Q:
While initiating a payment:
Initiate payment (Corporate Payout API)
using template_id: INTERCOMPANY_CROSS_BORDER_SE, we receive the following error:
"payment_status":"PAYMENT_REJECTED","payment_status_reason":"error.payment.regulatory_reporting_code_missing"
Why is that?
A:
Make sure you provide a valid purpose_code parameter (purpose code of money transfer as defined by Swedish Tax Authority/Skatteverket) in the request. Refer to the following list:
Swedish Tax Authority Payment Reporting Codes
Q:
We tried to refund a bank payment to the customer by calling:
POST corporate/premium/v2/payments
{
"amount": 29.99,
"debtor": {
"account": {
"type": "IBAN",
"value": "FI62 {redacted} 80",
"currency": "EUR"
},
"own_reference": "RE4{redacted}7"
},
"creditor": {
"name": "{redacted}",
"account": {
"type": "IBAN",
"value": "DE7520{redacted}5100"
},
"message": "RE4{redacted}7"
},
"currency": "EUR",
"external_id": "0123456e-a123-1be1-1fb1-af12a12345e1",
"template_id": "SEPA_INSTANT_CREDIT_TRANSFER_FI"
}
and we encountered the following error ("code": "error.validation",
"description": "Creditor bank is not eligible for sepa instant transfer."):
{
"error": {
"request": {
"url": "/premium/v2/payments"
},
"failures": [
{
"code": "error.validation",
"description": "Creditor bank is not eligible for sepa instant transfer."
}
]
},
"group_header": {
"http_code": 400,
"creation_date_time": "2025-01-20T11:52:30.289503501Z",
"message_identification": "16554d049007166e"
}
}
Is there a way to know which banks are not eligible?
A:
Nordea do not expose the list of banks eligible to receive instant payments. Each bank should share this information. If a creditor bank does not accept instant payments, we recommend you use SEPA_CREDIT_TRANSFER_FI template to process the payment: