Cross River Bank (US)
Cross River Bank Overview
Cross River Bank (CRB) is our banking provider for USD transfers.
📘 IMPORTANT: During onboarding, you will need to provide us with:
During onboarding, you will need to provide us with:
• your business registration country
• the countries from where your business is currently operating from and
• the country where your corporate bank account is located and from where funds will be transferred to your Nium account.Our teams will use this information to guide you for an optimal funding experience.
How much does CRB cost?
The only cost for using CRB is the cost of the transfer applied by your bank. CRB does not add any additional bank charges.
Transfer times
The following are generic timeframes. Your Bank should be able to provide you with their own settlement cycles, as these may differ according to your bank. Timescales may also be impacted according to your Bank’s cut-off time.
These timeframes are indicative and should only be used as a reference point.
| CURRENCY | TYPE OF TRANSFER | TIMEFRAMES |
|---|---|---|
| USD | ACH | 1-3 US Business Days |
| USD | Same Day ACH | Same Day |
| USD | Wire (domestic only) | Same Day |
Virtual Account Numbers (VAN)
CRB provides a virtual account number for each balance. You can use this virtual account number to transfer money to your Nium balance. Transferring money to a virtual account number is the same as sending a bank transfer to a regular account number. The virtual account number can be retrieved from the Nium Portal by following the instructions in the section How do I deposit funds into a Balance? How do I deposit money to a funding account.
Send a bank transfer to the virtual account number allocated to the balance to which you want to add money. This will route your money to CRB. Once CRB receives the transfer, it will automatically be applied to your balance.
Transfer types
There are three types of payments that are routed via CRB:
- ACH
- Same Day ACH
- Wire (domestic only)
This is the routing information for a USD transfer:
| BENEFICIARY BANK | CRB |
|---|---|
| Routing Code | 021214891 |
| Beneficiary Bank Address | 885 Teaneck Road, Teaneck, New Jersey 07666, United States |
| Beneficiary Account Name | Business Name - Refer to funding instructions |
| Beneficiary Account Number | The VAN can be retrieved from the Nium Portal |
Common causes for delays
| Issue | Description |
|---|---|
| Payment was made after your bank’s cut-off times | If your bank’s cut-off time is at 4:00 pm and you request payment to be sent at 4:15 pm, this payment will not leave your bank until the next processing time, which could also be the next day. Please ask your bank for their cut off times, as these may affect your outbound payments. |
| Weekends and bank holidays | Payments are not processed on weekends and bank holidays. The processing data will be the next available day (e.g., Monday in case of weekends). |
| Currency holidays | If when you are sending a payment it is a country holiday in the US, this may impact your transfer. Transfers can be expected to be deposited on the next working day. You can view the list of currency holidays here. |
What if a transfer is delayed?
If your transfers do not reach your account within the expected timeframes, please email prefunding.solutions@nium.com, with the proof of payment.