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.
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.
ApprovalMax automatically detects these rules through the Pay API and shows or hides the field accordingly.
This is how you use it
When the Payment Purpose Code field appears, open the drop-down to view available options
Select the code that best matches the purpose of your payment — for example, Business expenses
Complete the remaining payment details and submit your request
ApprovalMax will validate your choice with Currencycloud before processing the payment.