Note: This article explains the mandatory data requirements for Currencycloud account records. These requirements are separate from the mandatory payer and beneficiary data requirements, which relate to the parties involved in a payment.
If you are looking for required payer or beneficiary information for payments, see Mandatory Payer and Beneficiary Data Requirements.
This guide details important updates to the data required when creating or updating customer accounts. These changes are being implemented to enhance data quality, ensure platform consistency, and meet evolving regulatory requirements.
These changes affect two processes:
1. Creating new accounts for your customers
2. Updating any accounts that already have the new data.
Timeline
Currencycloud Direct Users:
From 30 October 2026, new fields will be mandatory in the user interface when you create a customer account. Please ensure you have the required information available in advance.
API and SDK Users:
The changes are already available for optional use.
| From Date | New Customer Accounts | Existing Customer Accounts |
|---|---|---|
| Now | New customer accounts can be created with either none or all the new data. | Existing customer accounts can be updated with either none or all the new data. |
| 6 October 2026 | All changes enabled in our demo environment, allowing you to test how your integration will behave once the requirements become mandatory in production. | |
| 30 October 2026 | All new fields become mandatory for new customer accounts. | The new data will remain optional for existing customer accounts. Accounts can be updated with either none or all the new data. |
To ensure your integration continues working without interruption, please take the following steps.
- Review the updated schema in our API documentation.
- Update your integration to match the new specification.
- Deploy your updated integration before 30 October 2026, when the fields become mandatory for new customer accounts.
Changes to Existing Fields
The existing identification type and value fields will become mandatory, with an expanded list of identification types available.
| Field Name | Description | Format Required | Notes |
|---|---|---|---|
|
identification_ type |
The type of identification document provided. |
For individuals, one of:
For corporates:
|
Some ID types require an expiration date. These are listed in the identification_expiration field description below. |
|
identification_ value |
The number of the identification document indicated | Any string | Max characters 255 |
New Data Requirements
The new fields listed below are in addition to the existing requirements.
| Field Name | Description | Format Required | Mandatory | Character Limits |
|---|---|---|---|---|
|
identification_ expiration |
Expiration date for the identification document. | yyyy-mm-dd |
Mandatory for the following ID types:
|
|
|
identification_ issuer |
Country or State that issued the ID e.g. FR, US-NJ. |
string | Mandatory for Individuals | Max 255 |
|
tax_ identification |
Employer Identification Number/Australian Business Number for the company (US/AUS). | string | Mandatory for Companies where country_of_incorporation = US or AUS. Optional otherwise. | Max 100 |
|
national_ identification |
Social Security Number for the account holder. | string | Mandatory for Individuals where country or country_of_citizenship = US . Optional otherwise. | Max 100 |
| industry_type | The industry sector of the company. | string | Mandatory for Companies | Max 255 |
|
country_of_ incorporation |
Country that the company was incorporated in. | ISO-2 Country Code | Mandatory for Companies | 2 characters |
|
country_of_ citizenship |
Country of citizenship for the account holder. | ISO-2 Country Code | Mandatory for Individuals | 2 characters |
|
trading_ address_ street |
Street address where the company conducts day-to-day business. | string | Mandatory for companies (can be the same as address field). These fields will be validated using Loqate. | Max 150 |
|
trading_ address_ city |
City where the company conducts day-to-day business. | string | Mandatory for companies (can be the same as address field) | Max 100 |
|
trading_ address_ country |
Country where the company conducts day-to-day business. | ISO-2 Country Code | Mandatory for Companies (can be the same as address field) | 2 characters |
|
trading_ address_ postalcode |
Postal code / zip code where the company conducts day-to-day business. | string | Mandatory for Companies where trading_address_country = US, CA, MX (can be the same as address field) . Optional otherwise. | Max 20 |
|
trading_ address_ state |
State where the company conducts day-to-day business. | ISO State Code (US/CA); String otherwise | Mandatory for Companies trading_address_country = US, CA, MX (can be the same as address field). Optional otherwise. | Max 100 |
|
business_ website_url |
Business website for the company. OR “no_website_available” (only to be used in cases where no website exists for the company) | URL format (http:// or https://) | Mandatory for Companies |
Max 400 – needs http:// or https:// |
|
expected_monthly_ activity_ value |
Expected monthly value of transactions per individual / corporate customer. If not specifically collecting this information for individual/corporate customers, averages can be calculated and sent per sub-account using: total transaction value over the period / number of active individual or corporate customers. |
Number (>0) | Mandatory | |
|
expected_ transaction_ countries |
Expected countries the account will transact with. If not specifically collecting these fields for the individual/corporate clients, then this can be calculated and sent per sub-account using: - the top three most common countries paid to or received from for that client category (individual/corporate) ranked in decreasing order |
ISO-3166 Country Codes Array | Mandatory | 2 characters |
|
expected_ transaction_ currencies |
Primary expected transaction currency . (Only one currency should be passed) If not specifically collecting these fields for the individual/ corporate clients, then this can be calculated and sent per sub-account using: - the most commonly used currency by usage for the client type (individual/corporate) by volume. Only one currency can be sent in this field. |
ISO-4217 (Currency codes) Array | Mandatory | 3 characters |
|
expected_monthly_ activity_ volume |
Expected monthly transaction volume per individual / corporate customer. total transaction count over the period / number of active individual or corporate customers |
Number (>0) | Mandatory | |
|
date_of_ incorporation |
Date the company was incorporated. |
yyyy-mm-dd |
Mandatory for Companies | |
|
legal_entity_ sub_type |
Type of legal entity that is opening a corporate account. |
One of:
|
Mandatory for Companies | Defined list |
| customer_risk |
Account risk rating (Treasury accounts will not need to provide this) |
LOW, MEDIUM, HIGH | Optional for clients on the Treasury service model. Mandatory for Individuals and Companies on the Correspondent and OKYC service models. |
Defined list |
Applicable to Individuals: country_of_citizenship, identification_expiration, identification_issuer, national_identification
Applicable to Companies: business_website_url, date_of_incorporation, industry_type, legal_entity_sub_type, tax_identification, trading_address_*
Applicable to Individuals and Companies: customer_risk (model dependent), expected_monthly_activity_value, expected_monthly_activity_volume, expected_transaction_countries, expected_transaction_currencies
Summary of API Endpoint Changes
| Endpoint Name | Endpoint Path | Change |
|---|---|---|
| Create Account |
POST /accounts/create
|
|
| Update Account |
POST /accounts/{id}
|
|
| Get Account |
GET /accounts/{id}
|
|
| Get Account Compliance Settings |
GET /accounts/{id}/compliance_settings
|
New endpoint to retrieve compliance-related fields. |
| Update Account Compliance Settings |
POST /accounts/{id}/compliance_settings
|
New endpoint to update compliance-related fields. |