Question 1

How do I make frictionless & instant payments from my account?

Accepted Answer

The option of creating a payment is straightforward when making a transaction from your account. If you have an account with us, you may transfer funds between accounts easily and at no extra charge. How you maintain funds to increase cashflow is a component of cash management.

With the aid of Freemarket, we are able to optimise cash flow and working capital across a number of markets and jurisdictions, with global, domestic and worldwide collection capability. One integration and connection can improve your treasury requirements and offer value for each of our clients and their underlying clients that serve them.

You can use the platform at any time to make payments or transactions. However, because our banking partners don't work weekends and we don't make payments on the weekends, our settlement timeframes may be affected.

Question 2

Can I make a one time batch payment?

Accepted Answer

You can quickly, correctly, and effectively send payments to many recipients in different currencies by uploading a single file. Every 30 days, you will be prompted to authorise the beneficiaries using the platform's 2FA feature.

Each payment on the file must abide by the reachability, message content, and file rules. Payments that are halted during an investigation are removed from the file, and the remaining payments continue to be processed as usual.

Although uploaded files will be processed throughout the day, we advise using the standard FX procedure for one-time transactions that aren't multi-currency.

For more information of our batch payment process please click here.

Question 3

How do you reconcile funds?

Accepted Answer

Our operations team must manually reconcile any payments when the funds that you have added are missing a reference; this could lead us to be delayed with your exchange and payment. We can reconcile the funds if you indicate where they need to go, therefore please let us know.

We locate the funds that have been moved to the segregated account(s) and credit the account that you have verified to us as part of our internal reconciliation procedure. The funds will be accessible on the balances tab under the currency once the amounts have been reconciled.

Once cleared, you can continue to make B2B payments.

How do I make frictionless & instant payments from my account?

Can I make a one time batch payment?

How do you reconcile funds?

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