency Currency of the sell side of the trade. Currently ignored — chosen on the platform when uploading the file. No spaces.
10 Bank Name Name of beneficiary bank
11 Bank Address 1 Address of beneficiary bank
12 Bank City City of beneficiary bank
13 Bank Country Yes* Two-character ISO 3166-1 code (e.g. GB, US, ES, NL)
14 Account No * Account number of the beneficiary. Mandatory only if IBAN not entered (Column 15). No spaces.
15 IBAN * IBAN of the beneficiary. Mandatory only if Account Number not entered (Column 14). No spaces.
16 Swift Code * SWIFT BIC of the beneficiary bank. No spaces.
17 Payment Reference Payment narrative shown on beneficiary's statement. Numbers, letters, and some symbols only: . : + ( ) ? ' - (35 characters max)
18 Bank Code National Clearing Code of the bank account (e.g. UK sort code, US ABA or Fedwire number, Australian BSB). Mandatory for some currencies — speak to your account manager. No spaces.
19 Value Date Value date (the crediting date) of the payment, in DD/MM/YYYY format. If left blank, defaults to SPOT (T+2) where available. No spaces.
20 Remitter Name Name of the remitter
21 Remitter Address Line 1 Address of the remitter
22 Remitter Address Line 2 Address of the remitter
23 Remitter Account Number Account number of the remitter
24 Remitter Country Country of the remitter. No spaces.
25 Reason for payment Purpose or reason for payment. Mandatory for certain payment currencies and countries — speak to your account manager for more information.
26 Beneficiary reference A permanent, fixed payment reference assigned to the beneficiary (if creating for the first time). Pulls through as the payment reference on every future payment to this beneficiary.
27 Purpose code * (CNY payments only) 6-letter purpose code. No spaces.
28 INN * (RUB payments only) Registration Number in Tax authorities. Should consist of 10 digits (legal entities) or 12 digits (individuals). No spaces.
29 VO * (RUB payments only) Currency Operation Code. Should consist of 5 digits and start with "VO". No spaces.
30 KIO * (RUB payments only) Tax ID for foreign legal entities in Russia. 5 digits. No spaces.
31 Russian central bank account * (RUB payments only) 20 digits. No spaces.

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File upload troubleshooting

A guide to resolving multipayment upload errors with examples of cause and solution.

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Invalid File Ensure you are using the correct file format. For beneficiary upload files, the required format is CSV. For a multipayment upload, you can use CSV, XLS or XLSX. Examples of these can be found under the sample file dropdown menu when uploading a payment or beneficiary file.
Invalid Beneficiary Country This will occur when no country is added or the country doesn't match bank details provided on the beneficiary upload file. When adding this information to a file, the country will be in the form of a 2 letter country code e.g. GB for Great Britain. For more information please refer to Beneficiary Bank Data Requirements document provided by your account manager.
Invalid Characters Used This will occur if a document is uploaded with characters not recognised by the Ebury system e.g. É, &. The system may show the invalid symbol as "�". The only characters accepted by the system are alphanumeric and/or the symbols / - ? : ( ) . , ' + { }.
IBAN not valid This can occur for several reasons. Either the IBAN is not correct i.e. wrong digits, doesn't exist or it may not match the other bank details provided in the file, for example a HK country & GB IBAN. Issues can be resolved by double checking details with the beneficiary or making use of the free online IBAN checkers. Please also ensure there are no spaces before, inbetween or after the IBAN when either uploading a payment/beneficiary file or manually.
Bank account already exists Occurs when uploading a beneficiary to the system that has already been uploaded. Please note that this includes the same banking information. If there has been a change to the beneficiary's banking details please delete the previous entry and create a new one. For more information please refer to our user guide or speak to your account manager.
Invalid amount This can be as a result of entering an amount in the wrong column of the payment file or using non numeric text. Please recheck file to ensure all columns have been filled out correctly. This could also occur if the amount field is not formatted as 'number' in your file.
Bank country and country of SWIFT code do not match This can either be because the SWIFT doesn't match the country given or that the SWIFT code is wrong. To check a swift you can upload the IBAN to a free online 'IBAN checker', that will provide the likely SWIFT code that accompanies the IBAN. Please confirm all details with your beneficiary directly before uploading.
Invalid Value Date This will be if the desired value date on a payment file is not achievable as a result of non-working days such as weekend or bank holidays. Please refer to the bank holiday calendar sent by Ebury each month via email or on our LinkedIn page. This error also occurs if the value date has already passed.
Invalid Bank Country This may be if the bank country does not match the bank details (e.g. SWIFT, IBAN, account number) provided. You could also see this error if the country is not in the correct format i.e. 2 letter country code.
Invalid character or exceeded max length This can occur if there are additional characters or too few characters in some of the banking/beneficiary details provided. For further information on country specific requirements, please refer to the Beneficiary Bank Data Requirements document provided by your account manager.
Other troubleshooting: Ensure only the details needed specifically for the beneficiary country are filled out on the multipayment upload file. For example columns AA-AE on the sample multipayment file are only for a Russian bank account beneficiaries.

Raw bank data can often be provided with additional unwanted characters, such as a series of 'X' at the end of a SWIFT code. These can sometimes prevent a file uploading on the system so ensure only essential characters are added.

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Frequently asked questions

Frequently asked questions and quick tips to streamline your experience and build your knowledge of our payments booking platform

Mass Payments FAQ

When will Ebury send my payments?

Our payment specialists will send your funds to ensure that value date is achieved. Processing time can vary depending on the currency and location. Please see our Currency Cut Off document for a full guide.

What do I do if funds have not been received by my beneficiary?

Contact your dedicated client relationship manager as soon as you are aware. They will advise on next steps.

Are there any minimum/maximum restrictions?

We can typically facilitate any size transaction, however in emerging markets there may be limits from a liquidity perspective. Speak to your client relationship manager for more information.

I already have an account with Ebury, is this the same?

No - we (Ebury Mass Payments) are a separate service with different requirements. Your two accounts cannot be merged. Please contact your client relationship manager with any questions.

How do I know the cut off times?

Please refer to our Currency Requirement and Cut Off Times document supplied through your client relationship manager.

Is my money safe?

We are authorised by the Financial Conduct Authority in the UK under the Payment Services Regulations 2017. Under these regulations we must ensure we have safeguarded your funds by appropriately segregating them from business funds in line with regulatory requirements.

What are correspondent details?

A correspondent bank is a bank that provides services on behalf of another. When you make payments to a foreign bank, a correspondent bank may use it to route your payment to its final destination.

Why do I have to state the reason for trade?

This is required from a compliance point of view, to satisfy our due diligence.

Why do you need more information about my beneficiary/reason for payment?

Some currencies require further information when sending payments. For example, PKR will require a reason for the payment attached. Please refer to the Beneficiary Bank Data Requirements document provided by your client relationship manager.

What does T+X mean?

T+X refers to the number of days a particular currency takes to settle. 'T' refers to 'Today' and the number refers to the number of additional days taken to settle. For example T+1 means a currency will take today plus 1 more day to settle. Please note the days refer only to working days when markets are open.

