# Overview

Modern Treasury supports sending global payouts via [Currencycloud](🔗). Currencycloud is global payments platform that enables businesses to transact globally. With our integration, a company can pay counterparties via SWIFT wires or local payment rails.

There are two ways to use Modern Treasury and Currencycloud together. Both options have the same functionality.

  1. You can get approved by Currencycloud to use the Modern Treasury integration. This will grant you access to an account managed by Modern Treasury.

  2. If you are already a Currencycloud customer, you can connect your account to Modern Treasury. Then you will be able to manage all your payments activity in the Modern Treasury system.

Our integration adheres to the Currencycloud payment timelines. For reference, they can be found [here](🔗).

To setup Currencycloud, please reach out to your account manager.

# Sending payments with Currencycloud

The process for sending a payment with Currencycloud will resemble the flows for sending payments via a bank directly. You can refer to the guides [Sending a SWIFT wire](🔗) and [Sending a payout over local rails](🔗) for more information about how to structure these API calls.

# FAQs

## What happens if I initiate a payment outside Currencycloud's operating hours?

You cannot get a rate or make a conversion in Currencycloud between 5pm EST Friday to 9pm EST Sunday. So if you create a payment order between those times, we will hold off on sending the payment order to Currencycloud until the end of Sunday.

## If there is an issue with the payment, who communicates with me?

This depends on if you are bringing your own Currencycloud account or using ours. If you bring your own account, then you will be communicated with directly. If you use our account, then Modern Treasury will reach out to you for supporting evidence.

## How do counterparty and external account fields in Modern Treasury map to the [beneficiary](🔗) fields in Currencycloud?

Field in Modern TreasuryField in Currencycloud
`external_account.party_name``beneficiary.name`
`external_account.party_name``beneficiary.bank_account_holder_name`
`routing_detail.bank_address.country``beneficiary.bank_country`
`payment_order.currency``beneficiary.currency`
`external_account.party_address.line1``beneficiary.beneficiary_address`
`external_account.party_address.country``beneficiary.currency`
`external_account.party_address.locality``beneficiary.beneficiary_city`
`external_account.party_address.country``beneficiary.beneficiary_country`
`external_account.party_address.region``beneficiary.beneficiary_state_or_province`
`external_account.party_address.postal_code``beneficiary.beneficiary_postcode`
`routing_detail.routing_number``beneficiary.bic_swift`
`account_detail.account_number` _Used for `account_number_type=iban`_`beneficiary.iban`
`account_detail.account_number` _Used for `account_number_type=other`_`beneficiary.account_number`
`account_detail.account_number` _Used for `account_number_type=clabe`_`beneficiary.routing_code_value_1` _`routing_code_type_1` will be set to `clabe`_
`external_account.party_type``beneficiary.beneficiary_entity_type`
`external_account.party_name``beneficiary.beneficiary_company_name`
`external_account.party_name` _The first word. For example, "John" in "John Smith"_`beneficiary.beneficiary_first_name`
`external_account.party_name` _All words excluding the first word. For example, "Santa Cruz" in "Juan Santa Cruz"_`beneficiary.beneficiary_last_name`

## How do payment order fields in Modern Treasury map to the [payment](🔗) fields in Currencycloud?

Field in Modern TreasuryField in Currencycloud
`payment_order.amount``payment.amount`
`payment_order.currency``payment.currency`
`payment_order.statement_descriptor` _Defaults to "CURRENCYCLOUD WIRE" if not set_`payment.reason`
`payment_order.remittance_information` _Defaults to an internal UUID if not set_`payment.reference`
`payment_order.purpose``payment.purpose_code`