Concepts
Account
An account represents the currency used to request Payouts. We configure the destination currency according to the model selected.
Balance
The Balance is the amount of money settled in your account. We have three different balances for Payouts; consult those types here.
Banking Connections
The Banking Connection technology allows us to send money to a payee regardless of the selected payment method.
FX Service
Foreign Exchange or FX refers to the current rate to convert one country’s currency to another. We update this value according to destination country regulations.
Payee
A Payee is a third party who will receive the money result of your Payout request. The information required for a Payee is their name, document, phone, e-mail address, and bank account.
Payout
Payout refers to disbursing funds to a third party using funds settled in your account.
Payout fee
The Payout fee refers to the processing cost of the Payout. This cost can be assumed by you (as a Payer) or taken by the Payee.
Payout models
Bamboo Payouts offers three models that means a combination of origin and destination currency.
USD to Local (USD2L)
The payout is requested in US Dollars and the payee receives the funds in local currency.
Local to Local (L2L)
The payout is requested in local currency and the payee receives the funds in local currency. In this model, the country of origin and recipient must be the same.
USD to USD (USD2USD)
The payout is requested in US Dollars and the payee receives the funds in US Dollars. Currently, this model is only available in Peru.
Sanction screening
Sanction screening lets us know if the merchant is making payouts to legally sanctioned persons. This process is essential as an Anti-Money Laundering (AML) and Payout limits control.
The output of this process determines whether the Payout requires manual validation.
