BNKA Blog

Living between two countries, explained

Clear guides on paperwork, money and security for people who moved from Latin America to Europe. Written by the team that runs the platform.

Borderless moneyAugust 28, 20265 min read

A remittance is money one person sends to another in a different country, usually to family. What sets it apart from any other transfer.

Borderless moneyAugust 28, 20265 min read

It is the midpoint between what is paid and what is charged for a currency. It works for comparing, but it is not a price you can convert money at.

Borderless moneyAugust 28, 20265 min read

KYC checks who you are once. KYT watches what happens afterwards, operation by operation, which is why it sometimes stops one specific movement.

Borderless moneyAugust 28, 20265 min read

It is the process of checking you are who you say you are. It happens when you open the account, and again later when something changes or expires.

Borderless moneyAugust 28, 20265 min read

When a payment cannot be credited, it goes back to the source. It is not lost, but the return trip costs as much time as the trip out.

Borderless moneyAugust 28, 20265 min read

A CVU identifies an account at a digital wallet. It has twenty-two digits like a CBU, and that resemblance hides a difference that sometimes matters.

Borderless moneyAugust 28, 20265 min read

A screenshot saying sent is not a receipt. Which details make a document actually useful when something has to be traced or claimed.

Borderless moneyAugust 28, 20265 min read

In Peru the app shows one account number and forms ask for another. The CCI is the twenty-digit one, and it is the only one that works outside your…

Borderless moneyAugust 28, 20265 min read

The CBU is the key that lets any institution transfer money to you. What it contains, how it differs from a CVU, and why it never changes.

Borderless moneyAugust 28, 20265 min read

An alias is a readable name pointing to an account. You choose it, which makes it the only one of the three identifiers that can stop being true.

Borderless moneyAugust 28, 20265 min read

A clearing house does not process operations one at a time: it groups them and settles them in batches. That explains why things sometimes arrive…

The first payout is best configured while there is no rush. What to settle, and which of your two CCIs goes in the form.

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