J.P. Morgan (SG)

Introduction to JP Morgan

JP Morgan is the banking provider we use to facilitate transfers from your bank account to a specific funding account.
How you route your transfers to your Nium funding account will determine how long that transfer will take.
Your remitting bank determines any charges incurred for your transfers.

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IMPORTANT:

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 on which banking partner to use for an optimal funding experience.

How long will it take for transfers to be added to a funding account?

The following are generic timeframes, with "T" being the day of booking and before the processing bank's cut-off time. Your Bank should be able to provide you with their own settlement cycles for each currency, 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.

Once JP Morgan receives a transfer, it is instantly credited to your funding account. This means that if a transfer is sent before your bank’s cut-off time and is received by JP Morgan (even after working hours) it will be available for you to use – effectively offering a 24/7 credit reflection.

All payments can be subject to screening which, in some instances, may cause a delay to the funds being applied.

Virtual Account Numbers (VAN)

JP Morgan provides a virtual account number for each funding account. You can use this virtual account number to transfer money to your Nium funding account. 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 found in the section How do I deposit money to a funding account .

Once JP Morgan receives the transfer, it will automatically be applied to your funding account.

How much does JP Morgan cost?

The only cost for using JP Morgan is the cost of a wire transfer applied by your bank or any intermediary bank involved in the payment process. JP Morgan does not add any additional bank charges.

Transfer types

There are two main types of payments that are routed via JP Morgan:

1. Local transfers in SGD
2. Wire transfers for all other currencies offered as defined earlier

SGD transfers

If you are transferring SGD from within Singapore, JP Morgan can receive both FAST and ACH transfers.
Funds must be routed through a wire transfer if you are transferring SGD from outside Singapore.

This is the routing information for an SGD transfer:

Transfers in other currencies

CNY Transfers

This is the routing information for a CNY transfer:

EUR Transfers

This is the routing information for a EUR transfer:

GBP Transfers

This is the routing information for a GBP transfer:

HKD transfers

This is the routing information for an HKD transfer:

USD Transfers

This is the routing information for a USD transfer:

Common causes for delays

Currency holidays for 2024

What if a transfer is delayed?

If your transfers do not reach your account within the expected timeframes, please email [email protected]  , with the proof of payment.

For cross-border transfers, please email [email protected] with the date that you sent the transfer and your transfer currency and amount. Please also attach the MT103 (Swift payment confirmation).

The MT103 is provided by your bank and includes the information below: