Give your customers a US bank account
Diameter holds named accounts at top US banks and exposes wire and ACH through APIs, so a bank outside the US can move dollars without building US access itself.
Diameter Pay is a New Jersey licensed money transmitter, licence L070801, founded at MIT.
Wire to Harlow Freight Lines
Today, 09:41 Eastern
18,432.65USD
- Originating bank
- Anatolia Commercial Bank ••4417
- Beneficiary account
- Harlow Freight Lines ••0932, Newark NJ
- Rail
- Fedwire, same day
- Screening
- Sanctions clear, monitoring pass
Released to the wire after screening
G20
currencies held in custody alongside US dollars
A bank that settles in several currencies can park balances in the one it needs to pay out, instead of converting at every hop. Source
- Wire and ACH are both offered as APIs.
- The company was founded at the Massachusetts Institute of Technology.
A Monday wire from Istanbul to Newark
One payment from a bank customer abroad, followed until the beneficiary has the dollars.
09:41:02
Instruction arrives
An API call carries the beneficiary, amount and purpose code from the originating bank.
09:41:03
Names and patterns screened
Sender and beneficiary are checked against sanctions lists, and the amount against the sender's usual activity.
09:41:06
Wire released
The payment leaves from the institution's named US account over Fedwire.
Dollars land in Newark the same business day.
Your institution gets its own US account name
Payments leave from a named account at a top US bank rather than a pooled one, so the beneficiary sees your institution on the statement. Balances can sit in dollars or any G20 currency.
Named account, sample setup
- Account name
- Anatolia Commercial Bank FBO clients
- Currency
- USD
- Rails
- Fedwire, ACH
- Custody
- USD and G20 currencies
Screening runs before the wire is released
Sanctions screening and transaction monitoring are automated, so a payment is checked in the same call that submits it. Holds and clears are logged against each payment.
Screening log, payment 48213
- Sanctions lists
- Clear
- Name match score
- 0.12
- Monitoring rule
- Pass
- Decision
- Released