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What is a payment purpose code?

A payment purpose code for ApprovalMax Wallets is required when making payments in specific countries or currencies.

A payment purpose code identifies the reason for a transaction and is required by certain countries and banks for compliance and regulatory reporting.

When you make a Batch Payment using ApprovalMax Pay Wallets, this field appears automatically when a payment currency or destination country requires one. The codes are verified through Currencycloud, the licensed payment provider behind ApprovalMax Pay Wallets.
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When the field appears

You’ll only see the Payment Purpose Code field if it’s mandatory for the selected country and currency combination.

Bank country

Currency

When required

Example route

🇮🇳 India (IN)

INR

Required for all local payments

Local INR payment to an Indian bank

🇲🇾 Malaysia (MY)

MYR

Required for all local payments

Local MYR payment to a Malaysian bank

🇨🇳 China (CN)

CNY

Required for all SWIFT payments

Cross-border SWIFT transfer in CNH

🇧🇭 Bahrain (BH) / 🇦🇪 United Arab Emirates (UAE)

Any available currency

Required for all SWIFT payments

Cross-border transfer to a BH or UAE bank

For other [country + currency] combinations, a purpose code is not required.
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ApprovalMax automatically detects these rules through the Pay API and shows or hides the field accordingly.
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This is how you use it

  1. When the Payment Purpose Code field appears, open the drop-down to view available options

  2. Select the code that best matches the purpose of your payment — for example, Business expenses

  3. Complete the remaining payment details and submit your request

ApprovalMax will validate your choice with Currencycloud before processing the payment.

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