Division of roles
Who is accountable for what in a transfer chain
An international transfer involves several participants. This page shows who acts at each step and where the responsibility of MONTRA ends.
- User
- Partner
- MONTRA
- Payment rail
- Recipient
Division of rolesMONTRA provides technological infrastructure: it receives, processes and transmits financial information about transactions. The movement of funds is executed by licensed participants of the payment infrastructure in the relevant jurisdictions. MONTRA does not open accounts, does not hold user funds and does not transfer money on its own account.
The path of a single transaction
| Stage | Performed by | Note |
|---|---|---|
| Transaction initiated | User → partner | The transfer is created in the partner interface |
| Request received | MONTRA — information | The transaction parameters arrive through the API and are validated |
| Route determined | MONTRA — information | An available route and the participant of the direction are selected |
| Transaction carried out | Participant in the jurisdiction | Debiting and crediting belong to the settlement participant |
| Status delivered | MONTRA — information | The partner receives the final status and reconciliation data |
Whose perimeter holds the funds
MONTRA receives, processes and transmits financial information. The movement of funds is executed by licensed participants in the relevant jurisdictions. This is not a technicality but the boundary of the licence: information processing is our responsibility, monetary execution belongs to the settlement participant.
Payment system operator
provision of services for receiving, processing and issuing financial information (processing, clearing) on payments and settlements of third parties to participants of the payment system of this processing and clearing centre
Payment organisation
provision of services for receiving and carrying out payments and settlements for goods and services that are not the result of its own activity, in favour of third parties, through payment systems based on information technologies and electronic means and methods of payment
Settlement and segregation of funds
MONTRA does not hold user funds and does not transfer them on its own account, so no balances arise inside the company that would need segregating. Funds move through the accounts of licensed participants in the relevant jurisdictions.
What happens if the licence is withdrawn
This question should be asked before signing, so we ask it ourselves. The applicable procedure is set out in the public offer, and a link will appear here.
What else you should know
Pricing · Enquiries, claims and disputes · Licences and disclosure