Central African CFA Franc (XAF)
Everything you need to know about XAF collections, conversion and payouts on Verto
Supported Countries
- Cameroon (Domestic)
- Chad
- Gabon
- Republic of the Congo
The following countries are not supported - Central African Republic and Equitorial Guinea
Account Type and Limits
| Parameter | Details |
|---|---|
| Account Type | Pooled/Virtual Account |
| Inbound Transaction Limit | 99M XAF per transaction |
| FX Limit (Per Liquidity) | Up to 5M USD per day |
| Invoice requirement | Invoice name must match sender name on payment |
Requirements
Pooled Account
- Client will generate account details for each sub-account within verto's system
- Funds are pooled and mapped using a SmartWalletID
- Merchant must include SmartWalletID in the payment description
- Verto will automatically reconcile the funds to the correct sub-account
- Required so Verto can link invoices to merchants directly.
Virtual Account
- Follows the same process used for TZS, NGN and KES integrations.
- Virtual account is opened in the merchant's name
- Before payment is applied:
- Invoice must match both sub-account owner (seller) and payment sender(buyer).
- Amount must match the API payload to comply with risk restrictions
Bank Information
| Field | Details |
|---|---|
| Bank Name | Credit Communautaire d'Afrique-Bank SA |
| SWIFT Code | CCAMCMCY |
| Regional Clearing Code | 100329 |
| Country Code (Cameroon) | CM21 |
| Primary Bank | CCA Bank Cameroon |
This clearing code and country are embedded in the IBAN and are typically not required seperately. However, some banks may still request them.
Payment Timelines
| Corridor | Settlement Time |
|---|---|
| CCA -> CCA | Within 5 - 6 hours |
| Cameroon -> CCA | Within 1 working day |
| Chad, Gabon, Republic of the Congo -> CCA | Within 3 working days |
Risk Restrictions
- Cash deposits are not permitted; related transactions will be blocked.
- Invoice required per payment - one invoice per transaction
- Standard Verto risk controls apply
- Purpose of Payment must be clearly stated
RFI requirements
Sender Information
| Field | Example |
|---|---|
| Company Establishment Date | 25/01/2022 |
| Company Address | No. 5 Dylan Street, Dawin, Cameroon. |
| Company Tax Residence | Cameroon (Domestic), Chad, Gabon, Republic of the Congo |
| Company Incorporation Number | RC/CM/123456 |
| Invoice | |
| Payment purpose |
Fintech partners must collect this information for each sender to submit it to Verto before crediting their merchant. Only the invoice is required for every payment from a sender/remitter.
SLA for Information Collection
- Fintech must not credit their merchant until all required information has been submitted to Verto.
Flow
- Verto sends a webhook notification informing you that additional information is required.
- Submit the required information and documents (invoice).
- Confirm document submission.
Please find more information here.
Payment Data
| Case | Data Required |
|---|---|
| Non-CCA sender banks | Sender Name, Sender Bank (sender account number not available) |
| CCA Sender banks | Sender Name, Sender Account Number, Sender Bank |
Rejection/Risk Flow
If required supporting documents and sender information are not provided within 5 working days, the payment will be returned to the sender. Refund processing can take up to 10 working days.
Updated 6 months ago