/v2/reference/payment_purpose_codes

GET

Get a list of payment purpose codes for a given currency and entity type. When initiating cross-border payments, the central bank of the country may require a purpose to be included with your transaction in order for your payment to be accepted and processed. If a payment purpose code is required but not provided, your payment may be delayed or rejected by the beneficiary bank.

The API responses shown below are static. If you want to try out the API please login, or register for an API key

API parameters

Required
NameInTypeDescriptionEnum
X-Auth-Token header string Authentication token.
currency query string Currency in which payment made. Three-digit currency code.
bank_account_country query string Two-letter country code of the bank account.
Optional
NameInTypeDescriptionEnum
entity_type query string Legal entity type. Can be either 'company' or 'individual'. company
individual
 
curl -X GET  --header "X-Auth-Token: XXXX-XXXXX-XXXX"  https://devapi2.currencycloud.com/v2/reference/payment_purpose_codes

Response

{
    "purpose_codes": [
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "construction",
            "purpose_description": "Construction costs\/expenses"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "travel",
            "purpose_description": "Travel"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "office",
            "purpose_description": "Representative office expenses"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "exports",
            "purpose_description": "Payments for exported goods"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "travel",
            "purpose_description": "Travel"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "services",
            "purpose_description": "Information service charges"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "education",
            "purpose_description": "Education-related student expenses"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "transfer",
            "purpose_description": "Transfer to own account"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "office",
            "purpose_description": "Representative office expenses"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "delivery",
            "purpose_description": "Delivery fees for goods"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "goods",
            "purpose_description": "Trade settlement for goods and general goods trades"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "services",
            "purpose_description": "Information service charges"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "medical",
            "purpose_description": "Medical treatment and expenses"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "royalties",
            "purpose_description": "Royalty, trademark, patent and copyright fees"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "advisor_fees",
            "purpose_description": "Fees for advisory, technical, academic or specialist assistance"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "loan_repayment",
            "purpose_description": "Repayment of loans"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "insurance_claims",
            "purpose_description": "Insurance claims payment"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "advertising",
            "purpose_description": "Advertising and public relations-related expenses"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "insurance_claims",
            "purpose_description": "Insurance claims payment"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "construction",
            "purpose_description": "Construction costs\/expenses"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "other_fees",
            "purpose_description": "Broker, front end, commitment, guarantee and custodian fees"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "transfer",
            "purpose_description": "Transfer to own account"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "family",
            "purpose_description": "Family maintenance"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "advertising",
            "purpose_description": "Advertising and public relations-related expenses"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "property_purchase",
            "purpose_description": "Purchase of residential property"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "exports",
            "purpose_description": "Payments for exported goods"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "goods",
            "purpose_description": "Trade settlement for goods and general goods trades"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "advisor_fees",
            "purpose_description": "Fees for advisory, technical, academic or specialist assistance"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "insurance_premium",
            "purpose_description": "Insurance premium"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "share_investment",
            "purpose_description": "Investment in shares"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "hotel",
            "purpose_description": "Hotel accommodation"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "other_fees",
            "purpose_description": "Broker, front end, commitment, guarantee and custodian fees"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "utilities",
            "purpose_description": "Utility bills"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "transportation",
            "purpose_description": "Transportation fees for goods"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "company",
            "purpose_code": "delivery",
            "purpose_description": "Delivery fees for goods"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "family",
            "purpose_description": "Family maintenance"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "tax",
            "purpose_description": "Tax payment"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "transportation",
            "purpose_description": "Transportation fees for goods"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "fund_investment",
            "purpose_description": "Mutual fund investment"
        },
        {
            "bank_account_country": "IN",
            "currency": "INR",
            "entity_type": "individual",
            "purpose_code": "royalties",
            "purpose_description": "Royalty, trademark, patent and copyright fees"
        }
    ]
}
Error Codes
HTTP Status Code Description Params
400 currency_is_required currency is required
invalid_currency The currency specified was invalid
currency_is_too_short currency can not be shorter than 3 character(s) { "minlength" => 3 }
currency_is_too_long currency can not be longer than 3 character(s) { "maxlength" => 3 }
401 invalid_supplied_credentials Authentication failed with the supplied credentials
429 too_many_requests Too many requests have been made to the api. Please refer to the Developer Center for more information
500 internal_server_error Internal server error
503 service_unavailable Service is temporary unavailable
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