Commonly used terms

2FA
Two-factor (2FA) or multi-factor authentication (MFA) is an additional security layer for your account — helping to address the vulnerabilities of a standard password only approach. This can be set up for your Ebury account either through an SMS code or a 2FA app such as Google Authenticator.
BAI
Bank account inactive. If the account intended to be used for a payment is inactive, the payment will reach a Hold Queue with status BAI.
BBAN
Basic bank account number. This represents a country specific account number on a local, in-country level.
Beneficiary
The recipient of the payment i.e. a company or individual.
BUY
The currency that you are sending to the beneficiary.
CDI
Client destination inactive. This may occur when the final desired destination of a payment cannot be paid. For example, due to sanctions.
Cut-off time
The time in the day by which a trade needs to be funded and payment authorisations completed to achieve the desired value date. For example, the GBP cut off time is 9AM GMT and is a same day value currency. Trades and payments not funded and authorised by 9AM would default to the next working day for value.
DAC
Destination account has changed. If the destination account to be used in a payment does not exist or the details are incorrect, the payment may be held or returned.
Faster payment
UK payments agreement between financial institutions to clear payments within seconds.
Fixed forward contract
A booking made in advance, to settle on a specific, agreed date, at a fixed rate.
Funding/settlement
This is the term used for the funds that you send to Ebury being applied to 'fund' the trade i.e. what you are selling.
IBAN
International Bank Account Number. The number used by banks on an international level to identify specific accounts. Length and structure denominated by location/currency.
Know your customer (KYC)
This refers to the responsibility to independently verify the identity and to assess and monitor the customer risk. Where requests are received, always spend additional time confirming that the request is genuine and is in line with the usual activity of your customer.
Maturity date
Maturity or maturity date is the date on which the final payment is due on your FX transaction. Not to be confused with value date.
MT103
These are documents requested from banks that are bank-level proof that a payment has been successfully executed. These can help trace funds where there is a delay or query on the receiving end. They can be requested by your account manager, only if the payment hasn't arrived past the expected value date.
Multipayment
The term used for the booking of multiple simultaneous payments via file upload.
'N' eyes
This is a process which enables you to have additional levels of verification on your payments. This can be customised as you need (up to 4 levels of approval), to allow for further control over the release of your payments from the platform.
Payment
Each payment is one individual transaction. There can be multiple payments on one trade.
Pegged currencies
An agreement between 2 countries to fix the exchange rate between the 2 currencies e.g. USD/AED.
SEPA
Single Euro Payment Area. A Euro payment between countries listed in the SEPA agreement.
SOF
Source of Funds. This is confirmation from a compliance perspective of the source of where incoming funds are coming from.
SELL
The currency you are sending to settle with Ebury.
SPOT
A foreign exchange spot transaction, also known as FX spot, is an agreement between two parties to buy one currency against selling another currency at an agreed price for settlement on the spot date. The exchange rate at which the transaction is done is called the spot exchange rate.
T+X Days
T+X refers to the number of days a particular currency takes to settle. 'T' refers to 'Today' & the number refers to the number of days taken to settle. For example T+1 means a currency will take today plus 1 more day to settle. Please note the days refer only to working days when markets are open.
Trade
This is the term used to refer to the transaction you have booked on the system.
Trade ID
The unique reference number assigned to the trade e.g. FXFOTR123887.
UETR Code
Unique end to end transaction code. This is a string of 36 unique characters which is included in payment instructions via SWIFT.
Value date
The date that funds will credit the beneficiary account.

If you have any questions or queries on any of these documents, please do not hesitate to contact your account manager. We are constantly updating these documents, and the most recent versions will always be available in this toolkit. Please check back frequently for updates. Please contact your account manager for any further queries at the below details:
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Ebury Mass Payments Ltd
Tel: +44 1494 484183 | Email: masspayments@ebury.com

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‍Ebury Payments Pte Ltd
Tel: +65 6817 5248 | Email: singapore@ebury.com
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Ebury Mass Payments Limited is Authorised and Regulated in the UK by the Financial Conduct Authority under the Payment Services Regulations 2017 for the provision of payment services (FRN577057) and regulated by HMRC (MLR12572236). Ebury Mass Payments Limited is a registered company in England and Wales (7061945). Ebury Payments Pte Ltd is authorised and regulated in Singapore by the MAS under the Payment Services Act (Licence No. PS20200148). Ebury Payments Pte is a registered company in Singapore (201733573G). Our corporate bankers hold all client monies in segregated accounts.

Ebury
Global growth, unlocked

About  Ebury

Helping businesses unlock 
their global growth potential

Ebury is a global fintech powering international growth for ambitious businesses in a frictionless economy. With majority backing from Santander, we offer an integrated, cross-border platform for payments and currency risk management, together with local market expertise.

Ebury is a global fintech powering international growth for ambitious businesses in a frictionless economy. With majority backing from Santander, we offer an integrated, cross-border platform for payments and currency risk management, together with local market expertise.

50+

Offices Worldwide

30+

Regulated Markets

1.9M+

Payments processed in 2025

25K

Transacting clients