Domestic payments are transactions made from your Payhawk currency account to another bank account in the same currency, within a country where that currency is officially used. These payments are processed through local payment networks.
You can use domestic payments for any local transfers where both the sender and recipient accounts are in the same currency. For example:
If you make a payment from your GBP account in Payhawk to a GBP bank account in the UK, the transfer will be processed via the Faster Payments (FPS) local payment network.
If you make a payment from your BGN account in Payhawk to another BGN bank account in Bulgaria, the transfer will be processed via the BORICA local payment network.
(US-based companies only) If you make a payment from your USD account in Payhawk to a USD bank account in the US, the transfer will be processed via the ACH local payment network.
Similarly, regional bank payments are transactions made from your Payhawk currency account to another bank account in the same currency, within a region where that currency is officially used. These payments are processed through regional payment networks.
You can use regional payments for any regional transfers where both the sender and recipient accounts are in the same currency. For example, if you make a payment from your EUR account in Payhawk to a EUR bank account in the Euro Zone, the transfer will be processed via SEPA.
Payhawk also supports global FX payments and global same-currency payments.