Ten minutes before your first proposal save you a week
The first payout is best configured while there is no rush. What to settle, and which of your two CCIs goes in the form.
Read more →Living between two countries
Payroll lands the same every month; the currency call doesn't
A recurring payment lets you stop improvising. In Peru that includes a decision that repeats: which account it lands in, the soles one or the dollar one.
The first month of a recurring contract goes by checking. By the second you already know which day it lands. From the third on, the question stops being when it arrives and becomes what you do with the money when it does, which is a far better question.
What gets configured once
| Decision | How often | What to look at |
|---|---|---|
| The destination CCI | Once, and if you change institution | That it belongs to the account you want and is still active |
| The currency of that account | Once, and it sets every following month | Whether you will spend in that currency or convert later |
| When you move to soles | Monthly, or whenever you want | Your expenses that month and whether part is in another currency |
The destination sets the currency for every month
This is the Peruvian specific. Holding a soles account and a dollar one is normal, and the CCI you save decides which one payroll lands in, month after month, until you change it.
Every account carries its own CCI
Twenty digits, one per account, and in the app the two look very alike. The breakdown of CCI versus account number is in the CCI and the account the form asks for.
A bounce costs the cycle
If the payment goes out to a destination that no longer works, the money comes back the way it went and that return is counted in business days too. Then it has to be corrected and relaunched. On a one-off payment that is an annoyance; on payroll, it takes the month with it. Why each leg takes as long as it does is in how long a transfer really takes.
Separating payday from conversion day
With the balance in euros, the day the money lands and the day you convert it stop being the same. At BNKA that step is the swap inside the app and, after it, the withdrawal to your Peruvian account. The corridor is in Peru, the pair in EUR/PEN, and the logic of a monthly payment in euro payroll and sending money home every month.
Worth stating plainly: BNKA is a technology platform. Financial services are provided by regulated partner institutions, and the terms in force for any given operation live in the app and in the terms and conditions.
What you decide and what you don't
- You decide which account payroll lands in, which currency you leave it in, and when you move to soles.
- You don't decide the contract's payment date, the business days of the international rails, or the rate an intermediate leg applies.
- We can't tell you this one: the tax treatment of recurring income from abroad depends on the Peruvian rules in force and on your situation. That gets resolved with your accountant and the official source in front of you.
A quick review, once a quarter
- The saved CCI is still active and belongs to the account you think it does.
- That account accepts the currency the money lands in.
- Your name on the platform matches your ID document.
- You know whether you will spend in that currency or the conversion is still ahead.
- You have decided whether you convert on payday or at another moment.
And if you also send money home, the detail is in the mistakes that cost you money when sending money home.
This is not financial, legal, tax, or investment advice.
Questions on this topic
Should I leave payroll in dollars or move it to soles?
It depends on the currency you actually spend in and it is not a decision we can make for you. The operational point is general: every conversion is applied by someone at their own price, so the fewer hops between what you earn and what you spend, the fewer hands touch the amount.
Do I need to review the destination if I haven't changed banks?
Not every month, but an occasional review is worth it. What tends to break is not the CCI, which does not change, but the assumption behind it: an account you closed, a product the institution migrated, or a name you updated in one place and not the other.
Can I use a relative's account?
No. The payment goes to the person on the contract and the account has to be in their name, with their ID document. A third party's destination usually ends up held or returned. At BNKA we apply the same rule.
Why did one month arrive sooner than another?
Because the payment date falls at different points in the week and international legs are counted in business days. A payment leaving on a Friday crosses more non-working days than one leaving on a Tuesday.
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