Currency Clearing
Direct Multi-Currency Clearing for High-Growth Banks
Bypass the traditional correspondent chain. Settle payments same-day through Meridian's direct clearing infrastructure, with competitive FX rates when settling in local currency.
Currency Clearing
Bypass the traditional correspondent chain. Settle payments same-day through Meridian's direct clearing infrastructure, with competitive FX rates when settling in local currency.
Powered by the Meridian RTD Network
Currency clearing is powered by the Meridian Real-Time Deposits (RTD) network — the proprietary infrastructure layer that enables the entire flow, from account issuance to instant settlement across USD, EUR, AED, SGD, HKD, NGN, and PHP rails.
Meridian's infrastructure is embedded inside partner banks and wallets. End-users interact with their trusted financial institution's app — never with Meridian directly. The partner owns the customer relationship. Meridian powers the capability.
How It Works
Meridian issues U.S. and EUR bank accounts in the name of each individual customer — corporate or retail — using the financial institution’s existing KYC. No re-verification, no onboarding drop-offs.
Dollars or euros sent to these accounts via ACH, Fedwire, RTP, SEPA, or SEPA Instant are received and processed by Meridian in real time.
Funds are instantly credited to the financial institution's account at Meridian. No batch processing, no end-of-day settlement.
The financial institution can hold in USD or EUR, or convert to local currency at competitive wholesale FX rates — transparent pricing with no hidden spreads.
Key Features
Each client of the bank gets a real US or EUR bank account in their own name, not a shared pooled account. This simplifies reconciliation and gives clients a direct receiving address.
USD: Fedwire, ACH, RTD. EUR: SEPA & SEPA Instant. No need to maintain separate correspondent relationships for each currency.
No waiting for batch processing or end-of-day settlement. Funds are credited the moment they arrive.
The financial institution chooses whether to hold in USD/EUR or convert to local currency per transaction. Conversion uses competitive wholesale FX rates — transparent pricing with no hidden spreads.
Native ISO 20022 messaging for institutional interoperability. Richer, structured data for seamless reconciliation and compliance.
Use your existing KYC — no re-verification required. Onboard customers instantly using the KYC you’ve already completed. No extra compliance steps and no onboarding drop-offs.
Technical Details
Controls & Compliance
Every transaction logged with complete lineage — from origination to settlement.
Balance, transaction, and settlement reports available via API and dashboard on demand.
Role-based access controls for treasury operations, compliance review, and client management.
Automated reporting formatted for FinCEN, BSP, and other relevant regulators.
All accounts and transactions screened against OFAC, PEP, and adverse media databases.
Integration
A single API integration replaces the traditional correspondent banking relationship. Issue accounts, receive funds, and settle — all programmatically.
Go from sandbox to production in weeks, not months. Meridian handles the banking infrastructure, regulatory compliance, and payment rail connectivity. You build the product.
Prefer a UI-based workflow? Institutions can also manage clearing operations directly through Meridian's Transaction Banking Portal — no API integration required.
View API documentationcurl -X POST https://api.meridian.com/v1/accounts \
-H "Authorization: Bearer sk_live_..." \
-H "Content-Type: application/json" \
-d '{
"type": "checking",
"owner": {
"name": "Maria Santos",
"email": "maria@example.com",
"country": "PH"
},
"institution_id": "inst_rcbc_001",
"currency": "USD",
"metadata": {
"client_ref": "RCBC-2025-48291"
}
}'
Proven at Scale
Meridian's currency clearing infrastructure launched in the Philippines with GCash and RCBC — opening 100,000+ accounts in the first quarter, with a 40% conversion rate from applications to issued accounts.
Users are already connecting to U.S. payroll processors, bill pay systems, PayPal, Wise, and brokerage accounts.
100K+
Accounts opened
40%
Conversion rate
Frequently Asked Questions
Meridian clears USD, EUR, AED, SGD, HKD, NGN, and PHP. We provide direct access to Fedwire and ACH for US dollar clearing, SEPA and SEPA Instant for euro clearing, and local payment rails for AED, SGD, HKD, NGN, and PHP. Financial institutions can hold funds in the original currency or convert to local currency at competitive wholesale FX rates.
Traditional correspondents deprioritize smaller high-growth banks, take months to onboard, and charge opaque fees. Meridian offers instant settlement, named accounts, transparent pricing, and onboarding in weeks — purpose-built for high-growth markets.
Yes. Each end-client of the financial institution receives a real bank account in their own name — not a pooled or omnibus account. This simplifies reconciliation and gives clients a direct receiving address for incoming funds.
Settlement is T+0 — funds are credited to the financial institution’s account at Meridian the moment they arrive. There is no batch processing or end-of-day settlement cycle.
Globally: SWIFT, Fedwire, ACH, RTD, SEPA, SEPA Instant. This gives financial institutions direct access to the major domestic payment systems in both the United States and the European Union without maintaining separate correspondent relationships.
Yes. The financial institution can choose to hold in the received currency (USD, EUR, AED, SGD, HKD, NGN, PHP), or convert to local currency on a per-transaction basis. Conversion uses competitive wholesale FX rates with transparent pricing — no hidden spreads.
No. While Meridian offers a full REST API for programmatic integration, institutions can also manage all clearing operations through the Meridian Transaction Banking Portal — a rich web interface that requires no technical integration.
Meridian operates a reliance model: your institution’s existing KYC is sufficient. When you onboard a customer to a Meridian-powered account, you use the identity verification you’ve already completed — no duplicate KYC process, no additional compliance steps for the end-client, and no onboarding drop-offs. This means account issuance is instant for customers you’ve already verified.
Meridian is a registered Money Services Business with FinCEN, holds a Florida Money Transmitter license, and is a registered Operator of Payment System with the BSP in the Philippines. All transactions are screened against OFAC, PEP, and adverse media databases, with automated regulatory reporting.
Schedule a conversation with our team. We'll walk you through the RTD network, discuss your corridors, and show you how quickly you can go live.