Question 1

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 2

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.

Question 3

Why hasn't the beneficiary received the funds?

Accepted Answer

There are a several stages for the payment order to successfully happen and for the funds to successfully reach the beneficiary. During the transaction the platform may state that the transaction is now complete, but the beneficiary has not received the funds, there could be a number of reasons for this, for example, we could be safeguarding the funds or have earmarked them as part of the payment order.

If the withdrawal is marked as ‘Completed’ on the platform, our operations team has given the instructions to withdraw the funds on our end to the beneficiary that you have chosen. If the funds are taking longer to reach the beneficiary, it could be due to the beneficiary’s bank processing the payment, bank holidays delaying a payment, or additional compliance checks being performed by the recipient’s bank.

Can I make a one time batch payment?

How do you reconcile funds?

Why hasn't the beneficiary received the funds?

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