*Russian Ruble (RUB) – Please note that we’re not currently supporting RUB transactions due to the conflict in Ukraine.

*Kazakhstan – From 1 January 2024, you will no longer be able to instruct new transactions to/from Kazakhstan. Any transactions involving banks or individuals/entities based in Kazakhstan will be blocked.

Restricted currencies

Please note that Indian Rupee (INR), Indonesian Rupiah (IDR), Malaysian Ringgit (MYR), and Philippine Peso (PHP) are restricted currencies, and the following restrictions are applied to them.

1. You cannot fund these currencies directly. They can only be bought by converting another supported currency (AUD, CAD, EUR, GBP or USD) and sold back only in exceptional scenarios.

2. You can make payments to India, Indonesia, Malaysia and the Philippines by converting AUD, CAD, EUR, GBP or USD funds to Indonesian Rupiah (IDR), Indian Rupee (INR), Malaysian Ringgit (MYR) or Philippine Peso (PHP). However, there are limits on the maximum FX order/Payment you can do.

INR 1,500,000 per day to any particular beneficiary
IDR 350,000,000
MYR 100,000
PHP 1,300,000

3. Please be aware that holding a balance in these currencies is not allowed. You need to pay all funds immediately. Please make sure you create payments on the back of each trade, so no surplus balance is outstanding.

4. Conversion roll to the next day is not allowed. That means that failure to send sold currency funds by the settlement cut-off time results in cancelling your conversions.

5. If your payment fails, you must correct the payment instruction and resend. Failure to do so may result in the automatic conversion of a restricted currency into another supported currency and will be subject to exchange rate fluctuations.

6. No traces or recalls are supported for the restricted currencies.

7. Payments to non-profit organisations, charities and charitable funds/institutions in Indonesia, India, Malaysia and the Philippines are not supported as local payments. To make these payments, you need to send them as USD payments via SWIFT.