Operational questions

Where does Cleo take the KYC information from?

This personal information is retrieved from official databases and bank details are saved from customer’s bank transfers.

Can we use decimal numbers on amount?

Depends on the country you are operating:

For Chile, decimals are not allowed, as the Chilean peso does not use cents. In requests, amounts must be sent as whole integers — for example: 1000, which represents one thousand Chilean pesos.
For Peru, decimals are allowed. Amounts must be sent using a period (.) as the decimal separator — for example: 1000.50, which represents one thousand soles and fifty cents.
For Mexico, decimals are also allowed. Amounts must be sent using a period (.) as the decimal separator — for example: 1000.50, which represents one thousand pesos and fifty cents.

Do you work with Euro or USD for transactions?

No, we don't. We work exclusively with local currency (Chilean peso, Peruvian sol, and Mexican peso), but we can settle transactions in either Euros or USD.

Do you charge customers in their local currency (e.g., MXN) and keep the deposits in that currency? At the time of payment, do you convert the local currency to USD or EUR? Which exchange rates are used for conversions?

Yes, customers are charged in their local currency, and the balance is maintained in that currency. The exchange rate used for conversions is the one provided by the bank on the day the settlement is processed.